RIL, ICICI Bank, Dr Reddy’s among stocks to watch
As markets open on Monday, investors are bracing themselves for a potentially subdued session, amidst mixed global cues and key earnings announcements. With several blue-chip stocks set to report their quarterly results, market participants are eagerly awaiting the outcomes. In this article, we will highlight some of the key stocks that are expected to be in focus, including RIL, HDFC Bank, ICICI Bank, Dr Reddy’s, and IDFC First Bank.
RIL: Q1 Results in Focus
Reliance Industries (RIL) will be one of the most closely watched stocks on Monday, as the company reports its Q1 earnings. RIL’s quarterly results are expected to provide insights into the company’s performance in the current fiscal, particularly in the refining and petrochemical segments. The stock has been a major contributor to the Nifty’s performance in recent times, and any significant deviations from expectations could impact the broader market.
HDFC Bank, ICICI Bank: Earnings Expectations
HDFC Bank and ICICI Bank, two of India’s largest private sector lenders, are also set to report their Q1 earnings. Both banks are expected to have benefited from the Reserve Bank of India’s (RBI) accommodative monetary policy, which has led to a decline in interest rates. Market participants will be keeping a close eye on their asset quality, loan growth, and profitability.
Dr Reddy’s: Q1 Results and Future Outlook
Dr Reddy’s Laboratories, a leading pharmaceutical company, will also report its Q1 earnings. The company’s results are expected to provide insights into its performance in the generics and research-based pharmaceutical segments. Dr Reddy’s has been expanding its presence in the US market, and any updates on its plans and strategies will be closely watched by investors.
IDFC First Bank: RBI Clears Warburg’s Stake
IDFC First Bank, a relatively new player in the Indian banking sector, will be in focus after the RBI cleared Warburg Pincus’s 9.99% stake in the company. The development is expected to provide a boost to the bank’s valuation and could lead to increased investor interest.
Other Stocks to Watch
Apart from these four stocks, several other companies will report their Q1 earnings on Monday. These include UltraTech Cement, Havells India, and others. UltraTech Cement, India’s largest cement manufacturer, is expected to report a decline in profits due to higher raw material costs. Havells India, a leading electrical equipment manufacturer, is expected to report a rise in profits due to strong demand in the consumer durables segment.
Nifty Logs Third Straight Weekly Loss
The Nifty, India’s benchmark stock index, logged its third straight weekly loss last week, amid concerns over the global economy and the impact of the US-China trade tensions on India’s exports. The index has been trading in a narrow range in recent times, and any significant moves could be driven by earnings expectations and global cues.
India-US Tariff Talks Ahead of Aug 1 Deadline
The ongoing trade negotiations between India and the US are also adding to the uncertainty in the market. The two countries have until August 1 to come to an agreement on tariffs, and any failure to do so could lead to increased tariffs on each other’s goods. The impact of this could be significant, particularly for India’s exporters.
In conclusion, Monday’s trading session is expected to be influenced by the earnings announcements of several blue-chip stocks, including RIL, HDFC Bank, ICICI Bank, Dr Reddy’s, and IDFC First Bank. The Nifty’s performance in the previous week was subdued, and any significant moves could be driven by earnings expectations and global cues. Investors would do well to keep a close eye on the developments in the India-US tariff talks, as they could have a significant impact on the market’s direction.
