Indian markets are likely to open lower on Monday, following mixed global cues. At 7:15 am, the SGX Nifty was trading 90.50 points or 0.57 percent higher at 15,762.00, implying a negative start for the broader index in India, cncbctv18.com reported.
Top stock to look for the day:
Reliance Industries: The Mukesh Ambani-led company reported a consolidated profit at Rs 12,273 crore in Q1FY22 against Rs 13,227 crore in the year ago period. Revenue is at Rs 1,44,372 crore against Rs 1,54,896 crore, QoQ.
ICICI Bank: The private lender reported a sharply higher profit at Rs 4,616 crore in Q1FY22 against Rs 2,599.2 crore in Q1FY21. Net interest income increased to Rs 10,935.7 crore from Rs 9,279.8 crore YoY.
Cipla: The pharma company is recalling 7,228 bottles of Solifenacin Succinate tablets due to manufacturing issues in the US market. It is used to treat overactive bladder.
HDFC: International Finance Corporation (IFC) has provided a loan of USD 250 million to the bank to promote affordable green housing finance for low and middle-income borrowers.
ITC: The company’s Q1FY22 net profit jumped 28.6 percent to Rs 3,013.5 crore from Rs 2,342.7 crore in Q1FY21. Revenue soared 36.4 percent to Rs 12,959.2 crore from Rs 9,502 crore, YoY.
Ambuja Cements: The company’s Q2CY21 net profit jumped 59.5 percent to Rs 723.08 crore from Rs 453.4 crore. Revenue increased 54.9 percent to Rs 3,371.2 crore from Rs 2,176.8 crore YoY. Sales volume rose to 6.33 mt versus 4.19 mt, YoY.
IndusInd Bank: The bank’s board approved a proposition for raising funds up to Rs 30,000 crore through a mix of equity and debt to fund its business growth.
JSW Steel: The company posted a consolidated net profit of Rs 5,900 crore in Q1FY22 as against a loss of Rs 582 crore for the year-ago period. Revenue jumped to Rs 28,902 crore from Rs 11,782 crore, YoY.
NTPC: The energy conglomerate has commissioned a 800-MW Unit-2 of Darlipali Thermal Power Project, in Sundargarh, Odisha. With this, the total installed capacity of NTPC and its group has become 53450 MW and 66875 MW, respectively.
United Spirits: The company reported profit at Rs 69.1 crore in Q1FY22 against a loss of Rs 215.3 crore in Q1FY21, revenue jumped to Rs 1,615.1 crore from Rs 1,030.2 crore YoY.
SBI Cards and Payment Services: Q1FY22 net profit fell 22 percent to Rs 305 crore from Rs 393 crore, while total income increased to Rs 2,451 crore from Rs 2,196 crore, YoY.
GNA Axles: The company reported a higher profit at Rs 29.5 crore in Q1FY22 against Rs 27.6 crore in Q1FY21, revenue increased to Rs 329 crore from Rs 310.2 crore, YoY.
Yes Bank: The commercial lender’s net profit in Q1FY22 jumped to Rs 206.8 crore from Rs 45.44 crore, while NII fell 26.5 percent to Rs 1,402.1 crore from Rs 1,908.2 crore, YoY.
Earnings Today: Axis Bank, Apollo Pipes, Alembic Pharmaceuticals, Coromandel International, DLF, Glaxosmithkline Pharmaceuticals, Jindal Stainless, KPIT Technologies, Larsen & Toubro, Kotak Mahindra Bank, M&M Financial Services, Navin Fluorine International, SBI Life Insurance Company, Sun Pharma Advanced Research Company, Tata Motors, Vedanta, Zensar Technologies and Vakrangee, among others will release their quarterly earnings on July 26.