Stocks in news: ICICI Bank, RIL, Balrampur Chini, Delta Corp, SBI and more

Domestic equity market closed higher on Friday snapping a three-day losing streak. Sensex rose 480 points to end the session at 65,721 and Nifty gained 135 points to settle at 19,517.  

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

Bank of Baroda 

Public sector lender Bank of Baroda reported a 88% jump in net profit at Rs 4,070 crore for the quarter ended June 30, 2023, led by a healthy interest income on the back of asset repricing and higher loan sales. It reported net profit of Rs 2,168 crore in the year-ago period. The bank's net interest income rose 24% to Rs 10,997 crore in Q1FY24 as against Rs 8,838 crore in Q1FY23, coupled with robust growth in non-interest income that grew 2.8 times. 

RIL  

Jio Financial is expected to listed soon, RIL said in its annual report as it seeks to propel its recently carved out unit into India’s largest non-banking lender 

Britannia  

Biscuit maker Britannia Ltd's consolidated net profit rose 36% to Rs 458 crore in Q1 from Rs 335.74 crore posted a year back. Sequentially, profit fell 18.3 percent from Rs 557.60 crore. Revenue rose 8.36 percent to Rs 4,010.70 crore from Rs 3,700.96 crore a year ago, the company said in a regulatory filing, while it was down 0.31 percent sequentially. 

ICICI Bank 

ICICI Bank received the Reserve Bank of India's (RBI) nod on Friday to increase its stake in ICICI Lombard General Insurance Company by up to 4% in multiple tranches. The private lender currently holds a 48.01% share in ICICI Lombard. 

Balrampur Chini  

Balrampur Chini Mills' Q1 profit zoomed a whopping 493% to Rs  73.5 crore during the quarter ending June 2023 against consolidated net profit of Rs 12.38 crore. Revenue of the company rose 28% from Rs 1,094.59 crore in Q1 to Rs 1,401.81 crore during the quarter ending June 2023. 

Punjab and Sind Bank  

Public sector lender Punjab & Sind Bank reported a 25 per cent decline in net profit to Rs 153 crore for the June 2023 quarter, partly due to the provision of wage revision and fresh slippages. The lender had reported a net profit of Rs 205 crore in the April-June quarter of 2022-23. The total income increased to Rs 2,494 crore in the first quarter of 2023-24 against Rs 1,915 crore a year ago, as per a regulatory filing. 

Delta Corp 

Hardik Dhebar, Chief Financial Officer of Delta Corp Ltd on Friday announced his resignation to take on new professional challenges, informed the company in its statement.  Dhebar who was part of the company for the past 15 years will also cease his role as a 'Key Managerial Personnel' after his resignation. 

SBI  

State Bank of India plans to sell over Rs 96000 crore distressed loans to asset reconstruction companies in a fresh attempt to clean its books. 

Karur Vysya Bank 

 Shares of Karur Vysya Bank will turn ex-dividend on August 7, 2023. The bank has declared interim dividend of Rs 2 per share. 

BHEL 

Bharat Heavy Electricals Limited (BHEL) reported a widening of consolidated loss at Rs 343.89 crore for the June quarter compared with Rs 187.99 crore loss in the same quarter last year. BHEL had logged a profit of Rs 611 crore in the March quarter. 

SBI 

State Bank of India (SBI) reported a 178.24 per cent year-on-year (YoY) rise in standalone net profit at Rs 16,884.29 crore for the June quarter compared with Rs 6,068.08 crore in the same quarter last year. This was the record net profit for the fourth quarter in a row. 

M&M 

Mahindra & Mahindra (M&M) reported a 60 per cent year-on-year (YoY) rise in net profit to Rs 3,508.41 crore for the June quarter compared with Rs 2,195.54 crore in the corresponding quarter last year. Revenue from operations jumped 17.57 per cent YoY to Rs 33,406.44 crore for the June quarter compared with 28,412.38 in the corresponding quarter last year. 

Also read: Karur Vysya Bank, RITES, Saksoft, Gabriel India shares to turn ex-dividend today

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