Indian stock markets may see a flat opening on Tuesday following mixed trends in global peers. At 7:15 am IST, the SGX Nifty was trading 11.50 points or 0.07 percent higher at 16,285.50, indicating a flat-to-subdued start for the broader index in India, cnbctv18.com reported.
Top stock to look for the day:
Indian Bank: The lender said that Non Performing Accounts (NPA) of IL&FS Engineering & Construction Company and IL&FS Transportation Networks with a total outstanding balance of Rs 292 crore have been declared as fraud.
Gujarat State Petronet: The natural gas distribution company posted a standalone net profit at Rs 232 crore in Q1FY22, which is 17 per cent higher than Rs 199 crore in corresponding period last year. The company’s total income stood at Rs 527 crore from Rs 465 QoQ.
Indian Hotels: Tata group’s hospitality arm reported narrowing of its net loss to Rs 301.58 crore in Q1FY22 as against Rs 312.60 crore in the year-ago period.
Shree Cement: The company posted a sharp higher profit of Rs 661.6 crore in Q1FY22 as against Rs 370.8 crore in Q1FY21. Total income surged to Rs 3,449.5 crore from Rs 2,332.4 crore, YoY
Bombay Dyeing: The textile major’s net loss in Q1FY22 narrowed to Rs 107.9 crore from Rs 129.1 crore in the corresponding quarter last year. Meanwhile, the company’s total income jumped to Rs 380.8 crore from Rs 91.2 crore, YoY.
Motilal Oswal Financial Services: Indian independent credit rating agency ICRA upgraded the company’s rating on long term debt instruments to ‘AA-/Stable’ from ‘A+/Stable’.
Tata Investment Corporation: The non-banking financial company’s consolidated net profit stood at Rs 53.89 crore in Q1FY22 as against Rs 18.40 crore in the same period last year. While revenue increased to Rs 61.90 crore from Rs 30.90 crore, YoY.
Texmo Pipes and Products: The company has received orders from multiple contractors of High Density Poly Ethylene (HDPE) pipes worth Rs 121.59 crore to be achieved within 6-7 months.
Timken India: The company reported a higher profit at Rs 56.72 crore in Q1FY22 against Rs 3.15 crore in the year-ago period, while total income surged to Rs 467.85 crore from Rs 160.23 crore, YoY.
Earnings Today: Ashoka Buildcon, Brookfield India Real Estate Trust REIT, Coal India, Cochin Shipyard, Capacite Infraprojects, Computer Age Management Services, Century Plyboards, Chalet Hotels, Deepak Fertilisers, Eveready Industries, Heranba Industries, Godrej Agrovet, Galaxy Surfactants, Infibeam Avenues, IRB Infrastructure Developers, Jindal Steel & Power, Krishna Institute of Medical Sciences, Lupin, Linde India, Motherson Sumi Systems, Mrs Bectors Food Specialities, Manappuram Finance, Max Financial Services, Power Grid Corporation of India, Prestige Estates Projects, Reliance Infrastructure, Spencers Retail, Siemens, Tata Teleservices (Maharashtra), Trent, Whirlpool of India, Wonderla Holidays and Zomato among others will release their quarterly earnings on Tuesday, August 10.