Nifty futures on the Singapore Exchange traded 217 points lower at 15,720, indicating a gap-down start for the benchmark indices on Monday.
Here are the top stocks to track in today’s session:
Results Today: ACC, HCL Technologies, HDFC Life, Indian Bank and Mastek are among 25 firms slated to post their June quarter numbers today.
HCL Tech’s Q1 performance is likely to be impacted due to supply-side challenges amid the second Covid-19 wave. The net profit could rise in the range of 6-11 per cent year-on-year on a 14 per cent growth in revenue (rupee terms). The company could give a specific guidance range for FY22 at around 12–13 per cent – moving away from a generic ‘double-digit’ projection mentioned earlier, according to Edelweiss Securities. READ HERE
Listing Today: Shares of Clean Science and Technology and GR Infraprojects would list on bourses on Monday. Both issues are commanding a strong premium of over 55 per cent in the grey market, signalling a strong listing. Clean Science IPO was subscribed 93 times while GR Infra 103 times.
HDFC Bank: The lender reported a 14.36 per cent growth in its consolidated net profit at Rs 7,922 crore as against Rs 6,927 crore posted in the corresponding quarter a year ago. Although, the June quarter profit declined when compared with the preceding March quarter’s Rs 8,434 crore. Its managing director and chief executive Sashidhar Jagdishan Bank said the bank has complied with 85 per cent of RBI’s asks on technology, and the ball is now in the regulator’s court on when to lift the ban on issuing new credit cards.
RIL, Just Dail: Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries said it will acquire 40.95 per cent stake in Just Dial for Rs 3,497 crore, bolstering its digital play in the rapidly growing online commerce market in India.
United Spirits: Recovery Officer Debt Recovery Tribunal on Friday offloaded shares worth over Rs 716 crore in United Spirits Ltd, through an open market transaction.
Airtel, Vodafone Idea: Shares of telecom service providers Bharti Airtel and Vodafone Idea would hog the limelight in as the Supreme Court is scheduled to hear the AGR case later in the day.
LIC Housing Fin: The housing finance arm of state-run Life Insurance Corp, LIC Housing Finance, said stock exchanges are examining its proposal of preferential allotment of shares to the parent company. In June this year, LIC Housing Finance had informed that LIC will infuse equity capital of about Rs 2,334.70 crore in the subsidiary by picking up an additional stake.
Central Bank of India: The state-owned lender will seek shareholders’ approval in its ensuing annual general meeting (AGM) next month to set off accumulated loss of over Rs 18,724 crore from the share premium account of the bank.
Bank of Maharashtra: The bank closed its qualified institutional placement (QIP) on Friday in which it raised about Rs 404 crore by allotting over 17 crore shares to eligible investors.
L&T Finance: The company reported 20 per cent rise in net profit at Rs 178 crore for June quarter 2021-22, mainly driven by rural demand for farm equipment as against Rs 148 crore profit in the year-ago period.
Tata Power: The company has joined hands with Hindustan Petroleum Corporation Ltd (HPCL) to provide end-to-end electric vehicle (EV) charging stations at the latter’s retail outlets at multiple cities and major highways across the country.
Kirloskar Group: Five firms of Kirloskar group — Kirloskar Oil Engines, Kirloskar Chillers, Kirloskar Pneumatic, Kirloskar Ferrous Industries and Kirloskar Industries — led by brothers Atul and Rahul on Friday announced a ‘refresh’ exercise of their respective businesses, with an eye on evolving from engineering-led firms into customer-focussed solution providers.
Rossari Biotech: The company will buy Tristar Intermediates for Rs 120 crore value .
Prism Johnson: India Ratings has assigned A+ (stable) to the company’s long-term issuer rating, NCDs, term loans, fund-based limits. It has assigned an A1+ rating to its non-fund-based working capital limits, unsecured short-term loans and commercial paper programme. It has assigned an AA- rating to its term deposit programme.
Jindal Stainless (Hisar): India Ratings has upgraded the credit rating of the company’s long-term bank facilities from ‘A’ to ‘A+’ and short-term facilities from ‘A1’ to ‘A1+’.
Spandana Sphoorty Financial: The company approved the issuance of secured non-convertible debentures up to Rs 290 crore on a private placement basis.