Stocks in Focus on Jan 24: RIL, ICICI Bank, Axis Bank & More

  • Stock Market News
Stocks in Focus on Jan 24: RIL, ICICI Bank, Axis Bank & More
Credit: © Reuters.

By Malvika Gurung -- Reliance Industries (NS: RELI ): The oil-to-telecom conglomerate posted a 41.5% surge in consolidated net profit, YoY and a 35.6% rise in the figure on a sequential basis to Rs 20,539 crore in the December quarter, while its revenue from operations climbed 52.5% YoY to Rs 2.09 lakh crore.

ICICI Bank (NS: ICBK ): The private lender’s net profit grew over 25% in Q3, led by increased NII and lower provisioning. The bank’s NII climbed 23.4% YoY to Rs 12,236.04 crore, and other income grew 6.42% to Rs 4,987.07 crore.

Vodafone Idea (NS: VODA ): The third-largest private telco’s loss widened Rs 98 crore to Rs 7,230.9 crore in Q3, on a sequential basis while its revenue rose 3.3% QoQ to Rs 9,717.3 crore.

ONGC (NS: ONGC ): The state-owned gas major’s overseas investment arm, ONGC Videsh has declared a 2019 gas discovery in a deepsea block in Brazil as commercially viable and has now entered the development stage that will bring it to production, cited the firm.

JSW Steel (NS: JSTL ): The steelmaker’s net profit surged 69% YoY to Rs 4,516 crore in Q3, backed by higher income.

SBI (NS: SBI ) Life Insurance: The insurer’s net profit rose 56% to Rs 364 crore in Q3, on a YoY basis.

IDBI Bank (NS: IDBI ): The private sector bank and a subsidiary of LIC posted a 53% jump YoY in net profit to Rs 578 crore in Q3, while its NII grew 31% YoY to Rs 2,383 crore, and NIM improved to 3.65% YoY.

Companies including Axis Bank (NS: AXBK ), HDFC AMC (NS: HDFA ), Apollo Pipes (BO: AOLL ), Burger King India (NS: BURG ), SBI Cards and Payment Services (NS: SBIC ), and Zensar Technologies (NS: ZENT ), among others will report their earnings for Q3 FY22.

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