IIndian stock markets are likely to open higher on Thursday as Asian peers rose early after US Federal Reserve left its benchmark interest rate near zero. At 7:15 am, the Singapore-traded SGX Nifty was trading 23.00 points or 0.15 percent higher at 15,730.00, signalling a positive start for the broader index in India, cnbctv18.com reported.
Top stock to look for the day:
HDFC Ltd: The country’s largest mortgage lender augmented its existing limit to raise funds through medium-term notes to up to USD 2.8 billion.
Tatva Chintan Pharma Chem: The company’s shares will be listed on the bourses today.
Nestle India: The food and beverage major reported a 10.7 percent year-on-year growth in its net profit to Rs 538.5 crore for the quarter ended June 2021, from Rs 486.6 crore in the year-ago quarter. Revenue from operations increased 14 percent to Rs 3,476.7 crore from Rs 3,050.5 crore, last fiscal.
Axis Bank: The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 crore on the private lender for non-compliance with certain provisions, which include a cybersecurity framework.
HCL Technologies: The IT major has named Jill Kouri as Global Chief Marketing Officer.
Mahanagar Gas: The company posted a higher profit at Rs 204.08 crore in Q1FY22 against Rs 45.25 crore in in the same period a year back. Net sales jumped by more than double to Rs 666.85 crore from Rs 277.47 crore YoY.
United Breweries: The company reported a consolidated net profit of Rs 30.8 crore for the quarter ended June 2021, against a loss of 114.3 crore during the April-June period of the previous fiscal. Revenue from sales jumped to Rs 1,118 crore from Rs 506.8 crore, YoY.
ABB India: The company’s board approved the proposal to sell its Dodge unit to RBC Bearings Inc. The company reported a four-fold jump in its standalone net profit to Rs 68 crore in Q2CY22, compared to Rs 16.8 crore in the year-ago period. Revenue increased 44.6 percent to Rs 1,425 crore from Rs 985.8 crore, YoY.
JK Agri Genetics: The company reported a profit of Rs 23.04 crore in Q1FY22 against Rs 19.20 crore in the corresponding period last year. While revenue rose to Rs 131.56 crore from Rs 123.62 crore, YoY.
Happiest Minds Technologies: The company reported a 29 percent decline in Q1FY22 consolidated net profit to Rs 35.73 crore in the June 2021 quarter against a net profit of Rs 50.18 crore in the year-ago period.
Route Mobile: The company reported a higher consolidated net profit at Rs 34.32 crore in Q1FY22 against Rs 26.93 crore in Q1FY21. Revenue increased to Rs 377.52 crore from Rs 309.61 crore, YoY.
JM Financial: The company’s net profit grew by 117.01 per cent to Rs 203.14 crore in Q1FY21, as against net Rs 93.61 crore in the corresponding period a year ago. Revenue jumped 43.6 percent to Rs 992.5 crore from Rs 691.1 crore, YoY.
WABCO India: The company posted a profit of Rs 21.38 crore in Q1FY22 against a loss of Rs 31.36 crore in Q1FY21. Revenue jumped to Rs 491.91 crore from Rs 165.96 crore, YoY.
Earnings: Ajanta Pharma, AAVAS Financiers, Colgate-Palmolive (India), Container Corporation of India, Dwarikesh Sugar Industries, Eris Lifesciences, Future Retail, GHCL, Home First Finance Company India, Indus Towers, Jyothy Labs, JK Lakshmi Cement, Jindal Stainless (Hisar), LIC Housing Finance, Laurus Labs, Motilal Oswal Financial Services, Mahindra Holidays & Resorts India, Oberoi Realty, PVR, Parag Milk Foods, Punjab & Sind Bank, TVS Motor Company, Tech Mahindra, Raymond, Shoppers Stop, Shriram City Union Finance, Union Bank of India, and Welspun Corp among others will release their quarterly earnings on July 29.
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