Here are the top 10 stocks with major news in them and the potential to move the markets:
The private lender’s consolidated net profit for the June quarter increased by 55.04% to Rs7,384.53 crore, thanks to a dramatic drop in provisions and persistently high core interest income. In comparison to the same time last year, it earned a standalone net profit of Rs6,904.94 crore as opposed to Rs4,616.02 crore.
The company announced a 46% increase in net profit for the June quarter due to record profits from oil refining as well as a rebound in the telecom and retail sectors. The oil to retail to telecom conglomerate’s overall net profit increased from Rs12,273 crore to Rs17,955 crore in April to June of last year.
Due to record margins and a decrease in bad loans, the private sector lender reported a 26% increase in net income at Rs2,071.15 crore in the June quarter. In comparison to the same quarter last year, the financial services group’s net income increased by 53% to Rs2,755 crore on a consolidated basis.
The second-largest IT services company in India reported a lower-than-anticipated 3.2% increase in net profit for the June quarter despite rising expenses. In comparison to the same quarter a year prior, net profit increased to Rs5,360 crore, or Rs12.78 per share.
The domestic auto giant announced that it had won a contract from Delhi Transport Corporation (DTC) for 1,500 electric buses as part of a Convergence Energy Services deal. According to the contract, the car giant will provide, operate, and maintain air-conditioned, low-floor, completely constructed electric buses for 12 years.
For the purpose of generating revenue from its future field at Khubal in the region of North Tripura, the state-run natural gas provider has signed gas selling contracts with GAIL India and Assam Gas Company Ltd (AGCL). According to the agreement, Khubal Gas Gathering Station will provide 50,000 standard cubic metres of gas to each of the GAIL and AGCL (GGS).
The mortgage lender intends to issue bonds through a private placement in order to raise up to Rs11,000 crore. The secured redeemable non-convertible debentures of the corporation have a base issue size of Rs4,000 crore and an option to retain an oversubscription of up to Rs7,000 crore.
In the June 2022 quarter, the steel producer’s overall net profit fell by roughly 85% year over year to Rs839 crore due to rising expenses. The company’s profit for the April through June of the prior 2021—22 fiscal year was Rs5,900 crore.
For the June 2022—2023 quarter, the private sector lender recorded a 54.17% increase in consolidated net profit at Rs314.14 crore, led by core revenue growth and a decline in provisions. It reported a standalone net profit of Rs310.63 crore as opposed to Rs206.84 crore in the same period last year.
The telecom company stated that Akshay Moondra, who now serves as chief financial officer, will take over as CEO on August 19. Ravinder Takkar, who now serves as the company’s managing director and chief executive officer, will remain a non-executive and non-independent director on the board.
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