Stocks to watch: ICICI Bank, RIL, UltraTech, Adani Ent, SBI Life, Petronet

Stocks to Watch Today: The markets are likely to start the penultimate week ahead of the Union Budget on a positive note as global cues were favourable this morning. At 07:10 AM, the SGX Nifty February futures quoted at 18,206 as against the spot Nifty 50 close of 18,028 on Friday.

Meanwhile, following stocks are likely to see some action in trades on Monday.

Earnings Watch: Axis Bank, Canara Bank, Concor (Container Corporation of India), Gland Pharma, HFCL, IDBI, J&K Bank, Jindal Stainless, Maharashtra Seamless, Omax Autos, Route Mobile, Selan Exploration, Shoppers Stop, Syngene International, Tata Communications and Zensar Technologies.

ICICI Bank: The bank’s net profit surged 34.2 per cent to Rs 8,311.85 crore in Q3FY23 when compared with Rs 6,193.81 crore in the corresponding quarter a year ago. Total income was up 23.9 per cent YoY at Rs 33,529.26 crore.

UltraTech Cement: The Aditya Birla Group company’s consolidated net declined 37.9 per cent to Rs 1,062.68 crore in the quarter ended December 2022 when compared with Rs 1,710.40 crore in the December 2021 quarter. Total income, however, surged 27.5 per cent to Rs 16,647.52 crore during the same period.

Adani Enterprises: Just days ahead of its Rs 20,000 crore FPO, the Group’s CFO Jugeshinder ‘Robbie’ Singh talks about the company's future business and investment plan in an interview with Business Standard. READ INTERVIEW

Reliance Industries: The Mukesh Ambani-led company reported a 15 per cent dip in consolidated net profit of Rs 15,792 crore for Q3FY23, but a tad ahead of expectations. The company has cautioned against the impact of global economic headwinds on energy demand, in a post-results conference call. READ MORE

SBI Life: The state-run insurer’s net declined 16.5 per cent in Q3FY23 to Rs 304.13 crore from Rs 364.06 crore in Q3FY22. Revenue from operations, however, jumped 30.1 per cent YoY to Rs 26,626.71 crore.

Yes Bank: The bank’s net in Q3 dropped 80.7 per cent to Rs 51.52 crore for the quarter ended December 2022 as against Rs 266.43 crore in the year ago period. Total income, however, increased 24.6 per cent YoY to Rs 7,015.18 crore.

Apollo Micro Systems: The company’s board approved stock split in the ratio of 1:10; i.e. each share with a face value of Rs 10 will be sub-divided into ten equity shares with the face value of Re 1 each.

Petronet LNG: The company booked highest-ever profit of Rs 1,181 crore in Q3FY23, up 3.2 per cent when compared with Rs 1,144 crore in the year-ago period. Turnover jumped 44 per cent YoY to Rs 46,025 crore. The company said it was able to achieve the results due to cooling global LNG prices, and operational optimisation cutting power and fuel costs. READ MORE

Wipro: The IT major has terminated 452 freshers on the grounds of performance. In a statement Wipro spokesperson said: “We had to let go of 452 freshers after they performed poorly in assessments repeatedly, even after training.

IDFC First Bank: The bank’s Q3FY23 net soared over 115 per cent to Rs 604.61 crore as against Rs 281.06 crore in Q3FY22. Total income was up 35.9 per cent YoY at Rs 7,064.30 crore.

Bajaj Auto: The two-wheeler major will launch its iconic scooter brand Chetak, in its in Europe by early 2024 by Pierer Mobility (the parent company of KTM). The company's Chakan plant has just produced its 1 millionth KTM bike. READ MORE

RBL Bank: The private bank reported 34 per cent YoY rise in Q3 net at Rs 209 crore as strong growth in net interest income bolstered the private lender’s bottomline. Net interest income grew 13.6 per cent to Rs 1,148 crore.

Punjab & Sind Bank: Net profit jumped over 24 per cent to Rs 373.24 crore in Q3FY23 as against Rs 300.82 crore in Q3FY22. Total income grew nearly 10 per cent to Rs 2,245.10 crore.

LTIMindtree: The company’s Q3 net declined 4.6 per cent YoY to Rs 1,000.70 crore, due to one-off impact of merger-related integration cost. Revenue from operations rose 25 per cent YoY to Rs 8620 crore.

HDFC Life: The private sector insurer's Q3 net grew by 15 per cent to Rs 315 crore as against Rs 274 crore in the year-ago period. Total income increased by 38.5 per cent YoY to Rs 19,693 crore.

JSW Steel: The company’s Q3 consolidated net tumbled 85.50 per cent in the December quarter to Rs 474 crore mainly on account of higher expenses. Total income, however, was up nearly 3 per cent YoY to Rs 39,322 crore.

Axis Bank: The private bank plans to raise up to Rs 5,000 crore, by way of issuance of 10-year infrastructure bonds in coming days.

Stocks in F&O ban: Delta Corp, L&T Finance Holdings and PVR are the three stocks in F&O ban period on Monday.