Tata Steel Share Price: Stocks in the News: Axis Bank, Tata Steel, Bajaj Finserv, L&T, TechM and Telecom Operators

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Nifty futures on the Singapore Stock Exchange traded 27 points or 0.16% lower at 16,591.5, signaling that Dalal Street was heading for a negative start on Tuesday. Here are a dozen stocks that could buzz the most in today’s trading:

Asian paintings, L&T, Bajaj Auto: Asian paintings, Larsen & Toubro, Bajaj Auto,

United Spirits, , , Sanofi India, , KEI Industries, India Grid Trust, SIS, Symphony and UTI Asset Management are among the companies that will announce their results for the quarter ending June 2022.

Tata Steel: The major domestic steelmaker reported a 21% drop in its consolidated net profit to Rs 7,714 crore for the April-June quarter due to higher material costs and financial costs. The company had reported a net profit of Rs 9,768 crore in the same period of 2021-22.

Tech Mahindra: The software exporter reported a 16.4% decline in the June net quarter to Rs 1,132 crore as its profit margins narrowed due to a host of factors. The Mahindra Group company, which is the fifth largest IT exporter in the country, had recorded a net profit of Rs 1,353 crore in the previous year period.


Axis Bank:
The third-largest private sector lender reported an 86% increase in its June consolidated net quarter to Rs 4,380.59 crore, helped by a sharp drop in the amount set aside for bad debts. On a stand-alone basis, it recorded a 91% increase in net profit to Rs 4,125.26 crore.


Bajaj Finserv:
The financial company’s board of directors will consider the proposal to split the company’s shares. Through a stock split, a company increases its number of outstanding shares while reducing the price of each share without affecting the company’s overall market capitalization. It will also examine the proposal to issue free shares.


Mahindra and Mahindra:
The local automotive major has partnered with Visteon Corporation to deliver an immersive in-car experience in its all-new Scorpio-N SUV. The Scorpio-N features a 7-inch color information display and an 8-inch infotainment system with navigation.

Telecoms: The 5G spectrum auction will kick off on Tuesday with four players including Reliance Jio and Bharti Airtel set to bid for 72 GHz of radio waves worth Rs 4.3 lakh crore. The bidding process is due to begin Tuesday from 10 a.m. and continue until 6 p.m.

Sun Pharma: The Life Insurance Corporation said it reduced its stake in the drugmaker by selling a 2% stake in the company for around Rs 3,882 crore. The shares were sold in open market transactions during the period from May 17, 2021 to July 22, 2022.

Macrotech Developers: The real estate company announced a 68% increase in its consolidated net profit to Rs 270.80 crore for the June quarter on the back of better sales. The net profit of the company stood at Rs 160.91 crore in the prior year period.


Lupine:
The pharmaceutical company said it has received approval from the US health regulator to market generic drugs to treat high blood pressure. The Mumbai-based company said it has received US Food and Drug Administration (FDA) approval to market azilsartan medoxomil tablets.

Indian Power Exchange: The energy exchange recorded an increase of more than 11% in its consolidated net profit to Rs 69.12 crore in the June quarter compared to the year-ago period on the back of higher revenues. The company’s consolidated net profit was Rs 62.10 crore in the quarter ended June 30, 2021.

Jindal stainless steel: The steelmaker announced an increase of around 8% in its consolidated net profit to Rs 329.37 crore in the April-June quarter on the back of higher revenues. The company made a net profit of Rs 305.84 crore during the same period of 2021-22.


GlaxoSmithKline Pharmaceuticals:
The drugmaker said its consolidated net profit rose 8% to Rs 116 crore in the first quarter ended June 30, 2022. The pharmaceutical company had reported a net profit of Rs 107 crore in the quarter of April to June of the previous year. .

Textiles and industries of the century: The AV Group company Birla reported a 78% increase in net profit to Rs 63 crore on the back of robust first quarter sales. The company, which is mainly engaged in textiles, pulp and paper and real estate, said its sales reached Rs 1,170 crore, up 41% from the year-ago period.

Canara Bank: The public lender reported a 72% increase in its after-tax autonomous profit to Rs 2,022 crore in the April-June quarter of FY23, helped by healthy credit and revenue growth. ‘interests. In the corresponding quarter of the prior fiscal year, its standalone after-tax (PAT) profit stood at Rs 1,177 crore.

Anupam Rasayan: The chemicals maker recorded a 25.56% rise in its consolidated net profit to Rs 39.69 crore in the first quarter of FY2022-23 on higher revenues. The company had posted a net profit of Rs 32.12 crore in the same quarter of the previous year.


Electric East:
The CK Birla Group company announced a threefold increase in net profit to Rs 18.95 crore for the first quarter ended June 30, 2022. The company had posted a net profit of Rs 5.01 crore in the April-June quarter of the last fiscal year.

Kamdhenu: The TMT bar maker’s net profit before tax (PBT) from the steel business edged up to Rs 13.5 crore in the April-June 2022-23 quarter from Rs 13.3 crore it a year ago. Total revenue increased by 70% to Rs 191.2 crore in April-June FY23 from Rs 112.7 crore in the prior year quarter.

Sonata software: The small-cap IT player said the board had approved a free issue of one share for every three shares held by the company’s shareholders on the record date. The free allocation of capital shares will be subject to shareholder approval.

Karur Vysia Bank: The private lender said it more than doubled its net profit to Rs 229 crore in the June quarter on the back of higher interest income and an improved interest margin. The bank had posted a net profit of Rs 109 crore in the period a year ago.

IIFL Wealth and Asset Management: The wealth management company reported a 35% growth in profit after tax to Rs 160 crore for the three months ending June 2022. In comparison, the company had posted a PAT (Profit After Tax) of Rs 119 crore as of during the same quarter of the year. previous tax.

Strides Pharma Science: The pharmaceutical player said its board had approved to raise up to Rs 150 crore through a securities issue on the basis of a private placement, up to 1,500 senior debentures, secured, rated, unlisted, redeemable and non-convertible with a face value of Rs 10 lakh each.

Emkay Global Financial Services: The stock brokerage and related services player has become the latest entity to approach capital markets regulator Sebi for a mutual fund license. It joined the list of seven entities awaiting Sebi’s approval to enter the mutual fund space.

Coffee Day Companies: The brewery said it asked its subsidiaries and a joint venture to take legal action against MACEL for the recovery of dues. In July 2020, an investigation revealed that Mysore Amalgamated Coffee Estates Limited (MACEL) owed Rs 3,535 crore to CDEL subsidiaries.

RattanIndia Power: The power utility company reported a reduction in its loss to Rs 389.30 crore in the June quarter compared to the year-ago period. The company had reported a consolidated net loss of Rs 824.42 crore during the quarter ended June 30, 2021.

Vikas Lifecare: The diversified business reported a 680% increase in net profit to Rs 2.59 crore for the quarter ended June 30, 2022. The company had recorded a net profit of Rs 0.33 crore in the same quarter a year earlier.

Dynamic cables: The power cable maker has received major approval for its debut on the National Stock Exchange (NSE). The company’s shares will be listed and admitted to trading on NSE from Wednesday 27 July.

Future Supply Chain Solutions: Future beleaguered group companies reported a net loss of Rs 624.22 crore for the fourth quarter ended March this year. The loss is mainly due to the credit loss of the group company Future Retail (FRL) which is now subject to insolvency proceedings.

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