Indian stock markets are likely to open lower on Wednesday following mixed trends in global peers after a sharp escalation in the US inflation spooked investors while boosting dollar and treasury yields. The Singapore-traded SGX Nifty also indicates a subdued start for the broader index in India. The Nifty futures were trading 53.50 points or 0.34 percent lower at the 15,781.00 level on the Singaporean Exchange at 7:20 am, cnbctv18.com reported.
Top stock to look for the day:
Mindtree: The company’s Q1FY22 net profit rose 8.2 percent to Rs 343.4 crore from Rs 317.3 crore in Q4FY21. While revenue jumped 8.6 percent to Rs 2,291.7 crore from Rs 2,109.3 crore, QoQ.
Vedanta: The mining company’s total production at Zinc International rose 62 percent to 61,000 tonnes in Q1FY22.
NTPC: The company has received government approval to set up a 4,750 MW solar park in Gujarat.
Hindustan Zinc: The company’s mined metal production in Q1FY22 rose to 2,21,000 tonnes from 2,02,000 tonnes, YoY.
Indian Bank: The state-owned bank has received prior approval of the Reserve Bank of India (RNI) for the exercise of call option on the bank’s Outstanding Basel III Tier 2 Bonds Series I aggregating to Rs 600 crore.
Adani Enterprises: The company’s wholly owned subsidiary Adani Airport Holdings has taken over the management control of Mumbai International Airport (MIAL) from the GVK Group.
Torrent Power: The Supreme Court has stayed a Bombay High Court order that suspended the tender process for power distribution business in Dadra and Nagar Haveli, and Daman & Diu.
Tata Metaliks: The company reported a profit of Rs 94.72 crore in Q1FY22 against a loss of Rs 12.36 crore in the same period, year ago. Revenue rose to Rs 602.97 crore from Rs 209.94 crore, YoY.
Bank of Maharashtra: The Indian government owned bank opened its qualified institutional placement on July 13 at a floor price of Rs 24.89 per share for the issue.
Barbeque-Nation Hospitality: Credit rating agency ICRA has upgraded credit rating for the bank facilities of Barbeque-Nation Hospitality.
NBCC (India): The blue-chip Indian government enterprise has secured a total business of Rs 206 crore in June 2021.
Bodal Chemicals: Samyaktva Construction LLP acquired a 0.37 percent equity stake in the company, thus increasing shareholding to 5.27 percent from 4.9 percent earlier.
Earnings: Infosys, L&T Technology Services, 5paisa Capital, Craftsman Automation, Dodla Dairy, Essar Securities, Hatsun Agro Product, Tinplate Company of India, Vikas EcoTech, among others will release their quarterly report on July 14.