The domestic benchmark indices are likely to open with deep cuts on Thursday, July 25, amid negative global cues. The US stocks in the overnight trade tumbled after Tesla and Alphabet earnings disappointed markets. The tech-heavy Nasdaq settled 3.64% lower at 17,342.41 levels. In the early trade, Asian stocks were trading with big losses. Last seen, Japan's Nikkei was trading 3% lower.
At 7:33 AM, Gift Nifty futures, an early indicator of the Nifty50 performance, were trading 91 points lower at 24,160 levels.
Here is a list of stocks that may remain in focus today:
Earnings today: Nestle, Tech Mahindra, AU Small Finance Bank, Cyient, DLF, PNB Housing, Ashok Leyland, Canara Bank, Chalet Hotels, Chennai Petroleum,
Jupiter Wagons, Laurus Labs, Westlife Foodworld, LT Foods,
Mphasis, UTI AMC, and UPL, among others, are slated to announce their June quarter numbers today.
L&T:
Larsen & Toubro (L&T) on Wednesday posted a 12% rise in consolidated profit after tax (PAT) to ₹2,786 crore in the June quarter, on the back of higher revenues. The company has achieved consolidated revenues of ₹ 55,120 crore for the first quarter of the current fiscal, registering a year-on-year growth of 15% with a robust execution witnessed in the projects and manufacturing portfolio on the back of a large order book, Larsen and Toubro said in a statement.
Axis Bank: Private sector
Axis Bank on Wednesday reported a 4% increase in net profit to ₹6,035 crore in the June 2024 quarter, mainly due to higher interest income. The standalone net profit was ₹ 5,797 crore during the April–June 2023–24 quarter. The lender's interest income in the first quarter rose to ₹30,060.73 crore against ₹25,556.77 crore in the year-ago quarter, it said in a regulatory filing.
KPIT Tech: Auto industry-focused KPIT Technologies has reported a 52% jump in its net profit to ₹204.2 crore for the March 2024 quarter on higher revenue growth and profit margins. The Pune-headquartered company had posted a post-tax net of ₹134 crore in the year-ago period.
SBI Life: The life insurance company on Wednesday reported a 36.48% year-on-year growth in net profit to ₹520 crore for the June 2024 quarter. The company's profit after tax stood at ₹381 crore in the April-June quarter of the financial year 2023–24. SBI Life Insurance said it registered a new business premium of ₹7,033 crore during the period under review compared to ₹6,207 crore in the June 2023 quarter.
Trident Ltd on Wednesday reported a 19.1% decline in its consolidated profit after tax to ₹73.89 crore for the first quarter of FY25. The company had posted a consolidated profit after tax of ₹91.34 crore in the April-June quarter a year ago, according to a regulatory filing from Trident. However, its revenue from operations increased 16.66% to ₹1,742.71 crore in the June quarter. It was ₹1,493.71 crore a year ago.
SBI: The State Bank of India (SBI) and the Foreign, Commonwealth & Development Office (FCDO), UK, have signed a non-binding Memorandum of Understanding (MoU). The MoU outlines an investment of £750 million (around ₹7,500 crore).
RVNL:
Rail Vikas Nigam Limited informed exchanges that it has received a letter of acceptance from SER HQELECTRICAL/SOUTH EASTERN RAILWAY for “Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning Post (SPs), and Sub Sectioning Post (SSPs) in 2x25KV System on Rajkhaswan-Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway."
Shipping Corporation of India (SCI): The company's board has agreed in principle that SCI should explore all possible business collaborations with central enterprises, state enterprises, and private entities.
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