Results on July 11
5paisa Capital, Spandana Sphoorty Financial, Mishtann Foods, Nakoda Group of Industries, Sahara One Media & Entertainment, and Star Housing Finance will be in focus ahead of quarterly earnings on July 11.
Stocks in News
Tata Consultancy Services: The leading IT company reported a 16.2% year-on-year growth in revenue at Rs 52,758 crore and revenue in constant currency grew 15.5% YoY for the quarter ended June 2022. Profit during the quarter rose 5.2% YoY to Rs 9,478 crore, but operating margin at 23.1% contracted 2.4% YoY.
Dr Reddy's Laboratories: The pharma company has launched Fesoterodine Fumarate extended-release tablets in the US market, which are used in the treatment of certain bladder-related problems. This drug is a therapeutic generic equivalent to Toviaz brand which had US sales of approximately $211 million MAT for the most recent twelve months ending in May 2022, according to IQVIA.
HDFC: The Corporation has received approval from the Pension Fund Regulatory and Development Authority (PFRDA) for the merger of subsidiaries HDFC Investments Limited and HDFC Holdings Limited, with HDFC. PFRDA also approved merger of HDFC with HDFC Bank.
Zydus Lifesciences: Zydus has launched the molecule Sitagliptin in India under the brand names Sitaglyn and Siglyn to address Type 2 diabetes. Sitagliptin is the gold standard in the Dipeptidyl peptidase 4 inhibitor (DPP4i) category with over 62 percent market share in the global market.
Avenue Supermarts: The D-Mart operator has clocked a massive 490 percent year-on-year growth in standalone profit at Rs 680 crore for the quarter ended June 2022, backed by healthy topline and operating performance but on a low base as the year-ago quarter had impacted by second covid wave, while the sequential increase in profit was nearly 46 percent. Standalone revenue from operations grew by 95 percent year-on-year to Rs 9,807 crore in quarter ended June 2022, and the growth compared to previous quarter was 14 percent.
Dilip Buildcon: Subsidiary 'Bangarupalem Gudipala Highways Limited' has received the financial closure letter from the National Highways Authority of India for Bangalore-Chennai Expressway in Andhra Pradesh under Bharatmala on Hybrid Annuity Mode (Phase II/Package III). The project cost is Rs 1,060 crore. In addition, Dilip Buildcon has declared as L-1 bidder for water supply scheme tender by Madhya Pradesh Jal Nigam Maryadit, Bhopal. The said EPC project worth Rs 1,400.04 crore included trial run and operation & maintenance of the entire water supply scheme for 10 years in Madhya Pradesh.
Power Grid Corporation of India: The company is declared as the successful bidder under Tariff-based competitive bidding to establish inter-state transmission system for "transmission system for evacuation of power from Neemuch SEZ" on build, own operate and transfer (BOOT) basis. The project comprises establishment of two 400kV DIC transmission lines passing through Rajasthan and Madhya Pradesh, a new 400/220kV pooling substation at Neemuch (Madhya Pradesh) and 400kV bay extension works.
Lemon Tree Hotels: The hotel chain operator has signed a License Agreement for a 51 room hotel at Anjuna, Goa. The hotel is expected to be operational by March, 2023. Its hotel management subsidiary Carnation Hotels will be operating this hotel.
Federal Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 5.72 crore on the private sector lender for non-compliance with the provisions related to financial services provided by the bank. This action is based on the deficiencies in regulatory compliance.