Stock to Watch Today - Rupeedesk Reports - 22.07.2022
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Stocks to Watch Today | Reliance Industries, UltraTech Cement, RBL Bank, and others in news today.
Results on July 22: Reliance Industries to be in focus ahead of June 2022 quarter earnings on July 22. Reliance Industries, UltraTech Cement, JSW Steel, HDFC Asset Management Company, Bandhan Bank, Coforge, Crompton Greaves Consumer Electricals, Finolex Industries, Andhra Cements, Atul, Bharat Gears, Gokaldas Exports, Greenpanel Industries, HFCL, Huhtamaki India, Mahindra CIE Automotive, Meghmani Organics, Sigachi Industries, Supreme Petrochem, Tinplate Company of India, Ugro Capital, and Zenotech Laboratories will be in focus ahead of June 2022 quarter earnings on July 22.
Results on July 23: ICICI Bank to be in focus ahead of June 2022 quarter earnings on July 23. ICICI Bank, Kotak Mahindra Bank, Yes Bank, Karnataka Bank, Coastal Corporation, D-Link (India), eMudhra, Kewal Kiran Clothing, Navin Fluorine International, Steel Exchange India, Surana Telecom and Power, and Uttam Galva Steels will be in focus ahead of quarterly earnings on July 23.
Results on July 24: Infosys to be in focus ahead of its quarterly earnings on July 24.. Country's second largest IT services provider Infosys will announce its June 2022 quarter earnings on July 24, Sunday.
JB Chemicals & Pharmaceuticals: The company has completed the acquisition of portfolio of brands from Dr Reddy’s Laboratories. This acquisition was partly funded from internal accruals and partly through long-term debt.
NLC India: The company said the board has approved an investment proposal for setting up Mine III (peak capacity-11.50 MTPA and normative capacity- 8.71 MTPA) in Neyveli, Tamil Nadu at an estimated cost of Rs 3,755.71 crore, and also investment proposal of establishing TPS II, the second expansion of thermal power station (2 X 660 MW) at Neyveli, Tamil Nadu for Rs 11,189.20 crore.
Tube Investments of India: The company has executed Share Purchase and Shareholders' Agreement to acquire 76 percent equity stake in Moshine Electronics (MEPL), a company manufacturing camera module for mobile phones. The acquisition would be through secondary purchase of shares for Rs 8.64 crore. MEPL has its manufacturing facility in Noida. The company diversified into electronics and components business.
ICICI Securities: ICICI Securities reports 12 percent YoY decline in Q1 profit, but revenue rises 6.5 percent. The company recorded a 12% year-on-year decline in consolidated profit at Rs 273.6 crore for the quarter ended June 2022 and profit before tax was also lower by 12% at Rs 367 crore. Revenue grew by 6.5 percent YoY to Rs 793.55 crore supported by interest income and income from services, but impacted by lower brokerage income.
Biocon: The US Food and Drug Administration has concluded a pre-approval inspection for Site 3 of Biocon at Hyderabad in Telangana on July 20, with three observations. The company will be addressing within the stipulated time and stands committed to the quality, safety and efficacy of its products.
JSW Energy: The energy company recorded a 179 percent on-year increase in consolidated profit at Rs 560 crore for the quarter ended June 2022, backed by exceptional income and strong operating income as well as topline performance. Revenue grew by 67.5% YoY to Rs 3,115 crore and EBITDA increased by 34 percent to Rs 1,111 crore for the quarter.
Emami: The company acquired 30 percent stake in a pet-care start-up Cannis Lupus Services India. Cannis Lupus under the brand 'FurBallStory' would thus be focusing on the fast-growing pet care segment with its ayurvedic range of solutions for common and recurrent ailments in pets, especially dogs.
Gujarat State Fertilizers & Chemicals: GSFC company reported a 154 percent year-on-year growth in consolidated profit at Rs 345.81 crore for the quarter ended June 2022, backed by strong revenue growth and operating income. Revenue grew by 63% YoY to Rs 3,018.15 crore in Q1FY23.
Welspun Corp: The company announced the commissioning of its blast furnace and sinter plant, and TMT bars manufacturing facility at Anjar, Gujarat through its wholly owned subsidiaries. The blast furnace can produce approximately 5 lakh MT of hot metal per annum and TMT bar facility has a capacity of 3.5 lakh MT per annum.
ITI: To supplement country's requirement of self-reliance in telecommunication space, two units of Department of Telecommunications (DOT), ITI (a PSU manufacturing telecom and defense equipment), and Centre for Development of Telematics (C-DOT) have signed an MoU to establish a framework for cooperation of LTE/LTE-A/4G technology based wireless communication systems. The systems will provide networks of upcoming technologies to different telecom service providers in the country and also address business opportunities globally.
Sharika Enterprises: Sharika Enterprises has signed a consultancy service agreement with LS Cable & System, South Korea for promoting and offering new cable technologies and solutions - HVDC cable to Indian Customers. LS Cable & System, Korea is one of the leading global manufacturers of cable & accessories up to 500KV voltage grade.
IndiaMART InterMESH: The company reported a 47 percent YoY decline in consolidated profit at Rs 47 crore on lower operating income. Revenue grew by 7 percent YoY to Rs 226 crore and EBITDA fell by 28 percent to Rs 64 crore in quarter ended June 2022. EBITDA margin contracted to 29 percent from 49 percent YoY.
Cyient: The company clocked a 0.9 percent year-on-year growth in profit at Rs 116.1 crore for the quarter ended June 2022, while group revenue at Rs 1,250.1 crore grew by 5.8 percent QoQ and 18.1 percent YoY. Constant currency revenue growth stood at 4.4 percent QoQ and 15.8 percent YoY. Group and services order intake grew by 18 percent YoY.
RBL Bank: The private sector lender has reported a profit at Rs 201 crore for the quarter ended June 2022, against loss of Rs 459 crore in same period last year, aided by 82 percent decline in provisions. Net interest income grew by 6 percent YoY to Rs 1,028 crore, but other income fell 6 percent to Rs 614 crore for the quarter. Advances grew by 7% and deposits registered a 6% growth YoY.
SRF: The chemical company said profit after tax (PAT) increased by 54 percent YoY to Rs 608 crore in Q1FY23, backed by revenue and operating performance. Consolidated revenue grew by 44 percent YoY to Rs 3,895 crore in Q1FY23, and earnings before interest and tax (EBIT) increased 58 percent YoY to Rs 938 crore during the quarter.
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