Stocks to watch: Interglobe Aviation, Nestle, Maruti Suzuki, Radico Khaitan, UBL, IIFL Finance
Maruti Suzuki, Nestle India, Radico Khaitan, SRF, Tata Coffee, UBL and Teamlease are slated to announce their financial results on Wednesday.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 27 points at the opening bell. Overseas, Asian stocks traded lower on Wednesday, with stocks in Hong Kong struggling to recover from a two-day rout. US stocks fell for the first time in six days on Tuesday ahead of quarterly earnings reports from several megacap technology companies. Here is the list of top stocks that could be in focus today.
IndiGo: InterGlobe Aviation, parent of the country’s largest airline IndiGo, on Tuesday reported a net loss of Rs 3,174 crore for the quarter ended June 30, primarily due to a sharp decline in revenues amid the second wave of the coronavirus pandemic.
Results today: ABB, Coforge, Embassy Office Parks REIT, Greenpanel Industries, Happiest Minds, ICRA, Intellect Design Arena, JM Financial, Maruti Suzuki, Nestle India, Radico Khaitan, SRF, Tata Coffee, UBL and Teamlease are slated to announce their financial results on Wednesday.
IIFL Finance: The company on July 27 reported a 735% growth in consolidated net profit at Rs 265.82 crore for the quarter ended June on healthy growth in its loan portfolios.
Karnataka Bank: Private sector Karnataka Bank reported a nearly 46% fall in net profit at Rs 106.08 crore for the quarter ended June 2021, mainly on account of decreased treasury income.
Cyient: The company announced that it has agreed to acquire WorkForce Delta, a leading consulting firm in mobile workforce management.
Canara Bank: The state-run lender posted a nearly three-fold jump in its net profit to Rs 1,177 crore for the quarter ended in June.
GPIL: Godawari Power and Ispat’s (GPIL) board has approved in principle, the proposal for setting up of Integrated Steel Plant with a capacity of 1.5 to 2 Million Tons of Flat Products in the State of Chhattisgarh under PLI Scheme (Production-Linked incentive Scheme). The estimated capital outlay shall be around Rs 3000 to 4000 crore.
ICICI Lombard, Dr Reddy’s: ICICI Lombard General Insurance Company and Dr Reddy’s Laboratories-owned SVAAS Wellness have joined hands to offer cashless outpatient services to health insurance policyholders. The partnership marks the launch of Dr Reddy’s digital health solution SVAAS and demonstrates ICICI Lombard’s deeper foray into the wellness space.