Stocks To Watch On 23 July: IndusInd Bank, HPCL, Dr Reddy's Laboratories And More

Indian equity benchmarks extended losses for a third straight session on Wednesday, 22 July, as rising crude oil prices and escalating geopolitical tensions in West Asia dampened investor sentiment. The BSE Sensex declined 715.06 points (0.92%) to close at 76,755.05. The NSE Nifty 50 fell 191.45 points (0.79%) to settle at 23,996.25.

Key Stocks In Focus

IndusInd Bank

IndusInd Bank reported a 46.5% year-on-year increase in net profit to ₹1,002.5 crore for the June quarter, comfortably beating analysts' expectations of ₹725 crore. The lender had posted a profit of ₹684 crore in the corresponding period last year.

HPCL

Hindustan Petroleum Corporation Ltd (HPCL) reported a net loss of ₹11,526.4 crore for the June quarter, compared with a net profit of ₹4,901.5 crore in the preceding quarter. The sharp turnaround was primarily due to weak marketing margins.

Dr Reddy's Laboratories

Dr Reddy's Laboratories delivered weaker-than-expected June quarter results, with revenue, profit and operating performance falling short of market estimates. The pharmaceutical major also recorded a notable year-on-year decline across key financial metrics.

Sona BLW Precision Forgings

Sona BLW Precision Forgings Ltd (Sona Comstar) announced a strategic partnership with Japan's DENSO Corporation to establish two joint ventures for developing, manufacturing and marketing electric and hybrid powertrain systems across multiple vehicle segments.

IIFL Finance

IIFL Finance reported a 189.3% year-on-year surge in consolidated net profit to ₹675.1 crore for the June quarter, compared with ₹233.4 crore in the same period last year.

Nippon Life India Asset Management

Nippon Life India Asset Management posted a 27.2% year-on-year rise in net profit to ₹504 crore for the first quarter of FY27, up from ₹396 crore in the corresponding quarter last year.

Shoppers Stop

Shoppers Stop reported revenue from operations of ₹1,291.4 crore for the June quarter, marking an 11.2% increase from ₹1,161.1 crore in the year-ago period.

UCO Bank

UCO Bank reported an 8% year-on-year increase in net profit for the June quarter, supported by healthy growth in net interest income, lower provisions and improving asset quality.

NACL Industries

NACL Industries posted a 59.8% year-on-year increase in consolidated net profit after tax to ₹20.84 crore for the quarter ended 30 June 2026, compared with ₹13.04 crore a year earlier.

Q1 Earnings Today

Companies scheduled to announce their results include:

• 3i Infotech
• Banaras Beads
• Capital Small Finance Bank
• Chennai Petroleum Corporation
• Cipla
• Coromandel International
• Indiabulls
• Indian Energy Exchange (IEX)

Also Read - Shoppers Stop Q1 FY27 Results: Sales Surgec 6% To ₹1,336 Crore