Stocks in news: Wipro, IndusInd Bank, Havells India, ITC and more

Benchmark indices ended higher for the fourth straight session on Wednesday led by a surge in IT and banking stocks. Sensex rose 630 points to 55,397 and Nifty gained 180 points to 16,520. Buying in index majors Reliance Industries and Infosys also supported sentiment. Tech Mahindra, HCL Tech, Tata Consultancy Services and Reliance emerged as the top Sensex gainers, rising up to 3.84 per cent. M&M, Sun Pharma and Kotak Bank were the top Sensex losers, falling up to 1.81 per cent.

Share Market Live: Sensex, Nifty open lower; L&T, Kotak Bank top losers

Here's a look at stocks that are likely to remain in news today.

Wipro: The IT services company reported a 20.6 per cent year-on-year decline in consolidated net profit at Rs 2,563.6 crore for the quarter ended 30 June, 2022 as higher employee-related costs pushed up firm's overall expenses. The company had reported a net profit of Rs 3,232 crore in the year-ago period.  Sequentially, the net profit decreased 16.9 per cent from Rs 3,087 crore in the previous quarter (Q4FY22).

IndusInd Bank: The lender posted a 64.4 per cent year-on-year (YoY) surge in its standalone net profit at Rs 1,603 crore for the April-June quarter of 2022-2023. The private lender had posted a net profit of Rs 975 crore in the year-ago period. Its net interest income rose 15.8 per cent to Rs 4,125 crore as against Rs 3,563.7 crore in the same period last year.

Havells India: Consumer electrical goods maker reported a nearly four-fold jump in its consolidated net profit at Rs 235.78 crore for the first quarter ended June 2021. The company had posted a consolidated net profit of Rs 63.98 crore in the April-June quarter a year ago, Havells said in a regulatory filing.

Tata Communications: Profit after tax (PAT) stood at Rs 544 crore in Q1, which is an uptick of 83.6 per cent on-year from Rs 296 crore in Q1 FY22. Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 1,077 crore, an increase of 9.2 per cent  from the same period last year. The company reported consolidated revenue of Rs 4,311 crore in Q1 FY23, an increase of 5.1 per cent YoY.

ITC: The Diversified conglomerate said that the company will continue to deliver robust growth despite key concerns such as inflation. Speaking at the company's AGM virtually, CMD of ITC Sanjiv Puri said that in the FMCG space, the firm has nurtured 25 brands and the newer ones will garner an annual consumer spend of Rs 24,000 crore.

NTPC: The state-owned power giant has signed a pact with Moroccan Agency for Sustainable Energy (MASEN) for cooperation in renewable energy. It inked an MoU with MASEN for cooperation in the renewable energy sector during the 17th CII EXIM Conclave on India Africa Growth Partnership held in New Delhi from 19th-20th July 2022.

CEAT: The tyre maker logged a 61 per cent fall in its consolidated net profit at Rs 9 crore for the June quarter as high raw material prices impacted business. The Mumbai-headquartered company had posted a net profit of Rs 23 crore in the corresponding period of last year.