The Indian benchmark indices are likely to open higher Monday following gains in Asian peers. The trend on SGX Nifty also indicates a solid gap-up start ahead for the broader index in India. The Nifty futures were trading 72.50 points or 0.46 percent higher at the 15,800.50 level on the Singaporean Exchange at 7:15 am, cncbctv18.com reported.
Top stock to look for the day:
Avenue Supermarts: The company reported sharply higher standalone profit at Rs 115.13 crore in Q1FY22 against Rs 49.56 crore in Q1FY21,while revenue jumped to Rs 5,031.75 crore from Rs 3,833.23 crore YoY.
Maruti Suzuki India: The homegrown automaker announced the nationwide roll-out of its digital platform Maruti Suzuki Smart Finance that provides customers end-to-end online car financing solutions.
Federal Bank: The Reserve Bank of India (RBI) has approved the re-appointment of Shyam Srinivasan as the MD & CEO of the bank for a period of three years w.e.f. September 23, 2021, till September 22, 2024.
Equitas Small Finance Bank: The lender has received the RBI’s approval to apply for the scheme of amalgamation.
JSW Energy: Karcham Wangtoo Hydro Electric Power Plant – a JSW Hydro Energy owned subsidiary –has completed the trial run for 1,045 MW and commenced commercial operation.
NBCC (India): The state-owned company has awarded orders worth Rs 320 crore.
Unichem Laboratories: The pharmaceutical company has received tentative approval for Abbreviated New Drug Application of Sitagliptin tablets USP, 25 mg, 50 mg, and 100 mg from the United States Food and Drug Administration (USFDA).
RattanIndia Enterprises: The company backed EV maker Revolt Motors has commenced delivery of the new batch of its electric bikes to customers.
SJVN: The company has signed a pact with the Investment Board of Nepal (IBN) to develop the 679-megawatt (MW) Lower Arun Hydro Electric Project in the country.
Emkay Global Financial Services: Equity Intelligence India sold a 0.76 percent stake in the company through an open market transaction, thus reducing shareholding to 2.6 percent from 3.36 percent on July 7.
Shaily Engineering Plastics: The company approved raising of funds up to Rs 300 crore, in one or more tranches, by way of issuance of securities through a qualified institutions placement//preferential offer and a combination thereof.
Vedanta: The company has raised the prices of Aluminium Ingots by nearly 2 percent.
Bhansali Engineering Polymers: The company reported a consolidated profit at Rs 77.38 crore in Q1FY22 against a loss of Rs 1.38 crore in Q1FY21. Revenue rose to Rs 231.91 crore from Rs 99.39 crore YoY.
Quess Corp: The company has increased its stake in digital gig worker platform Taskmo to 33.33 percent from 16.12 percent by investing Rs 3.2 crore.
Compucom Software: The company has earned a tender and received a Letter of Acceptance for IT enablement of PESA/FRA Acts with other schemes for Tribal Area Development (TAD) Department, Government of Rajasthan and operations and maintenance services for a period of six months from RISL worth Rs 58.40 lakh inclusive all incident charges and taxes and excluding GST.
Earnings: Dr Lalchandani Labs, HFCL, HMT, Ind Bank Housing, Indbank Merchant Banking Services, ISMT, Welcure Drugs & Pharmaceuticals, and Steel Strips Wheels among others will release their results on July 12.