The Indian bourses may open higher on Tuesday following gains in Asian peers and amid positive global cues. At 7:15 am, the SGX Nifty was trading 50.00 points or 0.32 percent lower at 15,824.00, indicating a positive start for Dalal Street, cncbctv18.com reported.
Top stock to look for the day
GlaxoSmithKline Pharmaceuticals: The pharma major reported a higher consolidated profit at Rs 121.08 crore in Q1FY22 against Rs 110.83 crore in the corresponding year ago period. Revenue increasesd to Rs 789.99 crore from Rs 648.59 crore YoY.
Tata Motors: The homegrown automaker’s Q1FY22 consolidated net loss narrowed to Rs 4,450.92 crore from Rs 8,437.99 crore in Q1FY21. While revenue doubled to Rs 66,406.45 crore from Rs 31,983.06 crore, YoY.
Larsen & Toubro: The infrastructure company reported a consolidated net profit of Rs 1,174.4 crore in Q1FY22 against Rs 303 crore in in the year-ago period. While revenue grew by 38 percent to Rs 29,334.7 crore from Rs 21,260 crore, YoY.
Axis Bank: The commercial lender’s Q1FY22 net profit rose 89.4 percent to Rs 2,160.1 crore from Rs 1,112.2 crore in Q1FY21. While net interest income rose by 11.1 percent to Rs 7,760.3 crore from Rs 6,985.3 crore, YoY.
DLF: The commercial real estate developer reported a net profit at Rs 337.2 crore in Q1FY22 as against a loss of Rs 71.5 crore in the in the corresponding period last year. While revenue jumped to Rs 1,139.5 crore from Rs 548.6 crore, YoY.
Vedanta: The company announced the expansion of smelter operations at Bharat Aluminium Company (BALCO) plant at a cost of Rs 6,611 crore. They will also set up a new carbon facility in Jharsuguda, Odisha at the cost of Rs 635 crore. The company reported a higher profit at Rs 4,224 crore in Q1FY22 against Rs 1,033 crore in Q1FY21, while revenue soared to Rs 28,412 crore from Rs 15,973 crore YoY.
HUDCO: The Government of India has decided to sell up to 8 percent stake sale in the state-run corporation at a floor price of Rs 45 apiece via an offer for sale (OFS) on July 27-28.
Biocon: The Indian biopharmaceutical company’s subsidiary Biocon Biologics has received an exclusive license to manufacture and commercialise monoclonal antibody, used in the treatment of COVID-19, in India and select international markets.
Equitas Holdings, Equitas Small Finance Bank: The board of directors and shareholders of Equitas Holdings and Equitas Small Finance Bank sanctioned the merger scheme of the two entities.
Jindal Stainless: The steelmaker will invest Rs 2,150 crore to double the capacity of its Jajpur facility to 2.10 million tonnes per annum (MTPA). The expansion will cater to the future growth of the company in domestic and international markets.
Zensar Technologies: The IT company reported a 38.9 per cent increase in net profit to Rs 101 crore for the June 2021 quarter, as against a net profit of Rs 72.7 crore in the year-ago period. Operating revenue declined 1.2 percent to Rs 936.8 crore from Rs 948.5 crore, YoY.
Vinati Organics: The specialty chemical manufacturing company has temporarily shut operations at its in Mahad unit, in Maharashtra, due to heavy rains.
Balkrishna Industries: HDFC Mutual Fund has sold a 2 percent stake in the tyre manufacturing company via open market, thus reducing its stake to 3.99 percent from 5.99 percent earlier.
Voltas: The Tata Group company will offer a 40 percent discount on Air Conditioners to Tata Power customers in Delhi.
Indiabulls Housing Finance: According to bulk deals data, Societe Generale sold a 0.72 percent stake in the company at Rs 289.33 a share on the NSE.
Earnings: Ansal Housing, Aarti Drugs, Canara Bank, Dixon Technologies, Dr Reddy’s Laboratories, Dalmia Bharat, EIH Associated Hotels, GM Breweries, Godawari Power & Ispat, Granules India, Greenlam Industries, Hindustan Fluorocarbons, IndusInd Bank, InterGlobe Aviation, IIFL Finance, Karnataka Bank, Mahindra Logistics, Ramco Cements, Sanofi India, Snowman Logistics, Torrent Pharmaceuticals, TTK Prestige, UCO Bank and VST Industries among others will release their quarterly earnings on July 27.