Indian benchmark indices are likely to open higher today as SGX Nifty rose 22 points or 0.14 per cent to 16,282.
On Wednesday, the benchmark indices closed at record highs for the second consecutive session as banking stocks rose, buoyed by a rally post SBI’s Q1 earnings.
Sensex ended 546 points higher at 54,369 and Nifty climbed 128 points to 16,258. Top Sensex gainers were HDFC, Kotak Bank, ICICI Bank and SBI, rising up to 4.77%.
Here’s a look at stocks, which are likely to remain in news today.
SBI: The lender posted a 55 per cent rise in standalone net profit at Rs 6,504 crore, led by a decline in bad loans. SBI reported a net profit of Rs 4,189.34 crore in the April-June quarter of 2020-21.
Total income rose to Rs 77,347.17 crore in Q1 against Rs 74,457.86 crore in the same period a year ago.
Vodafone Idea: Kumar Mangalam Birla has stepped down from the position of non-executive director and non-executive chairman of Vodafone Idea Ltd.
In an exchange filing, the telecom company said its board has accepted the request of Birla to step down as non-executive director and non-executive chairman with effect from close of business hours on August 4, 2021.
Reliance Industries: Reliance Industries Ltd (RIL) on Wednesday said it will double its PET recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh.
As part of this, plastic recycling and waste management company Srichakra Ecotex India Pvt Ltd will build and operate exclusively for RIL the new recycled PSF – Recron GreenGold and PET flakes wash-line in Andhra Pradesh.
HPCL: Hindustan Petroleum Corporation Ltd on Wednesday reported a 36 per cent drop in its June quarter net profit after one of its two oil refineries took a maintenance shutdown, reducing crude oil processing.
Net profit in April-June fell to Rs 1,795 crore from Rs 2,183.83 crore in the same period a year back and Rs 3,017.96 crore in the preceding quarter.
Apollo Tyres: The tyre major posted a consolidated net profit of Rs 128 crore for the first quarter ended June 30. The company had reported a net loss of Rs 135 crore in the April-June period of last fiscal.
Titan: The Tata group firm reported a consolidated profit of Rs 18 crore for the June quarter, helped by higher income. The company had reported a net loss of Rs 297 crore in the corresponding period of the preceding fiscal.
Adani Green Energy: The company posted nearly 10-fold jump in its consolidated net profit at Rs 219 crore for the June quarter, compared to the year-ago period, mainly on the back of higher revenues.
The consolidated net profit of the firm was Rs 22 crore in the quarter ended June 30, 2020, the company said in a regulatory filing.
