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Stocks to watch: Infosys, RIL, ICICI Bank, Kotak Mahindra, Q1 Results, Tata Motors

Stocks to watch today: After six sessions of steamy momentum in the Indian equity markets; FII flows, global cues, rupee movement, crude oil prices, and corporate earnings will steer sentiments on Monday, July 25. At 7:26 AM, the SGX Nifty Futures quoted at 16,649 levels, down 70-odd points on the Nifty50.

Globally, the US markets saw a sharp fall on Friday amid disappointing corporate results. Dow Jones slipped 0.4 per cent, while the S&P 500 dropped 0.9 per cent, and NASDAQ Composite declined 1.8 per cent. Asia-Pacific markets, too, followed similar suit and edged lower in trade on Monday morning.

Later this week, all eyes will be on the US Federal Reserve’s interest rate decision and US GDP data for the second quarter.

Meanwhile, back home, here are some stocks that will likely see some action in trade on Monday:

Results today: Axis Bank, Tata Steel, Tech Mahindra, Macrotech Developers, Canara Bank, Supreme Industries, KPIT Technologies, IIFL Wealth Management, Indian Energy Exchange, Aether Industries, Jindal Stainless, Sterlite Technologies, and Tejas Networks will report their June quarter 2022 (Q1FY23) results on Monday, July 25.

Reliance Industries: The index heavyweight saw 46.3 per cent year-on-year (YoY) jump in consolidated net profit to Rs 17,955 crore for Q1FY23. Consolidated PBIDT (profit before interest, depreciation, and tax) too saw 45.9 per cent YoY growth to Rs 40,244 crore in Q1. The O2C business delivered best-quarterly performance with all-time high revenues and ebitda. Revenues in O2C increased 56.7 per cent YoY to Rs 1.61 trillion due to higher crude oil and product prices. READ MORE

Infosys: The IT major delivered net profit for Q1FY23 below street expectations at Rs 5,360 crore, up 3.2 per cent YoY but down 5.7 per cent sequentially. Revenue growth, meanwhile, surged 23.6 per cent YoY to Rs 34,470 crore. In dollar terms, the revenue increased 5.5 per cent sequentially in constant currency terms. However, margins came below the company’s range of 21 to 23 per cent at 20.1 per cent over higher retention costs and cross-currency headwinds. READ MORE

ICICI Bank: The private sector lender reported 49.5 per cent YoY rise in net profit to Rs 6,904.94 crore as healthy loan growth boosted bottom-line. However, net profit dropped 1.6 per cent QoQ from Rs 7,018.17 crore. That said, net interest income (NII) clocked 20.1 per cent YoY growth to Rs 13,210.02 crore. READ MORE

YES Bank: The private sector lender reported 50.2 per cent YoY increase in net profit to Rs 311 crore due to recovery in interest margins and fall in provisions or contingencies. Sequentially, its net profit declined by 15.5 per cent from Rs 367 crore in Q4FY22. The lender’s net interest income (NII) rose by 32 per cent in Q1FY23 to Rs 1,850 crore from Rs 1,404 crore in Q1FY22. READ MORE

Kotak Mahindra Bank: They reported consolidated net profit of Rs 2,755 crore for Q1FY23, up 53 per cent YoY and net profit of Rs 2,071 crore on a standalone basis, up 26 per cent YoY on the back of drop in provisions and contingencies and healthy growth in net interest income. Meanwhile, NII increased to Rs 4,697 crore, up 19 per cent from the year-ago period on the back of 29 per cent YoY rise in customer assets. READ MORE

Tata Motors: The automaker bagged order for 1,500 electric buses from Delhi Transport Corporation (DTC) as part of a tender by Convergence Energy Services. As per the contract, the auto major will supply, operate and maintain air-conditioned, low-floor, 12-metre fully-built electric buses for 12 years. That said, the Mumbai-based company has already supplied more than 650 electric buses across multiple cities in India. READ MORE

Aviation stocks in focus: On the back of higher fares and seasonality, domestic air traffic dropped 7.8 per cent in June as airlines few over 10 million passengers. Seat occupancy, too, was low compared to last month. Vistara was the only airline to carry more passengers in June compared to May. It carried 9,000 more passengers in the month. READ MORE

Sun Pharma, Glenmark: The leading drug makers have recalled US products due to lapses in the manufacturing process. While Sun Pharma has recalled 50,680 vials of Testosterone Cypionate Injection – used to treat low testosterone in adult males from the US market, Sun Pharma initiated Class II nationwide (US) recall of affected lots last month.

Vardhman Textiles: The company 4.13 per cent YoY increase in net profit to Rs 313.35 crore from Rs 300.92 crore. The top line of the company was up 44.2 per cent YoY to Rs 2,731 crore. That said, ebitda margin for Q1FY23 stands at 19.36 per cent as against 26.55 per cent in Q1FY22.

Stocks in F&O ban: RBL Bank, Delta Corporation, and Indiabulls Housing Finance are banned in the F&O ban period on Tuesday, July 25.


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