Domestic equity market was trading marginally lower in early trade today. Sensex fell 28 points to 65,925 and Nifty was flat at 19,595.
Hereโs a look at stocks that are likely to remain in news today.
HDFC Bank
HDFC Bankโs investability weighting in FTSE Emerging All Cap index has risen to 1.52% from 0.81%, following the merger with HDFC.
Adani Green Energy
Promoter entity Infinite Trade and Investment has offloaded partial stake in Adani Green Energy through bulk deals on Monday, while a Qatar-based sovereign fund bought some shares. INQ Holding Llc, a wholly owned subsidiary of Qatar Investment Authority, bought 4.3 crore shares of Adani Green Energy or 2.7 per cent of its equity at Rs 920 each for a total amount of Rs 3,956 crore. Bulk deals data showed that Infinite Trade and Investment, a promoter entity of Adani Green, sold 4.5 crore shares or 2.8 per cent of its equity at Rs 920.43, for a total amount of Rs 4,142 crore.
PB Fintech
PB Fintech Ltd, which runs Policybazaar and Paisabazaar, reported reduction of losses substantially to Rs 11.9 crore in the June 2023 quarter against a loss of Rs 204.3 crore in the June 2022 quarter. Operating revenue climbed 32% to Rs 666 crore. Consolidated adjusted earnings before interest, taxes, depreciation and amortisation came at Rs 23 crore for the first quarter against an adjusted operating loss of Rs 66 crore.
Earnings today
Shares of Adani Ports, Coal India, Siemens, and Hindalco are in focus as the companies will announce their first quarter earnings today.
BEML
Shares of BEML are in focus after the company received the letter of acceptance from Bangalore Metro Rail Corporation (BMRC) for the supply of rolling stock contract 5RS-DM valued at approximately Rs 3,177 crore.
Inox Wind
A block deal worth Rs 500 crore is likely to be executed today by the promoter entity of Inox Wind to decrease its stake in the wind energy company, according to reports. The offer price for the deal will be at discount of 5 percent against the current market price.
Godrej Consumer
Godrej Consumer Products (GCPL) reported a 7.6% fall in net profit at Rs 318.82 crore in comparison to Rs 345.12 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 3,448.91 crore, rising 10.4 per cent as against Rs 3,124.97 crore during the same period last year.
Olectra Greentech
Olectra Greentech has posted net profit of Rs 18.1 crore for the quarter ended June. Revenue from operations stood at Rs 216 crore.
Sobha
Sobha Ltd reported a net profit of Rs 12.1 crore in Q1. Revenue from operations came in at Rs 908 crore.
Paytm
One 97 Communications Limited, which owns Paytm, said its subsidiary Paytm Payments Services Limited's (PPSL) auditor Price Waterhouse (PwC) has resigned with effect from August 7. SR Batliboi & Associates has been appointed as the statutory auditors of Paytm Payments Services' with effect from August 7, the company said in an exchange filing.
Tata Chemicals
Tata Chemicalsโ Q1 net profit fell 11.8 percent to Rs 523 crore in Q1FY24 compared to Rs 593 crore in the same period of FY23. Revenue rose 5.6 percent to Rs 4,218 crore in Q1FY24 against Rs 3,995 crore in Q1FY23. Net income in Q4FY23 was Rs 4,407 crore compared to the June quarter.
Torrent Pharma
Drug firm Torrent Pharmaceuticals reported a 6.8 percent year-on-year (YoY) rise in net profit at Rs 378 crore for the first quarter that ended June 30, 2023 against a net profit of Rs 354 crore.
Also read: Adani Ports Q1 results preview: Sales likely to grow 15-20%, profit may jump sharply
Also read: This Tata Group stock has delivered flat returns in 2023; where is it headed?
