RVNL, IndusInd, NTPC Green, IRCON, ONGC, OIL, PFC: Stocks mixed ahead of Q4 results

Stocks such as Sensex constituent IndusInd Bank Ltd, oil PSUs ONGC and Oil India, railway PSUs Rail Vikas Nigam Ltd (RVNL) and  IRCON International Ltd, and NTPC Green Energy Ltd were trading in a tight range ahead of their March quarter results. 

IndusInd Bank fell 1.22 per cent to Rs 772.45, as the private lender is expected to log huge losses in Q4, thanks to IndusInd Bank is staring at losses in the March quarter, thanks to Rs 1,960 crore accounting discrepancy on its derivatives portfolio, Rs 674-crore discrepancy on its MFI portfolio. The recent developments in terms of derivative losses, departure of MD & CEO and CFO in quick succession and interest income irregularities, indicate lapses in internal control and governance aspects, ICICI Securities noted.

Oil India shares advanced 1.08 per cent to Rs 427.60. ONGC was up 0.32 per cent at Rs 250.

In the case of Oil India and ONGC, Emkay Global said: "ONGC/Oil India’s total crude output is estimated to grow 1 per cent/remain flat YoY, whereas gas is forecasted to fall 3 per cent/grow 2 per cent. The scraping of windfall levy implies market-linked oil realizations for Q4FY25," EMkay Global said. 

It estimated Ebitda dip of 3 per cent QoQ for ONGC on higher opex, statutory levies, and survey costs, partly offset by lower dry well write-offs. OIL is likely to see a 7 per cent uptick due to better oil sales, Emkay Global said. 

"We estimate ONGC/OIL’s reported PAT at Rs 7,900 crore/Rs 1,400 crore during Q4FY25. We estimate sequential improvement in NRL earnings," EMkay said. 

Among railway PSUs, IRCON International was trading 1.54 per cent higher at Rs 191.20. RVNL also gained 0.4 per cent to Rs 416.70. NTPC Green Energy Ltd was flat at Rs 103. PFC added 0.84 per cent to Rs 410.

Meanwhile, ITC shares were quoting 0.43 per cent higher at Rs 436.70 on BSE. The FMCG major is expected to report up to 9 per cent YoY rise in net sales on a flat-to-8 per cent YoY drop in net profit on Thursday. Analysts views differ as they incorporated the Hotels business demerger into account.  Besides eanrings, the ITC board is also likely to consider and approve final dividend for the financial year FY2024-25.