Indian markets are likely to open lower on Friday, following losses in Asian peers. The SGX Nifty also indicated a negative start as the Nifty futures was trading 88.00 points or 0.56 percent lower at 15,751.00 level at 7:15 AM on the Singapore Exchange, implying a negative opening for Dalal Street, cncbctv18.com reported.
Top stock to look for the day:
Tech Mahindra: The IT major’s Q1FY22 net profit jumped 30.8 percent to Rs 1,353.2 crore from Rs 1,081.4 crore in the year-ago period. The company’s total income in the quarter improved 7 percent MoM to Rs 10,485 crore.
Container Corporation of India: The state-owned entity reported a profit of Rs 258.4 crore for Q1FY22 against Rs 58.3 crore in Q1FY21. Total income jumped to Rs 1,819.9 crore from Rs 1,194.2 crore YoY.
TVS Motor Company: The two-wheeler maker reported a profit of Rs 53.1 crore in the quarter ended June 30, 2021 as against a loss of Rs 139.1 crore in the corresponding quarter last year. Revenue rose to Rs 3,934.4 crore from Rs 1,431.7 crore, YoY.
Indus Towers: The company posted a consolidated profit (post tax) of Rs 1,415 crore in the first quarter ended June 30, 2021 from Rs 1,121 crore in the same quarter a year ago. While revenue rose to Rs 6,797 crore from Rs 6,086 crore, YoY.
Union Bank of India: The state-owned bank reported a 254 percent (YoY) jump in its net profit to Rs 1,181 crore in Q1FY22 from Rs 333 crore in Q1FY21. Net interest income (NII) increased 9.53 percent to Rs 7,013 crore from Rs 6,403 crore, YoY.
Raymond: The company reported a consolidated net loss of Rs 157.10 crore for the quarter ended June 2021, against a loss of 247.6 crore in same quarter of the previous fiscal. However, its revenue from operation rose to Rs 825.7 crore from Rs 163.2 crore, YoY.
EIH: The hospitality firm’s Q1FY22 consolidated net loss narrowed to Rs 114.25 crore from Rs 152.06 crore in the corresponding period previous fiscal. Revenue from operations jumped to Rs 95.93 crore from Rs 29.74 crore, YoY.
JK Lakshmi Cement: The company reported a higher standalone net profit of Rs 118.7 crore in Q1FY22 against Rs 44.4 crore in corresponding period last year. While revenue surged 49.3 percent to Rs 1,231.5 crore from Rs 825 crore YoY.
Infibeam Avenues: The company, two senior officials and its promoter group firm Infinium Motors (Gujarat) Ltd, have settled an alleged insider trading case with markets regulator Sebi after paying Rs 2.9 crore collectively.
Welspun Enterprises: The company’s Q1FY22 consolidated net profit rose 28.36 percent to Rs 25.66 crore, as against Rs 19.99 crore in the year-ago period. Total income increased to Rs 413.37 crore from Rs 221.83 crore, YoY.
Oberoi Realty: The Mumbai-based developer reported an over two-fold jump in consolidated net profit at Rs 80.81 crore for Q1FY22 as against Rs 29.27 crore in Q1FY21. The company’s consolidated revenue rose to Rs 294.77 crore from Rs 126.86 crore, YoY.
Ajanta Pharma: The multinational pharmaceutical company’s Q1FY22 net profit increased 17.6 percent to Rs 173.7 crore from Rs 147.8 crore in Q1FY21. While revenue grew 11.9 percent to Rs 748 crore from Rs 668.2 crore, YoY.
Earnings Today: Aditya Birla Fashion and Retail, Bandhan Bank, Britannia Industries, Bharat Heavy Electricals, Cholamandalam Investment and Finance Company, Dr Lal PathLabs, Dalmia Bharat Sugar, Exide Industries, Equitas Small Finance Bank, Indian Oil Corporation, , Jindal Saw, JK Paper, JSW Energy, LT Foods, KEC International, Macrotech Developers, Marico Kansai Nerolac Paints, Nazara Technologies, Rossari Biotech, Sun Pharmaceutical Industries, Shriram Transport Finance, Sunteck Realty, UPL, V-Guard Industries and Zydus Wellness among others will release their quarterly earnings on July 30.
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