Canara Bank, Dalmia Bharat, Dixon Tech, Dr Reddy's, IIFL FInance, IndusInd Bank, Interglobe Aviation, Karnataka Bank, Mahindra Logistics, Sanofi India, Torrent Pharma, TTK Prestige, UCO Bank will report their Q1 earnings today.
NEW DELHI: Canara Bank, Dalmia Bharat, Dixon Tech, Dr Reddy's, IIFL Finance, IndusInd Bank, Interglobe Aviation, Karnataka Bank, Mahindra Logistics, Sanofi India, Torrent Pharma, TTK Prestige, and UCO Bank will report their Q1 earnings today. Here are top 10 stocks that may be in the news today.
Axis Bank: The bank reported a 94% rise in Q1 net profit to ₹2,160 crore on the back of higher other income and lower provisions. While other income grew 39% year-on-year (y-o-y) to ₹3,588 crore, provisions were down 20% y-o-y to ₹3,532 crore. Axis Bank estimates a 17-18% hit on credit card issuances owing to a central bank ban on global card network Mastercard.
Biocon: US-based Adagio Therapeutics has granted an exclusive license to Biocon Biologics to manufacture and commercialise an antibody treatment based on ADG20 for India and select emerging markets. ADG20, a novel monoclonal antibody targeting the spike protein of SARS-CoV-2 and related coronaviruses.
DLF: India’s largest real estate developer reported a net profit of ₹337.17 crore in the June quarter, compared to a net loss of ₹71.52 crore in the corresponding period a year ago when construction activities were limited due to the national lockdown, leading to almost no revenue recognition and poor operating cash flows.
Glenmark Life Science: The company has garnered₹454.32 crore from 19 anchor investors ahead of IPO opening. The company in consultation with merchant bankers finalised allocation of 6.31 million shares to anchor investors, at a price of ₹720 a share.
HUDCO: Government is set to sell 8% stake in Housing and Urban Development Corporation (HUDCO) Ltd through offer for sale (OFS) which could help it garner ₹720 crore for its disinvestment kitty.
Kotak Mahindra Bank: The lender’s standalone net profit for the first quarter of the current fiscal rose 32% to ₹1,642 crore as compared to ₹1,244.4 crore in the corresponding quarter of the previous fiscal. The net interest income grew 5.8% to ₹3,941.8 crore as against ₹3,723.8 crore y-o-y. The private lender's net interest margin (NIM) for Q1FY22 was at 4.60%.
L&T: The infrastructure company on Monday posted a consolidated net profit of ₹1,174 crore, up 287% y-o-y primarily on low-base effect, as against ₹303 crore net profit in the year-ago period.
Mahindra Financial: The company on Monday reported a consolidated net loss of ₹1,573 crore for June quarter mainly on account of higher provision for expected credit loss, compared to a net profit of ₹432 crore in April-June 2020-21.
Tata Motors: The company posted a loss of ₹4,450 crore for the three months to 30 June. The figure far exceeded the ₹2,774.10 crore loss estimated in a Bloomberg survey of analysts. The company also said that it expects the government to consistently follow the policy of promoting local manufacturing of electric vehicles (EVs) amid demand from Tesla to lower import duty to sell its vehicles in India.
Vedanta Ltd: The mining company on Monday reported over four-fold jump in its consolidated profit after tax (PAT) to ₹4,280 crore during the June quarter, boosted by higher income. During the year-ago quarter, the company's "net profit after taxes before exceptional items" was at ₹1,033 crore, Vedanta Ltd said.
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