Stocks to Watch: ACC, Adani group, HCL Tech, PNB HFL, Vedanta, telecom stocks
Premium- Asian Paints, Jubilant Ingrev, JSW Ispat, ICICI Securities, ICICI Prudential, DCM Shriram, Bajaj Finance, among other companies will report their earnings today.
NEW DELHI: Here are top 10 stocks that may be in the news today.
ACC: The cement company reported net sales of ₹3,884.80 crore in June, up 49.37% from ₹2,600.83 crore in June 2020. First quarter net profit stood at ₹533.81 crore in June 2021, up 99.19% from ₹267.99 crore in June 2020. Ebitda stood at ₹919.41 crore in June 2021, up 59.99% from ₹574.67 crore in June 2020.
Adani group: The group said that it has not received any communication or information requests recently from the Securities and Exchange Board of India (Sebi) recently and the Directorate of Revenue Intelligence (DRI) show-cause notice was issued five years back. The DRI and Sebi are investigating some entities of Adani Group for non-compliance of rules, MoS finance Pankaj Chaudhary informed Parliament on Monday.
Airline stocks: Domestic air passenger traffic rose by about 47% in June, compared to May. About 3.11 million passengers traveled by air in June, compared with 2.12 million passengers recorded in May, as fresh covid infection rate declined, according to data released by the Directorate General of Civil Aviation (DGCA) on Monday.
HCL Tech: The IT company reported a 9.4% rise in consolidated net profit at ₹3,213 crore for the quarter ended 30 June, 2021. The IT services firm had reported net profit of ₹2,935 crore in the year-ago period. HCL chief strategy officer and managing director (MD) Shiv Nadar resigned as the MD as well as the director of the company effective 19 July. HCL president and chief executive C. Vijayakumar, has been appointed as MD of the company, with a title of CEO and MD, for a term of five years effective today.
HDFC Life Insurance Co.: The company reported consolidated net profit of ₹3.02 billion compared to ₹4.51 billion a year ago. The insurer’s Q1 net investment income fell 20% year-on-year to ₹69.6 billion. The company’s stock was trading at ₹679.00 each down 2.72% at 3:28 pm.
Indian Bank: The state-run lender recorded a net profit of ₹1,182 crore in the quarter ended 30 June 2021, marking a 220% increase from profit of ₹369 crore seen in the corresponding quarter in the previous fiscal. The bank saw its net profit decline 31% sequentially in comparison to ₹1,709 crore registered in the March quarter of FY21.
PNB HFL: On Monday, the Securities Appellate Tribunal chose to reserve it's order on PNB Housing Finance Ltd’s preferential issue. Sebi said during the hearing that irrespective of the presence of Articles of Association in a listed firm, a valuation report is required to ensure appropriate pricing level for a proposed issue. This will ensure that smaller shareholders are not discriminated against, the regulator said.
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Maruti Suzuki: Suzuki Motor Corp. will enter the electric vehicle market by 2025 starting in India, Nikkei reported on Monday. The automaker plans an all-electric compact model to be made available for around 1.5 million yen ($13,626) after government subsidies are taken into account, the Nikkei said.
Telecom stocks: The Supreme Court on Monday said it would pass orders on applications filed by telecom majors—Vodafone Idea, Bharti Airtel and Tata Tele Services Ltd—raising the issue of alleged errors in calculation in the figure of adjusted gross revenue (AGR)-related dues.
Vedanta: The National Company Law Appellate Tribunal (NCLAT) has put on hold the sale of Videocon Industries Ltd to billionaire Anil Agarwal owned Twin Star Technologies till 7 September, following appeals by dissenting creditors who are unhappy with the value realised through the resolution.
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