NEW DELHI: Aster DM Healthcare, Bajaj Electricals, Bata India, CESC Ltd, Cadila Healthcare, Cummins India, Equitas Holdings, GE Power India, GIC Housing, Greaves Cotton Ltd, IDFC Ltd, India Cements, Lemon Tree Hotels, Navneet Education, NESCO Ltd, New India Assurance, Pidilite Industries, PNC Infratech, PTC India, VIP Industries, among other companies will post their Q1 results today. Here are top 10 stocks that may be in the news today.
Dabur: The billionaire Burman family is set to pare its stake and give up control of a life insurance joint venture with UK’s Aviva Plc as part of its strategy to raise capital for the core consumer goods business, two people with direct knowledge of the matter said. The deal will see the Burman family stake drop to 26% from the current 51% in Aviva Life Insurance Co., the people said, requesting anonymity.
IndusInd Bank: Chief executive Sumant Kathpalia said the lender will be able to cover its exposure to troubled telco Vodafone Idea. The bank’s exposure to Future group is not very large, he said, adding that the company is already restructured and there are no payments due till March 2022.
Jindal Steel and Power: The company registered a staggering ten-fold rise in its consolidated profit during the June quarter of this fiscal. The Indian steelmaker posted consolidated net profit of ₹2,515.71 crore during the quarter under review, as opposed to ₹235.71 crore in the year-ago period.
Mahindra and Mahindra: The Indian automaker said on Tuesday it was inspecting and replacing fluid pipes in some of its pickup trucks made between January 2020 and February 2021 for suspicion of improper assembly. The inspection and replacement is limited to 29,878 vehicles.
Manappuram Finance: The gold lender’s June quarter showed the pain from the second wave of the pandemic as most metrics showed a worsening trend. The lender had to auction ₹1,500 crore worth of gold during the June quarter, an over threefold jump from the previous quarter’s ₹404 crore. To put it in context, the lender auctioned just ₹8 crore worth of gold in the first three quarters of FY21.
RIL: Mukesh Ambani’s Reliance New Energy Solar Ltd (RNESL), a wholly-owned unit of Reliance Industries will invest $50 million in Ambri Inc, a renewable energy storage company in the US. RIL is also weighing a bid for Deutsche Telekom AG’s Netherlands subsidiary, T-Mobile Netherlands BV, according to people familiar with the matter. Deutsche Telekom is seeking about $5.9 billion in any sale, the people said.
Vedanta: Group chairman Anil Agarwal on Tuesday said that the company is committed to bringing in future investments of up to $20 billion across its businesses. Agarwal was addressing the shareholders during the 56th Annual General Meeting of the company.
Vodafone Idea: The telco has moved the Supreme Court, seeking a review of its 23 July order dismissing telecom service providers’ petitions seeking recomputation of adjusted gross revenue (AGR) dues.
Welspun India: The company has set aside ₹600 crore capex this fiscal for expansion projects, as it expects the top line to grow by more than 15% in FY22 driven by expanded capacities and buoyant customer demand.
Zomato: Food delivery platform Zomato Ltd on Tuesday reported a sharp increase in quarterly loss in its first earnings release after last month’s blockbuster initial public offering. Loss widened to ₹360.7 crore in the quarter ended 30 June from ₹134.2 crore in the preceding three months because of an expanded Employee Stock Ownership Plan (ESOP) pool.
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