Tata Motors, Maruti Suzuki, Dr Reddy’s, Bajaj Finance, HAL, SBI Life stocks in focus on monthly F&O expiry

Tata Motors, Maruti Suzuki, Dr Reddy’s, Bajaj Finance, HAL, SBI Life stocks in focus on monthly F&O expiry

Indian equity markets are likely to open higher on Thursday, monthly F&O expiry, amid strong global cues, hinted early SGX Nifty trends. Nifty futures were trading 99 points, or 0.59% higher at 16,782.50 on the Singapore Exchange, signaling that Dalal Street was headed for a positive start. “Markets will react to the outcome of the US Fed meet in early trades. Besides, the scheduled expiry of the July month derivatives contract and earnings announcements would keep the participants busy,” said Ajit Mishra, VP – Research, Religare Broking. Globally, Tokyo stocks opened higher, extending rallies on Wall Street after the US Federal Reserve announced another 75 bps interest rate hike.Stocks in focus on 28 July, Thursday

Tata Motors: The Tata Group company posted a consolidated loss of Rs 5,006.6 crore for the quarter ended June 2022, widening from Rs 4,450.92 crore a year back on account of weak JLR performance. Consolidated revenue from operations grew by 8.3% on-year to Rs 71,934.66 crore during the same period, driven by domestic business. Jaguar Land Rover revenue declined 7.6% on-quarter and 11.3% on-year to 4.4 billion pound impacted by semiconductor shortages and China lockdowns, but customer order book grew further to 2 lakh vehicles.

Bajaj Finance: Bajaj Finance reported 155% on-year rise in consolidated net profit for the quarter ended 30 June 2022, beating street estimates. Company’s net profit surged to Rs 2,533.40 crore from Rs 993.85 reported in the same quarter of the previous year. Net interest income (NII) for the quarter under review increased by 48% on-year to Rs 6,638 crore, up from Rs 4.489 crore in the year ago quarter. New loans booked during the quarter grew by 60% to 74.2 lakh as against 46.3 lakh in the corresponding year-ago quarter.. Customer franchise stood at 6.03 crore registering, a growth of 20%. The company recorded the highest ever quarterly increase in its customer franchise of 2.73 million in Q1FY23.

Maruti Suzuki: Maruti Suzuki reported a 129.76% on-year surge in net profit at Rs 1,012.80 crore in the June quarter compared with Rs 440.80 crore in the same quarter last year. Revenue for the quarter rose 50.52% on-year to Rs 25,286.30 crore compared with Rs 16,798.70 crore in the corresponding quarter last year. Sales volume for the quarter stood at 4,67,931 units as against 3,53,614 units in the year-ago quarter. Ebit margin for the quarter improved to 5 per cent, an improvement of 450 basis points over 0.5 per cent in the year-ago quarter.

Q1 Results today: Dr Reddy’s Laboratories, Nestle India, SBI Life Insurance Company, Shree Cement, Jubilant FoodWorks, Vedanta, Bajaj Finserv, Punjab National Bank, Mahindra & Mahindra Financial Services, PNB Housing Finance, SBI Cards and Payment Services, TVS Motor Company, Shriram Transport Finance, Chalet Hotels, Equitas Small Finance Bank, CMS Info Systems, GHCL, AAVAS Financiers, Intellect Design Arena, Dr Lal PathLabs, Motilal Oswal Financial Services, Nippon Life India Asset Management, NIIT, NOCIL, RITES, Sona BLW Precision Forgings, TTK Prestige, and Westlife Development will declare their June quarter earnings today.