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Wednesday, September 28, 2022

RIL, Biocon, UltraTech, JSW Steel, RBL Bank, and Others

The bulls remained in control of markets which rose half a per cent in the previous session, continuing the uptrend for the fifth consecutive session. It so far rallied more than 9 per cent from its 52-week lows touched in June. All sectors, barring pharma, contributed to the rally. The BSE Sensex climbed 284 points to 55,682, while the Nifty50 jumped 84.5 points to 16,605.

Results Today

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.

Stocks in Focus

NLC India

The company said the board has approved an investment proposal for establishing Mine III (peak capacity-11.50 MTPA & normative capacity- 8.71 MTPA) in Neyveli, Tamil Nadu at an estimated cost of Rs 3,755.71 crore, and also an 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.

ICICI Securities

The company recorded a 12 per cent 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 per cent at Rs 367 crore. Revenue grew by 6.5 per cent 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 & efficacy of its products.

JSW Energy

The energy company recorded a 179 per cent year-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 per cent YoY to Rs 3,115 crore and EBITDA increased by 34 per cent to Rs 1,111 crore for the quarter.

IndiaMART InterMESH

The company reported a 47 per cent YoY decline in consolidated profit at Rs 47 crore on lower operating income. Revenue grew by 7 per cent YoY to Rs 226 crore and EBITDA fell by 28 per cent to Rs 64 crore in quarter ended June 2022. EBITDA margin contracted to 29 per cent from 49 per cent YoY.

Cyient

The company clocked a 0.9 per cent 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 per cent QoQ and 18.1 per cent YoY. Constant currency revenue growth stood at 4.4 per cent QoQ and 15.8 per cent YoY. Group and services order intake grew by 18 per cent YoY.

RBL Bank

The private sector lender has reported a profit of Rs 201 crore for the quarter ended June 2022, against a loss of Rs 459 crore in the same period last year, aided by 82 per cent decline in provisions. Net interest income grew by 6 per cent YoY to Rs 1,028 crore, but other income fell 6 per cent to Rs 614 crore for the quarter. Advances grew by 7 per cent and deposits registered a 6 per cent growth YoY.

SRF

The chemical company said profit after tax (PAT) increased by 54 per cent YoY to Rs 608 crore in Q1FY23, backed by revenue and operating performance. Consolidated revenue grew by 44 per cent YoY to Rs 3,895 crore in Q1FY23, and earnings before interest and tax (EBIT) increased 58 per cent YoY to Rs 938 crore during the quarter.

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