Market Commentary     22-Jul-24
Stock Alert
Stock Alert: Reliance Industries, HDFC Bank, Kotak Mahindra Bank, Wipro, JSW Steel, JSW Energy
Securities in F&O ban:Balrampur Chini Mills, Bandhan Bank, GMR Power and Urban Infra, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), HAL, Hindustan Copper, India Cements, Piramal Enterprises (PEL), RBL Bank, Sail, and Vedanta.

Upcoming results: Coforge, Cyient DLM, Dodla Dairy, Greenlam Industries, IDBI Bank, Indian Overseas Bank, Mahindra Logistics, Maharashtra Scooters, Mangalore Refinery & Petrochemicals, Poly Medicure, Supreme Industries, Suzlon Energy, UCO Bank, Zensar Technologies, ZF Commercial Vehicle Control System India.

Reliance Industries’ consolidated net profit declined 4.04% to Rs 17,448 crore in Q1 FY25 as against Rs 18,182 crore posted in Q1 FY24. Gross revenue rose by 11.55% year on year (YoY) to Rs 257,823 crore in the quarter ended 30 June 2024, led by O2C on higher oil & product prices and oil & gas segment with strong growth in volumes. Steady growth in consumer businesses also contributed to increase in revenue.

HDFC bank’s net profit increased 35.33% to Rs 16,174.75 crore on 44.77% jump in total income to Rs 83,701.25 crore in Q1 FY25 over Q1 FY24.

Kotak Mahindra Bank’s net profit surged 81.03% to Rs 6,249.82 crore on 18.9% rise in total income to Rs 15,675.15 crore in Q1 FY25 over Q1 FY24.

Wipro ‘s consolidated revenue declined 1% to Rs 21964 crore in Q1 FY25 as compared with Rs 22,280 crore in Q4 FY24. Net profit increased 6.3% QoQ to Rs 3,037 crore

ICICI Lombard General Insurance Company reported net profit of Rs 580.37 crore in Q1 FY25, up 48.68% as against Rs 390.36 crore recorded in Q1 FY24. Total income jumped 17.88% year on year to Rs 5,351.95 crore in the quarter ended 30 June 2024.

JSW Steel reported 64.29% decline in consolidated net profit to Rs 867 crore in Q1 FY25 as compared with Rs 2,428 crore posted in same quarter last year. Revenue from operations rose 1.73% year on year (YoY) to Rs 42,943 crore in the quarter ended June 2024.

Yes Bank’s standalone net profit jumped 46.69% to Rs 502.43 crore on 17.59% rise in total income to Rs 8,918.14 crore in Q1 FY25 over Q1 FY24.

JSW Energy’s consolidated net profit jumped 79.99% to Rs 521.76 crore in Q1 FY25 as compared with Rs 289.88 crore recorded in Q1 FY24. Revenue from operations fell by 1.65% year on year (YoY) to Rs 2,879.46 crore in the quarter ended 30 June 2024.

Patanjali Foods reported a standalone net profit of Rs 262.90 crore in Q1 FY25, steeply higher than Rs 87.75 crore posted in Q1 FY24. Revenue from operations declined 7.65% to Rs 7,173.06 crore in Q1 FY25 as against 7,767.10 crore recorded in the same period a year ago.

PVR Inox reported consolidated net loss of Rs 179 crore in Q1 FY25 as compared with net loss of Rs 82 crore in Q1 FY24. Revenue declined 8.8% YoY to Rs 1,191 crore.

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