STOCK MARKET

Stocks to Watch Today: RIL, Infosys, Axis Bank, Tata Steel, Tech M, and Others

Stocks to watch today: Shares of firms like RIL, Infosys, Axis Bank, Tata Steel, Tech M, and others will be in focus in Monday’s trade

Indian equities closed on a higher note in the last session, extending their winning run to the sixth consecutive session, as bulls gained momentum. Benchmark share indices gradually reclaim milestones one after another, with Nifty rising from its 52-week low of 15,190 hit in June to 16,700 levels on July 22.

On Friday, the BSE Sensex settled at 56,072, up 390 points, while the Nifty50 consistently traded above 200 days exponential moving average and rose 114 points to close at 16,719, taking the total recovery to 10 per cent from the 52-week lows.

Read More: FD Interest Rates 2022: FD interest rate rising – should you choose long-term or short-term FD?

Results Today

Axis Bank, Tata Steel, Tech Mahindra, Canara Bank, Macrotech Developers, KPIT Technologies, Aether Industries, Anupam Rasayan India, Aurionpro Solutions, Central Bank of India, Century Textiles & Industries, Chennai Petroleum Corporation, Craftsman Automation, Glaxosmithkline Pharmaceuticals, Indian Energy Exchange, IIFL Wealth Management, Jindal Stainless, Jyothy Labs, Lakshmi Machine Works, Orient Electric, RattanIndia Power, Sharda Cropchem, Sterlite Technologies, Tanla Platforms, Tatva Chintan Pharma Chem, and Tejas Networks will be in focus ahead of June quarter earnings on July 25.

Reliance Industries

The billionaire Mukesh Ambani-owned company reported robust operating and financial performance across all businesses for the quarter ended June 2022, with highest ever quarterly revenue for O2C (oil-to-chemical) business in a volatile environment, and best ever quarterly revenue for Reliance Retail, and Jio Platforms. The company clocked a 41 per cent year-on-year growth in consolidated profit after tax at Rs 19,443 crore in Q1FY23, and gross revenue grew by 53 per cent to Rs 2,42,982 crore for the quarter YoY, while EBITDA for the quarter at Rs 40,179 crore was higher by 45.8 per cent.

ICICI Bank

The country’s second-largest private sector lender clocked a 50 per cent year-on-year growth in standalone profit at Rs 6,905 crore for the quarter ended June 2022, as bad loan provisions declined sharply YoY. Net interest income increased by 20.8 per cent to Rs 13,210 crore, compared to Rs 10,936 crore reported in corresponding period previous fiscal, with 21 per cent growth in advances and 13 per cent increase in deposits YoY. Asset quality showed improvement on sequential basis.

Read More: Indian Railways: IRCTC launches tour package to Tirupati, price starts at Rs 36,330

Kotak Mahindra Bank

The bank clocked 26.1 per cent year-on-year increase in standalone profit at Rs 2,071.15 crore for the quarter ended June 2022, aided by lower bad loan provisions, with improving asset quality performance. Net interest income grew by 19.2 per cent YoY to Rs 4,697 crore for the quarter.

Yes Bank

YES Bank has reported a 50.17 per cent year-on-year growth in profit after tax at Rs 310.63 crore for Q1FY23, with significant fall in bad loan provisions and higher net interest income. Net interest income for the quarter rose 32 per cent YoY to Rs 1,850 crore, with 14 per cent YoY credit growth and 18 per cent increase in deposits.

GAIL India

The state-owned natural gas company said the board will hold a meeting on July 27 to consider issuance of bonus shares. Hence, the trading window for dealing in securities of GAIL for designated persons and their immediate relatives will remain closed till the approval of financial results for the quarter ended June 2022.

JSW Steel

The steel company has recorded a 86 per cent year-on-year decline in consolidated profit at Rs 839 crore for the quarter ended June 2022, impacted by weak operating performance. Operating expenses were higher including higher input cost, finance cost, and power & fuel cost. Revenue increased 32 per cent to Rs 38,086 crore during the quarter YoY.

Granules India

The US FDA has completed an inspection of the facility of Granules Pharmaceuticals Inc, with six observations. Granules Pharmaceuticals Inc is a wholly-owned foreign subsidiary of the company located at Virginia, USA and inspection of the said facility by USFDA completed on July 22.

HFCL

The telecom equipment & optical fiber solutions provider has registered 42 per cent year-on-year decline in profit at Rs 53 crore for quarter ended June 2022 impacted due to spill over of service billing followed by non-availability of required infrastructure from the customer end and also continued shortage of semiconductors. Revenue declined 13 per cent to Rs 1,051 crore during the same period, but exports grew by 167 per cent YoY, with strong order book worth more than Rs 5,300 crore as of June 2022.

DISCLAIMER:Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Source :
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top