Stocks In the News: Check out the companies making the biggest headlines before the opening bell.
Results on August 5 | GAIL India, Cipla, Adani Power, Aditya Birla Capital, Indiabulls Housing Finance, Accelya Solutions India, Ador Welding, Andhra Petrochemicals, Arvind, Bajaj Consumer Care, Birla Corporation, Brigade Enterprises, Cera Sanitaryware, Edelweiss Financial Services, Escorts, Gujarat Gas, Hikal, Honeywell Automation India, Ipca Laboratories, Jubilant Industries, NCC, Narayana Hrudayalaya, PTC India Financial Services, Prince Pipes and Fittings, Quess Corp, REC, Thermax, and TTK Healthcare will release quarterly earnings on August 5.
State Bank of India | State Bank of India (SBI) reported a 55.25 percent year-on-year (YoY) jump in the June quarter net profit at Rs 6,504 crore, up from Rs 4,189.34 crore in the same quarter of the previous year. The country’s large public sector bank’s operating profit increased by 5.06 percent to Rs 18,975 crore in the quarter from Rs 18,061 crore in the year-ago period. The operating profit, excluding exceptional items, increased 14.85 percent. Net interest income (NII) grew 3.74 percent YoY. The net interest margin (NIM) for the quarter stood at 3.15 percent.
Coforge | Nomura India Investment Fund Mother Fund acquired 3.5 lakh equity shares in the company at Rs 4,710 per share. However, promoter Hulst BV sold 33.5 lakh equity shares in the company at Rs 4,738.67 per share on the NSE, the bulk deals data showed.
Indiabulls Housing Finance | BNP Paribas Arbitrage sold 31,74,056 equity shares in the company at Rs 280.44 per share on the NSE, the bulk deals data showed.
Lyka Labs | Cobra India (Mauritius) sold 3,11,595 equity shares in the company at Rs 86.47 per share on the NSE, the bulk deals data showed.
Vodafone Idea | Kumar Mangalam Birla will step down as non-executive director and non-executive chairman of the board with effect from August 4. Himanshu Kapania is appointed as non-executive chairman of board, and Sushil Agarwal, a nominee of Aditya Birla Group, is appointed as additional director.
Reliance Industries | The company is doubling its PET recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh. The move is part of RIL’s commitment to lead the industry on circular economy, enhance its sustainability quotient and bolster the entire polyester and polymer value chain. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
HPCL | The company reported lower profit at Rs 1,795 crore in Q1FY22 against Rs 3,018 crore in Q4FY21, revenue fell to Rs 72,443.4 crore from Rs 74,843.4 crore QoQ.
Apollo Tyres | The company reported profit at Rs 127.7 crore in Q1FY22 against loss of Rs 134.5 crore in Q1FY21, revenue jumped to Rs 4,584.4 crore from Rs 2,881.7 crore YoY.
Titan Company | The company reported profit at Rs 61 crore in Q1FY22 against loss of Rs 270 crore in Q1FY21, revenue surged to Rs 3,249 crore from Rs 1,862 crore YoY.
Shipping Corporation of India | The company approved scheme of arrangement for demerger of ‘non-core assets’.
Greenply Industries | The company will invest Rs 548 crore for setting up new unit in Gujarat.
Adani Total Gas | The company reported higher consolidated profit at Rs 142.58 crore in Q1FY22 against Rs 38.91 crore in Q1FY21, revenue jumped to Rs 522.27 crore from Rs 206.57 crore YoY.
JSW Steel | Life Insurance Corporation of India bought 7.17 lakh equity shares (0.03 percent) via open market transaction on August 3, increasing stake to 5 percent from 4.97 percent.
Cosmo Films | The company reported sharply higher consolidated profit at Rs 86.72 crore in Q1FY22 against Rs 46.99 crore in Q1FY21, revenue increased to Rs 687.60 crore from Rs 481.29 crore YoY.
Asahi Songwon Colors | The company reported lower consolidated profit at Rs 4.55 crore in Q1FY22 against Rs 9.53 crore in Q1FY21, revenue increased to Rs 96.96 crore from Rs 57.82 crore YoY.
Tata Communications | The company reported higher consolidated profit at Rs 296.9 crore in Q1FY22 against Rs 258.07 crore in Q1FY21, revenue fell to Rs 4,102.79 crore from Rs 4,402.94 crore YoY.
Time Technoplast | The company has received trial orders for 30,000 cylinders for various destinations in India.
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