Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, fund raising and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Reliance Industries, JSW Steel, Bandhan Bank, Aarti Drugs, Atul, Hindustan Zinc, IndiaMART InterMESH, Indian Overseas Bank, L&T Finance, Mahindra EPC Irrigation, Mastek, Mangalore Refinery and Petrochemicals, and Indosolar will release their quarterly earnings on July 18.
HDFC Bank, ICICI Bank, Union Bank of India, RBL Bank, Yes Bank, AU Small Finance Bank, Can Fin Homes, Central Bank of India, EPACK Durable, India Cements, JK Cement, Punjab & Sind Bank, Rossari Biotech, Reliance Power, and Seshasayee Paper and Boards will announce their quarterly results on July 19.
Wipro Q1 (Consolidated YoY)
Profit grows 9.9% to Rs 3,336.5 crore Vs Rs 3,036.6 crore
Revenue rises 0.8% to Rs 22,134.6 crore Vs Rs 21,963.8 crore
IT Services revenue increases 0.8% to Rs 22,080 crore Vs Rs 21,896.3 crore
IT Services EBIT soars 5.8% to Rs 3,813.4 crore Vs Rs 3,605.7 crore
IT Services EBIT margin expands to 17.27% Vs 16.47%
IT Services revenue in dollar terms advances 1.5% to $2,587.4 million
Wipro expects Q2 revenue from IT Services business to be in $2,560-2,612 million
Axis Bank Q1 (Standalone YoY)
Profit declines 3.8% to Rs 5,806.1 crore Vs Rs 6,034.6 crore
Net interest income rises 0.8% to Rs 13,559.8 crore Vs Rs 13,448.2 crore
Provisions and contingencies zoom 93.6% to Rs 3,947.7 crore Vs Rs 2,039.3 crore
Gross NPA increases to 1.57% Vs 1.28% (QoQ)
Net NPA jumps to 0.45% Vs 0.33% (QoQ)
Jio Financial Services Q1 (Consolidated YoY)
Profit grows 3.8% to Rs 324.7 crore Vs Rs 312.6 crore
Revenue soars 46.6% to Rs 612.5 crore Vs Rs 417.8 crore
LTIMindtree Q1 (Consolidated YoY)
Profit jumps 10.6% to Rs 1,254 crore Vs Rs 1,133.8 crore
Revenue grows 7.6% to Rs 9,840.6 crore Vs Rs 9,142.6 crore
EBIT increases 2.6% to Rs 1,406.5 crore Vs Rs 1,370.9 crore
EBIT margin drops to 14.3% Vs 15%
Other income zooms 72.7% to Rs 392.1 crore Vs Rs 227.1 crore
360 ONE WAM Q1 (Consolidated YoY)
Profit jumps 16.8% to Rs 284.7 crore Vs Rs 243.7 crore
Revenue soars 7.3% to Rs 911.5 crore Vs Rs 849.34 crore
Clean Science and Technology Q1 (Consolidated YoY)
Profit rises 6.3% to Rs 70 crore Vs Rs 65.9 crore
Revenue grows 8.4% to Rs 242.9 crore Vs Rs 224 crore
Tata Communications Q1 (Consolidated YoY)
Profit tanks 42.9% to Rs 190.1 crore Vs Rs 332.9 crore
Revenue rises 6.6% to Rs 5,960 crore Vs Rs 5,592.3 crore
Board approves proposal to raise funds through issuance of NCDs worth upto Rs 1,000 crore
CEAT Q1 (Consolidated YoY)
Profit plunges 27% to Rs 112.5 crore Vs Rs 154.2 crore
Revenue grows 10.5% to Rs 3,529.4 crore Vs Rs 3,192.8 crore
Board re-appoints Arnab Banerjee as Managing Director & Chief Executive Officer
Board approves capital expenditure of Rs 450 crore for Chennai plant
Nuvoco Vistas Corporation Q1 (Consolidated YoY)
Profit spikes to Rs 133.2 crore Vs Rs 2.84 crore
Revenue grows 9% to Rs 2,872.7 crore Vs Rs 2,636.5 crore
Sunteck Realty Q1 (Consolidated YoY)
Profit zooms 46.7% to Rs 33.4 crore Vs Rs 22.8 crore
Revenue falls 40.5% to Rs 188.3 crore Vs Rs 316.3 crore
Shoppers Stop Q1 (Consolidated YoY)
Loss narrows to Rs 15.74 crore Vs loss of Rs 22.72 crore
Revenue grows 8.6% to Rs 1,161.1 crore Vs Rs 1,069.3 crore
Indian Hotels Company Q1 (Consolidated YoY)
Profit jumps 19.3% to Rs 296.4 crore Vs Rs 248.4 crore
Revenue soars 31.7% to Rs 2,041.1 crore Vs Rs 1,550.2 crore
Route Mobile Q1 (Consolidated YoY)
Profit sinks 27.6% to Rs 58.8 crore Vs Rs 81.2 crore
Revenue declines 4.8% to Rs 1,050.8 crore Vs Rs 1,103.4 crore
Gautam Badalia resigns as Chief Executive Officer of the company, effective July 17
Board approves redesignation of Rajdipkumar Gupta as the Managing Director and Chief Executive Officer, effective July 18
Board approves re-designation of Sammy Mamdani as Chief Operating Officer, from Executive Vice President – Group Head – Global Operations
Stocks to Watch
The US Food and Drug Administration (US FDA) inspected Lupin’s Pithampur Unit-3 manufacturing facility during July 7–17. The inspection concluded with the issuance of a Form 483 containing three observations. Additionally, the US FDA inspected the Pithampur Unit-2 manufacturing facility during July 8–17 and closed the inspection with the issuance of a Form 483 containing four observations.
The company’s subsidiary, Bajaj Auto Credit, has received approval from its board of directors for a fresh issuance limit of non-convertible debentures (NCDs) up to Rs 5,000 crore, an enhanced limit for the issuance of commercial papers up to Rs 3,000 crore, and a subordinated debt (Tier-2) issuance limit up to Rs 750 crore.
The company has approved the subscription to equity shares of Mahindra Logistics to the extent of its rights entitlement. It will also subscribe to additional shares as well as any unsubscribed portion of the rights issue at Rs 277 per share. Mahindra Logistics had earlier approved a rights issue of equity shares worth up to Rs 749 crore at an issue price of Rs 277 per share.
The share buyback price has been increased from Rs 70 per share to Rs 75 per share. Further, the maximum number of equity shares proposed to be bought back by the company has been reduced from 11.43 lakh shares to 10.67 lakh shares, equivalent to 0.99% of the total number of equity shares.
IndoStar has completed the transaction to sell its wholly owned subsidiary, Niwas Housing Finance, to Witkopeend B.V., an affiliate of BPEA EQT Mid-Market Growth Partnership (EQT), a global private equity investor, for Rs 1,705.95 crore. IndoStar will use the funds to accelerate growth and value creation in its core verticals of vehicle finance and small business loans.
The company has launched its Qualified Institutions Placement (QIP) issue on July 17, with a floor price of Rs 236.92 per share.
Bulk Deals
Tikri Partners LLP, owned by Prashant Jain and his wife Seema Jain, bought 10 lakh shares (2.21% stake) at Rs 280 per share.
Stocks Trade Ex-Dividend
Kotak Mahindra Bank
HCL Technologies
Bharti Airtel
Cummins India
Dabur India
Jubilant FoodWorks
Aegis Logistics
Afcons Infrastructure
ASK Automotive
AstraZeneca Pharma
Bajaj Electricals
Blue Star
Birlasoft
Citadel Realty and Developers
Dhanuka Agritech
Dollar Industries
Elgi Equipments
Exide Industries
GIC Housing Finance
Goodyear India
GRP
Happiest Minds Technologies
Hitech Corporation
India Motor Parts & Accessories
Indian Hume Pipe Company
Indian Hume Pipe Company
Intellect Design Arena
Intellect Design Arena
Laxmi Organic Industries
Magadh Sugar & Energy
Mahindra Lifespace Developers
CE Info Systems
Mangalam Global Enterprise
MRF
Neuland Laboratories
Newgen Software Technologies
Orient Electric
Pix Transmissions
PlatinumOne Business Services
Prudent Corporate Advisory Services
Punjab Chemicals & Crop Protection
Safari Industries India
Sasken Technologies
Shanthi Gears
Sundaram Brake Linings
Swelect Energy Systems
Symphony
TTK Healthcare
Walchand Peoplefirst
Welspun Corp
Xpro India
Stocks Trade Ex-Bonus
Samvardhana Motherson International
Motherson Sumi Wiring India
Bright Outdoor Media
IFGL Refractories
Stock Trades Ex-Date for Spin Off
Valor Estate
Stock Trades Ex-Date for Split
Indo Thai Securities
Stock Trades Ex-Date for Buyback
Tracxn Technologies
Stock Trades Ex-Date for Rights
Valiant Laboratories
Zodiac Ventures
Stock in F&O ban
Angel One
Hindustan Copper
RBL Bank
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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