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Stocks To Watch: Axis Bank, Cipla, Bajaj Finance, Ambuja, IDFC, L&T, Bajaj Auto, Adani Ports, Maruti Suzuki

Here are the stocks to watch in trade today...

<div class="paragraphs"><p>The Bombay Stock Exchange  building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
The Bombay Stock Exchange building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Indian equity benchmarks closed higher on Tuesday led by auto, metals and consumer durables stocks. The S&P BSE Sensex index rose 0.63% to 61,350.26. The NSE Nifty 50 Index added nearly 0.8% to 18,268.40.

Earnings Post Market Hours

Axis Bank Q2FY22

  • Net profit up 86% at Rs 3,133.32 crore Vs Rs 1,683 crore. (YoY) (Bloomberg estimate: Rs 2,649.6 crore)

  • NII up 8% at Rs 7,900 crore Vs Rs 7,326 crore (YoY)

  • Gross NPA ratio at 3.53% Vs 3.85% (QoQ)

  • Net NPA ratio at 1.08% Vs 1.20% (QoQ)

Cipla Q2FY22 (Consolidated, QoQ)

  • Revenue up 0.28% at Rs 5,519.8 crore Vs Rs 5,504.4 crore (BBG estimate: Rs 5,245.5 crore)

  • Net profit down 0.47% at Rs 711.4 crore Vs Rs 714.7 crore (BBG estimate: Rs 701.2 crore profit)

  • Ebitda down 9% at Rs 1,226.2 crore Vs Rs 1,345.9 crore (BBG estimate: Rs 1.187.7 crore)

  • Margins at 22.2% Vs 24.5% (BBG estimate: 22.6%)

  • EPS at Rs 8.82 per share Vs Rs 8.86 (BBG estimate: Rs 8.75)

  • Not to proceed ahead with the scheme of arrangement. To examine transfer of India based U.S. business to Cipla BioTec and its consumer business undertaking to Cipla Health by way of a more efficient option.

Bajaj Finance Q2FY22 (Consolidated)

  • Net profit up 53.4% at Rs 1,481 crore Vs Rs 965 crore (YoY)

  • NII up 28% at Rs 5,335 crore Vs Rs 4,162 crore (YoY)

  • GNPA at 2.45% Vs 2.96% (QoQ)

  • NNPA at 1.10% Vs 1.46% (QoQ)

Torrent Pharma Q2FY22 (Consolidated, QoQ)

  • Revenue up 0.14% at Rs 2,137 crore Vs Rs 2,134 crore (BBG estimate: Rs 2,172.4 crore)

  • Net profit down 4% at Rs 316 crore Vs Rs 330 crore (BBG estimate: Rs 328.3 crore profit)

  • Ebitda down 3% at Rs 660 crore Vs Rs 677 crore (BBG estimate: Rs 683.3 crore)

  • Margins at 30.9% Vs 31.7% (BBG estimate: 31.5%)

  • EPS at Rs 18.63 per share Vs Rs 19.53 (BBG estimate: Rs 19.6)

Dr Lal Pathlabs Q2FY22 (Consolidated, QoQ)

  • Revenue down 18% at Rs 498.4 crore Vs 606.6 crore (BBG estimate: Rs 512.5 crore)

  • Net profit down 28% at Rs 95 crore Vs Rs 131.2 crore (BBG estimate: Rs 104.9 crore profit)

  • Ebitda down 25% at Rs 141.5 crore Vs Rs 189 crore (BBG estimate: Rs 151.5 crore)

  • Margins at 28.4% Vs 31.2% (BBG estimate: 29.6%)

  • EPS at Rs 11.49 per share Vs Rs 15.87 (BBG estimate: Rs 12.43)

  • To acquire Suburban Diagnostics (India) for up to Rs 1,150 crore

Ambuja Cements Q3CY21 (Consolidated, YoY)

  • Revenue up 8% at Rs 6,647.13 crore Vs Rs 6,169.47 crore

  • Net profit up 11% at Rs 890.67 crore Vs Rs 803.50 crore

  • Ebitda up 5% at Rs 1,416.34 crore Vs Rs 1,349.62 crore

  • Margin at 21.3% Vs 21.9%

IRB Infrastructure Developers Q2FY22 (Consolidated, YoY)

  • Revenue up 30% at Rs 1,465.24 crore Vs Rs 1,123.32 crore

  • Net profit of Rs 42.30 crore Vs Net loss of Rs 19.66 crore

  • Ebitda up 29% at Rs 717.64 crore Vs Rs 555.01 crore

  • Margin at 49% Vs 49.4%

  • To raise funds through preferential allotments to Ferrovial unit Cintra INR Investments BV and Bricklayers Investment Pte., an affiliate of Singapore’s sovereign wealth fund GIC.

  • Cintra to invest as much as Rs 3,180.22 crore for a maximum stake of 24.9%

  • GIC Unit to invest equity capital up to Rs 2,166.41 crore for a maximum stake of 16.9%

  • The issue price for both preferential allotments is Rs 211.79 per share

  • Founder Virendra Mhaiskar will continue as the promoter and single largest shareholder post completion of the transactions with an approximate 34% stake and will retain management control

  • The company will also monetise certain non-core assets; to sell some assets to Mhaiskar for Rs 415 crore to Rs 420 crore

Persistent Systems Q2FY22 (Consolidated, YoY)

  • Revenue up 34% at Rs 1,351.24 crore Vs Rs 1,007.74 crore

  • Net profit up 59% at Rs 161.75 crore Vs Rs 101.98 crore

  • Ebitda up 35% at Rs 224.38 crore Vs Rs 166.40 crore

  • Margin at 16.6% s 16.5%

Zensar Technologies Q2FY22 (Consolidated, YoY)

  • Revenue up 7% at Rs 1,050.60 crore Vs Rs 979.40 crore

  • Net profit at Rs 94.40 crore Vs Rs 0.50 crore

  • Ebitda down 12% at Rs 161.20 crore Vs Rs 184.20 crore

  • Margin at 15.3% Vs 18.8%

Sanofi India Q2FY22 (YoY)

  • Revenue up 10% at Rs 754.50 crore Vs Rs 686.60 crore

  • Net profit up 2.99 times at Rs 529.80 crore Vs Rs 132.90 crore

  • Ebitda up 3% at Rs 198.80 crore Vs Rs 192.20 crore

  • Margin 26.3% Vs 28%

Nippon Life India Asset Management Q2FY22 (Consolidated, YoY)

  • Revenue up 27% at Rs 327.87 crore Vs Rs 258.66 crore

  • Net profit up 47% at Rs 213.19 crore Vs Rs 145.23 crore

  • Ebitda up 42% at Rs 193.29 crore Vs Rs 136.33 crore

  • Margin at 59% Vs 52.7%

  • Declared an interim dividend of Rs 3.50 per Equity Share

Birlasoft Q2FY22 (Consolidated, YoY)

  • Revenue up 18% at Rs 1,011.68 crore Vs Rs 857.45 crore

  • Net profit up 49% at Rs 103.13 crore Vs Rs 69.12 crore

  • Ebitda up 27% at Rs 151.76 crore Vs Rs 119.45 crore

  • Margin at 15% Vs 13.9%

  • Approved interim dividend of Rs 1.50 per equity share

Mahanagar Gas Q2FY22 (YoY)

  • Revenue up 65% at Rs 907.57 crore Vs Rs 548.95 crore

  • Net profit up 42% at Rs 204.29 crore Vs Rs 144.34 crore

  • Ebitda up 36% at Rs 301.76 crore Vs Rs 221.09 crore

  • Margin at 33.2% Vs 40.3%

  • Appointed Rajesh Patel as the Chief Financial Officer w.e.f. November 1

ABB India Q2FY22 (YoY)

  • Revenue up 10% at Rs 1,778.39 crore Vs Rs 1,612.17 crore

  • Net profit up 49% at Rs 119.92 crore Vs Rs 80.74 crore

  • Ebitda up 39% at Rs 168.93 crore Vs Rs 121.4 crore

  • Margin at 9.5% Vs 7.5%

Here are the stocks to watch in trade today:

  • IDFC: IDFC Financial Holding Company writes to IDFC First Bank informing it on value unlocking plans. IDFC Financial Holding Company holds 36.50% equity in IDFC First Bank. Five-year lock-in period for IDFC Ltd as promoter of the bank ended on September 30, 2020. Post this, RBI has clarified that IDFC Ltd can exit as the promoter of IDFC First Bank. IDFC's board has approved sale of IDFC AMC, post which it will hold IDFC FIRST Bank and cash generated from sale of AMC. Actions to dispose IDFC Foundation and its underlying joint ventures also underway.

  • Union Bank of India: The bank has cut home loan rate to 6.4% for festive season. New rate to be effective from October 27. New rate applicable for new home purchases as well as balance transfers from other lenders. Home loan rate cut as the bank is seeing rising demand from customers. Union Bank of India home loan rate is now the most competitive in the industry

  • Quick Heal Technologies: Appointed Navin Sharma as Chief Financial Officer of the company.

  • Firstsource Solutions: The company has partnered with Eco-Mail to strengthen workflow digitisation for health plans amidst permanent shift to a remote workforce.

  • Earnings: Adani Ports And Sez, Larsen & Toubro, Maruti Suzuki India, Bajaj Auto, Titan Company, ITC, IndusInd Bank, Adani Enterprises, SBI Life Insurance Company, Indian Overseas Bank, Punjab National Bank, Lupin, United Breweries, United Spirits, Poonawalla Fincorp, Aegis Logistics, Balaji Amines, Cummins India, Happiest Minds Technologies, Tata Chemicals, Torrent Power, Dalmia Bharat, Deepak Nitrite, Shriram City Union Finance, Aarti Drugs, Apollo Tricoat Tubes, Arvind, Asahi India Glass, Astec Lifesciences, Greenpanel Industries, KEC International, KEI Industries, Welspun India, HIL, IIFL Finance, IIFL Wealth Management, Oracle Financial Services Software, Lakshmi Machine Works, India Grid Trust, KPR Mill, JK Paper, Mahindra Logistics, MAS Financial Services, MMTC, Phillips Carbon Black, Praj Industries, PSP Projects, Raymond, Reliance Power, Sagar Cements, SIS, SKF India, Sona BLW Precision Forgings, Tube Investments of India, TTK Prestige, Vaibhav Global, Vardhman Textiles

Offerings

  • PB Fintech, the operator of insurance aggregator Policybazaar, has filed documents for an IPO that proposes to raise as much as Rs 5,951 crore. The issue size is 6,07,30,265 shares, with a face value of Rs 2 each. The price band for issue is set at Rs 940-980 per share. The issue will open on Nov. 1 and close on Nov. 3.

Pledge Share Details

  • Jindal Steel & Power: Promoter Opelina Sustainable Services revoked pledge of 11.19 lakh shares on October 22.

  • Wockhardt: Promoter Themisto Trustee Company created a pledge of 13.50 lakh shares on October 21.

    As reported on October 26.

Trading Tweaks

  • Ex-Date Interim Dividend: Havells India, Icici Securities, Angel Broking

  • Record Date Interim Dividend: Infosys, Hindustan Unilever, Nestle India, Cyient, DCM Shriram

  • Record-Date Special Dividend: L&T Technology Services

  • Record Date Buyback: Goldiam International

  • Record-Date Bonus Issue and Stock Split: Godawari Power & Ispat

  • Record-Date Income Distribution: IRB InvIT Fund

  • Price Band Revised From 20% To 10%: IRB Infrastructure Developers, Ugro Capital

  • Move Into Short-Term ASM Framework: Ami Organics, Shoppers Stop

  • Move Into ASM Framework: Godawari Power and Ispat