Stocks to watch: HDFC Bank, HCL Tech, Clean Science, GR Infra, Just Dial
Nifty futures were trading 217 points lower at 15,720 on the Singapore Exchange, indicating a gap-down start for the benchmark index 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 that are due to post June quarter figures today.
HCL Tech’s Q1 performance is likely to be affected due to supply-side challenges amid the second Covid-19 wave. With a 14 per cent growth in revenue (in rupee terms), net profit could grow in the range of 6-11 per cent on a year-on-year basis. According to Edelweiss Securities, the company may give a typical guidance range for FY22 at around 12-13 per cent – a departure from the usual ‘double-digit’ projection reported earlier. read here
Listing Today: Shares of Clean Science & Technology and GR Infraprojects will be listed on the stock market on Monday. Both the issues are trading at a strong premium of over 55 per cent in the gray market, indicating a strong listing. Clean Science’s IPO was subscribed 93 times while GR Infra was subscribed 103 times.
HDFC bank: The lender reported a 14.36 per cent increase in its consolidated net profit at Rs 7,922 crore as against Rs 6,927 crore posted in the same quarter a year ago. However, the June quarter profit declined as compared to Rs 8,434 crore in the previous March quarter. Its managing director and chief executive officer Shashidhar Jagadeesan Bank said the bank has complied with 85 per cent of RBI’s queries on technology, and it is now in the regulator’s court to decide when to lift the ban on issuance of new credit cards.
RIL, Just Daily: 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, boosting its digital game in the fast-growing online commerce market in India.
United Spirits: Recovery Officer Debt Recovery Tribunal on Friday sold shares worth over Rs 716 crore of United Spirits Limited through open market transactions.
airtel, vodafone ideaShares of telecom service providers Bharti Airtel and Vodafone Idea will be in the limelight as the Supreme Court is to hear the AGR matter later in the day.
LIC Housing FinState-run life insurance corporation, the housing finance arm of LIC Housing Finance, said stock exchanges are examining its proposal for preferential allotment of shares to the parent company. In June this year, LIC Housing Finance had informed that LIC would infuse equity capital of around Rs 2,334.70 crore in the subsidiary by raising additional stake.
Central Bank Of IndiaThe state-owned lender will seek shareholders’ approval at its upcoming annual general meeting (AGM) next month to set off accumulated losses of over Rs 18,724 crore from the bank’s share premium account.
Bank of Maharashtra: The bank on Friday closed its Qualified Institutional Placement (QIP), in which it raised around Rs 404 crore by allotting over 17 crore shares to eligible investors.
L&T Finance: The company reported a 20 per cent growth in net profit at Rs 178 crore for the June quarter 2021-22, mainly driven by rural demand for agricultural equipment, as against Rs 148 crore in the year-ago period. was Rs.
Tata PowerThe company has joined hands with Hindustan Petroleum Corporation Limited (HPCL) to provide end-to-end Electric Vehicle (EV) charging stations at the latter’s retail outlets in several cities and major highways across the country.
Kirloskar Group: Five Kirloskar Group firms – Kirloskar Oil Engines, Kirloskar Chillers, Kirloskar Pneumatic, Kirloskar Ferrous Industries and Kirloskar Industries – led by brothers Atul and Rahul on Friday announced a ‘fresh’ exercise of their respective businesses with an eye on growth of. From engineering-led firms to customer-focused solution providers.
Rosari Biotech: The company will buy Tristar Intermediates for Rs 120 crore.
Prism Johnson: India Ratings has assigned A+ (Stable) to the company’s long-term issuer rating, NCDs, term loan, 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 given AA-rating to its fixed deposit program.
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 Sphoorti Financial: The company approved issuance of secured non-convertible debentures up to Rs 290 crore on private placement basis.