Stocks in news today: Tata Motors, Power Grid, Axis Bank, Tech Mahindra, HDFC Bank to be in focus. Indian equity markets slipped into the negative territory on Tuesday tracking weak Asian markets.
Indian equity markets slipped into the negative territory on Tuesday tracking weak Asian markets and the SGX Nifty of the Singapore Stock Exchange, which was trading 0.09% lower. Asian share markets weakened on Tuesday, taking cues from the rout in global technology shares, said a Reuters report. The Sensex and the Nifty had closed at record highs on Monday.
Stocks in news today: These stocks will be in focus on July 31, 2018
Tata Motors, Power Grid: Tata Motors, Power Grid Corporation of India, Blue Dart, Dabur India, GSFC, Raymond, Vedanta, Bank of India and EIH are among the companies that are expected to declare their first quarter results today.
Axis Bank: Private lender Axis Bank reported a 46% drop in net profit to Rs 701.09 crore for the April-June quarter due to increase in provisioning for bad loans. Total income of the bank rose to Rs 15,702.01 crore during April-June quarter of the current fiscal, compared to Rs 14,052.30 crore in the year-ago period.
Tech Mahindra: IT services firm Tech Mahindra today reported a 12.4 per cent rise in consolidated net profit
at Rs 897.9 crore for the June quarter, and said it is betting big on preparedness for 5G services roll out, PTI reported on Monday. Its consolidated revenue stood at Rs 8,276.3 crore in the reporting quarter, up 12.8 per cent from Rs 7,336.1 crore in the year-ago period.
HDFC Bank: Private lender HDFC Bank said it has fixed Rs 2179.13 as the floor price for share sale to raise Rs 15,500 crore to fund business expansion. The fund will be raised through qualified institutional placement (QIP) and American Depository Receipts (ADRs). The board fixed the floor price for the QIP at Rs 2,179.13 per share, HDFC Bank said in a regulatory filing to the stock exchanges.
InterGlobe Aviation: InterGlobe Aviation, which runs largest domestic carrier IndiGo, reported a steep 96.6% fall in net profit to Rs 27.8 crore in June quarter, owing to adverse impact of foreign exchange, high fuel prices, lower yields and higher maintenance cost, said a PTI report.
Idea Cellular: Aditya Birla Group firm Idea Cellular reported total comprehensive income of Rs 263.6 crore in the June quarter. The company registered a consolidated loss of Rs 2,757.6 crore before tax and exceptional items during the quarter.
HDFC: The housing finance company reported a 54% increase in standalone net profit at Rs 2,190 crore in the June quarter.
Jaiprakash Associates: Debt-ridden Jaiprakash Associates Ltd (JAL) today reported a standalone net loss of Rs 285.02 crore for the first quarter of this financial year.
IDFC Bank: Private lender IDFC Bank reported over 58% plunge in net profit to Rs 181.55 crore for the first quarter of 2018-19 fiscal compared to Rs 437.59 crore in the same quarter of last year.