Benchmark Indian equity indices are likely to open flat on Friday, July 23 following mixed trends in global peers. The Singapore traded SGX Nifty indicates a flat-to-positive start for Dalal Street, as the Nifty futures on the Singapore Exchange were trading 25.50 points or 0.16 percent higher at the 15,839.50 level at 7:15 am, cnbctv18.com reported.
Top stock to look for the day:
Zomato: The food services company is set to list on the bourses today, after its initial public offering (IPO) received a robust 38.25 times subscription.
Telecom Stocks: Supreme Court bench is likely to pronounce judgment today on Bharti Airtel and Vodafone-Idea’s plea seeking plea seeking recomputation of AGR dues.
Reliance Industries: Mukesh Ambani-led conglomerate will report its earnings for the quarter ended June 2021 today. On a consolidated basis, analysts expect revenue growth of 3.3 percent at Rs 1.54 lakh crore. EBITDA is expected to be at Rs 23,300 crore, while margins are expected to be at 15.1 percent and the profits are expected to fall by nearly 18 percent, sequentially.
Wipro: The IT major has launched FieldX, a cloud-based end-to-end digital service lifecycle automation solution built on ServiceNow’s Now Platform.
Hero MotoCorp: The company launched an advanced version of its Maestro Edge 125 scooter model with prices starting from Rs 72,250.
Mphasis: The company’s Q1FY22 net profit rose 7.2 percent to Rs 339.7 crore from Rs 316.9 crore in the year-ago period. While revenue increased 6.6 percent to Rs 2,690.8 crore from Rs 2,524.2 crore, QoQ.
Tata Power: The company has inked a share purchase agreement (SPA) with Tata Power International Pte., a wholly-owned subsidiary of the company, for the sale of 100 percent equity shares held in Trust Energy Resources Pte, another wholly-owned subsidiary of the company for a consideration of USD 285.64 million.
Mahindra Lifespace Developers: The company board will considerthe proposal for issuance of bonus equity shares, subject to necessary approvals.
ICICI Lombard General Insurance: The insurer posted a 61.91 percent YoY drop in net profit at Rs 151.63 crore for Q1FY22. Total income increased to Rs 3,246.90 crore from Rs 2,729.67 crore, YoY.
Persistent Systems: The technology services company’s Q1FY22 net profit rose to Rs 151.2 crore from Rs 137.7 crore. While revenue rose to Rs 1,229.9 crore from Rs 1,113.3 crore, QoQ.
South Indian Bank: The private sector lender’s Q1 net profit was down 87.4 percent at Rs 10.3 crore from Rs 81.7 crore and Net interest income (NII) was down 7.6 percent at Rs 542 crore versus Rs 586.9 crore, YoY.
Tanla Platforms: The company posted a 32.9 percent jump in its Q1FY22 consolidated net profit at Rs 104.5 crore, from Rs 78.6 crore. Revenue grew 37.5 percent at Rs 626.4 crore against Rs 455.5 crore, YoY.
PSP Projects: The company has secured new work orders worth Rs 82.79 crore to date in the financial year 2021-22 for institutional and industrial projects from several clients.
Indiamart Intermesh: The company’s Q1 consolidated net profit rose 18.6 percent at Rs 87.9 crore from Rs 74.1 crore. While revenue increased 18.6 percent at Rs 181.6 crore versus Rs 153.1 crore, YoY.
Can Fin Homes: The company reported a net profit at Rs 108.85 crore in the first quarter ended June 2021, against Rs 93.15 crore in the same quarter a year ago.
India Energy Exchange: The company’s Q1FY22 consolidated net profit grew 49.2 percent to Rs 62.8 crore from Rs 42.1 crore. While revenue rose 34.1 percent to Rs 91 crore from Rs 67.9 crore, YoY.
Balaji Telefilms: The company has appointed Nachiket Pantvaidya as the Group Chief Executive Officer. Earnings: Ambuja Cements, ABB Power Products and Systems India, Crompton Greaves Consumer Electricals, Dynamatic Technologies, Federal Bank, Fineotex Chemical, JSW Steel, United Spirits, Yes Bank, SBI Cards and Payment Services, Majesco, Nectar Lifesciences, Panacea Biotec, Reliance Industries, SKF India and Symphony among others will release their quarterly earnings on July 23.