HDFC, Dabur, Tata Consumer, Blue Star among major Q3 earnings to watch today

2 Feb 2022 , 10:05 AM

NBFC giant HDFC will be in focus today ahead of its financial performance for the quarter ending December 2021 (Q3FY22) period. Companies like Adani Green Energy, Dabur India, Jubilant FoodWorks, Mahindra & Mahindra Financial Services, Blue Star and Tata Consumer Products will also witness major movements on stock exchanges ahead of their Q3 earnings.

In Q3FY22, the NBFC-giant HDFC is expected to post double-digit growth in the bottom-line front, while net interest income will see a favourable upside. HDFC’s individual loan growth will be robust as non-individual loan books gain traction. However, a lack of dividend income is expected to take a toll on HDFC’s earnings at a certain quantum. HDFC is a key beneficiary from lowering borrowing costs and consolidating in the housing finance sector.

Last month, HDFC announced provisional data for Q3FY22. The lender stated that as of December 2021, it has assigned loans amounting to Rs7,468cr compared to Rs7,076cr in the corresponding quarter of the previous year. All the loans assigned during the quarter ended December 31, 2021, were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank. Further, HDFC announced that the loan sold in the preceding 12 months amounted to Rs27,591cr (Previous Year: Rs16,956cr), meanwhile, gross income from the dividend for the quarter ended December 31, 2021, was Rs195cr (PY: Rs2cr).

Other companies will be – Aarti Surfactants, Apollo Tyres, Adani Total Gas, Bajaj Consumer Care, Balaji Amines, Balrampur Chini Mills, eClerx Services, Gillette India, Indian Overseas Bank, JK Lakshmi Cement, Meghmani Organics, Sandhar Technologies, Shankara Building Products, Suryoday Small Finance Bank, Timken India, VRL Logistics, Windlas Biotech, Zee Entertainment Enterprises, and Zydus Wellness.

Indian markets extended their gains on Wednesday as investors cheer the Union Budget 2022 which met the street’s expectations and positive global cues that was spurred by strong earnings of major US tech companies and further reacting to US Federal Reserve’s officials favouring monetary-policy tightening. Also, domestic corporate earnings further lifted the buying mood.  In the early deals, Sensex was just shy of the 59,500-mark and Nifty 50 jumped near 17,750.