Stocks in the news: Wipro, IndusInd Bank, SRF, Havells, NTPC and Yes Bank

Hindustan Zinc, SRF, MphasiS: Hindustan Zinc, SRF, MphasiS, JSW Energy, IDBI Bank,

, Crisil, , , Hitachi Energy (India), , , PVR, Cyient and Can Fin Homes are among the companies that will announce their earnings for the quarter ended June 2022.

Wipro: The IT major reported a 21 per cent decline in its June quarter net profit as higher employee-related costs pushed up the firm’s overall expenses. Consolidated net profit at Rs 2,563.6 crore in April-June was 20.6 per cent, lower than Rs 3,242.6 crore net profit in the same period a year back.

NTPC: The state-owned power giant has inked a pact with Moroccan Agency for Sustainable Energy (MASEN) for cooperation in renewable energy. It signed an MoU with MASEN for cooperation in the renewable energy sector during the 17th CII EXIM Conclave on India Africa Growth Partnership held in New Delhi from 19th-20th July 2022.

IndusInd Bank
: The private lender reported a 60 per cent rise in its first quarter consolidated net profit to Rs 1,631 crore on lower provisioning for bad assets. The Hindujas-promoted lender had reported a net profit of Rs 1,016 crore for the April-June period in the preceding fiscal.


Havells India: The consumer electrical goods maker reported an increase of 3.13 per cent in consolidated net profit to Rs 243.16 crore for the June quarter as margins were adversely impacted due to commodity cost fluctuation. The company had posted a consolidated net profit of Rs 235.78 crore in the April-June quarter a year ago.


Yes Bank: Former RBI Deputy Governor R Gandhi and professor Ananth Narayan Gopalakrishnan have ceased to be additional directors on the board of Yes Bank following a new board in place. The move follows the RBI’s directive to the bank dated July 20, 2022.

Gland Pharma: The pharma company recorded a 35 per cent decline in profit at Rs 229.2 crore for the quarter ended June 2022 on lower topline growth and weak operating performance. Revenue plunged by 26 per cent YoY to Rs 856.9 crore during the quarter, impacted by continuing supply disruptions in the midst of challenging macro environment.

CEAT: The tyre maker reported a 61 per cent decline in its consolidated net profit at Rs 9 crore for the June quarter as high raw material prices impacted business. The Mumbai-headquartered company had posted a net profit of Rs 23 crore in the corresponding period of last year.

AU Bank: The small finance lender reported a 32 per cent year-on-year growth in net income to Rs 268 crore in the June quarter on better asset quality and higher loan sales that grew more than fourfold. The biggest boost to the bottom line has come from a massive improvement in the asset quality with gross steeply falling to 1.96 per cent.

Syngene International: The contract manufacturing services firm reported a 4 per cent decline in profit after tax to Rs 74 crore for the first quarter ended June 2022. The company had posted a PAT of Rs 77 crore in the April-June quarter of last fiscal.


(India): The plywood and laminates player posted a whopping 184 per cent increase in net profit to Rs 96.47 crore for the first quarter of the current fiscal, amid inflationary pressure. The profit after tax was Rs 33.89 crore in the corresponding period last year.

Newgen Software Technologies: The IT company posted about an 11 per cent decline in consolidated profit to Rs 19.17 crore for the first quarter ended June 2022. The company had posted a profit of Rs 21.6 crore in the same period a year ago.

Hatsun Agro Products: The Dairy products maker has crossed the Rs 2,000 crore sales mark during the quarter ending June 30, 2022 for the first time. The company reported revenues of Rs 2,014.60 crore for the quarter ending Jun 30, 2022 as against Rs 1,538.78 crore registered during corresponding quarter previous year.

Strides Pharma Science: The homegrown drug maker said its board will meet next week to consider raising funds through issuance of securities. The Bengaluru-based company did not share details of the amount proposed to be raised.

Tata Communications: The telecom firm posted an increase of 83.63 per cent in consolidated profit to Rs 543.76 crore in the June quarter. The company had reported a profit of Rs 296.11 crore in the same period a year ago.

Shriram Properties: The real estate firm reported a 26 per cent growth in its sales bookings at Rs 313 crore for the June quarter on better demand and low base effect. It said that its sales bookings in volume terms rose 20 per cent to 0.66 million square feet in the first quarter of 2022-23 fiscal from 0.55 million square feet in the year-ago period.

Hathway Cable & Datacom: The cable and broadcasting firm reported a 57.09 per cent decline in its consolidated net profit to Rs 20.97 crore for the first quarter ended June 2022. The company had posted a net profit of Rs 48.88 crore in the April-June period a year ago.

Ador Welding: The electrodes company has received a Letter of Award (LOA), from ONGC, Uran. The order includes design, engineering, supply, erection in brief & commissioning of demountable flare stack project on LSTK basis at their ONGC’s Uran plant. The order is worth Rs 145 crore and is going to be executed within 30 months.

Future Retail: The National Company Law Tribunal ordered initiating insolvency resolution proceedings against the debt-ridden

while dismissing objections raised by e-commerce major Amazon. The petition seeking insolvency resolution proceedings against the company was filed by Bank of India following loan defaults.

SecureKloud Technologies: The cloud-native company has unveiled artificial intelligence powered data analytics platform ‘DataEdge’ which can be deployed easily with zero development time. DataEdge is an easy to use zero-code platform that allows users to process even the most complex queries in minutes rather than days.

Rane Engine Valve: The Rane Group of Companies, has reported a net loss at Rs 3.1 crore for the quarter ending June 30, 2022. The city-based manufacturer of engine valves, guides and tappets, reported net loss at Rs 5.8 crore during corresponding quarter previous year.

McNally Bharat Engineering: The singareni collieries company is directed by Arbitral Tribunal to pay Rs 242.07 crore to McNally within one month from the date of the Award.