The bulls are expected to dominate Dalal Street on Monday, July 29, as well, after settling over 1.6% higher on Friday. At 07:59 AM, the GIFT Nifty futures were trading 107.5 points, or 0.43% higher at 24,074.50 levels at 7:59 AM.
Here's a list of stocks that may trade actively in today's session:
ICICI Bank: The private sector lender reported on Saturday a 9.96% increase in June quarter consolidated net profit at ₹11,695.84 crore. The company had logged a profit of ₹10,636.12 crore in the same period of 2023–24. On a standalone basis, the country's second-largest private sector lender reported a 14.62% rise in profit at ₹ 11,059 crore as against ₹9,648.2 crore year-ago period.
Overall provisions came in at ₹1,332.18 crore as against ₹1,292.44 crore for the year-ago period and ₹718.49 crore in the March quarter. The gross non-performing assets ratio was stable at 2.36% as of June 30, 2024.
Punjab National Bank: Punjab National Bank (PNB) on Saturday reported a more than two-fold jump in standalone net profit at ₹3,252 crore for the June quarter FY25, helped by a decline in bad loans and an improvement in interest income.
The state-owned bank had posted a net profit of ₹1,255 crore for the year-ago period. Total income in the quarter rose to ₹32,166 crore from ₹28,579 crore, PNB said in a regulatory filing. The lender's interest income also increased to ₹28,556 crore from ₹25,145 crore in the same quarter a year ago.
UltraTech Cement, India Cements, and other cement stocks are expected to remain in focus today as
UltraTech will acquire an additional 32.72% stake in India Cements Ltd from the promoters of the South-based company for ₹3,954 crore. The board of the Aditya Birla firm on Sunday approved the proposal to acquire the promoters' 32.72% stake at ₹390 per share, UltraTech said in a regulatory filing.
Colgate-Palmolive (India): The company has received a tax demand notice of ₹248.74 crore from the Income Tax Authority in a transfer pricing-related issue. The FMCG major said it will be challenging the order before the appellate tribunal.
Earnings today: ACC, Indian Bank, BEL,
Ideaforge Technology, HPCL, and Colgate Palmolive (India), among others, are slated to release their June quarter numbers today.
InterGlobe Aviation: The operator of IndiGo Airlines on Friday reported a nearly 12% fall in profit after tax to ₹2,728.8 crore for the three months ended June as higher fuel and other expenses took a toll on the bottom line. The budget carrier, which is set to complete 18 years of flying and introduce business class seats, said network expansion, including the addition of new destinations, will continue but flagged a higher inflationary environment.
Maruti Suzuki India: The automaker on Friday said it has received a demand of ₹779.2 crore, including interest from the Income Tax authority. The company has received a final assessment order for the financial year 2019–20 from the Income Tax Authority,
Maruti Suzuki India Ltd. (MSIL) said in a regulatory filing.
NTPC: The state-owned company on Saturday posted 12% rise in consolidated net profit at ₹5,506.07 crore for the June quarter, mainly on the back of higher income. In the year-ago period, its net profit stood at ₹4,907.13 crore, the company said in an exchange filing. Total income rose to ₹48,981.68 crore from ₹43,390.02 crore in the same period a year ago.
Dr Reddy's: Dr Reddy's Laboratories Ltd on Saturday that its consolidated profit after tax for the quarter ended June 30 was down by 1% to ₹1,392 crore compared to ₹1,403 crore during the same period last fiscal. The drugmaker said its revenues for the quarter under preview were up by 14% to ₹7,673 crore. It was ₹6,738 crore during the first quarter of FY 24.
BHEL: Bharat Heavy Electricals (BHEL) has secured a letter of intent (LOI) from Damodar Valley Corporation (DVC) to construct two 800 MW thermal power station in Koderma district, Jharkhand. The project, valued at over ₹10,000 crore, involves setting up thermal power units on an engineering, procurement, and construction (EPC) basis.
IDFC First Bank:
IDFC First Bank on Saturday reported an 11% decline in net profit at ₹680 crore in the April-June quarter. The bank had posted a net profit of ₹765 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to ₹10,408 crore as against ₹8,282 crore.
Power Grid:
Power Grid Corporation of India (PowerGrid) on Friday posted a 3.52% rise in its consolidated net profit to ₹3,723.92 crore for the June quarter, mainly on account of higher income. It had clocked ₹3,597.16 crores of profit for the year-ago period, the company said in an exchange filing.
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