Stocks to Watch: IndusInd Bank, Titan Jewellery, Marisco, Dabur, BoB, Adani Wilmar

IndusInd Bank: IndusInd Bank’s advances grew 16% to ₹3.48 lakh crore over the past year. Deposits grew 15% year-on-year to ₹3.98 lakh crore. CASA ratio fell to 36.7% from 39.9% last year and 37.9% in March.

Titan Jewellery: Titan Jewellery’s domestic business grew nearly 8%. Overall growth was 9% year-on-year. Higher gold prices and fewer wedding days impacted consumer demand, keeping the overall mood somewhat subdued. The watches and wearables business grew 15% over last year, while the eyecare business grew 3%.

Marisco: Consolidated revenue grew in high single digits, and we expect it to grow further during the year. Gross margin is also expected to expand year-on-year due to better portfolio mix. Underlying volume growth moderated on a sequential basis in the domestic business. Parachute coconut oil witnessed low single-digit volume growth, but is expected to grow significantly in the remainder of the year, as there are positive trends in offtake growth. Saffola Oils witnessed mid-single-digit volume growth. Value-added hair oils had a slow start to the year as competitive headwinds persist.

Dabur: Demand patterns are seeing sequential improvement with rural growth picking up. The improvement is expected to accelerate in the coming months. Consolidated revenue is expected to grow in the mid to high single-digit range, while volume growth in India could be in the mid single-digit range. The HPC and Healthcare category is projected to grow in high single digits. International commerce is likely to grow strongly in constant currency terms. Gross margins may expand.

Bank of Baroda: Bank of Baroda’s domestic advances grew 8.5% to ₹8.82 lakh crore over the previous year. Domestic retail advances grew 20.8% to ₹2.22 lakh crore. Global advances grew 8.1% to ₹10.72 lakh crore. Domestic deposits grew 5.25% to ₹11.05 lakh crore.

Adani Wilmar: Adani Wilmar’s strong volume growth of 13% was driven by targeted category-specific strategies aimed at gaining market share, especially in under-listed sectors. Alternate channels saw volume growth of 19%. Branded export volumes grew 36% year-on-year. Food and FMCG business volumes grew 23% over the previous year. Despite industry problems, the edible oils business continues to thrive. Year-on-year, the edible oil business grew 13% in volume and 10% in value.

Nykaa: Sales are expected to grow 22% to 23% in the first quarter. Gross merchandise value growth for the quarter is estimated to be in the mid-20s. Beauty vertical revenue growth for the quarter is estimated to be between 22 and 23 percent, similar to the consolidated entity’s revenue growth. GMV growth is estimated to be far higher, in the high twenties. The fashion segment is estimated to do well, with revenue growth around 20%. Quarterly GMV growth rate is estimated to be in the mid-teens.