Stocks to watch for October 6: Trent, Godrej Consumer, Axis Bank, Kotak Mahindra Bank
Stocks to watch on October 6: Trent, Godrej Consumer, Axis Bank and Kotak Mahindra Bank will be in focus after their Q2 business updates and strong growth trends.
There are several stocks that are in focus after the announcement of their quarterly business updates. Investors would watch out for share prices of Trent, Godrej Consumer, Axis Bank, and Kotak Mahindra Bank in trade on October 6.
A quick look at the details why these stocks would be in focus.
The Trent share price is in focus after the company’s standalone revenue for Q2 grew 23% year-on-year to Rs 5,788 crore.
Trent’s revenue in the first half of FY27 was up 21% YoY at Rs 11,454 crore, it said in an update on Monday, October 5. Trent’s revenue from sale of merchandise, excluding other operating income, also grew by 23% for Q2 and 21% in the first half of the year.
The company net opened 10 Westside stores in Q2 and 17 Zudio stores.
Godrej Consumer expects to deliver a “strong” performance in Q2 despite consumption being impacted by uneven monsoon amid an intensifying El-Nino and inflationary pressures across commodity-linked inputs, it said Monday.
The share price of Godrej Consumer will be in focus as the company expects to report consolidated revenue growth in “high-teens” for the quarter and “high-single-digit” underlying volume growth. It also projected a double-digit growth in earnings before interest, tax, depreciation, and amortisation, EBITDA, for the quarter.
“Our Standalone business is expected to deliver revenue growth in the teens and high-single-digit underlying volume growth, despite an estimated impact of approximately 100–150 basis points from trade inventory correction,” the company said. This will be supported by healthy growth across its personal care and home care portfolios.
The company said it remains on track to deliver the full year guidance, with the confidence to exceed its outlook in select areas.
The Axis Bank share price will be in focus as its gross advances rose 22.7% YoY and 8.8% quarter-on-quarter to Rs 13.85 lakh crore as of September 30. The private lender’s total deposits grew 20.7% YoY and 5.8% QoQ to Rs 14.52 lakh crore in the same period.
Its current account saving account, CASA, end balance was up 10.6% YoY and 5.8% sequentially at Rs 5.30 lakh crore as of September 30. The bank’s term deposits rose 27.3% and 8.4% sequentially to Rs 9.23 lakh crore.
The bank said it mobilised $10.62 billion, or Rs 1.02 lakh crore, in foreign currency non-resident (bank), FCNR(B), as of September 30.
The Kotak Mahindra Bank share price will be in focus as its net advances rose 24.7% YoY and 12.7% QoQ to Rs 5.77 lakh crore as of September 30. Its total deposits rose 23.2% and 13.7% sequentially to Rs 6.51 lakh crore. The bank’s CASA was up 11.3% YoY and 7.8% QoQ at Rs 2.49 lakh crore as of September 30.
Kotak Mahindra recorded FCNR(B) deposits of $5.78 billion or Rs 55,344 crore as of September 30.
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