Pre Market Analysis: Dalal Street may open lower; RIL, ICICI Bank, VIL, YES Bank in news today

Reliance Industries Ltd (RIL): The conglomerate posted a consolidated net profit of Rs 18,549 crore in Q3FY22. This is an increase of 41% from Rs 13,101 crore reported in the year-ago period. Revenue from operations rose 54% to Rs 1.91 lakh crore for the reported quarter as compared to Rs 1.23 lakh crore in the same period last year.

ICICI Bank: The private-sector lender reported a 25% jump in standalone net profit at Rs 6,194 crore for the quarter ending December 31, 2021. It was Rs 4,940 crore in the year-ago period. Net interest income grew by 23% to Rs 12,236 crore in Q3FY22 from Rs 9,912 crore in Q3FY21. The net NPA ratio declined to 0.85% in Q3FY22 from 0.99% in the previous quarter.

Meanwhile, ICICI Bank informed the stock exchanges that Rama Bijapurkar, who is an independent director on the board of the bank, has tendered her resignation, with effect from January 23, on a potential conflict of interest situation.

Vodafone Idea Ltd (VIL): The telecom operator’s losses widened 59.5 per cent to Rs 7,230 crore in Q3 FY2022 on a year-on-year (YoY) basis amid fall in revenue and subscribers. The company had posted a loss of Rs 4,532 crore in the corresponding period last fiscal. Gross revenue decreased 10.8 per cent to Rs 9,717 crore in the third quarter of FY22 from Rs 10894 crore. ARPU fell to Rs 115 on a yearly basis from Rs 121.

YES Bank: The company Saturday reported 77% jump in consolidated net profit at Rs 266 crore for the quarter ending December 31, 2021. The lender reported net profit of Rs 148 crore in the year-ago period. Net Interest Income fell 31.1% to Rs 1764 crore in Q3FY22 from Rs 2560 crore in the year-ago period. Total Net Income also fell 31.5% YoY to Rs 2498 crore.

Adani Enterprises: The company is investing more than Rs 4,600 crore in two data centre projects in Uttar Pradesh, a state Cabinet minister said on Sunday. According to UP MSME and export promotion minister Sidharth Nath Singh, the company is setting up the two data centres at a total cost of Rs 4,646 crore in Noida sectors 62 and 80 respectively.

Tata Motors: The automaker expects its growth momentum to continue this year as well as anticipates supply side issues to improve, helping it roll out more units to cater to the enhanced demand, as per a top company official. Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said that the company is coming with more options in the mass segment in order to expand its customer base.

Tata Consultancy Services (TCS): The IT major is aiming for a high double-digit growth in revenues from Canada in the next few years as the North American country’s economy grows across sectors and digitisation becomes an essential aspect for businesses, a senior official has said.

Vedanta Resources Ltd: The company’s plan to set up $USD 10 billion fund to acquire state-owned firms has attracted interest from sovereign wealth funds and the corpus will be floated once the government invites price for firms such as BPCL or Shipping Corporation of India (SCI), its chairman said. The idea is to create a fund with a 10-year life span that will use a private equity-type strategy, buying into companies and boosting their profitability before seeking an exit.

HDFC Ltd: The company’s subsidiary, HDFC Capital, has achieved the initial close of its third fund of $1.88 billion (about Rs 13,500 cr) focused on affordable housing. HDFC Capital’s target is to finance the development of one million affordable homes in India.

L&T Finance Holdings: The company reported a 12 per cent increase in its net profit to Rs 326 crore for the quarter ended December 2021. The NBFC had registered a net profit of Rs 291 crore in the year-ago period. Total income during the October-December 2021 period, was down to Rs 3,099 crore, from Rs 3,504 crore in Q3FY21. The company said it witnessed strong improvement in disbursements and collections in Q3FY22.

Vardhman Textiles: The company reported a consolidated profit after tax of Rs 431.51 for the third quarter ended December 2021, as against a profit after tax of Rs 174.85 crore in the year-ago period. Its total income for the quarter under review rose to Rs 2,666.8 crore as against Rs 1,806.85 crore in the corresponding period of the previous year.

Gland Pharma: The drug maker posted a 34 per cent increase in its consolidated profit after tax at Rs 273 crore for the third quarter ended December 31, 2021. The drug maker had reported a profit after tax (PAT) of Rs 204 crore in the corresponding period of the previous fiscal. Revenue from operations rose to Rs 1,063 crore in the Q3FY22 as against Rs 859 crore in the same period of FY21.

Bandhan Bank: The lender reported a 36% rise in net profit at Rs 858.97 crore for the quarter ending December 31, 2021. The lender reported net profit of Rs 632.59 crore in the year-ago period. Net Interest Income (NII) for the quarter grew by 2.6% to Rs 2,124.7 crore as against Rs 2,071.7 crore in the corresponding quarter of the previous year.

CSB Bank: The lender reported a nearly three-fold jump in net profits to Rs 148.26 crore for the third quarter ended December 2021. The lender had reported a net profit of Rs 53.05 crore for the third quarter of the previous financial year. However, total income during the reported quarter declined to Rs 579.81 crore as against Rs 614.06 crore in the same period a year ago.