Stocks to watch now: Reliance Industries, ICICI Bank, Tech Mahindra


Indian benchmark indices are likely to open on a flat to positive note amid mixed global cues.

The market closed lower for the fourth straight session on October 22 despite holding on to opening gains in the first half of trading session.

Sensex closed 101 points lower at 60,821 and Nifty fell 63 points to 18,114.

Here are the stocks that are likely to be in focus today.

Reliance Industries Ltd (RIL): India’s largest company by market valuation posted a solid second-quarter performance at Rs 13,680 crore net profit (attributable to owners of the company). This is 43 per cent more on a year-on-year basis than the profit worth Rs 9,567-crore reported during Q2 FY21.

Consolidated net profit of the company jumped 46 per cent year-on-year to Rs 15,479 crore in Q2FY22 against Rs 10,602 for the corresponding quarter last year.

The oil-to-telecom major’s revenue from operations grew 49 per cent to Rs 1.74 lakh crore during Q2 FY22, compared to Rs 1.16 lakh crore in Q2 FY21. The earnings before interest, tax, depreciation and amortisation (EBITDA) rose to Rs 26,020 crore, while the margin rose 15.5 per cent.

ICICI Bank: The bank reported a 30 per cent year-on-year (YoY) rise in net profit at Rs 5,511 crore for July-September quarter. The profit grew 19 per cent from Rs 4,616 crore recorded in the preceding April-June quarter.

ICICI Bank’s net interest income (NII) rose 25 per cent YoY to Rs 11,690 crore during the quarter under review, while net interest margin (NIM) expanded to 4 per cent from 3.57 per cent in the year-ago quarter and 3.89 per cent in the preceding June quarter.

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Minda Industries: The company said the investment committee of its board has given its go-ahead to second tranche of stake purchase in Strongsun Renewables Pvt Ltd. The committee approved the acquisition of 3,07,850 equity shares of the face value of Rs 10 each at a premium of Rs 70 i.e. Rs 80 per share of Strongsun Renewables Private Ltd, aggregating to Rs 2,46,28,000, according to a BSE filing.

Tata Consumer Products: The company’s consolidated net profit rose 4.62 per cent to  Rs 285.80 crore in the second quarter particularly helped by growth in domestic beverages and food businesses.

Revenue from operation rose 9.05 per cent to Rs 3,033.12 crore compared to Rs 2,781.34 crore recorded in the corresponding period last year.

Tech Mahindra: The company will announce its earnings for the quarter ended September 2021.

Dodla Dairy: The company reported a 31 per cent fall in its consolidated net profit to Rs 29.39 crore for the quarter ended September. Its net profit stood at Rs 42.56 crore in the year-ago period, according to a regulatory filing.

Total income rose to Rs 569.47 crore in the second quarter of this fiscal year from Rs 462.02 crore in the corresponding period of the previous year.