Stocks in news: Tata Motors, Bajaj Finance, Axis Bank, Delta Corp and more

Benchmark indices closed on a flat note on Tuesday. BSE Sensex fell 29.07 points, or 0.04 per cent, to settle at 66,355.71, while NSE's Nifty50 added 8.25 points, or 0.04 per cent, to end the day at 19,680.60.  

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

SBI Life Insurance 

SBI Life reported a net profit of Rs 381 crore for the quarter ended June. The net premium income of the insurer came in at Rs 13,104.09 crore, up 19 percent from Rs 11,036.02 crore in the year-ago period. SBI Life Insurance said its individual rated premium has grown to Rs 2,670 crore with 23 percent private market share in Q1FY24. 

Larsen & Toubro  

Larsen & Toubro reported a 46% YoY rise in net profit to Rs 2,493 crore in the June quarter. Revenue jumped 34% to Rs 47,882 crore. The board recommended a special dividend payout of Rs 6 a share and fixed the record date as August 2. It also cleared a share buyback worth Rs 10,000 crore through the tender offer route. 

Earnings today 

Shares of Bajaj Finance, Axis Bank, Tech Mahindra, Dr Reddy's, Cipla, Tata Consumer and BPCL are in focus as the companies will announce their first quarter results today. 

Tata Motors  

Tata Motors logged a higher-than-expected consolidated net profit of Rs 3,203 crore in Q1. Revenue from operations rose 42% to Rs 1.02 lakh crore. EBITDA for the quarter stood at Rs 14,700 crore, up 177 per cent. EBIT came in at about Rs 8,300 crore, driven by JLR and CV businesses whilst the PV business was steady. 

Delta Corp 

Delta Corp logged a net profit of Rs 68 crore for the quarter ended June 2023 against a net profit of Rs 57 crore. Revenues rose 9% to Rs 273 crore against Rs 250.3 crore in the corresponding period of the preceding fiscal. 

CEAT 

CEAT posted net profit of Rs 145 crore in the first quarter. In the corresponding quarter last year, CEAT posted a net profit of Rs 9.3 crore. In the first quarter, revenue rose 4.1% to Rs 2,935.2 crore against Rs 2,818.4 crore in the corresponding period of the preceding fiscal. 

Also read: Hot stocks on July 26, 2023: Delta Corp, Suzlon Energy, Tata Motors, Adani Green Energy and more

​​​​​​​

Cyient 

Cyient reported a 45 per cent rise, year-on-year (YoY), in its June 2023 quarter (Q1 FY24) net profit. The IT firm's consolidated profit was up 44.79 per cent to Rs 168.10 crore against Rs 116.10 crore in the year-ago period. The company's revenue from operations jumped 34.91 per cent to Rs 1,686.50 crore over Rs 1,250.10 crore in the corresponding period last year. Revenue was at Rs l,751.40 crore in Q4 FY23 (QoQ). 

Piramal Enterprises 

The Board of Piramal Enterprises will meet on July 28 to consider a share buyback proposal. 

Amber Enterprises 

Amber Enterprises' net profit rose 9% to Rs 46 crore, while revenues slipped 7% to Rs 1,702 crore. 

Also read: Suzlon Energy shares in focus after Q1 results, management commentary

Also read: Tata Motors DVRs may see a gap-up start, says Nuvama. Here's why