Stocks in news: Tata Motors, IndusInd Bank, Maruti Suzuki, Granules India and more
Benchmark indices were likely to open higher today as Nifty futures on the Singapore Exchange rose 22.5 points to 15,764. On Tuesday, Indian equity market closed lower amid subdued global cues. Sensex declined 273 points to 52,578 and Nifty slipped 78 points to 15,746.
Here’s a look at stocks that are likely to remain in news today.
Tata Motors: The homegrown auto firm logged a net loss of Rs 4,451 crore for April-June quarter compared to the Rs 8,438 crore net loss during the same period last year. Tata Motors’ consolidated revenue rose 107.6 per cent on a year-on-year basis to Rs 66,406 crore. Among its subsidiaries, Jaguar Land Rover (JLR) saw 73.7 per cent rise in revenue to 4.96 billion pound sterling.
Maruti Suzuki: The carmaker will announce its earnings for the quarter ended June today.
IndusInd Bank: The lender’s net profit doubled to Rs 1,016 crore in the June 2021 quarter, on a fall in provisioning and a surge in other income. The bank had posted a net profit of Rs 510.39 crore in the corresponding quarter of the previous financial year.
InterGlobe Aviation: IndiGo’s operator logged its sixth consecutive quarterly loss in last quarter. The company reported a consolidated net loss of Rs 3,174.20 crore in Q1, its highest quarterly loss ever. In corresponding quarter of previous fiscal, the firm reported a loss of Rs 2,844.3 crore.
Larsen & Toubro: The engineering firm said its board has cleared the amalgamation of the firm’s wholly owned arm L&T Hydrocarbon Engineering with the parent firm. The nod was given in the meeting of board of directors.
ICICI Lombard, DRL: ICICI Lombard General Insurance Company and Dr Reddy’s Laboratories-owned SVAAS Wellness will offer cashless outpatient services to health insurance policyholders.
Granules India: The drug firm reported a 8 per cent rise in its consolidated net profit to Rs 120 crore in Q1 against net profit of Rs 111 crore for the corresponding period of the previous fiscal.
Shriram Transport Finance: The company has issued 1,000 non convertible debentures of face value Rs 10 lakh each. The issue size is Rs 100 crore with a greenshoe option of Rs 250 crore, with a coupon of 7.95% per annum, to mature on 16 June 2023.
Nestle India: The FMCG firm will report its Q1 earnings today.
Canara Bank: The state-run lender logged a nearly three-fold rise in its net profit to Rs 1,177 crore for the quarter ended June led by a fall in the provision for bad loans. The bank had reported a profit of Rs 406 crore in the corresponding period a year ago.
Dalmia Bharat: The cement maker reported a 45.02 per cent rise in consolidated net profit at Rs 277 crore in Q1 helped by sales volume growth and a lower base. The company had clocked a net profit of Rs 191 crore in April-June period a year ago.
Adani Ports: The Adani group’s transport and logistics arm said it has raised $750 million from overseas investors through a bond offering. Adani Ports said it has priced the $750 million senior unsecured dollar notes issuance with 20 years and 10.5 years tranches at a fixed coupon of 5.0% and 3.8% respectively. The issuances were subscribed over three times, the company said.
FMCG stocks: The revenue of fast-moving consumer goods (FMCG) sector is expected to double from last year to 10-12% this fiscal, rating firm Crisil said in a research note. The growth, the highest in the last three fiscals, will be driven by a combination of price-led growth and a favourable base of last fiscal. It expects demand for discretionary products to improve too in the near term.
News Credit : Business Today
