Smart futures on the Singapore Stock Exchange traded 51.5 points, or 0.30 percent higher, at 17,448.5, indicating that Dalal Street was headed for a positive start on Friday. Here are a dozen stocks that may emerge higher in today’s trade:
Titan, M&M, Nykaa: Titan Company, Mahindra & Mahindra, FSN E-commerce Ventures,
Petronet LNG, NMDC, , , , Pfizer, IRB Infra and UCO Bank are among the companies to announce their earnings for the quarter ended June 2022.
Adani Companies: Group flagship company Adani reported a 76.48% rise in consolidated profit at Rs 468.74 crore in the first quarter ended June on the back of increased income from operations. The company had posted a consolidated net profit of Rs 265.60 crore during the year-ago period.
Axle bank: The private lender is to liquidate its UK subsidiary following the termination of an agreement to sell a 100% stake to OpenPayd Holdings. In March 2021, Axis Bank had informed the exchanges about signing a share purchase agreement with OpenPayd Holdings to sell 100 percent stake in Axis Bank UK.
Britannia Industries: The bakery food company said its consolidated net profit fell 13.24 percent to Rs 335.74 crore in the April-June quarter of FY23 due to impact of inflationary headwinds. The company had posted a net profit of Rs 387.01 crore in the April-June quarter a year ago.
Yes Bank
: Moody’s said it has upgraded the private lender’s rating while changing the outlook to “stable” based on its share capital increase plan announced last week. The global rating agency has upgraded the private sector lender’s long-term foreign currency issuer rating and long-term foreign and local currency reverse deposit ratings to ‘Ba3’ from ‘B2’.
Lupine: The drug maker reported a consolidated net loss of Rs 89 crore in the first quarter ended June due to a fall in sales in the US. The Mumbai-based drugmaker had posted a net profit of Rs 542 crore in the April-June quarter of the last fiscal.
Dabur India: The homegrown FMCG major posted a marginal increase in its consolidated net profit at Rs 441.06 crore in the June quarter as inflationary headwinds continued during the period. The company had posted a net profit of Rs 438.30 crore in the April-June quarter a year ago.
Bayer CropScience: The global pharmaceutical and chemical company reported a 19.27% growth in profit at Rs 302.6 crore in the quarter ended June. The company’s profit stood at Rs 253.7 crore in the corresponding quarter of the previous financial year.
Berger Paints India: The paint player reported an 80.60 percent rise in consolidated net profit to Rs 253.71 crore for the first quarter ended June 30, 2022. The company had posted a net profit of 140, 48 crore during the April-June period a year ago.
Macrotech Developers: Ivanhoe Op India, the real estate arm of the Canadian pension fund, offloaded 70.29 billion shares or 1.5% stake in the real estate major at an average price of Rs 1,047.21 and Rs 1,048 for 736, 28 crores through open market transactions.
Dalmia Bharat: The cement maker reported a 26.78 percent decline in its consolidated net profit to Rs 205 crore in the first quarter ended June 30. The company had posted a net profit of Rs 280 crore in the April-June quarter a year ago.
Welspun Corp: The metals company said its standalone net profit rose 37 percent to Rs 80.50 crore in the three months to June 2022 on higher revenue. The company’s standalone net profit stood at Rs 58.73 crore in the year-ago period.
Housing financing LIC: The mortgage financier reported a multifold increase in its profit after tax at Rs 925.48 crore for the quarter ended June 30 on lower provisioning and higher loan growth. The company had reported a profit after tax of Rs 153.44 crore in the same quarter of the previous financial year.
Blue Star: The commercial air conditioning and refrigeration maker saw its consolidated net profit rise to Rs 74.35 crore in the June quarter on higher demand. The company had posted a consolidated net profit of Rs 12.71 crore in the April-June quarter a year ago.
Implementation: The national rating agency reported an 11 percent fall in its consolidated June quarter net at Rs 21.6 crore. Icra, which is majority owned by global rating agency Moody’s Group, had reported a net after tax of Rs 24.3 crore in the year-ago period and Rs 33.7 crore in the quarter previous march
Kalpataru Power Transmission: The construction engineering company said its consolidated net profit rose about 13 percent to Rs 88 crore in the quarter ended June 30, mainly driven by higher revenue. The company’s consolidated net profit in the year-ago period stood at Rs 78 crore.
Manappuram Finance: The gold lender reported a more than 35% drop in its net profit to Rs 282 crore in the quarter ended June 2022 as income from operations fell. The non-banking financial company had earned a net profit of Rs 437 crore in the corresponding quarter of the previous financial year.
Hindustan Construction Company: The engineering and construction company posted a consolidated net loss of Rs 280.67 crore for the quarter ended June 2022. The company had posted a net profit of Rs 179.98 crore in the corresponding quarter of 2021-22.
JB Chemistry and Pharmaceuticals: The drugmaker reported a 12 percent decline in its consolidated net profit to Rs 105 crore in the first quarter ended June 30. It had reported a net profit of Rs 119 crore in the April-June quarter of the previous fiscal.
Spandana Sphoorty Financial: The rural-focused microlender reported a net loss of Rs 220 crore for the quarter ended June 2022, mainly due to a one-time write-off. It had made a net profit of Rs 55 crore in the corresponding period of the previous financial year.
Preschool: The auto technology company reported a more than six-fold jump in standalone profit after tax at Rs 15.92 crore in the April-June quarter of FY23. The company had posted a standalone PAT (Profit After Tax) of Rs 2.41 crore in the corresponding quarter of FY22.
SJVN: The state-owned utility has purchased 2,043 acres of land to set up a 1,000 MW solar power project in Bikaner, Rajasthan. The project is expected to become operational in January 2024.
New Delhi Television: Media firm NDTV reported a 55.85% rise in its consolidated net profit to Rs 25.81 crore for the first quarter ended June 30. The company had posted a net profit of Rs 16.56 crore in the April-June quarter a year ago.
Future actions of the group: Stock market regulator Sebi has ordered a forensic audit of the accounts of Future Retail (FRL) in debt for the financial years 2019-20, 2020-21 and 2021-22. Sebi has also called for an audit of FRL’s related party transactions (RPTs) with three other Future group companies.
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