Stocks To Watch Today: HDFC Bank, JFSL, Federal Bank, BoM, & More

On the trading session of Monday,16th October, here are the hot stocks to watch today: HDFC Bank, Jio Financial Services, Bank of Maharashtra, Dalmia Bharat and more.

HDFC Bank

The Board of Directors of the Bank, at its meeting held on 15th October, re-appointed Mr. Sandeep Parekh as an Independent Director of the bank for a period of 3 years from January 19, 2024 to January 18, 2027. The Board also re-appointed Mr. M. D. Ranganath as an Independent Director of the bank for a period of 3 years from January 31, 2024 to January 30, 2027. On Sunday, HDFC Bank also re-appointed Mr. Sashidhar Jagdishan as the Managing Director and Chief Executive Officer of the bank for a period of 3 years from October 27, 2023 to October 26, 2026.

Dalmia Bharat

The Board of Directors of Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of the company at its meeting held on October 14, 2023, has approved the proposal to increase cement grinding capacity by 0.5 MTPA at Rohtas Cement Works, Bihar. In Q2FY24, the company's PAT climbed 161.7% YoY to Rs 123 Cr while revenue increased 6.0% YoY to Rs 3,149 Cr. An interim dividend of Rs. 4 per share has been declared by the company's board of directors.

Skipper

The company has reported that it has received fresh orders totaling 588 crores, including 120 crores in the international T&D industry and 468 crores in the domestic T&D business from PGCIL and other customers.

Jio Financial Services

Jio Financial Services Ltd (JFSL) will declare its results today for the quarter ended 30th September 2023 or Q2FY24.

Sunteck Realty

The company has announced its business updates for Q2 & H1 FY24 and recorded pre-sales growth of 17.2% YoY in Q2 FY24 at Rs 395 Cr and the pre-sales grew by ~16.7% YoY in H1 FY24 to Rs 782 Cr. Collections for the first half stood strong at ~Rs 502 crores and it remained healthy at ~Rs 214 crores in Q2FY24. With an aggregate investment of up to Rs 750 crores during the quarter, Sunteck and IFC (International Finance Corporation) have teamed up to establish a joint platform to support the construction of four to six green housing projects, totalling close to 12,000 high-quality housing units, within the Mumbai Metropolitan Region (MMR). Sunteck has been ranked third in the Asia-Pacific Diversified peer comparison after receiving a 5-star rating from Global Real Estate Sustainability Benchmark (GRESB).

Federal Bank

The private sector bank will release its Q2FY24 results today. Total deposits for the bank jumped 23 percent year on year (YoY) to Rs 2.3 lakh crore. Federal Bank reported that its gross advances climbed by 20% YoY to a total of Rs 1.9 lakh crore in Q2FY24, up from Rs 1.6 lakh crore in the same quarter of the previous year, according to an exchange filing on October 2. In Q2FY24, the CASA ratio dropped by 68 basis points (QoQ) sequentially to 31.1 percent.

Bank of Maharashtra

The public sector lender will release its quarterly results for the quarter ended 30th September 2023. The Bank of Maharashtra said that its deposits jumped by 22.2% to Rs 2,39,306 crore and that its total business mushroomed by 22.8% YoY in the period of July to September. Its current account and savings account (CASA) deposits climbed by 10.1% to Rs 1,21,345 crore from the same time last year. As of September 30, 2023, according to Bank of Maharashtra, its CASA ratio was 50.71 percent, down from 50.97 percent in Q4FY23 and 56.27 percent in Q2FY23. The business update states that the lender's gross advances climbed 23.6% on an annual basis to Rs 1,83,113 crore.

Avenue Supermarts

On a standalone basis, the company's total revenue for the quarter ended September 30, 2023, was Rs. 12,308 crore, up from Rs. 10,385 crore during the corresponding period in the previous year. EBITDA was Rs. 1,002 crore in Q2FY24 as opposed to Rs. 895 crore in the same period the previous year. EBITDA margin dropped from 8.6% in Q2FY23 to 8.1% in Q2FY24. In the second quarter of FY24, net profit was Rs. 659 crore as opposed to Rs. 730 crore in the same period of FY23. PAT margin decreased from 7.0% in Q2FY23 to 5.3% in Q2FY24.