Bharti Airtel, Nykaa, HDFC Bank, Marico, ONGC, Deepak Nitrite and several other stocks are expected to remain in focus on August 5 after reporting June quarter earnings. Strong results from Bharti Airtel, Nykaa, Marico, Bharti Hexacom, ONGC and Deepak Nitrite are likely to drive stock-specific action, while HDFC Bank's AGM and the RBI's monetary policy decision will be key market triggers.
Indian stocks are likely to see share-specific movements on August 5 due to the release of various June quarter results along with the monetary policy announcement of the Reserve Bank of India. Various firms operating in the telecom, FMCG, energy, chemicals, and financial services sectors announced their quarterly results after market hours, making way for volatile movements in their respective shares.
Bharti Airtel, which is among the leading telecom players, was one of the key firms to watch out for after announcing better-than-expected quarterly revenues. The company announced its quarterly revenue of ₹58,539 crore, growing by 5.7% sequentially, thus beating market estimates. Investor focus will be on what the management says about subscriber growth, ARPU and future prospects of the telecom sector.
Nykaa, Marico and Bharti Hexacom Deliver Robust Performance
The e-commerce ventures of FSN Ltd (Nykaa) showed a marked improvement in terms of profitability in the June quarter. The company registered more than three times net profit for consolidated results at ₹79.7 crore, compared with ₹24.4 crore in the corresponding period last year.
In FMCG space, Marico made a strong impression on the market by registering a 27% YoY growth in consolidated net profit at ₹652 crore, along with revenue growth of 23% to ₹3,957 crore. Both earnings and sales have beaten analysts' estimates on account of robust demand and good execution.
Bharti Hexacom showed a very good operational performance with the consolidated net profit growing 23% YoY at ₹482.4 crore.
Energy, Chemicals and Industrial Stocks in Focus
ONGC was the energy company from PSU that posted better-than-expected earnings for the quarter, with its profit increasing over two times on a sequential basis owing to higher realisations on premium-priced new well gas.
Deepak Nitrite, specialty chemicals company, posted one of the best earning performances. The net profit has increased sharply from ₹112.2 crore to ₹345 crore whereas the revenue from operations is up by 36.4% from ₹1,871 crore to ₹2,577.6 crore.
Castrol India, lubricants company, reported robust earnings for the quarter. The net profit is up by 42.5% to ₹347 crore whereas revenue is up by 25% to ₹1,871 crore.
NHPC, hydropower company, posted an earnings performance that is quite stable, with its consolidated net profit up by 2.9% to ₹1,095.87 crore.
HDFC Bank AGM and RBI Policy to Remain Key Triggers
Besides results, HDFC Bank will come into the focus of attention due to the discussion on the fundraising through Additional Tier I, Tier II and infrastructure bonds at its 32nd Annual General Meeting.
Additionally, the entire banking, auto, housing finance and real estate space is anticipated to be active before the announcement of the RBI monetary policy statement as participants of the markets are closely going to follow the central bank's decisions related to the repo rate, policy stance, inflation expectations and GDP growth estimates.
Due to both positive corporate results and a very important central bank decision, August 5 can be considered a day full of events with a lot of individual stocks' stories in several sectors.
