Stocks To Watch: Nestle India, L&T, Tech Mahindra, Ashok Leyland, Axis Bank, SBI, RBL Bank

Tech Mahindra Ltd., Nestle India Ltd., Axis Bank Ltd., Larsen & Toubro Ltd., and State Bank of India will be in focus on Thursday.

Tech Mahindra, Ashok Leyland, and Nestle India are set to reveal their earnings for the first quarter of fiscal 2025, whereas shares of Axis Bank and Larsen & Toubro are expected to fluctuate based on investor sentiment after their quarterly result announcement on Wednesday.

SBI signed a non-binding MoU worth £750 million as a joint investment with the UK's Foreign, Commonwealth and Development Office.

Benchmark equity indices extended their fall to another session as losses in heavyweights like HDFC Bank, RIL, Bajaj Finance, HUL, and ICICI Bank pulled them lower.

The GIFT Nifty was 0.04% or 8.50 points down at 24,244.50 as of 06:59 a.m.

The NSE Nifty 50 closed down 65.55 points, or 0.27%, at 24,413.50, while the S&P BSE Sensex ended 280.16 points or 0.35%, lower at 80,148.88.

Nifty's range of 24,070–24,000 will act as a demand zone for the benchmark index in the short term, according to analysts. The immediate support for the Nifty is placed around 24,200, followed by 24,000, while 24,700–24,800 is the resistance zone, they said.

The Bank Nifty on a daily scale has retested its previous breakout from the rounding bottom pattern and managed to close above it. As long as the index holds above the 51,000–50,950 levels, a short-term relief rally cannot be ruled out, but sustaining below 50,950 will trigger fresh weakness for the Bank Nifty, said analysts.

• SBI: The company signed a non-binding MoU worth £750 million as a as a joint investment with the UK's Foreign, Commonwealth and Development Office.

• RBL Bank: Hong Kong-based Baring Private Equity Asia plans to exit the company Ltd. by divesting its entire 7.9% equity via open market transactions on Thursday. The foreign portfolio investor, through its vehicle Maple II BV, has offered to sell 4.78 crore shares at a floor price of Rs 226 per share, according to people in the know.

• Shipping Corporation of India: The company will explore possible business collaborations with central and state enterprises and private entities.

• Dish TV: The company approved setting up a new subsidiary for digital platforms and ancillary services.

• Nestle India: The company and Dr Reddy's Laboratories have announced the formation of a joint venture, which will be called Dr. Reddy’s and Nestlé Health Science Ltd. The partnership was reportedly made to combine the established and reputed range of nutritional products of Nestlé Health Science with the nutraceutical portfolios and established market share of Dr. Reddy’s Laboratories in India.

• BSE: The company received SEBI's nod to act as a research analyst and investment adviser administration body. The company is to undertake the business of an administrative and supervisory body effective July 25.

• RVNL: The company received a letter of acceptance from South Eastern Railway for a Rs 192 crore construction project.

Tech Mahindra Ltd., Ashok Leyland Ltd. and Nestle India Ltd. will be among the major firms to report their first-quarter earnings on Thursday.

Other results to look out for include Aavas Financiers, Adani Green Energy, AU Small Finance Bank, Canara Bank, Chalet Hotels, Chennai Petrochem Corp., Cyient, DLF, Glenmark Life Sciences, Go Digital General Insurance, Home First Finance Company India, Jupiter Wagons, Jyothy Labs, Laurus Labs, MGL, Motilal Oswal Financial Services, Mphasis, PNB Housing Finance, Praj Industries, The Ramco Cements, United Breweries, Ujjivan Small Finance Bank, UTI AMC, Venus Pipes and Tubes, Vesuvius India and Westlife Foodworld.

Axis Bank Q1 FY25 (Standalone, YoY)

• NII up 12% at Rs 13,448 crore versus Rs 11,959 crore.

• Net profit up 4% at Rs 6,035 crore versus Rs 5,797 crore.

• Gross NPA at 1.54% versus 1.43% (QoQ).

• Net NPA at 0.34% versus 0.31% (QoQ).

L&T Q1 FY25 (Consolidated, YoY)

• Revenue up 15% at Rs 55,120 crore versus Rs 47,882 crore (Bloomberg estimate Rs 53,601 crore).

• Ebitda up 15% at Rs 5,615 crore versus Rs 4,867 crore (Bloomberg estimates Rs 5,540 crore).

• Ebitda margin at 10.20% versus 10.16% (Bloomberg estimate 10.3%).

• Net profit up 10.4% at Rs 3,440 crore versus Rs 3,116 crore (Bloomberg Rs 2,639 crore).

SBI Life Q1 FY25 (YoY)

• Net premium income up 15.3% at Rs 15,106 crore versus Rs 13,105 crore.

• Net profit up 36.5% at Rs 520 crore versus Rs 381 crore (Bloomberg estimate Rs 419 crore).

JK Paper Q1 FY25 (Consolidated, YoY)

• Revenue up 8.2% at Rs 1,714 crore versus Rs 1,584 crore (Bloomberg estimate Rs 1,592 crore).

• Ebitda down 41% at Rs 281 crore versus Rs 477 crore.

• Ebitda margin at 16.4% versus 30.1%.

• Net profit down 54.9% at Rs 141 crore versus Rs 313 crore (Bloomberg estimate Rs 227 crore).

Bikaji Foods Q1 FY25 (Consolidated, YoY)

• Revenue up 18.7% at Rs 572 crore versus Rs 482 crore (Bloomberg estimate Rs 554 crore).

• Ebitda up 39% at Rs 91 crore versus Rs 66 crore (Bloomberg estimate Rs 87 crore).

• Ebitda margin at 16% versus 13.6% (Bloomberg estimate 15.7%).

• Net profit up 40.3% at Rs 58 crore versus Rs 41 crore (Bloomberg estimate Rs 57 crore).

Trident Q1 FY25 (Consolidated, YoY)

• Revenue up 16.7% at Rs 1,743 crore versus Rs 1,494 crore.

• Ebitda down 2.6% at Rs 225 crore versus Rs 231 crore.

• Ebitda margin at 12.9% versus 15.5%.

• Net profit down 19.1% at Rs 74 crore versus Rs 91 crore.

Oracle Financial Q1 FY25 (Consolidated, QoQ)

• Revenue up 6.02% at Rs 1,741 crore versus Rs 1642 crore (Bloomberg estimate Rs 1,665 crore).

• EBIT up 15.75% at Rs 829 crore versus Rs 716 crore (Bloomberg estimate Rs 712 crore).

• EBIT margin at 47.59% versus 43.59% (Bloomberg estimate 42.8%).

• Net profit up 10.17% at Rs 617 crore versus Rs 560 crore (Bloomberg estimate Rs 569 crore).

Ramkrishna Forgings Q1 FY25 (Consolidated, YoY)

• Revenue up 12.6% at Rs 1,005 crore versus Rs 892 crore (Bloomberg estimate Rs 994 crore).

• Ebitda up 8.3% at Rs 208 crore versus Rs 192 crore.

• Ebitda margin at 20.7% versus 21.5%.

• Net profit up 3% at Rs 81 crore versus Rs 79 crore (Bloomberg estimate Rs 88 crore).

Karnataka Bank Q1 FY25 (Standalone, YoY)

• NII up 11% at Rs 903 crore versus Rs 815 crore.

• Gross NPA at 3.54% versus 3.53% (QoQ).

• Net NPA at 1.66% versus 1.58% (QoQ).

• Net profit up 8% at Rs 400 crore versus Rs 371 crore (Bloomberg estimate Rs 297 crore).

Indraprastha Gas Q1 FY25 (Consolidated, QoQ)

• Revenue down 1.9% at Rs 3,521 crore versus Rs 3,597 crore.

• Ebitda up 11.3% at Rs 580 crore versus Rs 521 crore.

• Ebitda margin at 16.5% versus 14.5%.

• Net profit up 10.8% at Rs 480 crore versus Rs 433 crore.

IEX Q1 FY25 (YoY)

• Total income up 21% at Rs 154 crore versus Rs 127 crore (Bloomberg estimate Rs 126 crore).

• Net profit up 26% at Rs 96 crore versus Rs 76 crore (Bloomberg estimate Rs 93 crore).

Sona BLW Q1 FY25 (Consolidated, YoY)

• Revenue up 21.0% at Rs 891 crore versus Rs 731 crore (Bloomberg estimate Rs 859 crore).

• Ebitda up 23.2% at Rs 249 crore versus Rs 202 crore (Bloomberg estimate Rs 245 crore).

• Ebitda margin at 28% versus 27.7% (Bloomberg estimate 28.6%).

• Net profit up 26.8% at Rs 142 crore versus Rs 112 crore (Bloomberg estimate Rs 139 crore).

PG Electroplast Q1 FY25 (Consolidated, YoY)

• Revenue up 95% at Rs 1,321 crore versus Rs 678 crore (Bloomberg estimate Rs 959 crore.

• Ebitda up 99% at Rs 131 crore versus Rs 66 crore (Bloomberg estimate Rs 89 crore).

• Ebitda margin at 9.9% versus 9.7% (Bloomberg estimate 9.3%).

• Net profit up 147% at Rs 84 crore versus Rs 34 crore (Bloomberg estimate Rs 53 crore).

Jindal Steel & Power Q1 FY25 (Consolidated, YoY)

• Revenue up 8% at Rs 13,618 crore versus Rs 12,588 crore (Bloomberg estimate Rs 13,194 crore).

• Ebitda up 8% at Rs 2,839 crore versus Rs 2,628 crore (Bloomberg estimate Rs 2,719 crore).

• Ebitda margin flat at 20.9% versus 20.9% (Bloomberg estimate 20.6%).

• Net profit down 21% at Rs 1,338 crore versus Rs 1,692 crore (Bloomberg estimate Rs 1,319 crore).

HFCL Q1 FY25 (Consolidated, YoY)

• Revenue up 16% at Rs 1,158 crore versus Rs 995 crore.

• Ebitda up 19% at Rs 175 crore versus Rs 146 crore.

• Ebitda margin at 15.1% versus 14.7%.

• Net profit up 46% at Rs 111 crore versus Rs 76 crore.

SIS Q1 FY25 (Consolidated, YoY)

• Revenue up 5% at Rs 3,130 crore versus Rs 2,977 crore (Bloomberg estimate Rs 3,313 crore).

• Ebitda down 1% at Rs 138 crore versus Rs 139 crore (Bloomberg estimate Rs 163 crore).

• Ebitda margin at 4.4% versus 4.7% (Bloomberg estimate 4.9%).

• Net profit down 28% at Rs 64 crore versus Rs 90 crore (Bloomberg estimate Rs 75 crore).

Craftsman Automation Q1 FY25 (Consolidated, YoY)

• Revenue up 10.9% at RS 1,151 crore versus Rs 1,038 crore (Bloomberg estimate Rs 1,116 crore).

• EBITDA down 7.9% at Rs 197 crore versus Rs 214 crore (Bloomberg estimate Rs 216 crore).

• EBITDA margin at 17.1% versus 20.6% (Bloomberg estimate 19.3%).

• Net profit down 26.4% at Rs 60 crore versus Rs 81 crore (Bloomberg estimate Rs 73 crore).

Aditya Birla Sun Life AMC Q1 FY25 (Consolidated, YoY)

• Total income up 23.7% at Rs 481 crore versus Rs 389 crore.

• Net profit up 27.6% at Rs 236 crore versus Rs 185 crore (Bloomberg estimate Rs 213 crore).