Stocks to Watch: Wipro, SBI, IndusInd, CEAT
3 min read . Updated: 21 Jul 2022, 07:34 AM IST
Premium- RBL Bank, Hindustan Zinc, Mphasis, IDBI, JSW Energy, and PVR will be in focus as they declare their June quarter earnings today.
Here is the list of top 10 stocks that will be in focus today
Wipro: Wipro Ltd on Wednesday reported a 21% decline in its June quarter net profit as higher employee-related costs pushed up the firm's overall expenses. Consolidated net profit at ₹2,563.6 crore in April-June was 20.6%, lower than ₹3,242.6 crore net profit in the same period a year back. Its expenses, which includes employee cost, jumped almost 23% to ₹18,647.5 crore, with attrition at 23.3%.
State Bank of India: India’s largest lender State Bank of India (SBI) on Wednesday said its board has approved raising up to ₹11,000 crore in bonds during the current financial year. The bank's central board, at its meeting held on Wednesday, approved raising capital by way of issuance of Basel III compliant debt instrument in USD/INR and/or any other convertible currency, in FY23, according to a regulatory filing.
Indusind Bank: Private sector lender IndusInd Bank on Wednesday reported a 60% rise in its first quarter consolidated net profit to ₹1,631 crore on lower provisioning for bad assets. The Hindujas-promoted lender had reported a net profit of ₹1,016 crore for the April-June period in the preceding fiscal. Its core net interest income rose 16% to ₹4,125 crore on the back of an 18% credit growth and an expansion in net interest margin to 4.21% from 4.06%.
Emami: Emami Agrotech Ltd., the branded food manufacturing arm of the Emami Group on Wednesday said its packaged spices business could draw revenues of ₹700-1,000 crore over the next five years. Emami Agrotech, the branded food manufacturing arm of diversified Emami Group, launched Mantra Spices under the Emami Healthy & Tasty brand offering a range of blended powder spices and tastemakers.
NHPC: NHPC has signed a memorandum of understanding (MoU) with Damodar Valley Corporation (DVC) to explore the formation of a Joint Venture Company (JVC) for exploring and setting up hydropower and pump storage projects, the Ministry of Power said on Wednesday. The agreement was signed in the presence of A K Singh, CMD, NHPC Limited, and Ram Naresh Singh, Chairman, DVC.
Century Plyboards: Century Plyboards (India) Ltd on Wednesday posted a whopping 184% increase in net profit to ₹96.47 crore for the first quarter of the current fiscal, amid inflationary pressure. The profit after tax was ₹33.89 crore in the corresponding period last year. Net revenue from operations for the April-June quarter of the 2022-23 financial year was ₹881.48 crore, up by 96.4% from ₹448.88 crore in the year-ago period.
Syngene International: Contract manufacturing services firm Syngene International on Wednesday reported a 4% decline in profit after tax to ₹74 crore for the first quarter ended June 2022. The company had posted a PAT of ₹77 crore in the April-June quarter of last fiscal. Its revenue from operations rose to ₹644 crore in the first quarter against ₹595 crore in the year-ago period, the company said in a statement.
AU Bank: Small finance lender AU Bank on Wednesday reported a 32% year-on-year growth in net income to ₹268 crore in the June quarter on better asset quality and higher loan sales that grew more than fourfold. The biggest boost to the bottom line has come from a massive improvement in the asset quality with gross steeply falling to 1.96% year-on-year from 4.31% and the net NPA plunging to 0.56% of net advances.
CEAT: Tyre maker CEAT on Wednesday reported a 61% decline in its consolidated net profit at ₹9 crore for the June quarter as high raw material prices impacted business. The Mumbai-headquartered company had posted a net profit of ₹23 crore in the corresponding period of last year. Revenue from operations, however, rose to ₹2,818 crore in the first quarter as against ₹1,906 crore in the year-ago period, the company said in a regulatory filing.
Stride Pharma Sciences: Strides Pharma Science on Wednesday said its board will meet next week to consider raising funds through the issuance of securities. The meeting of the committee of directors is scheduled to be held on July 25, to consider and approve the raising of funds by way of issuance of non-convertible debentures on a private placement basis, according to a regulatory filing.
