Indian benchmark indices are likely to open higher on Wednesday, following trend on the Singapore-traded SGX Nifty indicating a positive start for Dalal Street. However, weak global cues may let down sentiment. At 7:15 am, the Nifty futures was trading 40.50 points or 0.26 percent higher at 15,782.50,level on the Singapore Exchange, cncbctv18.com reported.
Top stocks to look for the day:
IndusInd Bank: The private lender posted a higher profit at Rs 974.95 crore in Q1FY22 against Rs 460.64 crore in the corresponding year ago period. Net interest income rose to Rs 3,563.71 crore from Rs 3,309.19 crore YoY.
Larsen & Toubro: The company’s board has approved the merger of its wholly-owned subsidiary L&T Hydrocarbon Engineering Ltd with the parent company.
InterGlobe Aviation: The domestic airline reported a consolidated net loss of Rs 3,174.2 crore in Q1FY22 against a loss of Rs 2,844.3 crore in the year-ago quarter.
Cyient: The Indian multinational tech company has inked a definitive agreement to acquire a 100 percent stake in WorkForce Delta (WFD).
Dalmia Bharat: Helped by sales volume growth and a lower base, the company reported a 45.02 percent rise in consolidated net profit at Rs 277 crore in the first quarter ended June 30, 2021. Meanwhile, revenue from operations went up 36.19 percent to Rs 2,589 crore from Rs 1,901 crore, YoY.
Granules India: The drug maker reported an 8 percent YoY rise in net profit at Rs 120 crore for Q1FY22 from Rs 111 crore in Q1FY21. Consolidated revenue from operations increased to Rs 850 crore from Rs 736 crore, YoY.
Torrent Pharma: The company reported a 2.8 percent YoY rise in Q1FY22 net profit at Rs 330 crore, as against Rs 321 crore in the corresponding period last year. The company’s revenues also grew in single digits at 3.8 percent to Rs 2,134 crore from Rs 2,056 crore, YoY.
Foseco India: The company reported a net profit at Rs 6.3 crore in Q1FY22 against a loss of Rs 2.92 crore in Q1FY21.
VST Industries: The tobacco products manufacturer’s profit in Q1FY22 declined to Rs 70.44 crore from Rs 75.71 crore in Q1FY21. Revenue was up at Rs 368.11 crore from Rs 314.91 crore, YoY.
Pidilite Industries: The company’s subsidiary Madhumala Ventures will make an additional investment of Rs 14.96 crore in Aapkapainter Solutions Pvt Ltd. The move will increase its stake from 28.89 percent to 47 percent.
Karnataka Bank: The public sector bank reported a nearly 46 percent fall in net profit at Rs 106.08 crore in Q1FY22. The private lender’s net profit stood at Rs 196.38 crore in Q1FY21. While net interest income increased to Rs 574.79 crore from Rs 535.12 crore, YoY.
IIFL Finance: The company reported a higher profit at Rs 265.82 crore in Q1FY22 against Rs 31.83 crore in the year-ago period. Revenue increased to Rs 1,514.4 crore from Rs 1,286.95 crore, YoY.
Shemaroo Entertainment: The company posted a net loss of 1.4 crore in Q1FY22 against a loss of Rs 13 crore in Q1FY21. While revenue dropped 13.2 percent to Rs 74.8 crore from Rs 86.2 crore, YoY.
Earnings: ABB India, Coforge, Central Bank of India, Century Textiles & Industries, Dhanlaxmi Bank, Embassy Office Parks REIT, Gateway Distriparks, Geojit Financial Services, Happiest Minds Technologies, Intellect Design Arena, IDBI Bank, Mahanagar Gas, Maruti Suzuki India, Mahindra Lifespace Developers, Nestle India, Pfizer, RPG Life Sciences, Ramco Systems, Radico Khaitan, Route Mobile, SRF, Sagar Cements, Tata Coffee, TeamLease Services, United Breweries, UTI Asset Management Company and Welspun India among others will release their quarterly earnings on July 28.