Stocks to watch: Reliance Industries, YES Bank, ITC, ICICI Bank, MCX, SBI Cards, Axis Bank, Tata Motors

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Domestic equity markets are likely to open lower on Monday. Shares of index heavyweights RIL, ITC and ICICI Bank will react to their results. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 89 points at the opening bell. Overseas, Asian stocks traded mixed on Monday, as Chinese tech stocks in Hong Kong plunged. China’s antitrust regulator ordered Tencent to give up its exclusive music licensing rights and slapped a fine on it for anti-competitive behaviour, marking yet another development in Beijing’s ongoing crackdown on its domestic internet titans. Here is the list of top stocks that could be in focus on July 26.

Reliance Industries: Energy-to-telecom behemoth Reliance Industries (RIL) on Friday reported a 7.25% year-on-year fall in consolidated net profit at Rs 12,273 crore for the quarter ended June 30. It had reported a profit of Rs 13,233 crore in the same period last year. Consolidated total income increased by 57% YoY to Rs 1,48,591 crore.

YES Bank: Private sector lender YES Bank on Friday reported a 355% year-on-year (YoY) growth in net profit at Rs 206.84 crore for the quarter ended June 30. It had reported a profit of Rs 45.44 crore in the corresponding quarter last year. On the other hand, the net interest income of the bank declined 26.50% YoY to Rs 1,402 crore.

ITC: ITC Ltd on Saturday reported a 30.24% increase in its consolidated net profit to Rs 3,343.44 crore for the first quarter ended on June 30, 2021.

ICICI Bank: Private sector lender ICICI Bank on Saturday posted 77.59% year-on-year growth in standalone net profit at Rs 4,616.02 crore for the quarter ended June 30. It had posted a profit of Rs 2599.15 crore in the same quarter last year. Net interest income (NII) increased by 18% YoY to Rs 10,936 crore.

SBI Cards: SBI Cards and Payment Services Ltd (SBI Card) on Friday reported a 22% decline in net profit to Rs 305 crore in the first quarter ended June 30. The card issuance company had reported a net profit of Rs 393 crore in the April-June quarter of the previous fiscal.

MCX: MCX has posted a 29.47% drop in its consolidated net profit at Rs 39.80 crore in the first quarter of the current fiscal. It had posted a net profit of Rs 56.43 crore in the same quarter previous fiscal. Income declined to Rs 108.94 crore in the first quarter of 2021-22 fiscal from Rs 122.70 crore in the same quarter previous year. Expenses remained higher at Rs 57.47 crore as against Rs 51.35 crore in the said period.

Results today: Axis Bank, DLF, Kotak Mahindra Bank, Larsen & Toubro, M&M Financial Services, SBI Life, Tata Motors and Vedanta are slated to announce their Q1 results on Monday.

IOC: Indian Oil Corporation (IOC) is planning to build India’s first green hydrogen plant at its Mathura refinery. This push for the new age emission-free fuel comes at a time when India, the world’s third-largest oil importer, is recalibrating its energy sourcing playbook keeping its strategic and economic interests in mind. Green hydrogen can be a game-changer for India, which imports 85% of its oil and 53% of gas demand.

NTPC: NTPC has successfully completed trial operation of 2nd Unit of 800 MW capacity of Darlipali Super Thermal Power Project (2 x 800 MW). With this, the total installed capacity of NTPC and NTPC group has become 53450 MW and 66875 MW respectively.

IndusInd Bank: The lender is planning to raise up to Rs 30,000 crore or its equivalent amount in such foreign currencies as may be necessary, subject to the approval of the shareholders and receipt of regulatory approvals. The funds will be raised on a private placement basis. The proposal will be taken up at Annual General Meeting slated for August 26, 2021.

JSW Steel: The company has entered into a Share Subscription Agreement with JSW Paints to record the terms of the Strategic Investment, including the terms on which the company shall acquire equity shares equivalent to approximately 7.5% of the issued and paid-up equity capital of JSW Paints and 6.88% on a fully diluted basis, in the first tranche of the Strategic Investment, and the rights and obligations of the Company and JSW Paints.

Adani Transmission: Adani Transmission’s (ATL) subsidiary and distribution arm — Adani Electricity Mumbai (AEML) has raised $300 million (around Rs 2,232 crore) by issuing 10-year sustainability-linked bonds to global investors. The proceeds will be utilized for refinancing of existing debt and regulatory asset development for enabling ‘asset hardening’. After the transaction, AEML’s capital management plan enters the next phase with 100 percent of the term debt being placed in the international capital markets, and the overall maturity increases to nine years.