Stocks in the news: ICICI Bank, PVR, DLF, Kansai Nerolac, SJVN and IndusInd Bank

Stocks in the news: ICICI Bank, PVR, DLF, Kansai Nerolac, SJVN and IndusInd Bank

Nifty futures on the Singapore Exchange traded 19 points, or 0.14 per cent, lower at 13,701.50 in signs that Dalal Street was headed for a muted start on Monday. Here are a few stocks which may buzz the most in today’s trade:

Kansai Nerolac, Castrol India: Kansai Nerolac, Castrol India, Zydus Wellness, Coromandel International, Finolex Industries, MRPL, Mastek, Subex,

Infra, Reliance Capital and Rane Brake Lining are among major companies which will announce their December quarter results today.

PVR, Inox Leisure: Cinema halls across the country will be permitted to operate at full capacity from February 1 with adherence to COVID-19 safety protocols, Union Minister for Information and Broadcasting (I&B) Prakash Javadekar announced on Sunday.

ICICI Bank: The bank reported a 17.73 per cent jump in its December quarter consolidated net profit to Rs 5,498.15 crore, helped by a jump in core income but experienced a surge in bad assets from its retail loans.

Tata Motors:

swung to profits after red-ink marks on its bottomline for three consecutive quarters, with sales dashboards at Jaguar-Land Rover and the company’s Indian car business showing readings that point to a sustained recovery. Cost initiatives also helped engineer the turnaround.

SAIL: The state-owned steel maker has reported a consolidated net profit of Rs 1,468 crore in the quarter to December 2020, mainly on account of higher income. The company had a net loss of Rs 343.57 crore during the same quarter a year ago, the Steel Authority of India Ltd (SAIL) said in a BSE filing late night on Friday.

DLF: Realty major DLF’s rental arm DCCDL said it has appointed consultants, including banker, tax advisor and law firm, to prepare itself for the launch of its Real Estate Investment Trust (REIT) but the timing of the public issue will be decided by its shareholders.

IndusInd Bank: Private sector lender IndusInd Bank on Friday reported a 37 per cent decline in its December quarter net profit at Rs 830 crore on provisions for sour loans and a negligible loan growth. The bank expects a capital infusion of over Rs 2,000 crore from the promoter by February 18 and will not need additional infusion for at least six more months.

Future Retail: Future Group promoter Kishore Biyani has alleged that Amazon is “playing the dog in the manger” and trying to create a confusion about the group’s Rs 24,713-crore deal with Reliance Industries.

IDFC Bank: IDFC First Bank reported a net profit of Rs 130 crore for the third quarter ended on December 31, 2020. The bank, which came into existence recently after the merger of IDFC Bank and Capital First, had reported a net loss of Rs 1,639 crore for October-December period of 2019-20.

SJVN: State-owned SJVN has bagged a 679 MW hydro electric project in Nepal, the power ministry said in a statement on Saturday. The Nepalese government has allotted 679 MW Lower Arun Hydro Electric Project in Nepal to SJVN through international competitive bidding, SJVN Chairman and Managing Director Nand Lal Sharma said.

Shree Cements: The cement posted over two-fold jump in consolidated net profit to Rs 631.58 crore for the third quarter ended December 31, 2020. It had reported a net profit of Rs 311.83 crore in October- December period a year ago, Shree Cements said in a filing to BSE.

SBI Card: SBI Cards and Payment Services (SBI Card) on Saturday said Rama Mohan Rao Amara has taken charge as the new MD & CEO of the company. His appointment is with effect from January 30, 2021 for a period of two years subject to all the requisite approvals including that of the shareholders.

Coal India: Coal India’s dry fuel production is likely to snap a five-month growth streak to register a decline in January, owing to high pithead stock, sources said on Sunday. Coal production for the month is likely to be around 60.2 million tonnes compared with the corresponding period a year ago, when the output was at 63.11 million tonnes, they said.

Union Bank: State-run Union Bank of India on Friday reported a 37 per cent drop in its standalone net profit at Rs 727 crore in the third quarter of the current fiscal. The bank amalgamated Andhra Bank and Corporation Bank with itself from April 1, 2020. Accordingly, financials as of December 2019 and March 2020 pertains to amalgamated entity, the lender said in its investor presentation.

JK Lakshmi Cement: The cement maker reported an over two-fold increase in its consolidated net profit to Rs 118.43 crore for the third quarter ended on December 31, helped by improved efficiency and a rise in volume.

Mahindra Logistics: The company reported a 17.42 per cent jump in its consolidated profit to Rs 18.40 crore for the quarter ended December. The logistics arm of the Mahindra Group had clocked a consolidated profit after tax of Rs 15.67 crore during the third quarter of the previous fiscal, the company said in a BSE filing.

Here’s what analysts expect from the Budget for select sectors:

Healthcare: Most likely, this sector will get topmost priority in the Finance Minister’s agenda. Analysts expect higher allocation towards building a better healthcare infrastructure and for the ongoing vaccination drive. Prabhudas Lilladher expects allocation to this sector to jump 10 per cent to Rs 75,900 crore.

Stocks to watch: Apollo Hospitals, Cipla, Dr Reddy’s, Cadila Healthcare

Banking: Here the list of expectations is long. Investors expect the government to provide higher allocation towards recapitalisation of PSU banks, given RBI’s warnings about banks’ capital erosion due to the Covid impact. Investors will also look out for any announcement on creation of a development finance institution as well as a bad bank.

Stocks to watch: All PSU banks, SBI,

Automobile: The top most item for the auto sector watchers will the announcement of the much-awaited scrappage policy, which may give some demand fillip to an ailing sector. Further, tractor and two-wheeler makers will expect increased allocation towards the rural economy. Prabhudas Lilladher expects more incentives for development of electric vehicles and their adoption.

Stocks to watch: M&M, two-wheeler makers, Tata Motors

Housing: Over the years, the government has given special attention to the real estate sector given the multiplier effect it can have on the economy. Analysts expect enhanced allocation to affordable housing, extension of tax holiday for affordable housing projects till next year and a likely enhanced leeway on housing loans under the Income-Tax Act.

Stocks to watch: Brigade Enterprises, Sunteck Realty, HDFC, home finance companies

Insurance: Analysts expect the government to increase foreign direct investment limit in the sector to 74 per cent from 49 per cent currently with the retention of management in the hands of the Indian entity. Further, they expect the government to offer a special leeway for insurance retirement plans under the income-tax rules on par with those enjoyed by the National Pension Scheme.

Stocks to watch: SBI Life, HDFC Life, Bajaj Finserv

FMCG: For ITC, no news of potential cess hike on tobacco products and the proposed new cigarette policy will be good news. Besides that, the industry will be hoping for incentives for the food processing industry, which got some attention during the pandemic. If the government does go in for a hike in import duty on gold, it will be negative for jewellers, said Credit Suisse.

Stock to watch: ITC, Nestle India, Titan Company

Metals/Electronics/Chemicals: With the government’s focus on self-reliance and promoting Indian industries, these sectors will be hoping for further government support in terms of anti-dumping duty, import duties and production-linked incentives in the Budget.

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