Stocks to Watch: Hinduja Group, RIL, SBI, LIC, M&M, Hindalco, KRBL, NDTV

Stocks to Watch Today: After Friday’s sharp rally, the key benchmark indices are now within striking distance of their record highs touched in 2021. Renewed FII buying, coupled with hopes of slower rate hikes by US Fed seem to be aiding the current market sentiment.

On Monday, the Nifty is likely to start trade on a flat note tracking cues from its overseas counterpart. At 07:10 AM, the SGX Nifty futures quoted at 18,453, indicating an opening gain of 30-odd points on the Nifty 50 benchmark.

Meanwhile, following are the stocks that are likely to some action in trades today.

Earnings Watch: Apollo Tyres, Bharat Forge, Grasim, Indiabulls Housing Finance, IRCTC , MMTC, MTNL, SpiceJet and Strides Pharma to be in focus owing to the September quarter results.

Hinduja Group: Shares of Hinduja group – Ashok Leyland, IndusInd Bank, Nxtdigital, Hinduja Global Solutions, Gulf Oil Lubricants and GOCL Corporation are likely to be in focus after the billionaire brothers called a truce on a power struggle that threatened the future of the business empire of the UK’s wealthiest family. READ MORE

Ashok Leyland: Hinduja Group’s electric vehicle arm Switch Mobility is in talks with financial investors to raise $200-250 million and is open to diluting up to 15 per cent stake in Switch Mobility, Dheeraj Hinduja, executive chairman said. READ MORE

Meanwhile, Ashok Leyland posted a net profit of Rs 199 crore during the second quarter of the financial year 2022-23, compared to a loss of Rs 83 crore during the same period last year.

Reliance Industries (RIL): The Ministry of Road Transport & Highways awarded the contract to set up India’s first MMLP near Chennai to the Mukesh-Ambani-led company. RIL’s entry into multi-modal logistics parks (MMLPs) is a logical extension for the company, say informed sources, as the firm’s ambitions in existing businesses such as retail get bigger by the day. READ MORE

SBI: After securing a Euro 150 million Credit line for solar energy finance from a German financial institution, State Bank of India is in talks with European Investment Bank for about Euro 200 million to fund climate finance. READ MORE

KRBL: The company is looking to expand the domestic and export footprint of its premium regional non-basmati varieties of Kolam, Sona Masuri and Gobindobhog under the India Gate label. READ MORE

Mahindra & Mahindra (M&M): The auto major reported better-than-expected performance for the quarter ended September 30. Robust sales of its SUVs and a good showing by the farm equipment vertical bumped up its standalone net profit (after exceptional items) by 46 per cent YoY. READ MORE

LIC of India: State-owned Life Insurance Corporation (LIC) reported a multifold increase in net profit during July–September (Q2) of FY23. Net profit in Q2 stood at Rs 15,952.49 crore, up 11 times from Rs 1,433.71 crore in the year-ago period. This was due to a change in its accounting policy, wherein it has transferred Rs 14,271.80 crore to the shareholders’ account from the non-participatory account. READ MORE

Hindalco: Aditya Birla Group’s flagship company reported a 35.5 per cent YoY decline in consolidated net profit for Q2FY23 to Rs 2,205 crore, due to elevated energy costs and a fall in aluminium prices. The profit for the quarter was below Street estimates of Rs 2,384 crore for the period even as revenue was ahead of estimates. READ MORE

NDTV: The company and its subsidiary NDTV Networks put on hold the proposed sale of its 20 per cent stake in Astro Awani Network, a media company based in Malaysia. NDTV entered into a joint venture with Astro in 2005 for the launch of a 24-hour news channel in Malaysia and Indonesia each. The channels were subsequently launched in 2006. READ MORE

Fortis Healthcare: The company posted 9.9 per cent growth in revenue to Rs 1,607 crore and a 27.9 per cent rise in profit after tax to Rs 166 crore in the second quarter of the fiscal year. Reported profit showed a higher growth of 67 per cent to Rs 218 crore. Q2FY23 and H1FY23, owing to an exceptional gain of Rs 51.6 crore, which pertains to reversal of impairment in an associate Company. READ MORE

Emami: The company posted a consolidated net profit of Rs 184.18 crore in the September quarter, marginally down from the year-ago net profit of Rs 185.27 crore. The company said that gross margins contracted by 230 bps in Q2FY23 due to inflationary pressures combined with an unfavourable portfolio mix due to extraordinary high sales of pain management products last year.

Suryoday Small Finance Bank (SFB): The bank reported a net profit of Rs 13 crore in July-September quarter as against a net loss of Rs 1.92 crore the same time a year ago. On a sequential basis, the bank’s net profit rose 67.7 per cent from Rs 7.75 crore in April-June.

Stocks in F&O ban: GNFC and PNB were the only stocks in F&O ban period on Monday.