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Stocks to Watch, June 26, 2023: IndusInd Bank,Ipca Lab,Infosys, ICICI Securities,HDFC Life

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Equity benchmark indices are staring at a muted start on Monday as global investors remain cautious after an armed coup by the Wagner Group was prevented in Russia against President Vladimir Putin. 


At 7:30 am, the SGX Nifty was largely flat, quoting at 18,720 levels.


Asia-pacific markets were mixed this morning with Nikkei, Hang Seng and Strait times gaining up to 0.7 per cent, while S&P/ASX 200, Shanghai Composite and Shenzhen Component fell 0.2-0.7 per cent.


In the US on Friday, the Dow fell 0.65 per cent, the S&P 500 slid 0.77 per cent and the Nasdaq shed 1.01 per cent. 


Brent crude rose 0.4 per cent to $74 per barrel as the averted civil war in Russia raised concerns of political instability. 

Meanwhile, here are some stocks to watch out in trade today: 

IndusInd Bank: The Hinduja Group is in talks to invest Rs 10,000 crore to hike its stake in IndusInd Bank, according to a media report. Hinduja Group is likely to increase its stake from 17 per cent to 26 per cent, reported Economic Times. The deal is likely to be completed by the second half of FY24.


HDFC Life: The investigative wing of the Central Board of Indirect Tax and Customs (CBIC) has slapped a show cause-cum-demand notice on HDFC Life Insurance Company for an amount of Rs 942.18 crore. This notice pertains to charges of wrongly availing the input tax credit without the underlying supply of services.

ICICI Securities: Private lender ICICI Bank will hold a board meeting on Thursday, June 29 to consider a proposal for delisting the equity shares of its broking arm ICICI Securities.


Ipca Laboratories: The US Food and Drug Administration (US FDA) has issued Form 483 with 8 observations for company’s Pithampur formulations manufacturing facility in Madhya Pradesh. The USFDA inspected the facility during June 15-23, 2023.

Infosys: The company said was cooperating with an Australian government investigation into ‘tainted contracts’. The software major has also reportedly cut off ties with lobbying firm Synergy 360 – which was reportedly paid $16 million over 5 years to help Infosys grow its business in Australia. An investigation was launched last year amid claims that former MP Stuart Robert had helped the lobbying firm and its client win government contracts.


Aurobindo Pharma: European Medicines Agency’s (EMA) committee for medicinal products for human use (CHMP) has accepted the firm’s arm CuraTeQBiologics’ request to withdraw EU marketing authorisations application of ZEFYLTI & DYRUPEG. 


Asian Paints: The paint manufacturer has acquired additional 11 per cent equity stake in Obgenix Software (brand name White Teak) for Rs 54 crore, from its promoters. The company now holds 60 per cent stake in White Teak, up from 49 per cent earlier. 


Axis Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 30 lakh on Axis Bank for violation of credit card rules.


Rail Vikas Nigam: The company has emerged as the lowest bidder a project of design and construction of elevated metro viaduct, from Maharashtra Metro Rail Corporation. The cost of project is Rs 394.9 crore and the project is expected to be executed in 30 months.

Yes Bank: Its board has approved borrowing/raising funds in Indian/foreign currency for up to an amount of Rs 2,500 crore by an issue of debt securities including but not limited to non-convertible debentures and bonds.

Zydus Life: The company’s arm Zydus Animal Health And Investments will acquire a 6.5 per cent stake in Mylab for Rs 106 crore. 


Grasim Industries: The Aditya Birla Group company said the Finance Committee of the Board of Directors has approved the issue of non-convertible debentures on private placement basis, for an amount up to Rs 2,000 crore, in one or more tranches.

Avantel: The board has approved a stock split of its share from 1 into 5 equity shares having face value of Rs 2 each fully paid-up, subject to the approval of shareholders of the company.

REC: The firm will provide Rs 3,045 cr financial aid to Bangalore Metro Rail Corporation Limited for Phase-2 of metro.


Godrej Properties: The company has acquired approximately 15 acres of land in Gurugram, Haryana through an outright purchase, for the development of premium residential apartments

Jammu & Kashmir Bank: The RBI has imposed a monetary penalty of Rs 2.50 crore on the bank for non compliance with certain directions issued on creation of a central repository of large common exposures-across banks.


AU Small Finance Bank: The board will meet on June 29, 2023 to consider raising of funds by issue of equity shares through private placement or qualified institutions placement (QIP) or preferential allotment or through a combination thereof or any other alternative mode.



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RIL, Adani Ent, HDFC, Airtel, BoB, IOC


Stocks to Watch on Tuesday, May 16: Asia-Pacific shares are trading mixed on Tuesday. Hong Kong’s Hang Seng index climbed 0.72 per cent in early trade, while the Shanghai Composite was marginally lower. In Japan, the Nikkei 225 rose 0.74 per cent, while South Korea’s Kospi advanced 0.37 per cent. 


At 7:40 AM, SGX Nifty was up 45 points at 18,449.

China’s industrial output data for April, however, came lower than expected at 5.6 per cent. Markets were pricing-in growth of 10.9 per cent.

Overnight, the S&P 500 added 0.3 per cent, while the Dow Jones Industrial Average advanced 0.14 per cent. The tech-heavy Nasdaq Composite led gains, rising 0.66 per cent.

Here is a list of stocks that will be in focus today, May 16:

Q4FY23 earnings today


Bharti Airtel, LIC Housing Finance, Max Healthcare Institute, Bank of Baroda, Indian Oil Corporation, Jindal Steel & Power, JK Paper, Creditaccess Grameen, Alicon Castalloy, Amber Enterprises India, Aurionpro Solutions, Automotive Axles, Chemplast Sanmar, EIH Associated Hotels, Excel Industries, Granules India, Indo Rama Synthetics (India), Jubilant Ingrevia, Kajaria Ceramics, Kaynes Technology India, Metropolis Healthcare, Morepen Laboratories, MPS, Mukand, Navneet Education, Oberoi Realty, Paras Defence And Space Technologies, Prakash Industries, Redington, Safari Industries (India), Shanti Educational Initiatives, Sirca Paints India, Siyaram Silk Mills, Triveni Turbine, TV Today Network, V-Mart Retail.

March quarter results reaction


Suryoday Small Finance Bank: It posted a net profit of Rs 38.9 crore in fourth quarter ended March 2023 (Q4FY23) as against a net loss of Rs 48.1 crore in Q4FY22. The lender’s net interest income rose by 43.5 per cent year-on-year to Rs 210 crore, while other income rose by 69.5 per cent YoY to Rs 33.92 crore.

PVR Inox: Multiplex firm PVR Inox Ltd, on Monday, reported a widening in consolidated net loss at Rs 333 crore for the March quarter. The company reported a net loss of Rs 105 crore a year ago. The company’s consolidated total revenue from operation rose by 113 per cent to Rs 1,143 crore for the March quarter as compared to Rs 536 crore in the year-ago period.


Berger Paints: The company, on Monday, posted a consolidated net profit of Rs 186 crore for the March quarter, down 15 per cent from Rs 221 crore posted a year ago. The company’s consolidated revenue from operation rose by 11.7 per cent YoY to Rs 2,444 crore.

Pfizer: Drug firm Pfizer, on Monday, posted a consolidated net profit of Rs 130 crore for the March quarter, higher by 3 per cent YoY. Total income increased to Rs 604 crore as compared with Rs 567 crore in the year-ago period.


Karur Vysya Bank: Karur Vysya Bank, on Monday, posted a 59 per cent rise in net profit at Rs 338 crore for Q4FY23, compared to Rs 213 crore during the same time in FY22. The bank’s gross non-performing assets (NPA) in Q4 FY23 declined to 2.27 per cent (Rs 1,458 crore) as compared to 6.03 per cent (Rs 3,431 crore) a year ago. 

News reactions


Reliance Industries, ONGC: The government has cut windfall tax on petroleum crude to zero from Rs 4,100 per tonne with effect from May 16, according to a government notification. The windfall tax on petrol, diesel and aviation turbine fuel (ATF) was left unchanged at zero.

HDFC: Mortgage lender HDFC will raise up to Rs 8,000 crore by issuing bonds on a private placement basis to shore up its resources. The unsecured redeemable non-convertible debentures (NCDs) issue will have a base size of Rs 3,000 crore with an option to retain over-subscription of up to Rs 5,000 crore.


HCL Technologies: The information technology company has expanded its long-standing partnership with SAP. As part of the expanded collaboration, HCLTech has become a customer of and a global strategic service partner for SAP SuccessFactors Human Experience Management Suite (SAP SuccessFactors HXM Suite).

Adani Enterprises: The Ministry of Finance, on Monday, differed with market regulator Sebi over Adani-Hindenburg row, and said it stands by its reply to Parliament in July 2021. Government had then stated that Securities and Exchange Board of India was investigating some Adani Group companies.


Wipro: It has announced that its FullStride Cloud Studio has partnered with Google Cloud’s Rapid Migration Program (RaMP) to help clients accelerate their journey to the cloud and pursue a migration strategy anchored in business outcomes. 

Indiabulls Housing Finance: The company’s Board of Directors will meet on May 22 to consider issuance of secured and/or unsecured bonds, in one or more tranches to raise funds. It will also consider and approve audited financial results of the company for the quarter and financial year ended March 31, 2023.


Ultratech Cement: Ultratech Nathdwara Cement, the company’s wholly owned subsidiary commissioned a brownfield cement facility with annual capacity of 0.8 million tonnes in Neem Ka Thana, Rajasthan. The company’s total grey cement manufacturing capacity now stands at 129.95 million tonnes per annum.

NIIT: The company bought remaining 10 per cent stake in RPS Consulting for a fixed consideration of Rs 15 crore, and a performance based earnout consideration of up to Rs 3.71 crore, payable over the next two years. NIIT now owns 100 per cent stake in RPS Consulting.
Banswara Syntex: The Board has approved Kavita Gandhi as a Chief Financial Officer of the Company.


Jay Shree Tea: The Board of Director is scheduled to meet on May 23 to consider and approve financial results for Q4FY23, and scheme of arrangement, for demerger of Sholayar/Kallyar estates to a 100 per cent subsidiary Bidhannagar Tea Co. Private Ltd.

Somany Ceramics: The Board will meet of May 23 to consider issuance of non-convertible debentures (NCDs)/Bonds/other similar instruments on Private Placement basis. 


NTPC: The National Thermal Power Corporation (NTPC) Ltd will begin a feasibility study for a 130-MW floating solar power plant on Dumbur Lake in Tripura’s Gomati district.


Stocks in F&O ban: BHEL, Delta Corp, GNFC, Punjab National Bank



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Stocks to watch: Adani Enterprises, UPL, Zee Ent, Hero Moto, Tata Motors



Stocks to watch today: A positive start is likely for the Indian equity markets on Friday amid mixed global cues. At 7:40 am, the SGX Nifty Futures quoted 17,601 levels, up over 50-odd points.


Globally, the US markets saw minor recovery on Thursday. Dow Jones climbed over 150 points, to close 0.4 per cent higher, while the S&P 500 gained 0.3 per cent. NASDAQ Composite, however, dropped to 0.2 per cent. Further, the US equity futures were flat on Friday ahead of the US jobs report.


Asia-Pacific markets, too, were volatile in Friday’s early trade. Nikkei 225, Kospi, Kosdaq, S&P 200 advanced up to 0.9 per cent.


Meanwhile, back home, here is a list of stocks that will see some action in trade on Friday:


Adani Enterprises: The conglomerate is set to enter the NSE Nifty50 index, replacing Shree Cement at the exchange. Factors like free float market capitalization drove changes and will be effective from September 30, 2022. According to Edelweiss Securities, the inclusion of Adani Enterprises on the Nifty50 could result in a net inflow of around $213 million, while Shree Cement will see an outflow of $87 million. READ MORE


UPL: The company elevated Mike Frank to Chief Executive Officer (CEO) and will include him in the member of the UPL’s Group Protection Board of Directors. Frank had joined the company earlier this year, as President and Chief Operating Officer of UPL’s Crop Protection business based out of their London headquarters. READ MORE


Hero MotoCorp: The two-wheeler major reported 92 per cent increase in total sales at 4.6 lakh units in August 2022 from 4.5 lakh units, in the year-ago period. Exports, however, declined to 1,868 units from 22,742 units in the corresponding period of last year. The company expects growth momentum to sustain on the back of festive season trends, better monsoon leading to healthier crop produce, and positive consumer sentiments. READ MORE


InterGlobe Aviation: According to the Directorate General of Civil Aviation (DGCA), an IndiGo aircraft enroute to Udaipur returned to New Delhi due to engine vibrations and the plan was grounded. The flight was operated by an A320 neo aircraft, which did an air turnback after there were vibrations in engine 2. The DGCA will conduct a detailed probe into the incident. READ MORE


Aurobindo Pharma: The pharma major’s wholly-owned arm, CuraTeQ Biologics, plans to invest around Rs 300 crore on capacity expansion of biologics manufacturing facilities. The board of CuraTeQ Biologics approved establishment of another mammalian cell culture manufacturing facility of higher capacity to fulfill future needs. Besides, the company also approved contract manufacturing operations for biologics. READ MORE


Indian Bank: The state-owned bank revised marginal cost of funds-based lending rates (MCLR) by 0.10 per cent across tenors. It has also revised the lending rates benchmarked on treasury bills. The benchmark one-year MCLR will be 7.75 per cent from September 3, as against the existing rate of 7.65 per cent.


LIC: The insurer plans to raise market share in non-participating insurance products and diversify their channel mix. With a market share of 65 per cent, Life India Insurance (LIC) offers 17 individual participating products, 17 individual non-participating products, 11 group products and 7 products with rider benefits.


Zee Entertainment: The company wrote to the Competition Commission of India (CCI) for permission to merge operations with Sony Entertainment. The company shared TV viewership market share data for the fiscal year ending March 2022 and year-to-date data of the ongoing financial year – FY23. The latest data suggested that the merged entity would have lower market share and not lead to any concentration of power.


Tata Motors: The automaker saw total sales surge 36 per cent to 78,843 units in August from 57,995 units in the same month of the previous year. Total domestic sales, too, increased 41 per cent to 76,479 units in August 2022 from 54,190 units in August 2021.





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Stocks to watch: Bata India, Page Inds, NMDC, Apollo Hospitals, Oil India



Stocks to watch today: After the markets notched four-month high in the last session, they are likely to open range-bound on Friday. As of 7:25 AM, the SGX Nifty Futures quoted 17,678 levels, up 19-odd points on the Nifty50.


Globally, the US markets were choppy in trade on Thursday. Dow Jones was up 0.08 per cent, while the S&P 500 declined 0.07 per cent, and NASDAQ Composite dropped 0.5 per cent.


Asia-Pacific markets, too, lost in tandem on Friday’s morning trade. While Australia’s S&P 200 shed 0.5 per cent, South Korea’s Kospi was flat.


Meanwhile, back home, here is a list of stocks that may see some action in trade on Friday:


Results today: Life Insurance Corporation of India, ONGC, Grasim Industries, Divi’s Laboratories, Hindustan Aeronautics, Info Edge, Hero MotorCorp, Muthoot Finance, Sun TV, Bharat Dynamics, and Balaji Amines will report their June quarter results (Q1FY23) on Friday, August 11.


Page Industries: The apparel manufacturer reported multi-fold increase in their net profit to Rs 207.3 crore in Q1FY23 as against Rs 10.0 crore in the year-ago period. The company’s revenue from operations, meanwhile, was up over two-fold to Rs 1,341.6 crore. Total expenses, too, doubled to Rs 1,070 crore as against Rs 490.57 crore earlier. READ MORE


Apollo Hospitals: The company posted 35 per cent year-on-year (YoY) drop in net profit to Rs 323.7 crore in Q1FY23 as against Rs 500.6 crore in the year-ago period. Revenue from operations, too, saw marginal drop of 1 per cent to Rs 3,795.6 crore in Q1FY23 from Rs 3,760.21 crore. While Apollo’s healthcare segment was up 5 per cent YoY, pharmacy distribution was down 3 per cent on a yearly basis. READ MORE


Bata India: The footwear brand saw 71.82 per cent yearly surge in consolidated net profit to Rs 119.37 crore for Q1FY23 as against Rs 69.4 crore in the corresponding quarter of previous fiscal. The revenue from operations up over three-fold to Rs 943.01 crore in Q1FY23. Going forward, the management plans to scale up digital channels and expand in Tier-2 or 3 towns. READ MORE


Godrej Properties: The realty firm plans to launch a luxury housing project in New Delhi’s Ashok Vihar in 2022. The project has the potential to generate about Rs 8,000 crore sales in revenue. Before the launch, the firm is waiting for some pending government approvals to launch this 27-acre luxury residential project in Delhi-NCR. READ MORE


NMDC: The state-run firm hiked prices of lump ore by Rs 200 a tonne and fines by Rs 100 per tonne. The company has fixed prices of lump ore at Rs 4,100 per tonne and fines at Rs 2,910 a tonne. In July, the company had slashed prices of lump ore and fines by Rs 500 per tonne each to Rs 3,900 and Rs 2,810, respectively. READ MORE


Oil India: The state explorer clocked tripling of its net profit to Rs 1,555.4 crore in Q1FY23 from Rs 507.9 crore, a year ago, on the back of oil and gas price realization. The earnings were also aided by 4 per cent rise in crude oil production at 0.78 million tonnes and 8 per cent rise in gas output at 771 million standard cubic metres.


Allcargo Logistics: The logistics firm reported over two-fold growth in its consolidated profit after tax (PAT) to Rs 280 crore in Q1FY23 as against Rs 106 crore in Q1FY22. The company’s consolidated revenue during the first quarter of FY23, on the other hand, rose 65 per cent to Rs 5,675 crore from Rs 3,449 crore in Q1FY22.


Aurobindo Pharma: The pharma company’s consolidated net profit was down 32.4 per cent YoY to Rs 520.5 crore in Q1FY23 from Rs 770 in the first quarter of last fiscal. Revenues from operations grew .4 per cent to Rs 6,236 crore as compared to Rs 5,702 crore a year ago. Going ahead, the management plans to focus on development of specialty products pipeline.


Stocks in F&O ban: Balrampur Chini Mills and Delta Corporation were banned in the F&O ban period on Friday, August 12.





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