Stocks To Watch Today: ICICI Bank, Yes Bank, Paytm, L&T Finance & More

On Monday, 23rd October here are the hot stocks covering Paytm, Samvardhana Motherson, ICICI Bank, Yes Bank, and L&T Finance which are likely to be in focus today.

ICICI Bank

On Friday, ICICI Bank reported a 35.8% YoY jump in its net profit from Rs 7,558 crore in Q2 2023 to Rs 10,261 crore in Q2 2024. According to ICICI Bank, its Net Interest Income (NII) climbed by 23.8% to Rs 18,308 crore during the period under review from Rs 14,787 crore in the September 2022 quarter.

Samvardhana Motherson

On Friday, the firm unit signed an agreement to pay €35 million for the entire stake in France's Topco. Additionally, the company has agreed to acquire a 73.05% stake in Irillic Private and acquired the entire stake in Samvardhana Motherson Adsys Tech Ltd. from Motherson Auto Ltd.

Yes Bank

On a standalone basis, Yes Bank on Friday posted a net profit of Rs 225.21 Cr during Q2FY24, gaining 48% YoY from Rs 152.82 Cr in Q2FY23. The bank's net income for the period under review was Rs 7920.68 Cr, up from Rs 6348.53 Cr in the same quarter last year. In the quarter under review, the bank's net interest income (NII) was Rs 1,925.1 crore, a 3.3% fall from Rs 1,991.4 crore in Q2FY23.

RBL Bank

The bank said on Friday that its standalone PAT for the second quarter of fiscal year 24 jumped by 46% YoY and 2% QoQ to Rs. 294 crore and that its standalone operating profit improved by 43% YoY and 13% QoQ to Rs. 731 crore. RBL Bank's net interest income jumped by 26% YoY and 4% QoQ to Rs. 1,475 crore in Q2 FY24. NIM was 5.54% as compared to 5.02% in Q2 FY23.

Kotak Mahindra Bank

On Friday, Kotak Mahindra Bank unveiled that its net profit for the second quarter of fiscal year 24 was Rs 3,191 crore, up 24% YoY from Rs 2,581 crore in the second quarter of fiscal year 23. The Net Interest Income (NII) climbed by 23% YoY, from Rs 5,099 crore in Q2FY23 to Rs 6,297 crore in Q2FY24. Net Interest Margin (NIM) was 5.22% for Q2FY24. A 29% YoY growth from the operating profit of 3,568 crore in Q2FY23 to Rs 4,610 crore for the bank's second quarter of fiscal year 24.

IDBI Bank

In the second quarter of the fiscal year 2023-24 (Q2FY24), IDBI Bank reported a net profit of Rs 1,323.3 crore, a 59.8% increase over the profit of Rs 828.1 crore from the same quarter the previous year. The bank's net interest income (NII) jumped by 12 per cent, from Rs 2,738.1 crore in Q2FY23 to Rs 3,066.5 crore in Q2FY24.

Paytm

In the second quarter of the fiscal year 2023-2024 (Q2FY24), Paytm reported consolidated revenue from operations of Rs 2,519 crore, a rise of 32 per cent over the Rs 1,914 crore reported in the same quarter the previous year. In the quarter under review, the company recorded a consolidated net loss of Rs 292 crore, 49% down from the loss of Rs 572 crore reported in Q2FY23.

JSW Steel

JSW Steel Ltd. recorded a net profit of Rs 2,773 crore for the September 2023 quarter on Friday. The Mumbai-based steel producer announced that its consolidated revenue from operations climbed by 6.71% on a yearly basis to Rs 44,584 crore in Q2FY24.

L&T Finance

According to a regulatory statement made on October 20, the firm announced a consolidated profit of Rs 595 crore on Friday, a 46% increase over the same period the previous year. The company reported a profit of Rs 406 crore for Q2 FY2022-23. The company's NIM jumped 11% to Rs. 1,729 crore in Q2 FY23-24 from Rs. 1,563 crore in Q2 FY22-23.