Titan, Coal India, Cipla, Paytm, Tata Motors, and Others
Nifty futures on the Singapore Exchange traded 86.5 points, or 0.48 per cent higher at 18,289.5, signaling that Dalal Street was headed for a positive start on Monday.
Coal India, Divis Laboratories, One 97 Communications (Paytm), PB Fintech (Policybazaar), Bharat Petroleum Corporation, Aditya Birla Capital, Affle India, Ceat, Cera Sanitaryware, Endurance Technologies, Greenply Industries, India Cements, KEC International, RateGain Travel Technologies, Sun Pharma Advanced Research Company, Sundaram-Clayton, Tata Teleservices (Maharashtra), Ujjivan Small Finance Bank, and Vascon Engineers will be in focus ahead of September FY23 quarter earnings on November 7.
Stocks in News
State Bank of India
The country’s largest bank reported highest ever quarterly net profit at Rs 13,265 crore, growing 74 per cent YoY as loan loss provisions fell sharply by 25 per cent during the same period. Its operating profit for Q2FY23 at Rs 21,120 crore increased 16.82 per cent YoY and net interest income rose by 12.83 per cent YoY to Rs 35,183 crore with loan book growing 20 per cent and deposits rising 10 per cent in the same period.
The homegrown auto major said it has increased prices of its passenger vehicles with effect from November 7. The weighted average increase will be 0.9 per cent, depending on the variant and model.
Bank of Baroda
The public sector undertaking recorded a 59 per cent YoY growth in profit at Rs 3,313 crore for the quarter ended September FY23 as total provisions at Rs 1,628 crore fell by 41 percent YoY and other income fell 18.4 per cent to Rs 745 crore in the same period. Net interest income for the quarter jumped 34.5 percent YoY to Rs 10,174 crore, with global deposits rising 13.6 per cent and global advances growing 19 per cent YoY.
Power Grid Corporation of India
The state-owned company reported 8 per cent year-on-year growth in consolidated profit at Rs 3,650 crore for the quarter ended September FY23, with EBITDA growing 3.4 per cent YoY to Rs 9,426 crore in the same quarter. Revenue from operations at Rs 11,151 crore increased by 8.6 per cent compared to the year-ago period.
The food company recorded a 28.5 per cent year-on-year growth in consolidated profit at Rs 490.6 crore for the quarter ended September FY23, driven by strong operating performance and top line. Consolidated revenue from operations at Rs 4,379.6 crore for the quarter increased by 21.4 per cent compared to year-ago period aided by mid-single-digit volume growth, with market share reaching to new 15-year high. EBITDA at Rs 711.7 crore for the quarter grew by 27.5 per cent and margin expanded by 78 bps YoY to 16.25 per cent in Q2FY23.
The airport lounges access aggregator clocked a massive 745 per cent on-year growth in profit at Rs 14.78 crore for the quarter ended September FY23 as operating and top line numbers were strong. Revenue from operations grew by 183 per cent to Rs 171.24 crore during the quarter YoY, while EBITDA increased by 195 per cent to Rs 21.1 crore and margin nearly doubled to 12.33 per cent compared to same period last year on healthy growth in number of passengers availing lounge access & other touchpoints.
TVS Motor Company
The two-and-three-wheeler company reported a 59.3 per cent year-on-year increase in consolidated profit at Rs 373.4 crore for the quarter ended September FY23 supported by strong operating as well top line performance. Revenue for the quarter at Rs 8,561 crore increased by 32 percent compared to same period last year and EBITDA rose by 31 per cent to Rs 737 crore during the same period.
The IndiGo operator posted loss of Rs 1,583 crore for the quarter ended September FY23 (including foreign exchange loss of Rs 1,201.5 crore), widening from Rs 1,435.7 crore in same period last year, as EBITDAR fell 33 per cent to Rs 229.2 crore during the same period on higher fuel prices, but revenue from operations increased by 122.8 per cent YoY to Rs 12,497.6 crore during the quarter.
The company recorded a 30.3 per cent year-on-year growth in consolidated profit at Rs 835 crore for the quarter ended September FY23 despite higher input cost, supported by strong operating performance and top line growth. Total income for the quarter grew by 22 per cent YoY to Rs 9,224 crore with jewellery business growing 18 per cent, and watches & wearables segment showing a 21 per cent growth YoY.
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