Moneycontrol Selects: Top stories this evening

A round-up of the big stories

Here is a collection of the most important stories this evening:

Reliance Industries Q1FY24 net profit declines 6% dented by oil-to-chemicals performance

The conglomerate’s consolidated total revenue in the June quarter declined to Rs 2,31,132 crore from Rs 2,42,529 crore a year ago, as oil-to-chemicals business revenue declined tracking weakness in crude prices. More here

Reliance Jio Q1 net profit rises 12% YoY to Rs 4,863 crore

Jio Infocomm, the telecom division of Reliance Industries, on July 21 reported standalone net profit for the quarter ended June at Rs 4,863 crore, registering a growth of 12.17 percent year-on-year. More here

Reliance Retail Q1: net profit up 18.8 % at Rs 2,448 crore, revenue up 19% 

Reliance Retail, the retail arm of diversified conglomerate Reliance Industries, reported an 18.8 percent year-on-year (YoY) increase in net profit to Rs 2,448 crore in the quarter ended June. More here

Go First cleared to resume operations, set to make history 

India’s aviation regulator has conditionally allowed Go First to resume operations after carrying out a multi-location audit earlier this month following a plan to start services submitted by the insolvency resolution professional. More here

Vedanta Q1: Net profit plunges 40% to Rs 2,640 crore; revenue down 13%

Billionaire Anil Agarwal-led metals and mining conglomerate Vedanta Ltd reported a 40 percent drop in consolidated net profit for the April-June quarter of FY24 on July 21 at Rs 2,640 crore against Rs 4,421 crore in the same quarter last year. More here

Market snaps six-day record run; Sensex plunges 888 points

The biggest losers for the day on the Nifty were Infosys, Tech Mahindra, HCL Technologies, HUL and Reliance Industries, while gainers were L&T, ONGC, NTPC, SBI and BPCL. More here

ICICI Bank Q1 Preview: Net profit seen up 29.5% YoY at Rs 8,982 crore 

ICICI Bank, India's second-largest private bank, will report its Q1FY24 numbers on July 22 and may see June quarter net profit rise to Rs 8,982 crore YoY (down 5.1 percent quarter-on-quarter), according to a poll of three brokerages conducted by Moneycontrol. More here

Kotak Mahindra Bank Q1 preview: Net profit expected to soar 53% YoY 

Kotak Mahindra Bank is expected to report a stellar 53 percent YoY growth in net profit for the first quarter of this fiscal year amid healthy disbursals, though sequentially there could be a contraction amid pressure on the margins front, analysts said. More here

(Disclaimer:  Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)