Sensex, Nifty Poised For A Firm Opening; Reliance, HDFC Bank, ICICI Bank, RBL Bank, Dixon Stocks Are In Focus

Indian equity markets are set for a strong opening on Monday, with the Gift Nifty, an early indicator for the Nifty 50 index, edging 0.24% higher to 25979.5 at 8:35 a.m. IST.  

The markets ended positively on Friday, reaching their highest levels in four months. Sector-wise, FMCG, consumer durables, pharmaceuticals, and autos led the gains, while. IT, media, and metals offset some of the gains. 

Most Asian markets were positive on Monday, with all major indices apart from the bourses in Thailand and Malaysia trading in the green. Hong Kong’s Hang Seng and the Taiwan Stock Exchange were the biggest gainers.

At the time of writing, the gold spot price rose 1.37% to $4,256.84 per ounce. Brent crude traded down 0.23% at $61.15 per barrel.

Stock Watch

RBL Bank: Emirates NBD will acquire a controlling 60% stake in RBL Bank through a $3 billion infusion, marking the largest-ever FDI in India’s banking sector.

PTC Industries and Bharat Dynamics: Signed an MoU to form a JV for designing, developing, and manufacturing propulsion systems, guided bombs, and aero-engines for missiles, UAVs, and loitering munitions.

RPP Infra Projects: Received an LoA worth ₹125.9 crore for civil works at the National Academy of Defence Financial Management in Pune.

Alembic Pharmaceuticals: Received final USFDA approval for Triamcinolone Acetonide Injectable Suspension USP, equivalent to Kenalog-40.

Ircon International: Bagged a ₹360.3 crore order from Petronet LNG for civil and structural works at its Dahej plant.

Rail Vikas Nigam (RVNL): Emerged as the lowest bidder for a ₹144.4 crore OHE upgradation project under South Central Railway’s Secunderabad division.

Marico: Completed the acquisition of the remaining 46.02% stake in True Elements, making it a wholly owned subsidiary.

Tata Power: Temporarily suspended operations at its Mundra plant until November 30, with plans to resume after necessary measures.

Sterling & Wilson Renewable Energy: Secured new EPC orders worth ₹1,772 crore across India and South Africa, taking total order inflows this fiscal to ₹3,775 crore.

Quarterly Earnings Highlights

Reliance Industries: Reported a 14.3% rise in profit to ₹22,092 crore, driven by a 9.9% growth in gross revenue to ₹2.83 lakh crore. EBITDA increased 14.6% to ₹50,367 crore with margins improving 80 bps to 17.8%. Jio’s profit grew 12.8% to ₹7,379 crore, with a 14.9% rise in revenue to ₹42,652 crore. EBITDA rose 17.7% to ₹18,757 crore with margins expanding to 51.6%, while ARPU climbed to ₹211.4.

HDFC Bank: Profit rose 10.8% to ₹18,641 crore, with net interest income up 4.8% at ₹31,552 crore. Provisions surged 29.6% to ₹3,500 crore, while asset quality improved with gross NPA at 1.24%.

ICICI Bank: Posted a 5.2% profit growth to ₹12,359 crore as net interest income rose 7.4% to ₹21,530 crore. Provisions fell 26% to ₹914 crore, and asset quality improved with gross NPA at 1.58%.

UltraTech Cement: Profit surged 75.2% to ₹1,231.6 crore on a 20.3% revenue rise to ₹19,607 crore, aided by strong volume growth and cost efficiency.

IndusInd Bank: Slipped into a loss of ₹444.8 crore versus a profit of ₹1,325.5 crore last year, as net interest income fell 17.5% to ₹4,409 crore and provisions jumped 44%.

Punjab National Bank: Profit rose 13.9% to ₹4,904 crore despite a marginal fall in NII to ₹10,469 crore. Provisions more than doubled to ₹643 crore, though NPAs declined sequentially.

IDBI Bank: Profit nearly doubled to ₹3,627 crore, supported by strong other income and provision write-backs. NII fell 15.2% to ₹3,285 crore, while asset quality improved further.

RBL Bank: Profit fell 20% to ₹179 crore with a 4% dip in NII to ₹1,551 crore. Provisions eased 19%, while gross NPA declined to 2.32%.

Yes Bank: Profit increased 18.3% to ₹654 crore as NII grew 4.6% to ₹2,301 crore. Provisions rose 41%, but NPAs remained stable at 1.6% gross and 0.3% net.

Federal Bank: Profit declined 9.6% to ₹955 crore even as NII rose 5.4% to ₹2,495 crore. Provisions surged sharply, but asset quality remained steady.

Bank of India: Profit rose 7.6% to ₹2,555 crore despite a slight dip in NII. Provisions dropped 57.7%, with gross NPA improving to 2.54%.

L&T Technology Services: LTTS reported a 2.8% profit rise to ₹329 crore and 15.8% growth in revenue to ₹2,979 crore. The board declared an interim dividend of ₹18 per share.

Sobha: Profit surged 178% to ₹72.5 crore with revenue up 50.8% at ₹1,408 crore, driven by strong real estate demand.

Dixon Technologies: Profit jumped 71.9% to ₹670 crore on a 28.8% revenue rise to ₹14,855 crore.

DCB Bank: Profit rose 18.3% to ₹184 crore with NII up 17.1% to ₹596 crore. Provisions increased modestly, while asset quality improved slightly.

Tata Technologies: Profit increased 5.1% to ₹165.5 crore, supported by a 2.1% rise in revenue to ₹1,323 crore, indicating steady global demand.

Havells India: Posted a 16.5% profit growth to ₹317.5 crore, driven by 5.2% higher revenue at ₹4,767 crore amid resilient consumer demand.

AU Small Finance Bank: Profit dipped 1.8% to ₹561 crore as provisions rose nearly 29%. NII grew 8.6% to ₹2,144 crore, with stable asset quality.

Karur Vysya Bank: Profit rose 21.2% to ₹574 crore with NII up 18.7% at ₹1,261 crore. Provisions increased sharply, while NPAs remained under control.

JSW Energy: Profit declined 17.4% to ₹705 crore despite a 60% surge in revenue to ₹5,177 crore, reflecting higher input costs.

Poonawalla Fincorp: Poonawalla Fincorp swung to a profit of ₹74.2 crore versus a loss last year, aided by a 42% rise in NII to ₹904 crore and improved asset performance.

CESC: Profit grew 20.4% to ₹425 crore, while revenue increased 12% to ₹5,267 crore, backed by steady power demand.

IDFC First Bank: Profit surged 75.5% to ₹352 crore as NII rose 6.8% and provisions fell sharply. Asset quality continued to improve.

Q2 Results Today

Geojit Financial Services 

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