Airtel, HCL, Delivery, IGL, TechM, and Tata Chemicals are stocks to keep an eye on today

As they release their June quarter profits today, IRCTC, SAIL, Abbott, Coal India, Glenmark, Eicher Motors, and Tata Consumer will be in the spotlight.

Advertisement

Here are the top 10 stocks that will be the focus of today’s attention:

Bharti Airtel: Telecom operator Bharti Airtel announced on Monday that its consolidated profit for the quarter ending in June 2022 increased by more than five times, to ₹1,607 crore, primarily as a result of an increase in rates. In the same time one year prior, the company had reported a profit of ₹283.5 crore. Bharti Airtel’s overall revenue from operations climbed by roughly 22% to ₹32,805 crores during the reported quarter from ₹26,854 crores the previous quarter.

HCL: On Tuesday, the IT firm HCL Infosystems reported a combined loss of ₹9.97 crore for the three months that ended on June 30, 2022. In the identical time a year prior, the company had made a profit of ₹40.79 crore. HCL Infosystems’ combined operating revenue dropped from ₹27.61 crore in the same quarter last year to ₹9.12 crore in the current quarter, a 67% decrease.

Delhivery: During the first quarter of 2022, which ended in June, Delhivery Ltd.’s total net loss increased to ₹399 crore from ₹129.6 crore the year prior. The company’s revenue increased by more than 32% year over year to ₹1,745.7 crore from ₹1,317.7 crore (YoY). As opposed to an adjusted EBITDA loss of ₹58 crore (proforma) in QIFY22, the company saw a loss of ₹217 crore in QIFY23.

IGL: On Tuesday, Indraprastha Gas Ltd, the company that sells compressed natural gas (CNG) and piped cooking gas in the capital, reported a 72% increase in the June quarter net profit due to an increase in sales volume. The company reported a net profit of ₹420.86 crore in April through June, up from ₹244.29 crore in the equivalent quarter of the previous year.

Tata Chemicals: On Tuesday, Tata Chemicals announced an increase in total net profit of 86.25% to ₹637 crore for the quarter ended in June. In the equivalent quarter of the prior fiscal year, the company’s net profit was ₹342 crore, according to a regulatory filing by Tata Chemicals. When compared to the same quarter last fiscal year, the company’s operating revenue increased by 34.15% to ₹3,995 crore during the quarter under review.

Tech Mahindra: On Monday, Tech Mahindra announced that it has paid around ₹30 crore to acquire the full shares in its two South African joint ventures, Tech Mahindra South (Pty) Limited and Tech Mahindra Holdco Pty Ltd. According to a BSE filing, the business would buy its joint venture partner Falcorp Technologies’ 49% investment in Tech Mahindra South (Pty) and 4% stake in Mahindra Holdco Pty Ltd.

JK Tyre: The largest manufacturer of tyres in India, JK Tyre & Industries Ltd (JK Tyre), reported Monday that its revenue increased 39% from the same period last year to ₹3,650 crore. For the first quarter of 2022–23, the company’s EBIDTA totaled ₹291 crore. For the reviewed quarter, the company’s profit before tax was ₹57 crore.

HFCL: On Monday, the domestic manufacturer of telecom equipment HFCL Limited announced that it has reached a deal with Qualcomm Technologies for the creation and advancement of fixed wireless access products for 5G millimetre wave internet services. Reliance Jio, Bharti Airtel, Vodafone Idea, and Adani Data Networks, the four bidders in the recently ended spectrum auction, have all acquired spectrum in the millimetre wave band, or the 26 gigahertz frequency range. While the mmWave can send signals at great speeds, it only has a relatively limited range.

Power Grid: On Monday, the government-owned Power Grid Corporation of India (PGCIL) reported a 36% decrease in its consolidated net profit for the April–June quarter of FY23. According to a BSE report, the company’s combined net profit for the three months ended June 30, 2021, was ₹5,998.28 crore. In the quarter under review, the company’s overall revenue grew to ₹11,168.54 crore from ₹10,391.61 crore during the same period last year.

Torrent Power: On Monday, Torrent Power announced that its shareholders had given the company permission to issue non-convertible debentures in order to raise up to ₹2,000 crore (NCDs). On the agenda of the company’s annual general meeting conducted on Monday was a proposal to raise money.