Stocks to watch: Maruti Suzuki, Nestle, IndiGo, IIFL Finance, IndusInd Bank

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Nifty futures on the Singapore Exchange traded 38 points up at 15,780, indicating a firm start for benchmark indices on Wednesday.


Here are the top stocks to track in today’s session on Dalal Street:





Results Today: Over 60 companies, including India, Nestle India, Birlasoft, Central Bank of India, Geojit Financial Services, Route Mobile, Tata Coffee, TCI Express, United Breweries and UTI Asset Management Company will release their quarterly numbers later today.


A low base last year and continued demand for in-home consumption products like Maggi, Kitkat, Nescafe is likely to drive Nestle India’s growth in the June quarter (Q2FY21), believe analysts. In year-on-year (YoY) terms, the company is expected to post a 14-19 per cent jump in profit after tax (PAT) and 13-21 per cent increase in revenues. READ MORE


As for Maruti, analysts believe the company may be able to guard the dent on revenue during the June quarter, owing to sequential rise in average selling prices, price hike taken during the quarter, and better product mix. On the revenue front, analysts estimate the income to rise in the range of 340 to 353 per cent year-on-year (YoY) but decline 22 to 25 per cent QoQ. The standalone net profit could be anywhere between Rs 787 crore and Rs 987.7 crore as against a loss last year. READ MORE


IndiGo: The airline posted its highest ever quarterly loss of Rs 3,174.17 crore during the April-June period as the second wave of the pandemic during April and May forced down the number of air passengers. Adding to this, the airline’s condition was worsened by crude oil prices have inched up, which means operating costs increase for airlines. READ HERE


IndusInd Bank: The lender reported doubling of its net profit to Rs 1,016 crore in the June 2021 quarter, on a dip 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.


Karnataka Bank: Private sector Karnataka Bank reported a nearly 46 per cent YoY fall in net profit at Rs 106.08 crore for the quarter ended June 2021, mainly on account of decreased treasury income. The lender’s net profit stood at Rs 196.38 crore in the year-ago period.


Finance: The company on Tuesday reported a 735 per cent YoY jump in consolidated net profit at Rs 265.82 crore for the quarter ended June on healthy growth in its loan portfolios. Total income during Q1 FY22 moved up to Rs 1,531.67 crore, as against Rs 1,295.19 crore in the first quarter of FY21.


Mahindra Logistics: It reported a consolidated net profit of Rs 9.35 crore for the quarter ended June 30, 2021 as against a net loss of Rs 15.81 crore in the year-ago period.


Granules India: Drug firm Granules India reported an 8 per cent YoY rise in its consolidated net profit to Rs 120 crore for the quarter ended June 30, 2021. The company had posted a net profit of Rs 111 crore for the corresponding period of the previous fiscal. Consolidated revenue from operations of the company stood at Rs 850 crore for the quarter under consideration. It was Rs 736 crore for the same period a year ago.


HUDCO: Institutional investors on Tuesday placed bids worth over Rs 870 crore in the government’s 8 per cent share sale in HUDCO. Institutional investors put in bids for over 19.40 crore shares against the base issue size of more than 9.90 crore shares. The issue will open for retail investors today.


Ramco Cements: The Ramco Cements reported a 46.10 per cent YoY increase in consolidated net profit at Rs 171.67 crore for the quarter ended June, helped by growth in sales. Total income was up 17.33 per cent to 1,239.99 crore during the quarter under review as against Rs 1,056.79 crore in the corresponding period of the previous fiscal.


Dalmia Bharat: Cement maker Dalmia Bharat on Tuesday reported 45.02 per cent YoY increase in consolidated net profit at Rs 277 crore for the first quarter ended June 30, 2021, helped by sales volume growth and a lower base.


Torrent Pharma: Drug firm Torrent Pharmaceuticals reported a 2.8 per cent YoY rise in its consolidated net profit to Rs 330 crore for the quarter ended in June. Consolidated revenue from operations of the company stood at Rs 2,134 crore for the quarter under consideration. It was Rs 2,056 crore for the same period a year ago.


L&T: Board approved the amalgamation of the company’s wholly-owned arm L&T Hydrocarbon Engineering Ltd with the parent firm.


RITES: The company secured a road sector consultancy work order of Rs 19.10 crore from National Highways and Infrastructure Development Corporation.


Cyient: Cyient Australia Pty, a wholly-owned subsidiary of the company, to acquire 100 per cent stake in Workforce Delta, a global consultancy company, for $2.7 million. The acquisition is expected to be completed within one week.


Bajaj Healthcare: Board to consider stock split in August 13 meeting.





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