Stocks to Watch: ICICI Bank, Yes Bank, Coal India, Inox Wind, Lodha, REC, and more

Here’s a quick look at stocks likely to be in focus in today's trade.

ICICI Bank: ICICI Bank’s standalone net profit rose 14.5 percent year-over-year in Q2 FY25, reaching ₹11,746 crore from ₹10,261 crore in the same period last year. The bank’s net interest income (NII) grew 9.5 percent to ₹20,048 crore, though it fell short of the ₹20,845 crore forecast by a Moneycontrol poll. Net interest margin (NIM) stood at 4.27 percent, a decrease from 4.36 percent in the previous quarter and 4.53 percent in the prior year. Non-interest income increased by 10.8 percent to ₹6,496 crore, and fee income saw a 13.3 percent rise to ₹5,894 crore, mainly from retail, rural, and business banking.

Yes Bank: Yes Bank’s Q2 net profit saw a sharp rise to ₹553 crore from ₹225 crore in the same period last year. The bank’s NII rose 14.3 percent to ₹2,200 crore, up from ₹1,925.1 crore in Q2 FY24, indicating stable growth in core lending operations. The bank’s NIM improved to 2.4 percent, compared to 2.3 percent in the prior year, though it remained unchanged from the previous quarter.

Titagarh Rail: Titagarh Rail Systems posted a 14 percent increase in consolidated net profit to ₹81 crore in the September quarter, up from ₹71 crore a year ago. Sequentially, PAT increased 21 percent from ₹67 crore in the April-June quarter. Revenue from operations stood at ₹1,057 crore, a 13 percent increase from ₹935 crore in Q2FY24, and a 17 percent rise quarter-on-quarter from ₹903.05 crore in Q1FY25.

IDFC First Bank: IDFC First Bank’s Q2 profit fell by 73 percent year-over-year to ₹201 crore from ₹751 crore, driven by a threefold increase in provisions to ₹1,732 crore compared to ₹528 crore last year. This rise in provisions was primarily due to additional buffer requirements for its microfinance portfolio, with the bank covering about 99 percent of loans past due by more than 30 days but not classified as NPAs.

REC: REC, a state-owned NBFC, reported a 6.5 percent increase in Q2 net profit to ₹4,038 crore from ₹3,790 crore last year. Interest income for the quarter was ₹13,485 crore, an 18 percent rise from ₹11,399 crore in the same period of the previous fiscal. REC announced an interim dividend of ₹4 per share, with a record date of November 8, 2024.

Coal India: Coal India’s Q2 FY24 net profit dropped by 22 percent to ₹6,289.1 crore from ₹8,048.6 crore in the year-ago period, impacted by lower sales. Revenue from operations decreased by 6.4 percent to ₹30,672.9 crore, compared to ₹32,776 crore in the same quarter last year. The PSU accounts for 80 percent of India’s domestic coal production.

Bharat Petroleum Corporation: Bharat Petroleum reported a 1.11 percent year-over-year increase in revenue but saw its profit fall by 72.13 percent compared to the same period last year. On a quarterly basis, revenue declined by 7.93 percent, and profit dropped by 19.16 percent.

Macrotech Developers: Macrotech Developers reported a nearly 98 percent increase in PAT to ₹422 crore for the September 30, 2024, quarter, compared to the same quarter last year. Revenue from operations reached ₹2,626 crore, a 50 percent rise year-over-year. Lodha, as the company is formerly known, achieved record-high pre-sales of ₹4,290 crore, up 21 percent from the same period last year.

Zee Media Corp: Zee Media reported a widened consolidated net loss of ₹49.86 crore for Q2 FY25, compared to a net loss of ₹30.7 crore in the same period last year. Revenue from operations fell by 13.78 percent to ₹130.7 crore, down from ₹151.59 crore in the previous year.

Inox Wind: Inox Wind posted a profit of ₹90 crore for Q2 FY25, a significant turnaround from a loss of ₹27 crore in the previous year. Revenue surged 93 percent year-over-year to ₹742 crore from ₹384 crore. The company is set for its best-ever annual profitability in FY25 and reported an order book of 3.3 GW with new orders worth 1.2 GW.

DLF: DLF’s Q2 net profit surged 122 percent to ₹1,381 crore, up from ₹623 crore a year earlier. Revenue from operations rose to ₹1,975 crore, marking a 46 percent increase over ₹1,348 crore in the prior year. Sequentially, net profit jumped by 114 percent, reaching ₹1,381 crore in the current quarter from ₹646 crore in the previous one.

Bank of Baroda: Bank of Baroda reported a 23 percent increase in its standalone net profit for Q2, reaching ₹5,238 crore compared to ₹4,253 crore in the same period last year. The bank’s net interest income grew by 7.3 percent to ₹11,622 crore, up from ₹10,831 crore. Asset quality showed improvement, with the gross NPA ratio decreasing to 2.50 percent from 2.88 percent quarter-over-quarter, and the net NPA ratio falling to 0.60 percent from 0.69 percent in the previous quarter.

Results Today: Companies including Sun Pharmaceutical, Bharti Airtel, Punjab National Bank, Adani Power, BHEL, Ambuja Cements, Computer Age Management Services, Dalmia Bharat Sugar, Federal Bank, Firstsource Solutions, Indian Bank, Indian Oil Corporation, JSW Infrastructure, and KFin Technologies are scheduled to report their quarterly earnings on Monday, October 28.