Stocks to watch: Tata Motors, Maruti Suzuki, Asian Paints, L&T, Telecom

Stocks to watch today: The Indian equity markets are likely to witness weakness for third day in a row ahead of the US Federal Reserve’s interest rate decision. At 7:20 AM, the SGX Nifty Futures quoted 16,480 levels, down 3-odd points on the Nifty50.

Globally, the US markets were jittery on Tuesday on mixed earnings and rate hike fears. Dow Jones slipped 0.7 per cent, while the S&P 500 fell 1.1 per cent, and NASDAQ Composite dropped 1.8 per cent.

Major markets in Asia-Pacific imitated the negative global sentiments and edged lower on Wednesday morning. Japan’s Nikkei 225 declined 0.1 per cent and Hang Seng index dropped 1 per cent.

Meanwhile, back home, here are some stocks that will likely see action in trade on Wednesday:

Results today: Bajaj Finance, Maruti Suzuki, Tata Motors, United Breweries, Colgate India, Schaeffler India, Biocon, Gujarat Fluorochemicals, CG Power, Coromandel International, Laurus Labs, APL Apollo Tubes, Dixon Technologies, SKF India, Blue Dart Express, and IIFL Finance will report their June quarter results (Q1FY23).

Telecom stocks in focus: On Day 1 of India’s 5G spectrum auction, the government received Rs 1.45 lakh crore bids after four rounds. All three private telecom companies – Reliance Industries, Bharti Airtel, and Vodafone Idea bid for mid to high band airwaves, reports suggested. New entrant, Adani Data Networks is expected to bid for only for high band airwaves used in captive networks.

Asian Paints: The company reported 78.7 per cent rise year-on-year (YoY) in net profit to Rs 1,017 crore in Q1FY23 from Rs 569 crore in the year-ago period. Revenues of the paints major increased 55 per cent YoY to Rs 8,579 in Q1FY23. Meanwhile, margins expanded to 19.4 per cent from 18.1 per cent in the year-ago quarter. READ MORE

Bajaj Auto: The automaker reported better-than-expected results for Q1FY23 as net profit rose 11 per cent YoY to Rs 1,173 crore from Rs 1,061 crore. Revenue from operations rose 8 per cent YoY to Rs 8,005 crore from Rs 7,386 crore. However, the auto major’s domestic motorcycle volumes were impacted as much as 40 per cent in the domestic market due to chip crunch compared to peers that exist in the industry. READ MORE

KPIT Technologies: The company registered 41 per cent YoY growth in net profit to Rs 85.4 crore on the back of higher revenues and wider profit margins. Total income for the company increased 21.41 per cent YoY to Rs 701 crore from Rs 577 crore. That apart, operating margin widened to 19.4 per cent compared to 17.3 per cent in the same period a year ago. READ MORE

L&T: The engineering major saw 45 per cent YoY jump in consolidated net profit to Rs 1,702 crore from Rs 1,174 crore. Revenues, meanwhile, grew 22 per cent YoY to Rs 35,853 crore from Rs 29,335 crore. International orders during the quarter constituted 43 per cent of the total order inflow at Rs 17,842 crore. READ MORE

Tata Power: The company posted nearly 90 per cent YoY jump in consolidated net profit to Rs 883.54 crore in Q1FY23 driven by higher income. Total income, too, increased to Rs 14,638.78 crore in Q1FY23 from Rs 10,310.21 crore in the year-ago period. That apart, the company announced plans of consolidated capex of Rs 14,000 crore in 2022-23, including Rs 10,000 crore investment in the renewables sector. READ MORE

United Spirits: Liquor maker reported over five-fold jump in consolidated net profit to Rs 261.1 crore for Q1FY23. Meanwhile, the company had posted net profit of Rs 50.3 crore in Q1FY22. Revenue from operations rose 15.6 per cent YoY to Rs 7,131.3 crore from Rs 6,168.5 crore in the year-ago period. That said, total expenses spurted over 12 per cent in Q1 to Rs 6,864.6 crore. READ MORE

Jet Airways: The airline operator has started hiring pilots for Airbus’ A320 aircraft as well as Boeing’s 737NG and 737Max planes. Currently, the airline has just one operational aircraft in their fleet, which is B737NG. The airline intends to recommence commercial operations in the current quarter ending September.

Reliance Industries: Global brokerage firm UBS Securities upgraded the index heavyweight’s shares to ‘buy’ from ‘neutral’ with a 12-month price target of Rs 2,900 to Rs 3,150 per share. New investment opportunities are likely to drive large cash flows, analysts believe. As India commits to net-zero carbon emissions by 2070, UBS estimates $20 trillion opportunity in renewable, batteries, and hydrogen.

Union Bank of India: The private sector lender’s net profit grew 32 per cent YoY to to Rs 1,558 crore on the back of a rise in its net interest income (NII). Meanwhile, NII was up 8.11 per cent in Q1FY23 to Rs 7,582 crore from Rs 7,013 crore in Q1FY22. The asset quality profile improved as gross non-performing assets (GNPAs) dropped at 10.22 per cent in Q1FY23 from 13.6 per cent in the year-ago quarter.

Stocks in F&O ban: Delta Corporation and Indiabulls Housing Finance were stocks banned in the F&O ban period on Wednesday, July 27.


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