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Stocks to Watch Today | Wipro, IndusInd Bank, Tata Communications, and others in news today

Stocks to Watch: Check out the companies making headlines before the opening bell.

July 21, 2022 / 07:41 AM IST
Results on July 21: RBL Bank, CSB Bank, IDBI Bank to be in focus ahead of quarterly earnings on July 21. CSB Bank, RBL Bank, IDBI Bank, Can Fin Homes, CRISIL, Cyient, Elecon Engineering, Embassy Office Parks REIT, Gujarat State Fertilizers & Chemicals, Happiest Minds Technologies, Hindustan Zinc, Himadri Speciality Chemical, IndiaMART InterMESH, ICICI Securities, JSW Energy, Kajaria Ceramics, Meghmani Finechem, Mphasis, Orient Bell, Persistent Systems, Hitachi Energy India, PVR, Quick Heal Technologies, Ramkrishna Forgings, and SRF will be in focus ahead of quarterly earnings on July 21.
Results on July 21: RBL Bank, CSB Bank, IDBI Bank to be in focus ahead of quarterly earnings on July 21. CSB Bank, RBL Bank, IDBI Bank, Can Fin Homes, CRISIL, Cyient, Elecon Engineering, Embassy Office Parks REIT, Gujarat State Fertilizers & Chemicals, Happiest Minds Technologies, Hindustan Zinc, Himadri Speciality Chemical, IndiaMART InterMESH, ICICI Securities, JSW Energy, Kajaria Ceramics, Meghmani Finechem, Mphasis, Orient Bell, Persistent Systems, Hitachi Energy India, PVR, Quick Heal Technologies, Ramkrishna Forgings, and SRF will be in focus ahead of quarterly earnings on July 21.
Wipro: Wipro Q1 profit falls 21% YoY to Rs 2,563.6 crore on lower operating margin. The software services exporter has reported a 21% YoY decline in consolidated profit at Rs 2,563.6 crore for the quarter ended June 2022, hit by lower operating margin. Gross revenues jumped 18% YoY to Rs 21,528.60 crore and the sequential growth was 3.2% in Q1FY23. IT services segment revenue increased 13.3% YoY to $2,735.5 million (up 0.5% QoQ) and growth in constant currency was 17.2% YoY (up 2.1% QoQ). IT services operating margin for the quarter was at 15%, a decrease of 200 bps QoQ and 380 bps YoY. The company expects revenue from IT services business to be in the range of $2,817-$2,872 million, a sequential growth of 3-5%.
Wipro: The software services exporter has reported a 21 percent YoY decline in consolidated profit at Rs 2,563.6 crore for the quarter ended June 2022, hit by lower operating margin. Gross revenues jumped 18 percent YoY to Rs 21,528.60 crore and the sequential growth was 3.2 percent in Q1FY23. IT services segment revenue increased 13.3 percent YoY to $2,735.5 million (up 0.5 percent QoQ) and growth in constant currency was 17.2 percent YoY (up 2.1 percent QoQ). IT services operating margin for the quarter was at 15 percent, a decrease of 200 bps QoQ and 380 bps YoY. The company expects revenue from IT services business to be in the range of $2,817-$2,872 million, a sequential growth of 3-5 percent.
IndusInd Bank: IndusInd Bank Q1 profit jumps 61% YoY to Rs 1,631 crore on significant drop in provisions. The private sector lender recorded a 61% year-on-year growth in profit at Rs 1,631 crore for the quarter ended June 2022 on significant drop in provisions. Net interest income grew by 16% YoY to Rs 4,125 crore during the quarter, and pre-provision operating profit increased by 10% YoY to Rs 3,431 crore. Net NPA dropped 3 bps QoQ to 0.67% in Q1.
IndusInd Bank: The private sector lender recorded a 61 percent year-on-year growth in profit at Rs 1,631 crore for the quarter ended June 2022 on significant drop in provisions. Net interest income grew by 16 percent YoY to Rs 4,125 crore during the quarter, and pre-provision operating profit increased by 10 percent YoY to Rs 3,431 crore. Net NPA dropped 3 bps QoQ to 0.67% in Q1.
AU Small Finance Bank
AU Small Finance Bank: The bank reported a 32 percent year-on-year growth in profit at Rs 268 crore for the quarter ended June 2022, with trading losses of Rs 55 crore (MTM and realized) weighing on profitability. Disbursements (fund-based) for Q1FY23 grew by 345 percent YoY to Rs 8,445 crore due to low base, with assets under management growing 37 percent YoY to Rs 50,161 crore during the quarter.
Gland Pharma: Gland Pharma Q1 profit falls 35% YoY to Rs 229.2 crore on lower topline growth, weak operating performance. The pharma company recorded a 35% year-on-year decline in profit at Rs 229.2 crore for the quarter ended June 2022 on lower topline growth and weak operating performance. Revenue declined by 26% YoY to Rs 856.9 crore during the quarter, and EBITDA fell by 31% to Rs 344.3 crore for the quarter, impacted by continuing supply disruptions in the midst of challenging macro environment.
Gland Pharma: The pharma company recorded a 35 percent year-on-year decline in profit at Rs 229.2 crore for the quarter ended June 2022 on lower topline growth and weak operating performance. Revenue declined by 26 percent YoY to Rs 856.9 crore during the quarter, and EBITDA fell by 31 percent to Rs 344.3 crore for the quarter, impacted by continuing supply disruptions in the midst of challenging macro environment.
-Tata Communications: Tata Communications Q1 profit jumps 83.5% YoY to Rs 544.82 crore on other income. The company clocked a 83.5% YoY growth in consolidated profit at Rs 544.82 crore for the quarter ended June 2022, driven by other income. Revenue increased 5% YoY to Rs 4,310.52 crore during the same quarter.
Tata Communications: The company clocked a 83.5 percent YoY growth in consolidated profit at Rs 544.82 crore for the quarter ended June 2022, driven by other income. Revenue increased 5 percent YoY to Rs 4,310.52 crore during the same quarter.
Ador Welding: Ador Welding bags order worth Rs 145 crore from ONGC. The company has received a Letter of Award (LOA), from ONGC, Uran. The order includes design, engineering, supply, erection in brief & commissioning of demountable flare stack project on LSTK basis at their ONGC's Uran plant. The order is worth Rs 145 crore and is going to be executed within 30 months.
Ador Welding: The company has received a Letter of Award (LOA), from ONGC, Uran. The order includes design, engineering, supply, erection in brief and commissioning of demountable flare stack project on LSTK basis at their ONGC's Uran plant. The order is worth Rs 145 crore and is going to be executed within 30 months.
Som Distilleries & Breweries: Som Distilleries reports Q1 consolidated profit at Rs 25.66 crore on strong revenue growth. The company reported consolidated profit at Rs 25.66 crore for the quarter ended June 2022, against loss of Rs 12.6 crore in same period last year, following strong revenue growth. Revenue from operations grew by 342% to Rs 437.7 crore during the same period.
Som Distilleries & Breweries: The company reported consolidated profit at Rs 25.66 crore for the quarter ended June 2022, against loss of Rs 12.6 crore in same period last year, following strong revenue growth. Revenue from operations grew by 342% to Rs 437.7 crore during the same period.
State Bank of India: State Bank of India gets board nod for fund raising. The country's largest lender said its Central Board has approved raising of capital by way of issuance of Basel III compliant debt instrument in USD/INR and/or any other convertible currency, during FY23. The bank will raising fresh additional Tier 1 (AT1) capital of Rs 7,000 crore, and fresh Tier 2 capital of Rs 4,000 crore.
State Bank of India: The country's largest lender said its Central Board has approved raising of capital by way of issuance of Basel III compliant debt instrument in USD/INR and/or any other convertible currency, during FY23. The bank will raising fresh additional Tier 1 (AT1) capital of Rs 7,000 crore, and fresh Tier 2 capital of Rs 4,000 crore.
JSW Ispat Special Products: JSW Ispat Special Products posts consolidated loss at Rs 92.4 crore in Q1. The company posted consolidated loss of Rs 92.37 crore for the quarter ended June 2022, against profit of Rs 63.32 crore in same period last year impacted by higher power & fuel cost. Revenue from operations grew by nearly 14 percent year-on-year to Rs 1,664.5 crore in Q1FY23.
JSW Ispat Special Products: The company posted consolidated loss of Rs 92.37 crore for the quarter ended June 2022, against profit of Rs 63.32 crore in same period last year impacted by higher power and fuel cost. Revenue from operations grew by nearly 14 percent year-on-year to Rs 1,664.5 crore in Q1FY23.
Ceat: Ceat reports 62% YoY decline in profit at Rs 8.68 crore on higher input cost. The tyre manufacturer reported a 62.3% year-on-year decline in consolidated profit at Rs 8.68 crore for the quarter ended June 2022, dented by higher input cost. Revenue jumped 48% YoY to Rs 2,818.4 crore during the same period.
Ceat: The tyre manufacturer reported a 62.3% year-on-year decline in consolidated profit at Rs 8.68 crore for the quarter ended June 2022, dented by higher input cost. Revenue jumped 48% YoY to Rs 2,818.4 crore during the same period.
Agro Tech Foods: Agro Tech Foods Q1 profit drops 97% to Rs 0.22 crore on lower revenue. The company recorded a massive 97% year-on-year decline in consolidated profit at Rs 0.22 crore for the quarter ended June 2022, impacted by lower topline. Revenue fell nearly 10% to Rs 186.3 crore during the same period YoY.
Agro Tech Foods: The company recorded a massive 97% year-on-year decline in consolidated profit at Rs 0.22 crore for the quarter ended June 2022, impacted by lower topline. Revenue fell nearly 10 percent to Rs 186.3 crore during the same period YoY.
Havells India: Havells India Q1 profit increases 4% to Rs 243 crore on margin contraction. The electrical equipment maker reported a 4% year-on-year growth in profit at Rs 243 crore for Q1FY23 on muted EBITDA growth of 2% and margin contraction. Revenue grew by 63% YoY to Rs 4,230 crore in quarter ended June 2022.
Havells India: The electrical equipment maker reported a 4 percent year-on-year growth in profit at Rs 243 crore for Q1FY23 on muted EBITDA growth of 2 percent and margin contraction. Revenue grew by 63 percent YoY to Rs 4,230 crore in quarter ended June 2022.
Sonata Software: Sonata Software to consider bonus issue on July 25. The IT company said the board on July 25 may consider proposal for issue of bonus shares. The board will also consider standalone as well as consolidated unaudited financial results of the company for Q1FY23 on the same date.
Sonata Software: The IT company said the board on July 25 may consider proposal for issue of bonus shares. The board will also consider standalone as well as consolidated unaudited financial results of the company for Q1FY23 on the same date.
Sasken Technologies: Sasken Technologies appoints its Chief Executive Officer. The company has appointed Abhijit Kabra as its Chief Executive Officer. The company recorded a 55% year-on-year decline in consolidated profit at Rs 15.23 crore for the quarter ended June 2022, dented by lower revenue and negative other income. Revenue fell 7.7% to Rs 101.32 crore YoY in Q1FY23.
Sasken Technologies: The company has appointed Abhijit Kabra as its Chief Executive Officer. The company recorded a 55 percent year-on-year decline in consolidated profit at Rs 15.23 crore for the quarter ended June 2022, dented by lower revenue and negative other income. Revenue fell 7.7 percent to Rs 101.32 crore YoY in Q1FY23.
McNally Bharat Engineering: McNally Bharat Engineering to receive Rs 242 crore arbitration award. Singareni Collieries Company is directed by Arbitral Tribunal to pay Rs 242.07 crore within one month from the date of the Award. The Arbitral Tribunal has delivered matter of arbitration between McNally Bharat Engineering Company, and Singareni Collieries Company, and as per the Award, the Claimant (Singareni Collieries) is awarded a total sum of Rs 242.07 crore.
McNally Bharat Engineering: Singareni Collieries Company has been directed by Arbitral Tribunal to pay Rs 242.07 crore within one month from the date of the Award. The Arbitral Tribunal has delivered matter of arbitration between McNally Bharat Engineering Company, and Singareni Collieries Company, and as per the Award, the Claimant (Singareni Collieries) is awarded a total sum of Rs 242.07 crore.
DIC India: DIC India completes land sale in Mumbai to Godrej Properties. The company has received the balance of the final tranche of Rs 16.50 crore from Godrej Properties, following land sale. With this receipt, the transactions related to the sale of Mumbai land stands completed.
DIC India: The company has received the balance of the final tranche of Rs 16.50 crore from Godrej Properties, following land sale. With this receipt, the transactions related to the sale of Mumbai land stands completed.
Moneycontrol News
first published: Jul 21, 2022 07:41 am
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