Indian equity markets are likely to open in red amid weak global cues. Ahead of Friday’s trading session, SGX Nifty was deep in red, falling 147 points. Nifty futures trading with heavy losses hinting at a gap-down start for domestic indices Sensex and Nifty. Global cues were negative after Dow Jones, S&P 500, and NASDAQ all closed with losses and Asian stock markets on Friday mirrored the fall in US stocks overnight. Shares of companies like Reliance Industries, SBI Life Insurance, HDFC Life Bandhan Bank, IDBI Bank, Share India Securities, Supriya Lifescience will be in focus as they announce their December quarter earnings on Friday (21 January).
Stocks in Focus
RIL: Mukesh Ambani’s Reliance Industries Ltd is likely to see a rise in profit and revenues on the back of improvement in refining, petrochemicals and retail performance, when it reports its fiscal third quarter earnings on Friday. Analysts expect the oil-to-telecom conglomerate to post better numbers than the previous quarter. RIL is scheduled to release its October-December quarter results for the current fiscal on Friday, 21 January 2022, after market hours.
Adani Enterprises: Adani Wilmar Ltd, the equal joint venture between Adani Enterprises Ltd and Wilmar International Ltd, and the owner of the Fortune brand of edible oils, is set to go public. Adani Wilmar IPO will open on January 27 for subscription and close on January 31. The company has set the price band for its public issue at Rs 218-230 per share, valuing the company at Rs 26,287.82 crore. It plans to get listed on February 8 on exchanges. The firm has cut its IPO size to Rs 3,600 crore from Rs 4,500 crore earlier.
HUL: FMCG major Hindustan Unilever Ltd (HUL) reported a standalone net profit of Rs 2,243 crore for the December quarter, an increase of 17% from Rs 1,921 crore reported in the same quarter last year. HUL’s revenue jumped to Rs 13,092 crore from Rs 11,862 crore YoY. India’s largest consumer goods maker has gained market share in both urban and rural areas as the country emerged from coronavirus-related lockdowns.
Vodafone Idea: Telecom major Vodafone Idea lost 1.9 million subscribers in November, the steepest fall in five months, led by a loss of 1.2 million users in rural markets. This is the 36th consecutive month of decline in active subscribers for VIL. The Cash-strapped company added just 1.4 million 4G users over the past year. This is in stark contrast to Bharti Airtel’s and Reliance Jio’s 34 million and 20 million additions, respectively.
Havells India: Havells India Ltd on Thursday reported a decline of 12.7 per cent in its consolidated net profit to Rs 305.82 crore for the third quarter ended December 2021. The Consumer electrical goods maker had posted a consolidated net profit of Rs 350.14 crore in the October-December quarter a year ago, Havells said in a regulatory filing. The company’s revenue jumped to Rs 3,664.21 crore from Rs 3,175.2 crore YoY.
HDFC Life: Insurance heavyweight HDFC Life Insurance is expected to report a robust third quarter results for the financial year 2021-22 (Q3FY22) on Friday, with net premium income rising between 20-22%, according to analysts. Domestic brokerage house Motilal Oswal expects HDFC Life to declare almost 22 per cent rise in the net premium year-on-year basis to Rs 11,534.9 crore as compared to Rs 9487 crore registered in the same quarter a year ago.
PNB Housing Finance: The company reported a net profit after taxes (PAT) of Rs 651.96 crore and a net profit margin of 13.78% for the quarter ended December 31, 2021. In its quarterly earnings report, the company reported gross non-performing assets (GNPAs) of 7.64% and net NPAs of 4.87%.
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