Stocks to watch, Oct 21: HDFC Bank, Tech Mahindra, RBL, MCX, Alembic Pharma

HDFC bank reported a 5.3 per cent rise in profit to Rs 16,821 crore, with NII growing 9.9 per cent to Rs 30,107.9 crore. Gross NPA increased to 1.36 per cent, and net NPA rose to 0.41 per cent

Indian bourses are looking at a quieter open on Monday despite global peers trading in green this morning.

At 7:35 AM, GIFT Nifty Futures was down about 21 points, trading at 24,928, suggesting a flat to negative start for the markets.

In the Asia-Pacific region, markets traded higher as traders reacted to China's loan prime rate cuts. The People's Bank of China lowered the one-year LPR to 3.1 per cent and the five-year LPR to 3.6 per cent. Following the rate cuts, Japan's Nikkei 225 rose 0.16 per cent, South Korea's Kospi gained 0.6 per cent, and Australia's S&P/ASX 200 increased 0.7 per cent.

 

On Wall Street, US stock futures edged higher, with Dow futures up 0.1 per cent, and S&P 500 and Nasdaq 100 futures rising by 0.13 and 0.16 per cent, respectively. On Friday, both the S&P 500 and Dow hit all-time highs, with the S&P 500 up 0.85 per cent and the Dow climbing 0.96 per cent. The Nasdaq Composite rose 0.80 per cent.

Meanwhile, back home here are some hot stocks to watch on Monday:

HDFC Bank: The bank reported a 5.3 per cent rise in profit year-on-year (Y-o-Y) to Rs 16,821 crore for the second quarter of financial year 2024-25 (Q2FY25), with NII growing 9.9 per cent Y-o-Y to Rs 30,107.9 crore. Gross NPA increased to 1.36 per cent, and net NPA rose to 0.41 per cent YoY. Provisions dropped year-on-year but were up quarter-on-quarter. The bank plans to sell Rs 10,000 crore in HDB Financial Services shares via its upcoming IPO and completed the sale of a 91 per cent stake in HDFC Education.

RBL Bank: The bank saw a 24 per cent profit drop Y-o-Y to Rs 223 crore, though NII rose 9 per cent Y-o-Y. Net NPA grew to 0.79 per cent, and gross NPA to 2.88 per cent Y-o-Y.

MCX: The company returned to profitability with Rs 153.6 crore net profit, as revenue surged 73 per cent Y-o-Y to Rs 285.6 crore. Earnings before interest tax, depreciation and amprtisation (Ebitda) reached Rs 179.4 crore.

Dalmia Bharat: The company experienced a 60.5 per cent profit decline Y-o-Y to Rs 49 crore, with a 2.09 per cent Y-o-Y drop in revenue. Ebitda and margins also shrank.

Oberoi Realty: The real estate company posted a 29 per cent profit increase to Rs 589.4 crore Y-o-Y, with revenue up 8.4 per cent. Ebitda also grew 27.5 per cent Y-o-Y, and margins expanded to 61.6 per cent in Q2FY25.

Tata Consumer Products: The company reported a 0.04 per cent profit rise Y-o-Y to Rs 359.3 crore in Q2FY25, with a 12.9 per cent revenue increase to Rs 4,214.5 crore Y-o-Y. Ebitda grew 16.6 per cent, and margins expanded to 14.9 per cent.

UCO Bank: It reported a 50 per cent profit increase Y-oY to Rs 602.7 crore, with NII growing 20 per cent. Gross NPA fell to 3.18 per cent, and net NPA to 0.73 per cent on a Q-o-Q basis.

Kotak Mahindra Bank: The bank posted a 4.8 per cent profit increase to Rs 3,343.7 crore, with NII up 11.5 per cent to Rs 7,019.6 crore Y-o-Y. Provisions increased, while net NPA rose to 0.43 per cent Q-o-Q and gross NPA to 1.49 per cent. The bank is also acquiring Standard Chartered Bank India’s personal loan book.

Tech Mahindra: The company saw a 46.8 per cent quarterly profit jump to Rs 1,250.1 crore. Revenue grew 2.4 per cent to Rs 13,313.2 crore quarter on quarter (Q-o-Q), and Ebit rose 16.2 per cent. The company secured new deals worth $603 million.

Jindal Saw: The company saw a 33.6 per cent profit rise to Rs 475.3 crore, with revenue up 1.9 per cent Y-o-Y. Ebitda grew 13.7 per cent, and margins expanded to 16.4 per cent.

Alembic Pharmaceuticals: The company has received final approval from the US FDA for its abbreviated new drug application (ANDA) for Diltiazem Hydrochloride extended-release capsules (120 mg, 180 mg, 240 mg), used to treat hypertension.
 

Canara Bank: The Bank of Tanzania has approved the sale of assets and liabilities of Canara Bank Tanzania to Exim Bank Tanzania, which will eventually lead to the winding up of Canara Bank Tanzania.
 

KPIT Technologies: The board will consider fundraising on October 23 through equity shares or other financial instruments. Its wholly owned step-down subsidiary, PathPartner Technology GmbH, in Germany, has been voluntarily liquidated effective October 2.
 

JSW Steel: JSquare Electrical Steel Nashik, a wholly-owned subsidiary of JSW JFE Electrical Steel (a 50:50 joint venture between JSW Steel and JFE Steel Corporation), has signed a share purchase agreement to acquire a 100% stake in thyssenkrupp Electrical Steel India for Rs 4,051.4 crore.
 

JM Financial: The Reserve Bank of India has lifted restrictions imposed on JM Financial Products, a key subsidiary of the company, allowing them to resume financing against shares and debentures. The restrictions were in place since March 2023.

Godrej Properties: The company has acquired 3 acres of land in Ahmedabad with a development potential of 0.9 million square feet for premium residential apartments, estimated to have a booking value of Rs 1,300 crore.
 

Dodla Dairy: The company has completed the acquisition of a 35.23-acre land parcel in Dharashiv, Maharashtra, to set up a new plant.
 

Garden Reach Shipbuilders & Engineers: The company has received a letter of intent from the Ministry of Defence for a Rs 491 crore contract to design, develop, construct, integrate equipment, test, and supply one Acoustic Research Ship (ARS).

CG Power and Industrial Solutions: The board will meet on October 21 to consider raising funds through equity shares, debentures, warrants, preference shares, or other equity-linked securities.

Star Cement: Vinit Kumar Tiwari, the Chief Executive Officer, has resigned from the company effective October 18 due to personal reasons.
 

MOIL: The company has signed a draft joint venture agreement with Madhya Pradesh State Mining Corporation (MPSMCL) for exploration and mining activities, including value addition projects, subject to board and government approval.