Stocks in news: Adani Green, Marico, PowerGrid, IDFC First Bank and more

Domestic equity market closed lower on Friday amid negative global cues and profit-booking. Sensex fell 106 points to end the session at 66,160 and Nifty lost 14 points to settle at 19,646.   

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

IDFC First Bank 

IDFC First Bank's profit rose 61% YoY to Rs 765 crore in the first quarter led by strong growth in core operating income. The bank's net profit for the April-June quarter of last fiscal was Rs 474 crore. Total income grew 43% to Rs 8,282 crore. 

NTPC  

State-owned power producer posted over 23 per cent rise in consolidated net profit at Rs 4,907.13 crore for June quarter against net profit of Rs 3,977.77 crore. Total revenue from operations fell slightly to Rs 43,390.02 crore from Rs 43,560.72 crore in the same period a year ago. 

Marico 

Marico's consolidated net profit rose 15% to Rs 427 crore for the April-June period. Revenue from operations fell by 3.2 percent YoY to Rs 2,477 crore on weak India business and moderate growth in international business, with domestic volume growth at 3 percent. 

Earnings Today  

Shares of Maruti Suzuki, Power Grid, GAIL, and Adani Green are in focus today as these companies will announce their first quarter earnings today. 

Sonata Software 

Sonata Software reported a net profit of Rs 120 crore for the quarter ended June against  profit of Rs 107 crore in June 2022 quarter. Revenue from operations came at Rs 2043 crore in Q1 against  Rs 1797 crore revenue in the same period last year. 

Nazara Technologies 

Nazara Technologies reported a 31% rise in net profit at Rs 21 crore for the first quarter ended June against Rs 15.9 crore in the corresponding period last year. Revenue from operations grew 14% to Rs 254.4 crore in Q1 from Rs 223.1 crore a year ago. 

Bank of India 

Bank of India reported a 176% rise in net profit to Rs 1,551 crore in the June quarter against a net profit of Rs 561 crore in the year-ago quarter. Net interest income climbed 45 percent on a year-on-year basis (YoY ) to Rs 5,915 crore.  Net interest margin (NIM) rose 51 bps to 3.37 percent in the April-June FY24 quarter against 2.87 percent in the corresponding quarter last year. 

 Piramal Enterprises 

Shares of Piramal Enterprises will be tracked today after the firm on Friday said its board has approved a share buyback of up to 1,40,00,000 shares of face value Rs 10 each for an aggregate amount not exceeding Rs 1,750 crore.The firm reported a consolidated profit of Rs 509 crore for the first quarter of the financial year 2023-24. 

 

Also read: Maruti Suzuki Q1 results preview: 120-160% jump in profit likely; margins to expand

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