Stocks in the news: Check out the companies making the biggest headlines before the opening bell.
Results on July 9 | Delta Corp, Excel Realty N Infra, Integrated Capital Services, K&R Rail Engineering, Madhucon Projects, Mapro Industries, Metalyst Forgings, Pil Italica Lifestyle, Suryavanshi Spinning Mills, Valencia Nutrition, and Vikas Lifecare will release quarterly earnings on July 9.
Results on July 10 | Avenue Supermarts, PTC Industries, Castex Technologies, Gujarat Hotels, Indo-City Infotech, and Oriental Trimex will release quarterly earnings on July 10.
Tata Consultancy Services | The company reported lower consolidated profit at Rs 9,008 crore in Q1FY22 against Rs 9,246 crore in Q4FY21, revenue increased to Rs 45,411 crore from Rs 43,705 crore YoY.
Tata Steel | CARE upgraded long term credit rating on the company to AA+ from AA and the outlook to Stable from Negative.
Elgi Equipments | The company’s wholly-owned subsidiary in USA, ‘Elgi Compressors USA Inc.’ has formed a joint venture company in the USA by the name ‘Gentex Air Solutions, LLC.’ as a North Carolina limited liability company, along with James Gery and Diego Hernandez. Elgi Compressors USA Inc. has invested $ 95,000 in the share capital of Gentex Air Solutions, LLC.
Phillips Carbon Black | CRISIL has assigned A1+ rating to the captioned debt programme.
Bharat Dynamics | The company has signed a contract worth about Rs 499 crore with Ministry of Defence for manufacturing and supply of Akash Missiles to the Indian Air Force.
Texmaco Rail & Engineering | CARE reaffirmed long term credit rating on the company at A-, but downgraded outlook to Negative from Stable.
Jammu & Kashmir Bank | The Reserve Bank of has imposed a penalty of Rs 1 crore on the bank, on account of contravention of directions contained in circulars on ‘Lending to Non Banking Financial Companies (NBFCs) and Bank Finance to Non Banking Financial Companies (NBFCs)’.
Sangam Renewables | The company divested its entire stake in its subsidiary Waacox Energy to Aditya Birla Renewable at an enterprise value of Rs 81,57,55,500 on the transaction. The company will use these proceeds to reduce its short-term debt by Rs 40,32,92,379 on a standalone basis.
Moneycontrol News
