Stocks to Watch Today: ICICI Bank, IndiGo, Ambuja, Airtel and Others

Stocks to Watch Today: After a two-day break, markets fell about 1% on Friday to continue their downward trajectory. Due to a number of news events and second quarter results, shares of Airtel, Sun Pharma, Adani Power, IDFC First Bank, YES Bank, ICICI Bank, and ITD Cementation, among others, will be the focus of today’s trading.

Findings for Today: On Monday, October 28, a number of companies will release their quarterly financial results, including Sun Pharmaceutical, Bharti Airtel, Punjab National Bank, Adani Power, BHEL, Ambuja Cements, Computer Age Management Services, Dalmia Bharat Sugar, Federal Bank, Firstsource Solutions, Indian Bank, Indian Oil Corporation, JSW Infrastructure, and KFin Technologies.

ICICI Bank: The bank’s standalone Q2 net profit increased 14.5% to Rs 11,746 crore from Rs 10,261 crore in the same time last year. While gross non-performing assets (NPA) decreased sequentially from 2.15 percent to 1.97 percent, ICICI Bank’s net interest income increased 9.5% to Rs 20,048 crore during the quarter from Rs 18,307.9 crore in the prior year. The net non-performing asset (NPA) of the firm decreased to 0.42 percent from 0.43 percent in the previous quarter.

InterGlobe Aviation: IndiGo reported a loss of Rs 986.7 crore in the second quarter, whereas the prior year’s quarter saw a profit of Rs 188.9 crore. Nonetheless, sales rose from Rs 14,944 crore to Rs 16,969.6 crore, a 13.6% rise.

Bank of Baroda: Year-over-year, the bank’s standalone Q2 profit increased by 23% to Rs 5,238 crore from Rs 4,253 crore. From Rs 10,831 crore to Rs 11,622 crore, net interest income increased by 7.3%. While net NPA decreased to 0.60 percent from 0.69 percent QoQ, gross NPA increased to 2.50% from 2.88 percent QoQ.

Coal India: Coal India recorded a 22% decrease in its consolidated Q2 earnings, which came to Rs 6,274.8 crore from Rs 8,048.6 crore the year before. EBITDA decreased 14.2% to Rs 8,617.1 crore from Rs 10,038.2 crore, while revenue decreased 6.4% to Rs 30,673 crore from Rs 32,776.4 crore. For FY25, Coal India announced an interim dividend of Rs 15.75 per share.

Torrent Pharmaceuticals: The company’s Q2 earnings increased 17.4% to Rs 453 crore from Rs 386 crore the previous year. Revenue increased from Rs 2,660 crore to Rs 2,889 crore, an 8.6% increase.

DLF: The company’s earnings increased from Rs 621.9 crore to Rs 1,381.2 crore in Q2, a 122.1 percent increase from the previous year. Compared to Rs 1,347.1 crore the year before, revenue climbed by 46.5% to Rs 1,975 crore.

Ambuja Cements: The business is getting closer to UltraTech Cement’s 10 billion tonnes of limestone reserves after increasing them to 8 billion tonnes. Strategic participation in state auctions, which resulted in the acquisition of 587 million metric tons in FY24 and an additional 275 million metric tons in Q1 FY25, is primarily responsible for the rise.

ITD Cementation India: For Rs 3,204 crore, the Adani Group’s Renew Exim DMCC is expected to purchase a 46.64 percent share in ITD Cementation. An open offer for a further 26 percent stake is also planned.

Macrotech Developers: In Q2, the company’s profits increased by 108.6% to Rs 423.1 crore from Rs 202.8 crore the previous year. Revenue increased from Rs 1,749.6 crore to Rs 2,625.7 crore, a 50.1% increase.

Bandhan Bank: The bank’s Q2 earnings increased by 30% to Rs 937 crore from Rs 721 crore in the previous year. While gross non-performing assets (NPA) increased from 4.23 percent to 4.68 percent QoQ, net interest income increased by 21 percent to Rs 2,948 crore from Rs 2,443 crore.

Yes Bank: The bank’s independent Q2 profit increased from Rs 225 crore to Rs 553 crore, a 145.6 percent increase from the previous year. Gross NPA decreased to 1.6% from 1.7% QoQ, while net interest revenue rose 14.3% to Rs 2,200 crore from Rs 1,925 crore.

Intellect Design Arena: Year-over-year, the company’s Q2 earnings dropped 26% to Rs 52.5 crore from Rs 70.8 crore. Additionally, revenue decreased by 10% to Rs 558.1 crore from Rs 619 crore.

Praj Industries: Revenue dropped 7.5% to Rs 816.2 crore from Rs 882.4 crore in Q2, while profit dropped 13.7% to Rs 53.8 crore from Rs 62.4 crore in the same period last year.

Life Insurance Corporation of India: In order to reduce risk in its non-participatory sector, Life Insurance Corporation of India (LIC) plans to join the bond forward rate agreement (FRA) market by FY25. It is projected that this action would increase demand for longer-term bonds, which might have an impact on the dynamics of the bond market.

Hindustan Zinc: Over the next years, the business intends to spend up to $2 billion to quadruple its production capacity to 2 million tons. The business is looking for mining partners and wants to gradually boost its production capacity.

NMDC: The government intends to combine Kudremukh Iron Ore Company (KIOCL) with NMDC. This might improve KIOCL’s operating efficiency, especially as it is having trouble starting up mining at Devadari again. Several government agencies will need to approve the combination.

IDBI Bank: By March 2025, the finance ministry hopes to complete the bank’s privatization. The selected bidders have received a “fit and proper” certificate from the Reserve Bank of India, and they will shortly have access to the virtual data room. A 60.72 percent share will be sold by the government and LIC.

Mahindra Lifespace Developers: The company’s consolidated net loss for the second quarter of FY2025 was Rs 14.01 crore, which is better than the net loss of Rs 18.93 crore for the same time the previous year. The firm exhibited improvement in the first half, with a net loss of Rs 1.27 crore compared to Rs 23.20 crore a year earlier, although overall income fell to Rs 16.96 crore from Rs 26.70 crore year over year.

Capacit’e Infraprojects and Signature Global: Capacit’e Infraprojects was given a Rs 1,203 crore contract by Signature Global for their “Titanium SPR” housing project in Gurugram. The first phase of the project, which contains 608 units and covers 14.382 acres, was started in June 2024.

Axis Bank: SEBI has sent the bank a cause notice in relation to its purchase of a stake in Max Life Insurance. In response, Axis Bank intends to state that the transactions were carried out with the required regulatory clearances.

Bajaj Auto: The company’s Freedom 125 CNG motorbike is selling well; in October, over 8,310 units were sold, a 68% increase. In the next quarters, there are plans to greatly increase output.

Vedanta Resources: As the firm strives to efficiently manage its debt maturities, Moody’s has raised its ratings on Vedanta’s bonds, noting better access to capital and a stable outlook.

Indian Bank: With long-term infrastructure bonds that showed high demand at 3.19 times the issue size, the bank was able to successfully raise Rs 5,000 crore. The AAA-rated bonds, which have an annual coupon rate of 7.12%, will help the bank fund infrastructure and credit expansion. Significant liquidity assistance is provided by this issuance’s exemption from the statutory liquidity ratio (SLR) and cash reserve ratio (CRR) restrictions.

Eris Lifesciences: Although sales increased to Rs 741 crore in the September quarter, the company’s profit after tax decreased by 20% year over year to Rs 97 crore. According to reports, the corporation is hopeful about reaching its sales projections of Rs 2,600 crore in domestic formulations, and the integration of acquired companies is proceeding according to plan.

SpiceJet: After initially claiming $4.5 million, the airline paid $2 million to resolve a long-running dispute with Shannon Engine Support Limited. After obtaining Rs 3,000 crore via a qualified institutional placement, the airline’s cash situation has strengthened as a result of many recent settlements. Despite these encouraging actions, wider market falls caused SpiceJet’s shares to drop 3.7% to Rs 54.10.

Larsen & Toubro: L&T has won a sizable contract worth between Rs 1,000 crore and Rs 2,500 crore to implement cutting-edge welding technology for the ITER nuclear fusion project in France. This partnership is a component of a broader global endeavor to use Fusion Energy, which is regarded as a carbon-free and sustainable energy source. An important step in energy innovation, the initiative intends to further research in plasma energy production.

Cholamandalam Investment and Finance Business: For the July–September 2024 quarter, the business recorded a strong profit after tax of Rs 967.80 crore, up from Rs 772.87 crore in the same period the previous year. A strong rise in disbursements, which increased to Rs 48,646 crore in the first half of the fiscal year, was reflected in the consolidated total revenue, which jumped to Rs 6,322.34 crore. Additionally, the company’s Total Assets Under Management (AUM) increased significantly, reaching Rs 1,77,426 crore.

NLC India: Due to growing costs, the company’s consolidated profit for the second quarter of FY2024 dropped 9.5% to Rs 982.41 crore. Nonetheless, operational income rose to Rs 3,657.27 million. The firm is committed to its primary business operations, which include electricity generation and the mining of coal and lignite.