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EconomyResults

Bajaj Finance, UltraTech and Hindustan Zinc lead Monday's results

About two dozen companies are due to report September-quarter numbers on 19 October, from consumer lenders and cement to zinc and a state-run bank.

From the editorial desk · MumbaiPublished
Bajaj Finserv chairman Sanjiv Bajaj (file photo)
Bajaj Finserv chairman Sanjiv Bajaj (file photo)Photo: Sanjiv Bajaj / Wikimedia Commons, CC BY 2.0

Key points

  1. About two dozen companies are scheduled to report on Monday, 19 October.
  2. Bajaj Finance has set an earnings call for the same day.
  3. Union Bank of India follows record profits at PNB and gains at the big private banks.

Monday brings the first big batch of results in what is shaping up to be a crowded week, with about two dozen companies due to report their July-September numbers on 19 October.

The best-known names are Bajaj Finance, the consumer and business lender, and UltraTech Cement, the Aditya Birla group’s cement maker. Bajaj Finance has scheduled an earnings call with analysts for the same day. Its mortgage arm, Bajaj Housing Finance, reported on Friday that its profit rose 18% as its home loan book grew 25%.

Hindustan Zinc, the Vedanta group’s zinc and silver miner, also reports, as does Union Bank of India, one of the larger state-run lenders. Union Bank’s numbers will be compared with those of Punjab National Bank, which posted a record profit on Friday, and with a strong set from private banks on Saturday, when ICICI Bank’s profit rose 20% and Axis Bank’s 38%.

The rest of the list

Other financial companies on the calendar are the state-owned Indian Renewable Energy Development Agency (IREDA) and Piramal Finance. From technology and telecom come L&T Technology Services, Just Dial, HFCL and Nelco.

Property developer Sobha, casino operator Delta Corp, Waaree Renewable Technologies and Jaiprakash Power Ventures are also due, along with smaller industrial and chemical companies including Gallantt Ispat, SML Mahindra, Tatva Chintan Pharma Chem and Bhansali Engineering Polymers.

The companies have not said what time they will release their figures. Monday’s session itself will take its lead from Saturday’s bank results and from oil, which closed near $110 a barrel on Friday night.