Stocks to watch: HDFC, Sun Pharma, Dr Reddy's, STFC, TVS Motor, SpiceJet

Stocks to watch today: HDFC, Sun Pharma, and Cipla will report their June quarter results on Friday, July 29; Dr Reddy's saw 108 per cent YoY rise in consolidated net profit to Rs 1,187.6 crore in Q1.

Stocks to watch today: The Indian equity markets are likely to start on a positive note amid supportive global cues. As of 7:20 AM, the SGX Nifty Futures quoted 17,144 levels, indicating a gap-up of 215-odd points on the Nifty50.
 

Globally, the US markets were euphoric on Thursday on the back of strong corporate earnings from Apple and Amazon as well as hopes of dovish rate hikes by the US Federal Reserve. All major indexes on the Wall Street closed above 1 per cent. 
 

Major markets in the Asia-Pacific followed suit on Friday morning and edged higher in trade. While Japan’s Nikkei 225 rose 0.2 per cent, South Korea’s Kospi gained 0.6 per cent. 
 

Meanwhile, back home, here is a list of stocks that may see action in trade on Friday:
 

Results today: HDFC, Sun Pharmaceutical, NTPC, HDFC Life Insurance, Indian Oil Corporation, DLF, Cipla, Cholamandalam Investment, Torrent Pharmaceuticals, Piramal Enterprises, Ashok Leyland, YES Bank, GMR Infrastructure, Metro Brands, Grindwell Norton and Route Mobile will report their June quarter results (Q1FY23).
 

Dr Reddy’s: The pharma giant reported 108 per cent year-on-year (YoY) rise in consolidated net profit to Rs 1,187.6 crore in Q1FY23 from Rs 570.8 crore in the year-ago period due to substantial surge in income. Revenues for the company were up six per cent to Rs 5,215.4 crore compared to Rs 4,919.4 crore in the first quarter of FY22. READ MORE

PNB: The state-run bank reported 70 per cent YoY decline in standalone net profit to Rs 308.44 crore in Q1FY23 from Rs 1,023.46 crore, due to higher provisioning for bad loans and decline in interest income. Total income in the first quarter of the current fiscal fell to Rs 21,294 crore from Rs 22,515 crore in the year-ago period. READ MORE

Vedanta: The company posted 6 per cent rise YoY in net profit to Rs 5,592 crore. Meanwhile, the company's consolidated revenue increased 36 per cent YoY to Rs 38,251 crore. Despite inflationary cost pressures, the company recorded best-ever quarterly Ebitda at Rs 10,741 crore in Q1FY23. The company’s gross debt, too, rose by Rs 8,031 crore in Q1FY23. READ MORE

SBI Cards: The company’s net profit jumped 106 per cent YoY to Rs 627 crore in Q1FY23 from Rs 305 crore in Q1FY22 on the back of healthy growth in interest income and fall in impairment losses. Interest income, meanwhile, increased 20 per cent YoY to Rs 1,387 crore in Q1FY23 from Rs 1,153 crore. While retail spends grew 68 per cent YoY to Rs 45,488 crore, corporate spends surged 130 per cent YoY to Rs 14,183 crore. READ MORE

M&M Finance: On the back of fall in expenses and higher income from business operations, the company reported consolidated net profit of Rs 240 crore in Q1FY23 against net loss of Rs 1,573.40 crore in Q1FY22. Total income of the company rose to Rs 2,914 crore from Rs 2,567 crore in the year-ago period. READ MORE

TVS Motor: The Chennai-based auto major posted a consolidated net profit of Rs 305.37 crore in Q1FY23 as compared to a loss of Rs 10.55 crore in Q1FY22. The company’s revenue from operations were up 56 per cent YoY to Rs 7,315.7 crore from Rs 4,689.34 crore, a year ago. On a standalone basis, it reported a profit after tax (PAT) of Rs 321 crore as against Rs 53 crore in Q1FY22. READ MORE

Telecom stocks in focus: After 16 rounds of bidding for 5G spectrum auction, the government has fetched bids worth Rs 1,49,623 crore on the third day. According to reports, high interest continued to be seen for spectrum in 1800 MHz band in UP East circle, where Jio and Airtel were involved in intense bidding on Thursday. READ MORE

Nestle India: The FMCG major is set to acquire pet foods business of Purina Petcare India for Rs 123.5 crore. Nestle S.A. owns 100 per cent of Purina Petcare India and 62.76 per cent of Nestle India. This move will provide Nestle India access to the fast-growing pet foods business, which grew at a compound annual growth rate (CAGR) of 39.4 per cent during 2018-21.
 

Shriram Transport: The company posted four-fold increase in net profit to Rs 965.27 crore in Q1FY23 from Rs 169.94 crore in Q1FY22 due to heavy provisioning last year on account of second wave of covid-19. The company’s total income for the quarter under review saw a 10.7 per cent increase to Rs 5,149.26 crore from Rs 4,651.5 crore, a year ago. 
 

SpiceJet: The airline operator reported that a flight heading to Kandla in Gujarat safely aborted take off on the Mumbai airport's runway on Thursday as the caution alert lit up. This is at least the ninth incident of technical malfunction on a SpiceJet aircraft in the last 40 days. The management assured that all precautions were taken and all passengers along with crew were de-boarded safely.