Top 10 stocks for today

11 Jul 2022 , 08:28 AM

Here are the top 10 stocks with major news in them and the potential to move the markets:

1. MMTC:

Compared to a loss of Rs597.17 crore in the same quarter last year, the state-owned mining and metals company posted a consolidated net profit of Rs118.38 crore for the fourth quarter that ended in March. Its overall revenue for the January-March quarter was Rs2,260.81 crore as opposed to Rs9,314.17 crore.

1. REC:

 Rs65.83 crore bonus shares are being issued by the state-owned financial company. These bonus shares will be distributed by postal ballot using capital reserves totaling Rs. 658.30 crore. In exchange for shareholders owning three current shares, the corporation has proposed to issue one new (bonus) share.

1. Indian Overseas Bank:

The state-owned lender has raised the loan rate across tenures based on the marginal cost of funds, by 0.10%. The new rates range from 6.95 to 7.55% and take effect on July 10.

1. Punjab National Bank:

In order to determine the embedded value of the insurance joint venture CHOICE, in which the state-owned bank must sell its part in accordance with regulatory requirements, the state-run lender will choose an actuarial consultancy. On July 11, 2022, the New Delhi-based lender will begin accepting financial offers to choose the actuarial company.

1. Tata Motors:

The domestic auto giant claimed that in order to partially offset the effects of growing input costs, it has hiked the prices of its lineup of passenger vehicles with immediate effect. Starting on Saturday, the range will experience a weighted average price increase of 0.55 %, depending on the model and variant.

1. Bandhan Bank:

According to the bank, the largest lender’s advances increased by 20% from a year ago to Rs96,649 crore as of June 30. By the conclusion of Q1 FY23, the private sector lender’s total deposits had increased by 20% to Rs93,057 crore.

1. Avenue Supermarkets:

For the quarter that ended on June 30, 2022, the owner of D-Mart recorded a more than six-fold increase in its consolidated net profit to Rs642.89 crore, aided by a “very robust recovery” in overall sales and a very low YoY base. In the quarter from April to June of the previous year, the company reported a net profit of Rs95.36 crore.

1. Power Grid Corporation of India:

An interstate transmission project for the evacuation of electricity from Neemuch SEZ in Madhya Pradesh has been awarded to the state-owned power company. Through a competitive bidding process based on tariffs, PGCIL was awarded the project.

1. Fortis Healthcare:

According to its Annual Report for 2021—22, the healthcare facilities company plans to increase its presence in current sites by about 1,500 beds during the following five years. At present, the company employs about 4,300 employees.

1. Tata Consultancy Services:

The largest software exporter in the nation recorded a 5.2% increase in net profit for the June quarter to Rs9,478 crore. However, this increase was constrained by the impact of yearly salary increases and promotions, which caused operating profit margins to decline to multi-quarter lows.