Stocks in focus: RIL, SBI, Sun Pharma, Indian Oil, Tata Motors, HDFC, RCom, Birla Tyres

The stock-specific action is likely to continue as the earnings season unfolds

Nifty futures were trading 27 points or 0.24 per cent up at 11,111.80 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Friday. Investors will react to the April-June quarter results of Reliance Industries (RIL). Also, market participants will track trends in COVID-19 cases, April-June quarter results and stock-specific developments. In the previous session, the Indian share market closed lower on account of profit booking and muted global cues. “Concerns over the rising number of COVID-19 cases continue to spook the market. The stock-specific action is likely to continue as the earnings season unfolds. Investors would also watch out for meeting outcome between the PM and key financial regulators which is likely focusing on moratoriums, single-window clearance, and MSMEs,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

Reliance Industries: Mukesh Ambani-controlled RIL reported a 31 per cent on-year rise in net profit at Rs 13,248 crore in the April-June quarter of the current fiscal. RIL’s total income fell to Rs 95,626 crore in April-June from Rs 165,199 crore in the same period a year ago. Other income increased to Rs 4,388 crore. Expenses for the company fell to Rs 87,000 crore.

SBI, Sun Pharma, IOCL: Index heavyweights such as State Bank of India, Sun Pharmaceuticals, Indian Oil Corporation Ltd, Tata Motors are set to announce their first-quarter earnings. Also, Birla Tyres, JSW Energy, Reliance Communications, Reliance Capital, Reliance Home Finance, Tata Chemicals, Tata Metaliks will also come up their Apr-Jun quarter results later in the day today.

HDFC: The company’s shareholders have approved raising up to Rs 1.25 lakh crore by issuing debentures or other hybrid instruments on a private placement basis. The approval was received at the Housing Development Finance Corporation’s annual general meeting (AGM) held through via video conference on account of the Covid-19 pandemic.

Lakshmi Vilas Bank: The Bank reported a net loss of Rs 112.28 crore for the first quarter of FY21, compared with a net loss of Rs 237.25 crore in the corresponding quarter of the last fiscal. Total income of stood at Rs 538.83 crore for the first quarter, as compared to Rs 677.17 crore, declining by 20.4 per cent.

Karur Vysya Bank: KVB posted a 45.2 per cent increase in its net profit to Rs 106 crore for the first quarter of the current fiscal, compared with Rs 73 crore in the corresponding quarter a year ago. Total income stood at Rs 1,693 crore as against Rs 1,762 crore.