Stocks to Watch: RIL, HUL, ONGC, NTPC, Ambuja, HDFC Life, Grasim, Vedanta

Stocks to Watch Today: The markets seem poised for a strong start following the robust rally on the Wall Street led by corporate earnings. As of 07:00 AM, the SGX Nifty futures quoted at 16,470, indicating a gap-up of over 125 points on the Nifty 50 benchmark.

Meanwhile, following stocks are likely to see some action in trades on Wednesday.

Earnings Watch: CEAT, Havells India, IndusInd Bank, JSW Ispat Special Products, Mastek, Oracle Financial Services Software (OFSS), Rane Engine, Reliance Industrial Infrastructure (RIIL), Sasken Technologies, Syngene International, Tata Communications and Wirpo are some of the prominent companies scheduled to announce Q1 results today.

Hindustan Unilever (HUL): The FMCG major beat analysts’ estimates by posting a net profit of Rs 2,381 crore in the June quarter of 2022-23, up 13.5 per cent YoY. Revenue also beat estimates with a 19.6 per cent YoY growth at Rs 14,357 crore in Q1 FY23. READ MORE

NTPC: India’s largest power producer, is going ahead with construction of its first coal-fired plant in about six years, as the global energy crunch spurs demand for the dirtiest fossil fuel. Bharat Heavy Electricals (BHEL) has emerged as the lowest bidder to build the 1,320 megawatt project in the eastern state of Odisha. READ MORE

Ambuja Cements: The cement maker which was recently acquired by the Adani group, along with ACC in a $10.5-billion deal, reported a 14.2 per cent drop in consolidated net at Rs 752 crore for the quarter ended June 30, 2022 versus the same period last year. Net sales rose 15.1 per cent to Rs 7,943 crore. READ MORE

ICICI Lombard General Insurance: The country’s largest private sector general insurer’s net profit jumped 79.6 per cent YoY to Rs 349 crore in Q1FY23, on the back of a healthy growth in premium income. The gross direct premium income rose 28.2 per cent to Rs 5,370 crore. READ MORE

L&T Finance Holdings: The company posted a strong 47.5 per cent jump in consolidated net profit at Rs 261.17 crore for the quarter ended June 2022 when compared with Rs 177.02 crore in June quarter of 2021. Total income, however, was marginally down at Rs 2,988.40 crore from Rs 3,053.77 crore.

Grasim Industries: The Aditya Birla Group company has approved foray into B2B e-commerce in the building materials segment with an investment of Rs 2,000 crore over the next five years. Kumar Mangalam Birla, chairman of the Group said the move will also catalyse the growth of the MSME universe in India and provide an impetus to the government’s vision of ‘Digital India’. READ MORE

Vedanta: The metals and mining major announced a second interim dividend of Rs 19.5 per equity share on Tuesday, taking its total payout in two rounds of dividends announced so far in FY23 to Rs 18,960 crore. Vedanta was the top dividend-paying firm in FY22, followed by TCS, ONGC, HCL Technologies, IOC, HUL, Hindustan Zinc, ITC, SBI and Reliance Industries among others in the top 20 list. READ MORE

HDFC Life: The private sector insurer’s net profit surged 21 per cent YoY to Rs 365 crore in the April-June quarter of FY23, aided by lower mortality reserves and healthy jump in value of new business (VNB). Its VNB rose 25 per cent to Rs 510 crore. READ MORE

Rallis India: The company reported a 18.1 per cent decline in Q1FY23 net profit at Rs 67.47 crore when compared with Rs 82.42 crore in Q1FY22. Total income grew by almost 16 per cent YoY to Rs 866.80 crore.

Car Makers: India’s passenger vehicle exports rose by 26 per cent in Q1FY23. As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle shipments rose to 1,60,263 units as compared with 1,27,083 units in the same quarter of FY22. READ MORE

Canara Bank: The state-run bank raised Rs 2,000 crore by issuing Basel III compliant additional tier I bonds this month. “The bank received total bid amount of Rs 5,719 crore, out of which full issuance of Rs 2,000 crore was accepted at 8.24 per cent,” the bank said in a regulatory filing.

TV18 Broadcast: The company reported a net loss of Rs 4.97 crore for the quarter ended June 2022 as against a net profit of Rs 21.21 crore in the quarter ended June 2021. Total income increased 2 per cent YoY to Rs 283.52 crore from Rs 277.97 crore.

Network 18: The company’s Q1 net loss widened to Rs 35.43 crore in the quarter ended June 2022 when compared with a loss of Rs 26.95 crore in the year ago quarter. Total income, however, surged 28.4 per cent to Rs 41.60 crore YoY.

PNB Housing Finance: The company and its board of directors paid nearly Rs 73 lakh to the Securities and Exchange Board of India (Sebi) to settle a case around preferential allotment of shares to the Carlyle Group and other investors. The payment was made under the settlement regulations, which allow an alleged wrongdoer to settle a matter without admitting or denying the guilt.

Ponni Sugar: The company reported a sharp 52.7 per cent fall in Q1 net at Rs 2.16 crore for the quarter ended June 2022 as against Rs 4.57 crore in the year ago period. Total income, however, rose 34.9 per cent YoY to Rs 88.09 crore.

Stocks in F&O ban: Delta Corp remains the only stock in F&O ban period on Wednesday as well.