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Weekly Stock Watch: Axis Bank, SBI Cards, RIL, Maruti, Adani Wilmar

Professor of Financial Economics and Part-time Value Investor, Transfin.
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Editorial

The past week was one investors would be more than happy to forget. Concerns about the US Federal Reserve winding up its bond-buying programme and Russia-Ukraine tensions weighed on markets the world over.

Monday, in particular, was a bloodbath, with key indices nose-diving and markets - including in India, China, Japan and Australia - suffering costly corrections or entering bear territory. Sensex and Nifty are down -3.32% and -2.58% since Monday. The mood was gloomy across sectors, particularly among new-age listed startups like EaseMyTrip, Zomato, CarTrade, Nykaa, Policybazaar, Paytm and MapMyIndia, which suffered brutal corrections.

While some stocks have since begun to recover heavy losses, the outlook remains uncertain, with VIX remaining elevated.

Here are the top stocks that moved markets in the final full week of January 2022:

Axis Bank: The lender reported its Q3 results on Monday: 224% YoY and 15% QoQ rise in net profit, 17% YoY jump in NII; GNPA ratio declined by 138 bps YoY to 3.17%. 5D share price movement +6.88%.

SBI Cards: Third quarter numbers showed PAT and NII up 84.69% and 9.2% YoY respectively; GNPAs climbed down QoQ to 2.4% from 3.36%. 5D share price movement +2.19%.

RIL: The conglomerate is planning on launching its own omnichannel beauty platform to rival Nykaa. It is also in talks with investors to raise up to $1.6bn for its broadcasting business. Buyers like the Murdochs and Disney are in talks to pick up stakes in the venture. 5D share price movement -5.28%.

Maruti Suzuki: The automaker said profit dived 48% YoY to ₹1,011cr ($137.5m) in Q3, albeit beating expectations. The company also insisted that the results were affected due to electro-component shortages. [What Shortages?] 5D share price movement +6.73%.

LIC: The IPO-bound life insurer reported a 238x YoY jump in net profit to ₹1,437cr ($192.1m), 5% rise in revenue and 1% rise in net premiums in HYFY22. This was the first time the company announced its financial results, ahead of its widely anticipated IPO.

Adani Wilmar: The company’s IPO opened for subscription on Thursday. As of Friday, it was subscribed 1.13 times, with the retail portion booked 1.85x. [Should You Invest?]

Canara Bank: Lender's Q3 earnings showed net profit more than doubling on a YoY basis to ₹1,502cr ($199.94m). Its NII, meanwhile, surged over 14% YoY. 5D share price movement +7.33%.

Future Group: The company will sell 25% stake in its insurance JV to Generali, the Italy-based insurer, for ₹1,253cr ($166.7m), in an effort to monetise assets and pay debts. 5D share price movement -3.55%.

Apple: The tech giant recorded its largest single quarter in revenues ever (11% YoY to $123.9bn) beating all estimates despite challenges in supply chain and chip shortages. 5D share price movement +6.40%. [More on the Chip Shortages]

Google: Alphabet, meanwhile, plans to invest $1bn in Bharti Airtel to cement its plans of digital expansion in India. 5D share price movement +3.37%.

FIN.
 

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