Stocks to watch: RIL, HUL, ICICI Bank, RBL Bank, IGL, Borosil Renewables

Stocks to watch: Indian equity markets are likely to start Tuesday’s trade on a dismal note amid weak foreign flows and rising crude prices. At 7:45 am, the SGX Nifty quoted at 17,808 levels, indicating a flat start at the bourses.

Globally, the US markets were perked up on Monday’s trade as Dow Jones, the S&P 500, and NASDAQ Composite climbed up to 1 per cent.

Markets in Asia-Pacific, however, were mixed as Hong Kong and mainland China markets were subdued. Other indices like Nikkei 22, Topix, Kospi, the S&P 200, and Kosdaq, meanwhile climbed up to 0.8 per cent.

Meanwhile, back home, here’s a list of stocks that may see action in Tuesday’s trade:

Q2 results: Chennai Petroleum, MosChip Technologies, Nandini Creation, and Nutricircle will report the July-September quarter results (Q2FY23) on Tuesday, October 25.

Reliance Industries: The conglomerate posted flat net profit at Rs 13,656 crore in Q2FY23 from Rs 13,680 crore, in the year-ago period after windfall profit tax and lower refining margins dented the performance. Sequentially, net profit fell 24 per cent from Rs 17,955 crore. Revenue, meanwhile, increased 32.4 per cent YoY to Rs 253,497 crore. READ MORE

HUL: The FMCG giant registered 22.2 per cent YoY increase in net profit to Rs 2,665 crore in Q2FY23, which beat street estimates despite sustained weakness in rural markets. Revenue, too, increased 16.1 per cent YoY to Rs 15,144.0 crore, as against Rs 13,046.0 crore in Q2FY22. The management said that the company’s volumes grew 4 per cent despite perc ent degrowth in overall market. READ MORE

ICICI Bank: The private sector lender reported a 37 per cent YoY jump in net profit to Rs 7,558 crore in Q2FY23, aided by lower provisions and higher net interest income. The NII of the lender rose 26 per cent YoY to Rs 14,787 crore in Q2FY23 from Rs 11,690 crore in the year-ago period. READ MORE

Kotak Mahindra Bank: The lender’s consolidated net profit rose 20.7 per cent to Rs Rs 3,608.18 crore in Q2FY23 from Rs Rs 2,988.74 crore in the year-ago period. NII, meanwhile, grew 26.8 per cent YoY to Rs 5,099 crore during this period and net interest margin, a measure of profitability of banks, stood at 5.17 per cent. READ MORE

Indraprastha Gas: The CNG gas retailer reported 4 per cent YoY rise in net profit to Rs Rs 416.15 crore in Q2FY23 from Rs 400.54 crore in the same period a year back. Revenue almost doubled to Rs 3,922.02 crore in Q2FY23 as against Rs 2,015.99 crore in Q2FY22. READ MORE

RBL Bank: The lender’s standalone net profit surged 554 per cent YoY to Rs 201.55 crore in Q2FY23, as a sharp decline in provisioning for bad loans and healthy increase in net interest income boosted the company’s bottomline. RBL Bank’s net interest income, meanwhile, was at Rs 1,064 crore, up 16 per cent YoY.

Pharma stocks: According to the USFDA, leading drug firms like Dr Reddy’s, Cipla and Aurobindo Pharma have recalled different products from the US market for various issues. WhilemDr Reddy’s has recalled 2,838 ampules of Phytonadione Injectable Emulsion, Cipla recalled 9,041 cartons of Arformoterol Tartrate Inhalation Solution.

SpiceJet: The airline operator will be able to operate more than 50 per cent of its flights from October 30 as the three-month long restrictions will be lifted in the winter schedule. According to the DCGA, the 50 per cent restriction on the number of flights was co-terminus with the summer schedule that ends on October 29.

Vodafone Idea: The telecom operator received the board’s approval to raise Rs 1,600 crore from American Tower Corporation via optionally convertible debentures (OCDs) and use the proceeds to pay the dues of the tower company.

Borosil Renewables: The solar glass manufacturer has acquired 86 per cent stake in Europe’s largest solar glass manufacturer Interfloat Group for an undisclosed sum of money. With this acquisition, the company’s solar glass manufacturing capacity will grow to 750 tonnes per day from the current 450 TPD, the company said.

Best Agrolife: The company clocked over five-fold jump in its consolidated net profit at Rs 129.81 crore for Q2FY23 from Rs 25.18 crore in the year-ago period. Total income also more than doubled to Rs 701.17 crore in the recently concluded quarter.