RIL, HDFC Bank, ICICI Bank, Kotak Bank, Axis Bank, ITC, IOC, JSW Steel, Yes Bank stocks in focus

Analysts expect high volatility this week amid the scheduled derivatives expiry of July month contracts.

Nifty futures were trading 99.50 points or 0.63 per cent lower at 15,753 on Singaporean Exchange, suggesting a gap-down opening for BSE Sensex and Nifty 50 on Monday. Analysts expect high volatility this week amid the scheduled derivatives expiry of July month contracts. In the previous week, the 30-share Sensex fell 164.26 points or 0.30 per cent. Markets will first react to the results of index heavyweights such as Reliance Industries Ltd (RIL), ICICI Bank and ITC in early trade on Monday. “The short term trend would remain positive till Nifty is holding above the support zone of 15,450, however, the recent surge in volatility warrants extra caution in the selection of stocks and trade management. We advise limiting leveraged positions and waiting for further clarity,” Ajit Mishra, VP Research. Religare Broking said.

Stocks to watch

RIL: Mukesh Ambani-led Reliance Industries Ltd (RIL) reported Apr-Jun quarter FY22 net profit at Rs 12,273 crore, a fall of 7.25 per cent on-year. In the corresponding quarter of the previous fiscal, net profit stood at Rs 13,233 crore.

HDFC Bank: HDFC Bank’s Aditya Puri emerged as the highest grossing banker among the top three private sector lenders in his retirement year with total emoluments of Rs 13.82 crore.

ICICI Bank: Private lender ICICI Bank on Saturday reported a 78 per cent on-year (y-o-y) jump in its net profit to Rs 4,616 crore during the June quarter (Q1FY22). The bank was able to report a strong bottomline mainly on account of robust net interest income (NII) and lower provisioning.

ITC: Mostly in line with analysts’ estimates, diversified conglomerate ITC reported a healthy 28.63 per cent on-year rise in its standalone net profit to Rs 3,013.49 crore for the first quarter ended June 30, as its gross revenue from sales rose 36.55 per cent on-year.

IndusInd Bank: IndusInd Bank said it is planning to raise up to Rs 30,000 crore through a mix of equity and debt to fund its business growth.

Kotak Mahindra Bank: Axis Bank: BSE-listed firms Larsen & Toubro, Axis Bank, Kotak Mahindra Bank, Tata Motors, SBI Life Insurance, Vedanta, DLF, GlaxoSmithKline Pharmaceuticals, Coromandel International, Navin Fluorin, and Alembic Pharmaceuticals are among the company that are scheduled to announce their April-June quarterly earnings on 26 July.

IOCL: Indian Oil Corporation said that it will build the nation’s first ‘green hydrogen’ plant at its Mathura refinery. Solar and wind plants can produce green hydrogen with the help of electrolysers, and the company intends to wheel electricity from its wind power project in Rajasthan to generate hydrogen in Mathura refinery.

JSW Steel: JSW Steel beat analyst estimates on all fronts and reported its highest-ever consolidated quarterly net profit of Rs 5,900 crore for the quarter ended June.

Yes Bank: Yes Bank on Friday reported an over four-fold jump in net profit at Rs 207 crore for the quarter ended June 2021. The bank said this was its highest net profit since December 2018.