Indian benchmark indices are likely to see a flat opening on Friday, following a similar trend on the Singapore-traded SGX Nifty. At 7:15 am, the SGX Nifty was trading 11.50 points or 0.07 percent lower at 15,933.00 level, indicating a flat start for the broader index in India, cncbctv18.com reported.
Top stock to look for the day:
Wipro: The IT major ‘s Q1FY22 revenue increased by 12.5 percent to Rs 18,368.4 crore from Rs 16,334 crore in the corresponding period last year,while EBIT increased 2 percent to Rs 3,485.3 crore from Rs 3,417 crore, QoQ. The company expects Q2FY22 dollar revenue in the range of USD 2,535-2,583 million, a growth of 5-7 percent over Q1FY22.
Tata Motors: The automaker’sboard will consider raising up to Rs 500 crore via Non-convertible debentures (NCD) on July 20.
Cyient: The IT company reported Q1FY22 net profit at Rs 115 crore, registering a growth of 11.5 percent as compared to Rs 103.1 crore in Q1FY21. Revenue fell 3.2 percent to Rs 1,058.2 crore from Rs 1,093.1 crore, sequentially.
Bandhan Bank: The private lender’s deposits in Q1FY22 were at Rs 77,336 crore, up 27.6 percent, YoY, and down 0.82 percent QoQ. Advances were at Rs 80,128 crore, up by 7.8 percent YoY and down 7.9 percent, QoQ.
L&T Infotech: The company’s Q1FY22 net profit fell 9 percent to Rs 496.8 crore against Rs 545.7 crore in the same period last year,while revenue increased by 5.9 percent to Rs 3,462.5 crore from Rs 3,269.4 crore, QoQ. The company has also announced a special dividend of Rs 10 per share.
Tata Steel Long Products: The company reported a consolidated profit at Rs 331.61 crore in Q1FY22 against a loss of Rs 131.31 crore in Q1FY21. Revenue jumped to Rs 1,687.64 crore from Rs 653.1 crore YoY.
Sona Comstar: The Indian multinational company has collaborated with Israel’s IRP Nexus Group to initiate a project to co-develop a new magnet-less electric motor technology for the worldwide electric vehicles market.
Grasim Industries, Century Textiles & Industries: The companies have incorporated a joint venture named Birla Advanced Knits Pvt Ltd, which will undertake Knits manufacturing business.
Tata Elxsi: The company reported a lower profit at Rs 113.37 crore in Q1FY22 against Rs 115.16 crore in Q4FY21. Revenue increased to Rs 558.31 crore from Rs 518.39 crore QoQ.
Reliance Power: After getting the shareholders nod, the company has allotted 59.50 crore equity shares and 73 crore warrants convertible to Reliance Infrastructure.
Gati: The distribution and supply chain solutions company has transferred its 69.79 percent equity holding in Gati Kausar India to Mandala Capital AG Ltd.
Angel Broking: The company reported a higher consolidated profit at Rs 121.36 crore in Q1FY22 against Rs 101.9 crore in Q4FY21. While revenue increased to Rs 462.66 crore from Rs 408.6 crore QoQ.
Earnings Today: Den Networks, HDFC Asset Management Company, GNA Axles, Just Dial, L&T Finance Holdings and Visagar Polytex among others will release their quarterly earnings report on July 16.