Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 19,816, signaling that Dalal Street was headed for a positive start on Monday. Here’s a slew of stocks that will be in focus today for various reasons.
Results Today: Shares of Maruti Suzuki, Adani Green, Power Grid, GAIL, Adani Transmission will be in focus today as they gear up to announce their first fiscal quarter earnings results.
TCS: The new CEO of TCS, K Krithivasan, has revamped the operating structure for senior management and changed some of the SMP (senior management personnel) members. It also elevated Harrick Vin as the new chief technology officer and Abhinav Kumar as the interim head for marketing.
SBI Cards: SBI Cards and Payment Services reported a slide in first-quarter profit as elevated credit costs and margin compression offset growth in revenue. Profit after tax for the June quarter fell 5.36% to Rs 5.93 billion.
IDFC First Bank: IDFC First Bank posted its fiscal first quarter profit, on a standalone basis, at Rs 765 crore, up 61% in comparison to Rs 474 crore in Q1FY23, in line with the estimates. The profit growth was driven by strong growth in core operating income.
NTPC: NTPC reported a 23% rise in consolidated net profit at Rs 4,907.13 crore for June quarter 2023-24. In the year-ago period, net profit was Rs 3,977.77 crore.
Bank of India: Bank of India reported a nearly three-fold surge in net profit at Rs 1,551 crore in the current quarter, due to a decline in bad loans and higher margins following repricing of existing assets.
Piramal Enterprises: Piramal Enterprises’ board of directors approved a share buyback of up to 1.4 crore shares, at Rs 1,250 apiece, not exceeding an aggregate amount of Rs 1,750 crore.
Power Grid: Power Grid Corporation’s board has approved raising up to Rs 5,700 crore this fiscal in multiple tranches through issuance of unsecured bonds on a private placement basis. The funds raised will be used to part finance its capex requirement.
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