The Singapore Exchange's Nifty futures traded 50.5 points, or 0.31 percent, higher at 16,110.50, indicating that Dalal Street was likely to have a successful start on Wednesday. The headline index continued to correct later in the day during the last session due to negative global cues and a lack of purchasing in heavyweights, and the Nifty concluded the day over 16,050 with a loss of almost 1%. The Indian rupee dropped 15 paise to an all-time low of 79.60 against the US dollar, dampening market sentiment.
Among the businesses announcing their quarterly earnings today are Mindtree, Tata Metaliks, Rajnandini Metal, Global Education, Premier Polyfilm, International Travel House, Gujarat Hotels, and Ramasigns Industries.
Stocks to Watch Today
Sterling and Wilson Renewable Energy
On Tuesday, Sterling and Wilson Renewable Energy announced that its combined net loss for the three months ended June 30 had grown to Rs 355.99 crore, primarily due to higher input costs. The company reported a net loss of Rs 76.02 crore for the April through June fiscal year (FY) 2021–22, according to a BSE filing.
According to the private lender, Rakesh Makhija has been reappointed as the non-executive chairman through October 2023 with RBI approval. Makhija has been reappointed as the non-executive (part-time) chairman of the bank, effective from July 18 through October 26. This was authorized by the RBI in a letter dated July 12th.
The price of lump ore and fines has been reduced by Rs 500 a tonne by the largest iron ore producer in the nation. The business, which is also the mineral's top seller, but the pricing into effect on Tuesday.
HCL Technologies stated on Tuesday that its consolidated net profit increased by 2.4% from the same quarter last year to Rs 3,283 crore, or Rs 3,205 crore. In comparison to the same quarter in the previous year, revenue for the quarter increased 16.92% YoY to Rs 23,464 crore from Rs 20,068 crore.
Anand Rathi Wealth
Anand Rathi Wealth, a leading non-bank wealth solutions provider, announced a 33.6 percent increase in earnings after tax for the three months ended in June 2022, coming in at Rs 39.7 crore. Anand Rathi Wealth, a division of Mumbai-based financial services conglomerate Anand Rathi, stated in a statement that the company had a Profit After Tax (PAT) of Rs 29.7 crore in the same quarter of the previous fiscal.
In the June quarter, Delta Corp reports a profit of Rs. 57.13 crores. In comparison to a loss of Rs 28.93 crore during the same period last year, the casino gaming company declared a profit of Rs 57.13 crore for the quarter ending in June. From Rs 75.87 crore in the low base comparable quarter of the previous fiscal, which was hurt by the second Covid wave, revenue increased dramatically to Rs 250.3 crore in the quarter under review.
The CARE Ratings Ltd. Board of Directors will discuss a proposal for the buyback of equity shares of the company at its meeting on July 20, 2022.
The Bengaluru branch of Shilpa Medicare receives a UK GMP certificate. For its Bengaluru Unit VI, the company has secured a GMP (good manufacturing procedure) certificate from the UK authority. The establishment produces and tests specialized dosage forms.
Kirloskar Electric Company
The managing director is appointed by Kirloskar Electric Company. According to the corporation, the board has chosen Mahabaleshwar Bhat as company secretary and compliance officer, Anand Balaramacharya Hunnur as managing director, and Ravi Ghai as an additional director (independent director).