Stocks to watch: RIL, Axis Bank, ITC, Asian Paints

Reliance Industries: The Mukesh Ambani-controlled oil-to-telecom conglomerate will report its fiscal second quarter earnings today. Reliance Industries is likely to post strong year-on-year growth in consolidated net revenue and profit for the quarter ended September. The company’s Q2 revenue is seen 2,28.1 billion and earnings before interest, tax, depreciation and amortization (EBITDA) 1,14.35 billion

Axis Bank: India’s third largest private sector lender Axis Bank on Thursday reported a consolidated net profit of Rs. 5,330 crore, up 70% for the quarter ended September 2022 3,133 crore in the year-ago quarter. The lender’s net interest income (NII) grew 31% year-on-year 10,360 crore to 7,901 crore in the last year’s quarter. The lender’s net interest income (NII) grew 31% year-on-year 10,360 crore to 7,901 crore in the last year’s quarter.

ITC: Cigarette-to-hotel conglomerate ITC on Thursday reported a 24% rise in its consolidated net profit 4619.77 crore (attributable to parent owners), for the quarter ended 30 September 2022 (Q2FY23), driven by demand for its cigarettes and snacks. it was 3,713.76 crore in the year-ago period. On a sequential basis, the FMCG major’s consolidated profit after tax (PAT) has increased by 5% 4389.76 crore in the June quarter (Q1FY23).

Bajaj Finance: Bajaj Finance reports 88 per cent growth in net profit on Thursday 2,781 crore for the September quarter. Compliance had reported a net profit of 1,481 crore in the same quarter of the previous financial year. Net interest income up 31% from 7,001 crore 5,337 crores. While its assets under management grew 31 percent 218,366 crore in the second quarter 166,937 crore in the same quarter.

Asian Paints: Asian Paints has approved setting up of a manufacturing facility for Vinyl Acetate-Ethylene Emulsion (VAE) and Vinyl Acetate Monomer (VAM) in India. around 2,100 crore will be invested over 3 years for the project. The installed capacity of the facility will be 1 lakh tonnes per annum for VAM and 1.5 lakh tonnes per annum for VAE.

Tata Consumer: Tata Consumer Products Limited (TCPL) on Thursday reported a 36.25 per cent rise in its consolidated net profit. 389.43 crore for the second quarter. The company posted a net profit of 285.80 crore for the July-September period a year ago. Revenue from operations increased 10.87%. done 3,363.05 crore during the quarter under review 3,033.12 crore in the same period last year.

GAIL: GAIL (India) Ltd has floated a swap tender offering two liquefied natural gas (LNG) cargoes for loading in the United States in lieu of two other cargoes for delivery in India, two industry sources said on Thursday. . India’s largest gas distributor is offering two cargoes for loading from the Sabine Pass terminal from 27 December to 11-20 January. It is seeking two cargoes for delivery at India’s Dabhol terminal, one between November 25 and December 15 and the other between January 1-10.

Dhanlaxmi Bank: Dhanlaxmi Bank on Thursday said its largest shareholders are seeking curbs on the spending powers of its chief executive officer, leading to a bitter shareholder battle with the private lender’s management. The Thrissur, Kerala-headquartered bank will hold an extraordinary general meeting on November 12 at the request of certain shareholders including B Raveendran Pillai, who holds 9.99% stake in the bank, it said in a regulatory filing.

Nazara Technologies: Diversified gaming and sports media platforms leveraged 16.9 crore for the quarter ended September FY23. It is up 10.5% on a year-on-year basis. Revenue up 104% 263.8 crore and EBITDA up 9.2% 21.3 crore as compared to a year ago period. The company appointed Sudhir Kamath as its new Chief Operating Officer, while Manish Agarwal resigned as CEO with effect from December 1, 2022, to pursue an entrepreneurial journey.

PNB Housing Finance: Hardayal Prasad, MD & CEO, Punjab Housing Finance has resigned. Prasad cited personal reasons. Girish Kausagi, who has been relieved of his duties as MD and CEO of Can Fin Homes, will succeed him as the next MD and CEO of the company.