The Indian stock market is speculated to open flat on Friday, as the Reserve Bank of India prepares its bi-monthly monetary policy announcement. The SGX Nifty was trading 21.50 points or 0.13 percent higher at 16,332.00at 7.10 am, indicating a flat or mildly positive start for the broader index in India.
Top stock to look for the day:
Cipla:The Indian multinational pharmaceutical company’s Q1FY22 consolidated net profit climbed 23.7 percent to Rs 714.72 crore from Rs 577.91 crore. Its revenue increased 26.6 percent to Rs 5,504.35 crore from Rs 4,346.16 crore, year over year.
Maruti Suzuki India: Another stock to look for is that of the automotive manufacturer Maruti Suzuki, whose total production in July increased by 58.5 percent on a yearly basis to 170,719 units.
Reliance Industries: It will be interesting to watch the Indian multinational conglomerate company whose subsidiary Reliance Reliance Strategic Business Ventures Ltd (RSBVL) has invested Rs 20 crore in Neolync Solutions Pvt Ltd. It is expected that the company will make another investment of Rs 40 crore by March 2023 following the completion of agreed milestones.
Indiabulls Housing Finance: The mortgage lender has reported a 3.3 percent increase in the first quarter of 2022 financial year with its net profit at Rs 282 crore from Rs 273 crore and net interest income (NII) growth of 4.7 percent at Rs 765 crore from Rs 731 crore, year over year.
Adani Power: The energy company has consolidated a profit at Rs 278.22 crore in the first quarter of 2022 financial year against a loss of Rs 682.46 crore in the first quarter of 2021 financial year. The company’s revenue increased to Rs 6,568.86 crore from Rs 5,203.83 crore, year over year.
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