HDFC, Dr Reddy’s, IOCL, Jubilant Foodworks, SBI Life, Indus Towers, NTPC, TVS Motor Co stocks in focus

Bulls are likely to dominate Dalal Street on Friday as SGX Nifty skyrocketed nearly 200 points during the early hours of trade signalling that Indian benchmark indices are headed for a positive start.

HDFC, Dr Reddy’s, IOCL, Jubilant Foodworks, SBI Life, Indus Towers, NTPC, TVS Motor Co stocks in focus
HDFC, Dr Reddy's, IOCL, Jubilant Foodworks, SBI Life, Indus Towers, NTPC, TVS Motor Co stocks in focus today on 29 July

Bulls are likely to dominate Dalal Street on Friday as SGX Nifty skyrocketed nearly 200 points during the early hours of trade signalling that Indian benchmark indices are headed for a positive start on the week’s last trading day. In the previous session, S&P BSE Sensex zoomed 1,041 points or 1.87% to settle at 56,857 while the NSE Nifty 50 soared 287 points or 1.73% to end at 16,929. “Earnings announcements would continue to trigger stock-specific volatility. As Nifty has surpassed the critical hurdle at 16,800, we’re now eyeing 17,400. Participants should continue with a positive bias and use any intermediate pause/dip to add quality names,” said Ajit Mishra, VP – Research, Religare Broking.

Stocks in focus on 29 July, Friday

Dr Reddy’s Laboratories: The pharma company recorded a 108 per cent on-year growth in consolidated profit at Rs 1,187.60 crore for the quarter ended June 2022, backed by healthy operating performance and higher other income. Revenue grew 6 per cent on-year to Rs 5,215.40 crore in Q1FY23 due to tepid growth in North America and Europe but India growth was strong at 26 per cent on an yearly basis.

Jubilant Foodworks: Jubilant Foodworks, the master franchisee of Domino’s Pizza in India, Bangladesh, Sri Lanka and Nepal, on July 28 reported a 63 percent year-on-year growth in consolidated profit at Rs 112.6 crore for the quarter ended June 2022, driven by a low base and strong revenue and operating performance. The company has entered into Share Subscription Agreement, Shareholders’ Agreement and Share Purchase Agreement to acquire 40% stake (fully diluted basis) in Roadcast Tech Solutions. Roadcast Tech Solutions (Roadcast) offers a logistics platform for management of last-mile delivery operations.

Indus Towers: Indus Towers announced the resignation of Bimal Dayal, who was serving as the company’s managing director and chief executive officer since 2016. Dayal has decided to “pursue opportunities outside Indus Towers”, the telecom infrastructure service provider said in a regulatory filing. Dayal’s successor was yet to be named. The company said its board “took note” of Dayal’s resignation and a succession plan will be communicated in due course. His last working day with the company is under discussion. Dayal’s resignation marks an end to his 12-year tenure with Indus Towers. This includes a six-year stint as the chief operating officer, followed by a six-year stint as the MD & CEO.

TVS Motor Company: The two-and-three-wheeler maker reported consolidated profit at Rs 296.75 crore for the quarter ended June 2022, as against a loss of Rs 14.72 crore in same period last year, supported by top line and operating performance. The Q1FY22 performance was affected by second Covid wave. Revenue grew 56 per cent on-year to Rs 7,315.70 crore in Q1FY23. The board has approved the issuing of non–convertible debentures (NCDs) aggregating up to Rs 125 crore on a private placement basis.

Chalet Hotels: The company has received contract from Delhi International Airport Limited (DIAL) to develop a hotel at the T3 Terminal of Indira Gandhi International Airport (IGIA). With this, Chalet will enter the northern India market. The upcoming terminal hotel will be company’s 9th hospitality property in the country and first in northern India. The hotel will have 350-400 rooms positioned in the 5-star deluxe space. The hotel is expected to be commissioned in FY26 or earlier. Chalet posted a consolidated profit of Rs 28.5 crore for the quarter ended June 2022, against a loss of Rs 41.66 crore in year-ago period due to second Covid wave.

SBI Life Insurance Company: The life insurance company recorded a 17.78 per cent on-year growth in profit at Rs 262.85 crore for the quarter ended June 2022. Net premium income grew significantly by 32.76 per cent YoY to Rs 11,036 crore compared to corresponding period of last fiscal, but the income from investments came in at negative Rs 6,405.66 crore for the June FY23 quarter against income of Rs 7,409.91 crore YoY.

Motilal Oswal Financial Services: The company recorded a 85.85 per cent on-year fall in consolidated profit at Rs 31.26 crore for the June FY23 quarter, against Rs 221 crore in same period last year, impacted by lower top line. Revenue fell by 16 per cent YoY to Rs 753 crore during the same period as there was loss of Rs 158 crore on fair value change against gain of Rs 106 crore YoY. Even employee cost also increased by 26.3 pe rcent to Rs 232.2 crore YoY, though 80 per cent drop in impairment on financial instruments to Rs 8.55 crore supported bottomline.

Q1 Results today: HDFC, NTPC, Sun Pharma, Cipla, Indian Oil Corporation, Ashok Leyland, DLF, Emami, Exide Industries, Nazara Technologies, Piramal Enterprises, CARE Ratings, CarTrade Tech, Cholamandalam Investment, CreditAccess Grameen, Deepak Fertilisers, Easy Trip Planners, 3i Infotech, Great Eastern Shipping, GMR Infrastructure, Godrej Agrovet, Heritage Foods, JK Paper, Mahindra Logistics, Metro Brands, Rain Industries, Route Mobile, Strides Pharma Science, Star Health and Allied Insurance Company, Torrent Pharmaceuticals, VST Industries, and Zydus Wellness will declare their June quarter earnings on July 29.

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