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LIC, Paytm, SBI, Bharti Airtel, Reliance Infra, ONGC, Bank of India, BPCL stocks in focus on 16 August 2022

16 Aug , 2022   By : Monika Singh

LIC, Paytm, SBI, Bharti Airtel, Reliance Infra, ONGC, Bank of India, BPCL stocks in focus on 16 August 2022

Early trends on Singaporean Exchange suggest that Indian equity markets may open in green on Tuesday. Investors will return to stock markets today after a 3-day holiday. Entering the session, Nifty futures traded 58.50 points, or 0.33% higher at 17,843.40 on the Singapore Exchange, signaling that Dalal Street was headed for a gap-up start. Analysts say that markets will react to the macroeconomic data viz. IIP and CPI and other global cues in early trade on Tuesday. “The recent buoyancy on the global front combined with rotational buying across sectors are pointing towards the prevailing up move to extend further with intermediate pause Participants should align their positions accordingly,”

Stocks to watch on Tuesday, 16 August 2022

LIC: Life Insurance Corporation (LIC) on Friday reported a multi-fold increase in net profits to Rs 682.88 crore for the quarter ending June compared to a profit of Rs 2.94 crore in Q1 FY22. It may be recalled that business activity in the country had come to a virtual standstill in the June 2021 quarter during the second wave of the Covid-19 pandemic.

Paytm: After Institutional Investor Advisory Services India (IiAS), two more proxy advisory firms have advised shareholders to vote against the resolutions of One 97 Communications, the parent company Paytm, including reappointment of Vijay Shekhar Sharma as managing director. The advisories come ahead of the company’s annual general meeting scheduled for August 19.

Bharti Airtel: Bharti Airtel‘s shareholders have approved the re-appointment of Gopal Vittal as managing director of the company for a period of five years with effect from February 1, 2023.

Shriram Properties: Shriram Properties Ltd has reported a consolidated net profit of Rs 10.48 crore for the quarter ended June on better sales.

Max Healthcare Institute: Global investment firm KKR, the largest shareholder in Max Healthcare Institute, plans to exit the New Delhi-based hospital chain by selling its entire 27.54% stake for about Rs 9,000 crore.

Hindustan Copper: State-owned Hindustan Copper Ltd on Saturday posted a 25 per cent rise in consolidated net profit to Rs 57.08 crore for the quarter ended on June 30, 2022 on the back of higher income.

Reliance Infrastructure: Reliance Infrastructure (RInfra) on Saturday reported a narrowing of its consolidated net loss to Rs 66.11 crore for the quarter ended on June 30, 2022.

Coffee Day Enterprises: Coffee Day Enterprises Ltd has reported narrowing of its consolidated net loss to Rs 18 crore for the quarter ended June 30, 2022.

Piramal Enterprises: Piramal Enterprises (PEL) has received approval from the National Company Law Tribunal (NCLT) for the proposed demerger of its pharmaceuticals business and simplification of the corporate structure.

ONGC: ONGC on Friday reported a 251% year-on-year rise in its standalone net profit in the April-June quarter to 15,206 crore on the back of strong operating performance and top-line growth.

India Cements: India Cements on Friday reported a standalone net profit of Rs 76 crore for the first quarter of FY23 compared with Rs 37 crore in the corresponding period of last fiscal, registering an increase of 105%. The surge was mainly due to recomputation of the deferred tax liability of Rs 148 crore.

Bank of Maharashtra: Bank of Maharashtra (BoM) has emerged as the top performer among the public sector lenders in terms of the loan and deposit growth in percentage terms during the first quarter of 2022-23.

State Bank of India: SBI has said it expects to sustain credit growth of about 15 per cent in the current fiscal with rising demand from retail and corporate borrowers despite hardening of lending rate.

BPCL: State-owned Bharat Petroleum Corporation Ltd (BPCL) will invest Rs 1.4 lakh crore in petrochemicals, city gas and clean energy in the next five years as it looks to non-fuel businesses for growth.

Indiabulls Real Estate: Indiabulls Real Estate has cut its net debt by 54 per cent to Rs 464 crore during the three months ended June, compared to the March quarter.

Bank of India: State-owned Bank of India expects advances to grow by 10-12 per cent in the current fiscal year with corporate loans yet to pick-up, top official said in an analysts call.

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