Stocks To Watch: SBI, ONGC, Titan, Infosys, Britannia, Ambuja Cement, BOI, And Others – News18

Stocks To Watch On August 5: Domestic markets exhibited volatility over the past week, ultimately closing marginally lower amid mixed signals. In today’s trade, shares of SBI, Airtel, ONGC, Titan, Infosys, JSW Steel, IDBI Bank among others will be in focus due to various news developments and first quarter results.

Earnings Watch: Tata Chemicals, Triveni Turbine, Schneider Electric Infrastructure, Syrma SGS Technology, V-Mart Retail, VRL Logistics, Som Distilleries and Breweries, Motherson Sumi Wiring India, ONGC, Protean eGov Technologies, Orient Cement, Paras Defence and Space Technologies, Honeywell Automation, HG Infra Engineering Ltd., Keystone Realtors, Hindustan Construction Company, Manali Petrochemicals, Bharti Hexacom, Brigade Enterprises, BEML, BLS International Services, Andhra Paper Limited, BLS E-Services, and Century Enka among others.

State Bank of India (SBI): SBI reported a 1 per cent increase in net profit to Rs 17,035.16 crore for Q1 of the current financial year. Despite this, there was a sequential decline of 17.7 per cent. The gross non-performing assets (NPA) ratio improved to 2.21 per cent as of June 30, from 2.24 per cent in March and 2.76 per cent a year ago.

Titan Ltd: The jeweller and watchmaker saw a 1 per cent drop in standalone net profit to Rs 770 crore for the June quarter, compared to Rs 777 crore a year earlier, primarily due to reduced demand from higher gold prices.

Britannia Industries: The biscuit manufacturer reported a 14.5 per cent rise in consolidated net profit to Rs 524 crore for the June quarter, up from Rs 458 crore in the same period last year.

Infosys: The Goods and Services Tax (GST) authorities have rescinded a notice demanding Rs 3,898 crore from tech giant Infosys, out of a total tax demand of Rs 32,403 crore issued last week for the five-year period beginning in 2017-18. Infosys disclosed to stock exchanges on Saturday evening that it had received a notification from the Directorate General of GST Intelligence (DGGI) indicating the closure of “the pre-show cause notice proceedings for the financial year 2017-2018.”

Ambuja Cement: The Adani Group-owned cement company announced its first major investment in Bihar with the establishment of a 6 MTPA cement grinding unit at an investment of nearly Rs 1,600 crore.

Bank of India: The lender posted a 10 per cent increase in net profit to Rs 1,702.7 crore for Q1, up from Rs 1,551 crore in the previous year’s quarter.

Amara Raja Energy & Mobility: The energy and mobility solutions provider reported a 25.6 per cent rise in consolidated profit after tax to Rs 249.12 crore for the June quarter.

Divi’s Laboratories: The pharmaceutical company saw a 21 per cent year-on-year increase in net profit to Rs 430 crore for Q1, with revenues growing 19 per cent to Rs 2,118 crore.

JK Tyre & Industries: JK Tyre reported a 37 per cent year-on-year increase in consolidated net profit to Rs 211 crore for the June quarter, up from Rs 154 crore a year ago.

Tamilnad Mercantile Bank: The bank saw a 9.97 per cent rise in net profit to Rs 287.29 crore for Q1, driven by increased interest income, compared to Rs 261.23 crore in the same quarter last year.

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