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Equity markets are prepping for a mildly positive start to Friday’s trade ahead of the Reserve Bank of India’s monetary policy outcome. The central bank is expected to rise rates by 35-50 bps today as India’s headline inflation continues to be 7 per cent plus, way above the bank’s upper end of the tolerance band.
At 7:15 am, the SGX Nifty futures were quoting at 17,450, up around 50 points from Nifty futures’ previous close.
Overnight, oil prices also staged a dramatic reversal falling to pre-Ukraine war levels of $93/ barrel.
That said, here are some stocks that will likely be see some market action today:
Q1 Earnings: Mahindra & Mahindra, Titan Company, Engineers India, NMDC, FSN E-Commerce Ventures (Nykaa), IRB Infrastructure Developers, One 97 Communications, Petronet LNG, Aditya Birla Fashion and Retail, Alkem Laboratories, Pfizer, Raymond, Fortis Healthcare, Greenply Industries, Minda Corporation, Indigo Paints, Motherson Sumi Wiring India, Shipping Corporation of India, and Zensar Technologies will release their Q1 results today.
Oil, energy, rate sensitives: With a sharp decline in oil prices, related stocks, along with rate-sensitive sectors will be on the radar as the RBI announces its monetary policy outcome around 10 am today.
Britannia: In the April-June quarter, Britannia saw its revenue increase 9 per cent to Rs 3,351.9 crore, compared with last year. Its net profit stood at Rs 389.6 crore — down 13.4 per cent. The company will continue to take price increases in the ongoing quarter (July-September) of 2022-23 (FY23) as price increases taken in the previous quarters weren’t enough to cover inflation. Read more
Reliance: The conglomerate’s arm Reliance Brands has signed a long-term franchise agreement with global luxury brand Balenciaga, it announced on Thursday. With this agreement, Reliance Brands will be Balenciaga’s sole India partner to launch the brand in the country. Read here
SpiceJet: After slashing the airline’s approved departure by 50 per cent last week, the DCGA will allow SpiceJet to reinstate flights in a “graded manner” once the airline shows it has sufficient engineering strength and the financial ability to stock up on spares, the country’s air safety watchdog told Reuters. Read more
GAIL India: The nation’s largest gas utility, on Thursday reported a 51 per cent jump in its June quarter net profit on the back of bumper margins from gas marketing. GAIL posted a consolidated net profit of Rs 3,250.95 crore, or Rs 7.34 per share, in April-June compared to Rs 2,157.15 crore, or Rs 4.81 a share, net profit in the same period. Read more
L&T: Infrastructure major Larsen and Toubro (L&T) Group is targeting Rs 2.7 lakh crore revenue by the financial year 2025-26, its Chairman A M Naik said on Thursday. Read here
Adani Enterprises: The company’s subsidiary Adani Road Transport (ARTL) has entered into a definitive agreement to acquire Gujarat Road and Infrastructure Company (GRICL) and Swarna Tollway (STPL), for Rs 3,110 crore. ARTL will acquire 56.8% in GRICL and 100% stake in STPL from Macquarie Asia Infrastructure Fund. Read more
Besides, the company on Thursday reported a 73 per cent jump in consolidated net profit at Rs 469 crore for the quarter ending June 30, 2022. It reported a consolidated net profit of Rs 271 crore in the year-ago period.
Gujarat State Petronet: The company reported a 11% year-on-year growth in consolidated profit at Rs 648.16 crore for the quarter ended June 2022, dented by higher input cost. Revenue grew by 63% YoY to Rs 5,670 crore for the FY23 quarter.
BEML: The company posted a consolidated loss at Rs 82.36 crore for the quarter ended June 2022, against a loss of Rs 94 crore in same period last year, but its revenue grew 43 per cent YoY to Rs 669.2 crore in Q1FY23.
Adani Ports: AD Ports Group has partnered with Adani Ports and SEZ for strategic joint investments in end-to-end logistics infrastructure and solutions, which include rail, maritime services, port operations, digital services, an industrial zone and the establishment of maritime academies in Tanzania.
REC: The company has repprted a 8.2 per cent year-on-year increase in Q1FY23 consolidated profit at Rs 2,454.2 crore. Revenue fell 0.55 per cent YoY to Rs 9,497.5 crore for the quarter.
Balkrishna Industries: The company recorded a 7 per cent yearly decline in consolidated profit at Rs 307 crore for the quarter ended June 2022, impacted by higher input cost and freight expenses. Revenue rose 45.3 per cent YoY to Rs 2,619.43 crore for the quarter.
Manappuram Finance: The company reported a 35.6 per cent YoY decline in profit at Rs 282 crore for the quarter ended June 2022. Revenue from operations fell 4 per cent to Rs 1,502 crore during the same period.
LIC Housing Finance: The housing finance company posted a whopping a 503 per cent YoY growth in profit at Rs 925.5 crore for Q1FY23. Revenue from operations increased 9 per cent YoY to Rs 5,285.5 crore.
Glenmark Life Sciences: The pharma company net profit in Q1FY23 grew 7.7 per cent to Rs 108.73 crore, while its revenue fell 7 per cent to Rs 489.87 crore for the quarter.
Container Corporation of India: CCI has reported a 17 per cent yearly growth in consolidated profit at Rs 294 crore for Q1FY23. Revenue during the quarter rose 10 per cent to Rs 1,994 crore compared to a year-ago.
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