Stocks in news: RIL, Kotak Bank, ICICI Bank, Axis Bank, JSW Steel

The January futures contract of Nifty 50 on the Singapore Exchange indicates a positive start to domestic equities on Monday. The contract was trading at 18,139, up 94.5 points or 0.52% from the previous close.

There will likely be stock specific action among index heavyweights Reliance Industries, ICICI Bank, Kotak Bank, that will decide the direction of the markets.

These stocks will be in focus today.

Reliance Industries
Oil-to-telecom conglomerate Reliance Industries Ltd's net profit fell 15% to Rs 15,792 crore in the December quarter, while revenue from operations rose 15% to Rs 2.20 lakh crore. The net profit was below the estimates. The weak performance in the oil-to-chemicals (O2C) segment was partly offset by growth in the consumer businesses.

Kotak Mahindra Bank
Private sector lender Kotak Mahindra Bank's standalone net profit jumped 31% to Rs 2,792 crore. The Bank's NII rose 30% year-on-year to Rs 5,653 crore. Its net interest margin (NIM) improved to 5.47% during the third quarter.

ICICI Bank
Private lender ICICI Bank posted 34% year-on-year growth in PAT at Rs 8,312 crore in the December quarter. The bank's net interest income (NII) increased by 35% year-on-year to Rs 16,465 crore in Q3.

YES Bank
YES Bank reported a steep fall in net profit at Rs 51 crore for the three months ended December, largely due to higher provisioning. Provisions during the quarter rose 45% sequentially to Rs 845 crore. The Bank's net interest income (NII) grew 12% to Rs 1,971 crore during the third quarter.

Ultratech Cement
Aditya Birla Group company UltraTech Cement saw 38% year-on-year fall in its consolidated PAT at Rs 1,058 crore in Q3. Its revenue from operations, however, rose 19% year-on-year to Rs 15,521 crore. The company's operating margin dropped to 15% year-on-year.

SBI Life
Insurance company SBI Life Ltd has reported a net profit of Rs 304 crore for the three months ended December 2022, which is down about 16% from Rs 364 reported in the same period of last year.

JSW Steel
Steel major JSW Steel's net profit tanked 89% to Rs 490 crore for the three months ended December 2022, missing the Street estimates by a long margin. Revenue from operations, meanwhile, grew 2% year-on-year to Rs 39,134 crore as against Rs 38,017 crore reported in the corresponding period of last year.

Axis Bank
Private lender Axis Bank is expected to report strong growth in net profit in the third quarter, mainly driven by healthy net interest income growth and loan book. Net profit during the quarter may grow up to 55% year-on-year.

LTIMindtree
IT Company LTIMindtree had posted 5% growth in net profit at Rs 1,000 crore, but missed the Street estimates. On the other hand, revenue growth stood at 25% to Rs 8,620. The firm has also declared an interim dividend of Rs 20 per equity share.

Union Bank
Union Bank has reported 107% year-on-year growth in third quarter net profit at Rs 2,245 crore. The net interest income (NII) during the quarter rose 20%.

IDBI Bank
IDBI Bank shares will be in focus today as the company will announce its third quarter results. So far this year, the company's shares were down 1% on a year-to-date basis

IDFC First Bank
Private lender IDFC First Bank's net profit more than doubled to Rs.605 crore in the third quarter of the current financial year, largely driven by strong growth in core operating income.