Benchmark indices Sensex and Nifty snapped their six-day winning run to close lower by over a half per cent after profit booking in oil & gas, automobile and telecom stocks .
Sensex fell 306.01 points or 0.55 per cent to settle at 55,766.22 dragged down by index heavyweight Reliance Industries. The other laggards from the pack were Maruti Suzuki India, Kotak Mahindra Bank, UltraTech Cement, Tech Mahindra and Nestle.
Tata Steel, IndusInd Bank, Asian Paints, HCL Technologies, Wipro and NTPC were among the gainers.
Here's a look at stocks that are likely to remain in news today.
Earnings today: Asian Paints, Larsen & Toubro, Bajaj Auto, Tata Power Company, United Spirits, Union Bank of India, Relaxo Footwears, Sanofi India, Aditya Birla Sun Life AMC NSE, KEI Industries are among the major companies which are set to announce their earnings today.
Tata Steel: The firm has reported a 21 per cent fall in its consolidated net profit for the first quarter of the current financial year (Q1FY23). The steel major registered a consolidated net profit of Rs 7,714 crore for the quarter ended June 30, 2022, which was lower than the corresponding quarter's Rs 9,768 crore in FY22.
Axis Bank: Axis Bank reported strong earnings for the quarter ended June 30, 2022. Axis Bank's PAT (profit after tax) jumped nearly 91 per cent year-on-year to Rs 4,125 crore in Q1FY23 as against Rs 2160.2 crore in Q1FY22. The bank's net interest income surged to almost 21 per cent year-on-year to Rs 9,384 crore in the June quarter of FY23 against Rs 7,760 crore in the same quarter a year ago.
Bajaj Finserv: The board of directors of financial firm will consider the proposal for a stock split of company's equity shares.
Sun Pharma: The Life Insurance Corporation has reduced shareholding in the drug maker by selling 2 per cent stake in the company for about Rs 3,882 crore.
Macrotech Developers: The realty firm logged a 68 per cent rise in its consolidated net profit to Rs 270.80 crore for the June quarter on better sales. The company's net profit stood at Rs 160.91 crore in the year-ago period.
GlaxoSmithKline Pharmaceuticals: Consolidated net profit rose 8 per cent to Rs 116 crore in the first quarter ended on June 30, 2022. The drug firm had reported a net profit of Rs 107 crore in the April-June quarter of the previous year.
Canara Bank: The state-owned lender logged a 72 per cent rise in its standalone profit after tax at Rs 2,022 crore in the April-June quarter of FY23, helped by healthy credit growth and interest income. In the corresponding quarter of the previous fiscal, its standalone Profit After Tax (PAT) stood at Rs 1,177 crore.
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