Stocks to watch today: A choppy start is on cards for the Indian equity markets ahead of the US inflation report. As of 7:15 AM, the SGX Nifty Futures quoted at 17,497 levels, down 28-odd points on the Nifty50.
Globally, the US markets saw a sharp fall on Tuesday as Dow Jones slipped 0.1 per cent, while the S&P 500 declined 0.4 per cent, and NASDAQ Composite shed 1.1 per cent.
Asia-Pacific markets, too, lost in tandem with sour mood overseas on Wednesday morning. Japan’s Nikkei 225 dropped 0.6 per cent and South Korea’s Kospi fell 0.5 per cent.
Meanwhile, here are some stocks that are likely to see action in trade on Wednesday:
Results today: Pidilite Industries, Coal India, Hindalco Industries, Eicher Motors, Tata Consumer Products, IRCTC, Abbott Inida, Patanjali Foods, Max Healthcare, Zydus Lifesciences, NHPC, Cummins India, Aarti Industries, IRFC will report their June quarter results (Q1FY23).
Bharti Airtel: The telecom operator reported five-fold jump in consolidated net profit year-on-year (YoY) to Rs 1,607 crore in Q1FY23 from Rs 284 crore in the year-ago period. The consolidated revenue from operations, meanwhile, rose 21 per cent YoY to Rs 32,805 crore in Q1FY23. The company’s average revenue per user (ARPU) increased to Rs 183 in Q1FY23 as against Rs 146 in Q1FY22. READ MORE
Adani Ports and SEZ: The company reported 16.86 per cent YoY decline in consolidated net profit to Rs 1,091.56 crore in Q1FY23 from Rs 1,312.9 crore. However, total income climbed to Rs 5,099.25 crore, as against Rs 5,073 crore in Q1FY22. Total expenses, too, increased to Rs 4,174.24 crore in Q1FY23 from Rs 3,660.28, a year ago. READ MORE
Indian Hotels: On the back of demand surge post relaxation of covid-19 curbs, the hospitality group posted a profit-after-tax (PAT) of Rs 170 crore in Q1FY23 against loss of Rs 277 crore in the year-ago period. The company’s revenue surged by 249.45 per cent YoY to Rs 1,293 crore in Q1FY23 from Rs 370 crore in Q1FY22. The management guided for a double-digit revenue growth in Q2FY23. READ MORE
Delhivery: Logistics firm reported widening of net loss to Rs 399 crore in Q1FY23 as against net loss of Rs 130 crore in Q1FY22. The firm’s total income rose 32 per cent YoY to Rs 1,795 crore in Q1FY23 as compared to Rs 1,364 crore in Q1FY22. The management remains bullish on overall demand going forward for integrated supply chains across industry verticals. READ MORE
Power Grid: They registered 36.3 per cent YoY drop in consolidated net profit to Rs 3,801.19 crore from Rs 5,998.28 crore in the same quarter last year. PAT, however, dropped by 8.55 per cent from Rs 4,156.44 crore in the preceding quarter. While the topline grew at a slower pace and recorded single-digit growth in Q1, telecom and consultancy was a strong performance. READ MORE
Shriram Transport Finance: The company announceed to announced to raise fixed deposit rates by up to 0.5 per cent across tenors. With the hike in fixed deposit rates by 25-50 basis points or 0.25-0.50 per cent per annum across different tenures, customers can earn interest up to 8.75 per cent on fixed deposits.
JSW Steel: The steel major posted 14 per cent YoY growth in crude steel output to 15.69 lakh tonne (LT) in July 2022. Earlier, the company had produced 13.82 LT crude steel in July 2021. While the production of flat rolled products rose 15 per cent to 10.7 LT, long rolled output registered 19 per cent climbed 19 per cent rise to 3.65 LT.
NTPC: The power company plans to seek shareholders’ approval to fundraise Rs 12,000 crore through issuance of non-convertible debentures. Through private placement methodology, the fund raise is likely to be used for capital expenditure, working capital and for general corporate purposes.
Stocks in F&O ban: Balrampur Chini Mills, Escorts, and Delta Corporation were banned in the F&O ban period on Wednesday, August 10.