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Stocks in news: Reliance Industries, JSW Energy, Biocon, RBL Bank and more

Stocks in news: Reliance Industries, JSW Energy, Biocon, RBL Bank and more

Stocks in news: Reliance Industries, JSW Energy, Biocon, RBL Bank, IDBI Bank, ICICI Securities and more

Stocks in news: Reliance Industries, JSW Energy, Biocon, RBL Bank, IDBI Bank, ICICI Securities and more Stocks in news: Reliance Industries, JSW Energy, Biocon, RBL Bank, IDBI Bank, ICICI Securities and more

Benchmark indices ended higher for the fifth straight session on Thursday led by a surge in capital goods and IT stocks. Sensex rose 284 points to 55,681 and Nifty ended 89 points higher at 16,610.

IndusInd Bank, Bajaj twins, Asian Paints, Tech Mahindra, L&T and Axis Bank were the top Sensex gainers, rising up to 7.88 per cent. Dr Reddy's, Kotak Bank, Reliance Industries and HDFC Bank were the only Sensex losers, falling up to 1.89 per cent.

Here's a look at stocks that are likely to remain in news today.

NTPC: NTPC has inked a Statement of Intent with the NITI Aayog to develop net zero greenhouse gas (GHG) emissions roadmap for the corporation, the Ministry of Power said on Thursday. The Statement of Intent (SoI) seeks to formalise a framework of cooperation between the parties to facilitate NTPC to strategies on diversification of its generation mix to eventually reduce its carbon footprint and support India's endeavour towards achieving net zero by 2070.

NLC India: NLC India said its board has approved investment proposals worth Rs 14,944.91 crore for setting up power and mining projects in Tamil Nadu. The company, which comes under the coal ministry, plans to invest over Rs 43,000 crore in various power and mining projects.

Reliance Industries: The stock of Mukesh Ambani-led company will be in focus ahead of its Q1 earnings set to be announced today.

JSW Energy: Net profit jumped 179 per cent to Rs 560 crore in the June quarter, mainly on the back of higher revenues. Profit after tax (PAT) stood at  Rs 560 crore, which was 179% higher YoY (year on year) compared to a PAT of Rs 201 crore in the corresponding period of previous year (April-June 2021). During the quarter, total revenue rose 68 per cent YoY to Rs 3,115 crore from Rs 1,860 crore in first quarter of FY22.

Biocon: The firm said the US health regulator has issued three observations after inspecting its Telangana-based manufacturing plant. The US Food and Drug Administration (USFDA) concluded a pre-approval inspection for Site 3 located at Hyderabad on July 20, Biocon Ltd said. "Three observations were cited at the end of the inspection, which we will be addressing within the stipulated time," it added.

RBL Bank: The lender posted a consolidated net profit of Rs 201 crore for the quarter ended 30 June, 2022. The bank had posted a net loss of Rs 459 crore in the year-ago period. RBL Bank's net interest income (NII) rose 6 per cent to Rs 1027.1 crore in the quarter under review as against Rs 969.5 crore in the same period last fiscal. Its net interest margin (NIM) stood at 4.36 per cent.

ICICI Securities: ICICI Securities on Thursday reported a 12 per cent decline in net income at  Rs 273 crore in the June quarter despite an increase in revenue during the same period. The company's topline grew 6% to Rs 795 crore in the first quarter of this fiscal on the back of healthy growth in retail allied and distribution income. Institutional equities revenue during the quarter fell 17% to  Rs 48.6 crore, primarily due to slowdown in market volumes and decline in capital market deals.

IDBI Bank: The private lender reported a 25 per cent rise in its standalone profit after tax (PAT) to  Rs 756 crore in the quarter ended June, driven by improvement in asset quality, better recoveries and lower provisions. The lender had reported a net profit of Rs 603 crore on a standalone basis in the year-ago quarter.

Published on: Jul 22, 2022, 9:12 AM IST
Posted by: Aseem Thapliyal, Jul 22, 2022, 9:04 AM IST