Important results today: Reliance Industries, IndusInd Bank, Indian Oil, UPL

IFB Industries, Intellect Design Arena, Jindal Steel & Power, Jindal Stainless, Just Dial, Mahindra Lifespace Developers, Mahindra Logistics will announce their quarterly earnings on October 30.

Oct 30, 2020 10:10 IST India Infoline News Service

Quarterly Results
Quarterly results that are expected today include Reliance Industries (RIL), IndusInd Bank, Indian Oil Corporation (IOC), UPL, DLF, LT Foods, Deepak Nitrite, Dhanuka Agritech.

Dixon Technologies (India), Edelweiss Financial Services, Emkay Global Financial Services, IFB Industries, Intellect Design Arena, Jindal Steel & Power, Jindal Stainless, Just Dial, Mahindra Lifespace Developers, Mahindra Logistics, Max Financial Services, Motilal Oswal Financial Services, NIIT, Nucleus Software Exports, Quess Corp, RPG Life Sciences, Sundaram-Clayton, Vakrangee and Zee Media Corporation will announce their quarterly earnings on October 30.

According to the media reports, Reliance Industries (RIL) to report a 26.5% drop in net profit, while it believes sales may drop 35.1%. Refining segment EBITDA may decline qoq as lower crude throughput and adverse exchange rate offset modestly higher margins. GRMs to come in at $7.5/barrel, compared with 9.40/barrel a year ago, and ARPU at Rs142.

IndusInd Bank’s profit for the September quarter could fall more than 60% yoy as provisions are likely to increase in the range of 100-200% yoy, though the same may decline sequentially. Net interest income during the quarter is expected to increase around 10% yoy with around a percent loan growth and 10% growth in deposits compared to the year-ago period, the media reports added.

As per media reports, Indian Oil Corporation (IOC) is likely to post 140% yoy growth in net profit and gross refining margins at $2.50 per barrel.

Stock view:
Reliance Industries Ltd is currently trading at Rs2,041.35, up by Rs14.8 or 0.73% from its previous closing of Rs2,026.55 on the BSE.

Indian Oil Corporation Ltd is currently trading at Rs81.35, up by Rs2.9 or 3.7% from its previous closing of Rs78.45 on the BSE.

UPL Ltd is currently trading at Rs454.75, up by Rs4.2 or 0.93% from its previous closing of Rs450.55 on the BSE.

IndusInd Bank Ltd is currently trading at Rs595.50, up by Rs6.8 or 1.16% from its previous closing of Rs588.70 on the BSE.

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