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    Stocks in the news: Axis Bank, Tata Steel, Bajaj Finserv, L&T, TechM and telcos

    Synopsis

    Asian Paints, L&T, Bajaj Auto, Tata Power, United Spirits, Union Bank of India, Relaxo Footwears, Sanofi, Aditya Birla SL AMC, KEI Industries, and UTI AMC are among the companies that will announce their earnings for the quarter ended June 2022.

    People walk past the Bombay Stock Exchange (BSE) building in MumbaiReuters
    Stocks in buzz: M&M, Sun Pharma, Macrotech Developers, Lupin, Jindal Stainless, GSK Pharma, Canara Bank, Anupam Rasayan and more
    Nifty futures on the Singapore Exchange traded 27 points, or 0.16 per cent lower at 16,591.5, signaling that Dalal Street was headed for a negative start on Tuesday. Here are a dozen stocks which may buzz the most in today's trade:

    Asian Paints, L&T, Bajaj Auto: Asian Paints, Larsen & Toubro, Bajaj Auto, Tata Power Company, United Spirits, Union Bank of India, Relaxo Footwears, Sanofi India, Aditya Birla Sun Life AMC, KEI Industries, India Grid Trust, SIS, Symphony and UTI Asset Management, are among the companies that will announce their earnings for the quarter ended June 2022.

    Tata Steel: The domestic steel major posted a 21 per cent fall in its consolidated net profit to Rs 7,714 crore for the April-June quarter due to higher costs of materials and finance costs. The company had reported a net profit of Rs 9,768 crore in the same period of 2021-22.

    Tech Mahindra: The software exporter reported a 16.4 per cent slide in June quarter net at Rs 1,132 crore as its profit margins narrowed due to a slew of factors. The Mahindra group company, which is the fifth largest IT exporter in the country, had posted a net profit of Rs 1,353 crore in the year-ago period.

    Axis Bank:
    The third largest private sector lender reported a 86 per cent jump in its consolidated June quarter net at Rs 4,380.59 crore, helped by a steep fall in the amount set aside for bad loans. On a standalone basis, it witnessed a 91 per cent increase in the net profit at Rs 4,125.26 crore.

    Bajaj Finserv:
    The board of directors of financial firm will consider the proposal for a stock split of company's equity shares. Through stock split, a company increases its number of outstanding shares while reducing the price of each share without affecting the firm's overall market capitalisation.It will also consider the proposal of issue of bonus equity shares.

    Mahindra & Mahindra:
    The homegrown auto major has partnered with Visteon Corporation to provide immersive in-vehicle experience in its all-new Scorpio-N SUV. The Scorpio-N features a 17.78 cm colour Driver Information Display and 20.32 cm infotainment system with navigation.

    Telcos: The 5G spectrum auction will begin on Tuesday with four players, including Reliance Jio and Bharti Airtel, set to bid for 72 GHz of radiowaves worth Rs 4.3 lakh crore on offer. The bidding process is scheduled to start on Tuesday from 10 am and go on till 6 pm.

    Sun Pharma: The Life Insurance Corporation said it has reduced shareholding in the drug maker by selling 2 per cent stake in the company for about Rs 3,882 crore. The shares were sold through open market transactions during the period from May 17, 2021 to July 22, 2022.

    Macrotech Developers: The realty firm reported a 68 per cent increase in its consolidated net profit to Rs 270.80 crore for the June quarter on better sales. The company's net profit stood at Rs 160.91 crore in the year-ago period.

    Lupin:
    The drug firm said it has received an approval from the US Health regulator to market generic medication to treat high blood pressure. The Mumbai-based company said it has received the nod from the US Food and Drug Administration (FDA) to market Azilsartan Medoxomil tablets.

    Indian Energy Exchange: The energy bourse posted over 11 per cent rise in its consolidated net profit to Rs 69.12 crore in the June quarter compared to the year-ago period on the back of higher revenues. The consolidated net profit of the company was Rs 62.10 crore in the quarter ended on June 30, 2021.

    Jindal Stainless: The iron and steelmaker reported about 8 per cent increase in its consolidated net profit to Rs 329.37 crore in the April-June quarter on higher income. The company had a net profit of Rs 305.84 crore in the same period of 2021-22.

    GlaxoSmithKline Pharmaceuticals:
    The drug maker said its consolidated net profit increased by 8 per cent to Rs 116 crore in the first quarter ended on June 30, 2022. The drug firm had reported a net profit of Rs 107 crore in the April-June quarter of the previous year.

    Century Textiles and Industries: The AV Birla group firm reported a 78 per cent jump in net income at Rs 63 crore driven by robust sales in the first quarter. The company, which is primarily into textiles, pulp and paper products and realty, said its sales grew to Rs 1,170 crore, a growth of 41 per cent compared to the year-ago period.

    Canara Bank: The state-owned lender reported a 72 per cent rise in its standalone profit after tax at Rs 2,022 crore in the April-June quarter of FY23, helped by healthy credit growth and interest income. In the corresponding quarter of the previous fiscal, its standalone Profit After Tax (PAT) stood at Rs 1,177 crore.

    Anupam Rasayan: The chemicals maker posted a 25.56 per cent increase in its consolidated net profit at Rs 39.69 crore in the first quarter of the 2022-23 fiscal on higher income. The company had posted a net profit of Rs 32.12 crore in the same quarter of previous year.

    Orient Electric:
    The CK Birla group company reported over threefold jump in net profit to Rs 18.95 crore for the first quarter ended on June 30, 2022. The company had posted a net profit of Rs 5.01 crore in the April-June quarter of the last fiscal.

    Kamdhenu: The TMT bars maker net profit before tax (PBT) from the steel business edged up to Rs 13.5 crore in the April-June quarter of 2022-23 from Rs 13.3 crore in the year-ago period. Total revenues rose by 70 per cent to Rs 191.2 crore in April-June FY23 from Rs 112.7 crore in the year-ago quarter.

    Sonata Software: The smallcap IT player said the board has approved a bonus issue of one equity share for every three equity shares held by the shareholders of the company as on the record date. The bonus issue of equity shares will be subject to approval by the shareholders.

    Karur Vysya Bank: The private lender reported more than doubling its net profit to Rs 229 crore in the June quarter, led by higher interest income and improved interest margin. The bank had posted a net profit of Rs 109 crore in the year-ago period.

    IIFL Wealth & Asset Management: The wealth management firm reported a 35 per cent growth in its profit after tax at Rs 160 crore for three months ended June 2022. In comparison, the company had posted a PAT (Profit After Tax) of Rs 119 crore in the same quarter of the preceding fiscal.

    Strides Pharma Science: The pharma player said its board has approved to raise up to Rs 150 crore through an issue of securities on a private placement basis, up to 1,500 senior, secured, rated, unlisted, redeemable, non-convertible debentures of face value Rs 10 lakh each.

    Emkay Global Financial Services: The stock broking and allied services player has become the latest entities to approach capital markets regulator Sebi for a mutual fund licence. It has joined the list of seven entities, which are awaiting Sebi's approval to enter into the mutual fund space.

    Coffee Day Enterprises: The brewery firm said it has asked its subsidiaries and one joint venture firm to file suit against MACEL for recovery of dues. In July 2020, an investigation revealed that Mysore Amalgamated Coffee Estates Limited (MACEL) owes Rs 3,535 crore to the subsidiaries of CDEL.

    RattanIndia Power: The electric utilities firm reported narrowing of its loss to Rs 389.30 crore in the June quarter compared to the year-ago period. The company had reported a consolidated net loss of Rs 824.42 crore in the quarter ended on June 30, 2021.

    Vikas Lifecare: The diversified firm reported a 680 per cent rise in the net profit to Rs 2.59 crore for the quarter ended June 30, 2022. The company had recorded a net profit of Rs 0.33 crore in the same quarter previous year.

    Dynamic Cables: The electrical cable manufacturer has received a principal approval for its debut on the National Stock Exchange (NSE). The equity shares of the company shall be listed and admitted to dealing on NSE with effect from Wednesday, July 27.

    Future Supply Chain Solutions: The beleaguered future group companies reported a net loss of Rs 624.22 crore for the fourth quarter ended March this year. The loss was mainly on account of credit loss from group firm Future Retail (FRL) which is now facing insolvency proceedings.



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    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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