Stocks to watch: HUL, Bajaj Auto, IDFC, Wipro, Bajaj Finserv, IB Housing

Nifty futures on Singapore Exchange traded 150 points higher at 15,766 around 8.30 am, indicating a gap-up start for the benchmark indices on Thursday.

Here are the top stocks that are likely to be in focus today:

Results Today: Forty-four companies including Hindustan Unilever, Bajaj Auto, Ultratech Cement, Biocon, Hindustan Zinc, IIFL Securities, IndiaMART InterMESH and Wockhardt will release their quarterly earnings today.

Brokerages project Bajaj Auto’s profit and revenue to more than double on a yearly basis but on quarter-on-quarter (QoQ) terms, the figures are likely to decline. Profitability is expected to be supported by a better mix, price hikes and cost-control measures. READ HERE

As for HUL, analysts say helped by the low-base effect and traction in beauty & personal care and foods & refreshment segments, the FMCG major is expected to post a 7-15% YoY rise in Q1 profit. Meanwhile, revenue projections wary between 11-21%. READ HERE

Bajaj Finserv, Bajaj Finance: Bajaj Finserv reported an over 31 per cent YoY decline in consolidated net profit at Rs 833 crore for the first quarter ended June 2021. Meanwhile, Bajaj Finance posted a 3 per cent YoY decline in net profit to Rs 843 crore for the same quarter.

IDFC, IDFC First Bank: The Reserve Bank of India has allowed IDFC to exit the IDFC First Bank after the expiry of the lock-in period of 5 years.

Allcargo Logistics: The promoter and promoter group of Allcargo Logistics has announced a plan to acquire all the equity shares held by public shareholders and voluntarily delist from the stock exchanges by making a delisting offer under the delisting regulations of the stock market regulator SEBI.

Jubilant FoodWorks: The company reported a net profit of Rs 62.6 crore for the quarter ended June as against a net loss of Rs 72.6 crore in the year-ago quarter. The company’s revenue from operations saw a 131 per cent surge in the quarter to Rs 879 crore.

Indiabulls Housing Finance: Ace investor Rakesh Jhunjhunwala acquired 2.17 percent equity stake, or 1 crore shares, in Indiabulls Housing Finance, as per the shareholding pattern of the June 2021 quarter.

Kesoram Industries: The B K Birla group will pump in Rs 100 crore in Kesoram Industries company, a company official said on Wednesday.

Rallis India: Tata group firm Rallis India Ltd on Wednesday reported a 10 per cent decline in its consolidated net profit to Rs 82.34 crore for the first quarter ended June 30. Its net profit stood at Rs 91.87 crore in the year-ago period.

Havells: Consumer electrical goods maker Havells India reported nearly four-fold jump in its consolidated net profit to Rs 235.78 crore for the first quarter ended June 2021, driven by “resilient” demand post easing of Covid restrictions.

Ceat: Tyre major Ceat on Wednesday posted a consolidated net profit of Rs 23 crore for the first quarter ended June 30, 2021 as against a net loss of Rs 35 crore for the year-ago period.

Polycab: Wires and cables manufacturer Polycab India on Wednesday reported a 36 per cent YoY decline in net income to Rs 75.3 crore for the first quarter ended June 30. On a low base, revenue grew by 93 per cent YoY to Rs 1,880.5 crore despite the challenging business environment arising out of the lockdowns.

Gland Pharma: Drug firm Gland Pharma on Wednesday reported an 11.83 per cent YoY increase in its consolidated net profit to Rs 350.7 crore for the quarter ended June 30, 2021, on account of robust sales in all markets. Consolidated revenue stood at Rs 1,153.9 crore for the quarter under consideration compared with Rs 884.2 crore in the year-ago period.

Bank of Baroda: The lender and fintech platform U GRO Capital have launched a co-lending platform Pratham, under which Rs 1,000 crore loan will be disbursed to the MSME sector in the country.

Cadila Healthcare: Drug firm Zydus Cadila said it has received tentative approval from the US health regulator to market Ibrutinib tablets used in the treatment of certain types of cancers. Further, European Medicines Agency has granted ‘Orphan Drug Designation’ (ODD) to Zydus Cadila’s Saroglitazar Mg, used in the treatment of liver disease.

Granules India: Its US-based facility Granules Pharmaceuticals, Inc (GPI) has cleared an audit by the US health regulator. The FDA issued two minor observations during the audit.

ICICI Securities: The company 61 per cent YoY jump in profit after tax (PAT) to Rs 311 crore in three months ended June 2021 on account of growth in revenue and improvement in margins. The company’s revenue rose 37 per cent YoY to Rs 748 crore in the quarter under review from Rs 546 crore in the three months ended June 30, 2020.

ICICI Prudential Life: The company reported a massive Rs 500 crore claims arising due to the coronavirus pandemic, leading to a Rs 186-crore net loss for the June quarter.

RIL, Just Dial: Reliance Retail Ventures, a subsidiary of RIL, on Tuesday purchased shares worth over Rs 1,332 crore in Just Dial Ltd, through an open market transaction.

ZEEL: ZEE Entertainment Enterprises Ltd (ZEEL) will set up a technology hub in Bengaluru to drive innovation and exponential growth for its integrated platforms.

Network18 Media: Media firm Network18 Media & Investments reported a consolidated net profit of Rs 121.51 crore for the first quarter ended June 2021. The company had posted a net loss of Rs 60.60 crore for the April-June period of the previous fiscal.

Wipro: The company launched Wipro FullStride Cloud Services, and will invest $1 billion in cloud technologies, capabilities, acquisitions and partnerships over the next three years.

Infosys: US subsidiary Infosys Public Services launched blockchain network to modernize public recordkeeping for county of Riverside in California.

CRISIL: The company reported sharply higher consolidated profit at Rs 100.80 crore in Q1FY22 against Rs 66.34 crore in Q1FY20. The revenue rose to Rs 528.51 crore from Rs 471.83 crore in year-ago period.

HCL Technologies: The company Launched HCL SoFy, the Cloud Native solution factory and HCL Now, a Cloud-Native-as-a-service offering. The two new additions will further enhance the company’s cloud offering.

JTL Infra: Board to consider stock split and fund-raising proposals on August 7.