Aarti Drugs, RBL Bank, Tata Steel, Biocon, ICICI Bank, Reliance Industries, TVS Motor, Vedanta, DLF among top stocks to track

At 8:23 AM, the GIFT Nifty was trading 24.5 points, or 0.12 per cent lower at 19,742 levels, indicating a negative start to trading on Dalal Street on Monday. 

Here's a look at the top stocks that may remain in focus today. 

Earnings today

Tata Steel, Canara Bank, HDFC AMC, TVS Motor Company, SRF, PNB Housing, and Chennai Petroleum Corporation are among some of the stocks that are expected to release their June quarter earnings today. 

Reliance Industries (RIL)

Reliance Industries Ltd, India's most valuable company, reported on Friday an 11 per cent drop in its June quarter net profit on account of weakness in the mainstay oil-to-chemical (O2C) business as well as higher finance and depreciation costs. The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 16,011 crore, or Rs 23.66 per share, in April-June - the first quarter of the current 2023-24 fiscal year, compared with Rs 17,955 crore, or Rs 26.54 per share, earned a year ago, according to a company's statement. READ MORE

ICICI Bank

Private lender ICICI Bank on Saturday reported a 40 per cent rise in standalone net profit to Rs 9,648 crore for the June 2023 quarter, helped by a decline in bad loans and an improvement in interest income. The Mumbai-based private sector lender had posted a net profit of Rs 6,905 crore in the year-ago period.

RBL Bank

On Saturday, private sector lender RBL Bank reported a 43 per cent jump in its June quarter net profit at Rs 288 crore, helped by core income growth. The city-based lender reported a 21 per cent jump in core net interest income at Rs 1,246 crore on the back of a 21 per cent growth in advances and a 0.48 per cent expansion in net interest margin (NIM) to 4.84 per cent. The other income grew 12 per cent to Rs 685 crore.

Aarti Drugs

The Board of Directors of Aarti Drugs has approved the buyback of up to 6,65,000 fully paid-up equity shares of face value of Rs 10 each of the Company ("Equity Shares") representing up to 0.72 per cent of the paid-up Equity Shares of the Company at a price of Rs 900 payable in cash for an aggregate amount of up to Rs 59,85,00,000. 

Biocon

Its arm, Biocon Biologics, said on July 21 that it was issued 8 observations by the US Food and Drug Administration (FDA) at its Insulins Manufacturing Facility in Malaysia. The US FDA issued a Form 483 listing violations after inspections between July 10 and July 20 this year. ​

Vedanta Ltd

On Friday reported a 40.84 per cent fall in its consolidated net profit to Rs 3,308 crore in the April-June quarter, dragged by lower income. Its "profit after tax before share in profit/ (loss) of jointly controlled entities and associates" was at Rs 5,592 crore in the same period of 2022-23, Vedanta Ltd said in a BSE filing. READ MORE

DLF Q1 results

 Real estate company DLF on Friday reported a consolidated net profit of Rs 527 crore for the quarter ended June 2023, marking an increase of 12.2 per cent compared with the corresponding period a year ago. The property developer's net profit exceeded analysts' estimates by a wide margin. Its revenue came in at Rs 1,423.2 crore for the June quarter, as against Rs 1,441.6 crore for the year-ago period, according to a regulatory filing. READ MORE

Paytm

Fintech firm One97 Communications, which operates under the Paytm brand, on Friday reported the narrowing of loss to Rs 358.4 crore in the April-June quarter of this fiscal. READ MORE 

Kotak Mahindra Bank 

Fourth largest private sector lender Kotak Mahindra Bank on Saturday reported a massive 67 per cent on-year jump in standalone net income at Rs 3,452 crore for the June quarter, buoyed by an overall improvement in performance especially on the margins side that scaled to near peak.

On a consolidated level, profit, which includes net gains from its subsidiaries in the brokerage/i-banking, ARC, wealth management, insurance businesses and microfinance, and NBFC, grew 51 per cent to Rs 4,150 crore, the city-based lender said in a statement. Global brokerages Morgan Stanley and Goldman Sachs are bullish on the stock. 

SpiceJet and IndiGo 

Aviation stocks will be in focus after aviation regulator Directorate General of Civil Aviation (DGCA) approved beleaguered airline Go First's budget carrier's plan to resume operations with 15 aircraft and 114 daily flights. However, the resumption plan is subject to certain conditions, it added. 

AU Small Finance Bank 

AU Small Finance Bank on Saturday reported a 44 per cent rise in net profit at Rs 387 crore in the June quarter helped by growth in interest income. The Jaipur-based lender had posted a net profit of Rs 268 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 2,773 crore from Rs 1,979 crore in the same period a year ago, AU Small Finance Bank said in a regulatory filing.

Pharma stocks

US Food & Drug Administration (FDA) completed an inspection at the Biocon Biologics Malaysia facility (July 10-20) with 6 observations and at the Aurobindo Pharma formulation unit with 3 observations. Lupin has got an FDA clearance for AIDS drugs.

IRB Infrastructure Developers 

The company plans to raise up to Rs 2,862 crore through rights issue. 

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