NEW DELHI: Here are top 10 stocks that may be in the news today.
Bajaj Finance: The company’s consolidated net profit for the first quarter of FY22 came at ₹1,002 crore, up 4% as compared to ₹962 crore in the same quarter last year. Its Net Interest Income (NII), the difference between interest earned and interest expended, for Q1FY22 increased by 8% to ₹4,489 crore as against ₹4,152 crore in the year ago quarter, the financial services company’s quarterly results showed.
Gland Pharma: The drugmaker reported an 11.83% increase in its consolidated net profit to ₹350.7 crore for the quarter ended 30 June 2021, compared to ₹313.6 crore a year ago. Consolidated revenue from operations of the company stood at ₹1,153.9 crore for the quarter under consideration. It was ₹884.2 crore for the same period a year ago, Gland Pharma added.
Glenmark Pharmaceuticals: The company has said in a notice to exchanges that its arm Glenmark Life Sciences Ltd’s initial public offering will open on 27 July and close on 29 July. Glenmark Life Sciences Ltd is an API arm of Glenmark Pharmaceuticals. The IPO will consist of a fresh issue of ₹1,060 crore and an offer for sale of up to 6.30 million shares by Glenmark Pharmaceuticals.
ICICI Prudential Life Insurance Co: The insurer reported a 51% drop in business on an annualized premium equivalent basis for Q1FY22. Year-on-year growth looked strong at 48% simply because of a low base. On a gross basis, the company settled ₹1,120 crore worth of claims specific to the pandemic during Q1FY22, which was three times that of the entire FY21.
IDFC Ltd: The Reserve Bank of India has allowed IDFC Ltd to exit as the promoter of IDFC First Bank Ltd after the 5 year lock-in period, the bank said in a statement to exchanges on Wednesday. This could pave the way for a potential reverse merger between IDFC Ltd and IDFC First Bank Ltd.
Infosys: The outsourcing giant told employees last week they could resume work from offices, according to a memo seen by Reuters that offers an early sign of the country’s $190 billion technology services sector moving to get back on track.
Jubilant Foodworks: The operator of Domino’s Pizza and Dunkin’ Donuts restaurants in India, swung to a consolidated net profit of ₹69.06 crore in the first quarter of the ongoing fiscal year (Q1FY22), from a year-ago loss, thanks to a sharp increase in revenue.
Realty stocks: The Indian real estate market is estimated to touch $1 trillion by 2030 driven by rising demand and various reforms in the past seven years like new realty law RERA, housing and urban affairs secretary Durga Shanker Mishra said on Wednesday.
Telecom stocks: The Supreme Court will pronounce its judgment on the Airtel, Voda-Idea’s plea seeking direction for correction of errors in Adjusted Gross Revenue (AGR) calculation today. Vodafone-Idea claimed that it is about to go under, cited dues of ₹1.8 lakh crore and sought correction of arithmetic errors, while Bharti Airtel claimed duplication, unaccounted payments, disallowed deductions.
Vedanta group: Lenders may now ask Vedanta group firm Twin Star Technologies to substantially revise the upfront cash component from the current offer of ₹200 crore, which has been criticized by creditors as meagre, given Videocon has assets spanning oil and gas, consumer durables and real estate, people familiar with the matter said on condition of anonymity.
(The promoters of HT Media Ltd, which publishes Mint, and Jubilant Foodworks are closely related. There are, however, no promoter cross-holdings.)
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