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Stocks to Watch Today: Reliance, Vodafone Idea, PNB, ICICI Bank

24 Jan , 2022   By : Kanchan Joshi


Stocks to Watch Today: Reliance, Vodafone Idea, PNB, ICICI Bank

Here is the list of the top 10 stocks that are likely to be in focus on Monday:


Reliance Industries: Asia's richest man Mukesh Ambani-led Reliance Industries Ltd on Friday posted a consolidated net profit of Rs18,549 crore for the quarter ended 31 December, 2021 (Q3FY22). This is an increase of 41% from Rs13,101 crore reported in the year-ago period. The oil-retail-telecom conglomerate's revenue from operations rose 54% to Rs1.91 lakh crore for the reporting quarter as compared to Rs1.23 lakh crore in the same period last year. Reliance Jio Infocomm, the telecom arm of Reliance Industries, reported a net profit of Rs3,615 crore for the quarter-ended December, 2021, 9.8% higher than Rs3,291 crore in the same period in the previous financial year and 2.5% higher than Rs3,528 crore in the quarter ended September 2021.


Vodafone Idea: The telecom's loss widened in the December quarter even as the struggling telecom operator reported higher revenue and average monthly customer phone bills. Loss widened to Rs7,230.9 crore in the three months ended 31 December from Rs7,132.3 crore in the preceding quarter, while revenue rose sequentially by 3% to Rs9,717 crore from Rs9,406 crore. In the year-ago period, the company had reported a loss of Rs4,532 crore on revenue of Rs10,894.


PNB: Punjab National Bank is looking to sell its stake in Pridhvi Asset Reconstruction and Securitisation Co. Ltd and National Commodity & Derivatives Exchange Ltd, or NCDEX, to free up capital to expand lending. While PNB owns 10% in Pridhvi ARC, its stake in NCDEX is at 7.29%. The lender wants to hire legal advisers and other intermediaries to prepare the required documents and to manage the divestment process, according to a notice published by the bank. It said that it could either sell the entire stake or a portion of it by 28 February.


ICICI Bank: The bank on Saturday reported a standalone net profit of Rs6,194 crore in the December quarter of FY22, up 25.4% from Rs4,940 crore in the same period last year, owing to higher net interest income (NII) and lower provisions. Its net interest income (NII), the difference between interest earned and interest expended, rose 23% year-on-year (y-o-y) to Rs12,236 crore in the Q3 of FY22. Net interest margin (NIM), a key measure of profitability, contracted 4 basis points (bps) sequentially to 3.96%. On the other hand, the bank’s provisions were down 27% y-o-y to Rs2,007 crore.


Bandhan Bank: The bank on Friday reported a 36% rise in net profit at Rs859 crore for the third quarter ended December 31, 2021. It was Rs633 crore in the year-ago period. The net interest income (NII) rose marginally during the third quarter to Rs2,125 crore as against Rs2,072 crore in the same quarter last year.


Yes Bank: The company on Saturday reported a 76.8% year on year rise in net profit at Rs266.4 crore in October-December quarter of FY22 as compared to Rs150.7 crore profit during the same quarter last year. The private lender's profit rose 18.2 per cent on quarter on quarter basis from Rs225 crore, while operating profit was up 7.7 per cent on Q-o-Q basis and down 66.4 per cent on YoY basis.


IDBI Bank: The private sector lender on Friday reported a net profit of Rs578 crore for the three months to December, up 53% from the same period last year owing to higher net interest income and lower provisions. The Life Insurance Corporation-promoted bank’s net interest income (NII) -- the difference between interest earned and expended – stood at Rs2,383 crore at the end of the December quarter, up 31% from the same period of FY21. Its net interest margin, a key measure of profitability, was at 3.88%, 101 basis points (bps) higher on a y-o-y basis and 86 bps higher sequentially.


SBI Life: SBI Life Insurance on Friday reported a 56% rise in net profit at Rs364 crore for the third quarter ended 31 December, 2021. It was Rs233 crore in the same quarter of the previous fiscal. However, total income declined 23% to Rs20,458 crore in the quarter under review as against Rs26,551 crore in last year period.


JSW Steel: JSW Steel on Friday reported a consolidated net profit of Rs4,357 crore during the third quarter, up 62% over Rs2,681 crore reported in the last year period. Revenue from operations, meanwhile, rose 74% to Rs38,071 crore during the reporting period as against Rs21,859 crore in the same quarter last year. On Friday, JSW Steel scrip closed 2.30% lower at Rs666.80 apiece on NSE. The company reported an operating EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs9,132 crore during the third quarter, with a margin of 24%.


Tanla Platforms: Tanla Platforms Limited, India's largest CPaaS provider, today announced its financial results for the quarter three of FY'21-22. Its revenue increased by 35 per cent year-over-year to Rs8,849 million. Rge Gross profit increased by 62 per cent year-over-year to Rs2,610 million. The gross margin was at 29.5 per cent and improved by 486 basis points year-over-year.


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