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SUMMARY
From Kotak Mahindra Bank’s Q3 results and subsequent upgrade to Wipro’s highest dividend payout in a decade, these are the top stocks to watch out for ahead of Monday’s trading session.
1 / 10Kotak Mahindra Bank | Net profit at ₹3,304.8 crore, in-line with expectations of ₹3,287.5 crore. NII at ₹7,196.3 crore, also in-line with poll of ₹7,147.7 crore. Gross NPA at 1.5% from 1.49% in September. Net NPA at 0.41% from 0.43% in September. Provisions increase quarter-on-quarter and year-on-year. Slippages down sequentially but increase year-on-year. Deposits up 15.9% from last year and 2.6% from September. Advances up 15.1% from last year and 3.6% from last quarter. Motilal Oswal upgrades the stock to “buy” after being “neutral” for four-and-a-half years.
2 / 10Tech Mahindra | US Dollar revenue in-line with estimates of $1,581 million and down 1.4% quarter-on-quarter. Constant Currency revenue growth of 1.2% sequentially ahead of poll estimates of 0-1% growth. Net profit of ₹983 crore marginally below estimate of ₹1,081 crore. EBIT margin at 10.2% from 9.6% in September and slightly higher than the 10% poll estimate.
3 / 10Wipro: Q4 IT services growth seen between -1% to 1% quarter-on-quarter. Constant Currency revenue growth during the quarter at 0.1%, mid-point of -1% to +1% growth. EBIT margin expands by 70 basis points from last quarter. Declares interim dividend of ₹6 per share. Increases payout percentage to 70% or more of three-year profit from 45-50% earlier.
4 / 10RBL Bank | Deposits up 15.1% from last year but down 1.1% from last quarter. Advances up 13.1% from last year and 2.9% from last quarter. Net Interest Income up 2.5% from last year to ₹1,585 crore. NII down 1.8% quarter-on-quarter. Net profit down 86% from last year to ₹32.6 crore. Provisions up 159% from last year and 92.6% from last quarter to ₹1,188.9 crore. Gross NPA at 2.92% from 2.88% last year. Net NPA at 0.53% from 0.79% last year. Slippages at ₹1,309 crore from ₹1,026 crore last year.
5 / 10ICICI Lombard | Net earned premium up 17% to ₹5,045 crore. Underwriting loss of ₹152 crore from loss of ₹283 crore last year. Combined Ratio down 90 basis points to 102.7%. Net Premium written up 8% at ₹5,084 crore. Investment Income up 23% to ₹840 crore. Net profit up 68% to ₹724 crore. Solvency ratio at 2.36x from 2.57x.
6 / 10Jio Financial Services | Net profit up 0.3% to ₹294.8 crore. Revenue up 6% to ₹438.4 crore.
7 / 10Indian Hotels | Net profit up 32.6% to ₹632.5 crore. Revenue up 29% to ₹2,533 crore. EBITDA up 31.4% to ₹962.6 crore. EBITDA Margin at 38% from 37.3% last year.
8 / 10Ramkrishna Forgings | Net profit up 14.6% to ₹99.6 crore. Revenue up 7.9% to ₹1,073.8 crore. EBITDA up 5.4% to ₹231.5 crore. EBITDA margin at 21.6% from 22% last year.
9 / 10DLF | NCLT approves merger of seven arms of the company with DLF Southern Towns. Merging companies include, Amon Estates, Calista Real Estates, Chevalier Builders & Constructions, Erasma Builders & Developers, Hestia Realtors, Laraine Builders & Constructions & Snigdha Builders & Constructions.
10 / 10Ashapura Minechem | Arm signs MoU with China Railway to jointly develop its Fako Bauxite Deposits in the Kindia Region of Guinea.
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