Stocks To Watch Today: HDFC Bank, Yes Bank, ICICI Bank, Jio Financial, HPCL & More

Stocks of HDFC Bank Ltd., Yes Bank Ltd., ICICI Bank Ltd., Jio Financial Services Ltd., and HPCL Ltd. will catch investors’ attention Monday.

Earnings Post Market Hours On Friday:

Jio Financial Services (Q4)

• Total income up 96.9% at Rs 1,020 crore versus Rs 518 crore.

• Net profit down 13.9% at Rs 272 crore versus Rs 316 crore.

YES Bank (Standalone Q4)

• NII up 15.9% at Rs 2,638 crore versus Rs 2,276 crore.

• Op profit up 23.1% at Rs 1,618 crore versus Rs 1,314 crore.

• Net profit up 44.7% at Rs 1,068 crore versus Rs 738 crore.

• Provisions down 41% at Rs 188 crore versus Rs 318 crore.

• Gross NPA improved to 1.3% versus 1.5% QoQ.

HDFC Bank (Standalone Q4)

• NII up 3.2% at Rs 33,082 crore versus Rs 32,066 crore.

• Op profit up 4.8% at Rs 27,801 crore versus Rs 26,537 crore.

• Net profit up 9.1% at Rs 19,221 crore versus Rs 17,616 crore.

• Provisions down 18.3% at Rs 2,610 crore versus Rs 3,193 crore.

• Gross NPA reported at 1.15%.

• Note: The board recommended a final dividend of Rs 13 per share and approved raising up to Rs 60,000 crore via debt.

ICICI Bank (Standalone Q4)

• NII up 8.4% at Rs 22,979 crore versus Rs 21,193 crore.

• Op profit up 3% at Rs 18,199 crore versus Rs 17,664 crore.

• Net profit up 8.5% at Rs 13,702 crore versus Rs 12,630 crore.

• Provisions down 89.2% at Rs 96.2 crore versus Rs 891 crore.

• Gross NPA improved to 1.4% versus 1.5% QoQ.

• Note: The board declared an interim dividend of Rs 12 per share and renewed its fundraise limit of Rs 25,000 crore via debt.

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Stocks In Focus

• HPCL: The Petroleum Ministry has approved raising the HRRL project cost to Rs 79,459 crore from Rs 43,129 crore. The company will retain a 74% stake in the project with a total investment of Rs 19,600 crore.

• Lupin: The US FDA has issued a Form-483 with 3 observations following the conclusion of an inspection at the company’s US manufacturing facility. Lupin stated it will address the observations within the stipulated timeline.

• Cipla: The company received 2 Form 483 observations from the US FDA following a routine inspection of its Goa manufacturing facility conducted between April 6 and April 17.

• BHEL: The company has officially withdrawn its acceptance of a Letter of Intent from MB Power for the supply of boiler, turbine, and generator equipment for the Anuppur Thermal Power Project. Separately, BHEL has filed a suit in the Bengaluru Commercial Court seeking the recovery of Rs. 143 crore in claims from Raichur Power Corp related to a 1600 MW supply contract.

• Zee Entertainment: The company plans to invest Rs. 116 crore in Phantom Digital Effects to bolster its visual effects and post-production capabilities.

• Dredging Corp: The company has signed a significant Memorandum of Understanding (MoU) worth Rs. 2,157 crore with IOCL for the supply of fuel for its dredging fleet.

• Hathway Cable: The company has appointed Gurjeev Singh Kapoor as its Chief Operating Officer and CEO-designate, with him slated to fully take over the CEO role on Sept. 1.

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