Stocks to Watch: SBI, Coal India, Future Retail, Eicher Motors, telcos

State Bank of India: The country’s largest lender expects to recover around ₹8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal ending 31 March. During the December quarter, SBI recovered ₹1,500 crore from written-off accounts and for the nine months during April-December FY22, the recovery amount stood at ₹5,600 crore.

Future Retail: Lenders to Future group have agreed to halt the sale of Future Retail Ltd’s (FRL) small-format stores until the Supreme Court gives its verdict in a case between Amazon.com Inc. and the founders of Future Group over the latter’s sale of assets to Reliance Industries Ltd.

Coal India: The total dividend payout by Coal India during the current fiscal is likely to be higher than what was paid out in 2020-21 as the miner is expected to post healthy revenue and growth in profit. The miner had announced a first interim dividend at ₹9 per share in December.

Telecom stocks: The long-awaited 5G spectrum auction is expected to be held in May this year if the Telecom Regulatory Authority of India (Trai) submits by March its recommendations on the rules regarding the sale process.

Godrej Properties: The company plans to invest around ₹7,500 crore over the next 12-18 months on acquisition and development of new real estate projects, given that it is sitting on a huge cash pile.

IDBI Bank: With Life Insurance Corp. (LIC) becoming a parent to both IDBI Bank and LIC Housing Finance, either of the subsidiaries will have to wind down its home loan business in the next 20 months, according to the Reserve Bank of India’s (RBI’s) condition while approving the insurance behemoth’s takeover of the erstwhile public sector lender. In its approval letter dated 2 November 2018, for the acquisition of additional shares by LIC in IDBI Bank, the banking regulator had said either of LIC’s associates would have to cease its housing finance busines

Eicher Motors: The automobile company will declare its December quarter results on Monday. Analysts expect the company to report a year-on-year decline in its net profit due to lower volumes and raw material inflation. Revenues are, however, expected to rise aided by higher realisations due to price hikes and better product mix. It had reported a consolidated net profit of ₹532.6 crore in the year-ago quarter, with revenues at ₹2,828 crore.

IL&FS group stocks: IL&FS group would resolve ₹55,000 crore in debt by March 2022, the board of the crisis-hit company has said in an affidavit filed before the National Company Law Appellate Tribunal (NCLAT). The IL&FS board, led by Uday Kotak, said ₹55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives.

ONGC: Reported a 45% year-on-year rise in its December quarter revenue to ₹1,45,685 crore, led by higher realisation in its core oil and gas business. Net profit surged 220% to ₹11,637 crore..

TVS Motor: Promoter Sundaram Clayton on Friday sold around 95 lakh shares or 2% stake in the company at an average price of ₹635.97 apiece via open market transaction on the BSE. With this, Sundaram Clayton’s stake will fall to 50.26% from 52.26% earlier.