Stocks to Watch Today on October 28, 2024: ICICI Bank, YES Bank, DLF, and More

On Monday, October 28, 2024, the benchmark indices, Sensex and Nifty 50, are expected to open on a flat note, influenced by mixed signals from global markets. As of 08:03 AM, the Nifty futures on the GIFT exchange were up by 0.44% at 24,245.

• ICICI Bank

ICICI Bank‘s standalone net profit rose by 14.5% year-on-year in Q2 FY25, reaching ₹11,746 crore compared to ₹10,261 crore last year. However, the net interest income (NII) grew by 9.5% to ₹20,048 crore, missing the forecast of ₹20,845 crore. The net interest margin (NIM) decreased to 4.27% from 4.36% last quarter and 4.53% last year. Non-interest income increased by 10.8% to ₹6,496 crore, with fee income rising by 13.3% to ₹5,894 crore, mainly from retail and business banking.

• YES Bank

YES Bank’s Q2 net profit jumped to ₹553 crore from ₹225 crore last year. Its NII grew by 14.3% to ₹2,200 crore, showing steady growth in lending. The NIM improved to 2.4%, up from 2.3% last year.

• Titagarh Rail

Titagarh Rail Systems saw a 14% increase in consolidated net profit to ₹81 crore, up from ₹71 crore last year. Revenue from operations rose by 13% to ₹1,057 crore compared to ₹935 crore in Q2 FY24.

• IDFC First Bank

IDFC First Bank‘s Q2 profit dropped 73% year-on-year to ₹201 crore, down from ₹751 crore. This decline was due to a tripling of provisions to ₹1,732 crore, primarily for its microfinance portfolio.

• REC

REC, a state-owned NBFC, reported a 6.5% increase in Q2 net profit to ₹4,038 crore, up from ₹3,790 crore last year. Interest income rose 18% to ₹13,485 crore. REC also declared an interim dividend of ₹4 per share, with a record date of November 8, 2024.

• Coal India

Coal India’s Q2 net profit fell 22% to ₹6,289.1 crore from ₹8,048.6 crore a year ago, mainly due to lower sales. Revenue dropped by 6.4% to ₹30,672.9 crore.

• DLF

DLF’s Q2 net profit soared 122% to ₹1,381 crore from ₹623 crore last year, with revenue rising 46% to ₹1,975 crore.

• Results Today

Companies reporting quarterly earnings today include Sun Pharmaceutical, Bharti Airtel, Punjab National Bank, Adani Power, BHEL, Ambuja Cements, and others.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.