Reliance Industries, HDFC Life Insurance, JSW Steel, Union Bank of India, LTIMindtree, Bandhan Bank, JSW Energy and Petronet LNG are among dozens of companies that are scheduled to report their quarterly results today. Others included Coforge, Atul, Tanla Platforms and RBL Bank, among others. The board members of a few of these companies namely LTIMindtree, Ramkrishna Forgings, Coforge, DCM Shriram and Saregama India will also consider payment of interim dividends for FY23. Two stocks Heritage Foods and Hazoor Multi Projects will turn ex-rights while shares of Deep Diamond India will turn ex-split today.
The biggest quarterly earnings for the day is Reliance Industries. Emkay Global expects Reliance Industries to report a 4.3 per cent YoY drop in profit at Rs 15,041.90 crore compared with Rs 15,713 crore in the same quarter last year. Revenue is seen rising 21.3 per cent YoY to Rs 2,24,394 crore compared with Rs 1,85,027 crore in the corresponding quarter last year. Ebitda margin is seen at 15.5 per cent against 16.1 per cent YoY.
In the case of JSW Steel, profit is seen falling 81 per cent YoY to Rs 834 crore compared with Rs 4,357 crore in the year-ago quarter, Centrum Broking said. Revenue is seen flattish at Rs 37,940 crore against Rs 38,071 crore YoY.
HDFC Life is seen reporting 30 per cent YoY jump in December quarter profit at Rs 356 crore on 22 per cent jump in APE at Rs 3,163 crore. VBN margin is seen at 26.4 per cent against 26.7 per cent YoY.
“We expect HDFC Life to deliver a strong 22 per cent YoY APE growth for Q3FY23. The strong growth is on account of its merger with Exide Life, with numbers in the base being ex-Exide Life. With Non-Par products gaining share within the product mix, we expect HDFC Life to report VNB margin at 26.3 per cent for 9MFY23, leading to 19 per cent YoY growth in the absolute VNB, at Rs 2,120 crore for 9MFY23,” Emkay Global said.
Heritage Foods will turn ex-rights today. The company had announced rights issue of 4,63,98,000 shares of face value of Rs 5 each for cash at a price of Rs 5 per rights shares for an amount aggregating to Rs 23.20 crore. Friday has been fixed as the record date for determining the list of shareholders who would be entitled to apply for the rights issue.
Deep Diamond India will turn ex-stock split today from face value of Rs 10 to shares with face value of Re 1 each.
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