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Stocks to Watch Today: SBI, Future Retail, Coal India, Adani Wilmar, and Others

The Indian benchmark indices crashed and wiped out all previous two days’ gains to fall below 17,400 on the Nifty50, as hitting forty-year high by US inflation and rising oil prices weighed on the Dalal Street on Friday, February 11. All sectoral indices were under pressure.

The BSE Sensex plunged 773 points or 1.31 per cent to 58,153, while the Nifty50 declined 231 points or 1.31 per cent to 17,375 and formed bearish candle on the daily charts. As long as the Nifty holds 17,300 mark the positive bias is expected to continue, whereas 17,000 could be crucial support in coming days, experts feel.

Nifty futures on the Singapore Exchange traded 216.5 points, or 1.25 per cent, lower at 17,137.50, signaling that Dalal Street was headed for a positive start on Thursday.

 ONGC

Reported a 45 per cent year-on-year rise in its December quarter revenue to Rs 1,45,685 crore, led by higher realisation in its core oil and gas business. Net profit surged 220 per cent to Rs 11,637 crore..

TVS Motor

Promoter Sundaram Clayton on Friday sold around 95 lakh shares or 2 per cent stake in the company at an average price of Rs 635.97 apiece via open market transaction on the BSE. With this, Sundaram Clayton’s stake will fall to 50.26 per cent from 52.26 per cent earlier.

State Bank of India

The country’s largest lender expects to recover around Rs 8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal ending 31 March. During the December quarter, SBI recovered Rs 1,500 crore from written-off accounts and for the nine months during April-December FY22, the recovery amount stood at Rs 5,600 crore.

Coal India

The total dividend payout by Coal India during the current fiscal is likely to be higher than what was paid out in 2020-21 as the miner is expected to post healthy revenue and growth in profit. The miner had announced a first interim dividend at Rs 9 per share in December.

Future Retail

Lenders to Future group have agreed to halt the sale of Future Retail Ltd’s (FRL) small-format stores until the Supreme Court gives its verdict in a case between Amazon.com Inc. and the founders of Future Group over the latter’s sale of assets to Reliance Industries Ltd.

Godrej Properties

The company plans to invest around ₹7,500 crore over the next 12-18 months on acquisition and development of new real estate projects, given that it is sitting on a huge cash pile.

IDBI Bank

With Life Insurance Corp. (LIC) becoming a parent to both IDBI Bank and LIC Housing Finance, either of the subsidiaries will have to wind down its home loan business in the next 20 months, according to the Reserve Bank of India’s (RBI’s) condition while approving the insurance behemoth’s takeover of the erstwhile public sector lender. In its approval letter dated November 2, 2018, for the acquisition of additional shares by LIC in IDBI Bank, the banking regulator had said either of LIC’s associates would have to cease its housing finance business.

Eicher Motors

The automobile company will declare its December quarter results on Monday. Analysts expect the company to report a year-on-year decline in its net profit due to lower volumes and raw material inflation. Revenues are, however, expected to rise aided by higher realisations due to price hikes and better product mix. It had reported a consolidated net profit of Rs 532.6 crore in the year-ago quarter, with revenues at Rs 2,828 crore.

Coal India, Eicher Motors, Grasim Industries, SpiceJet, Adani Enterprises, Adani Wilmar, Future Retail, Jet Airways, Manappuram Finance, PC Jeweller, Spandana Sphoorty Financial are among the 989 companies that will announce their quarterly earnings on 14 February.

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