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Stocks to Watch Today: Reliance, ITC, Zomato, Union Bank of India, UPL

02 Aug , 2022   By : Kanchan Joshi


Stocks to Watch Today: Reliance, ITC, Zomato, Union Bank of India, UPL

Here is the list of top 10 stocks that will be in focus today


Reliance Industries: India's biggest ever auction of telecom spectrum received a record Rs1.5 lakh crore of bids, with Mukesh Ambani's Reliance Jio cornering nearly half of all the airwaves sold with a Rs88,078 crore bid. Reliance Jio on Monday said it is gearing up to roll out an advanced 5G network to make India a global leader in digital connectivity and solutions.


ITC: ITC Ltd on Monday reported a 33.46% rise in consolidated net profit to Rs4,462.25 crore for the April-June quarter following a good performance by its business verticals. The company had posted a net profit of Rs3,343.44 crore during the April-June quarter of the previous fiscal. Its revenue from operations was up 39.25% at Rs19,831.27 crore during the quarter under review.


Zomato: Online food delivery platform Zomato on Monday said its consolidated net loss in the first quarter of the current financial year almost halved to Rs186 crore due to higher income. The company had reported a net loss of Rs360.7 crore in the year-ago period. During the quarter under review, the company's total income rose to Rs1,582 crore against Rs916.6 crore in the corresponding period of last year.


Union Bank of India: Union Bank of India expects to recover rs15,000 crore from bad loan accounts during the current fiscal year, and a bulk of this would come from accounts undergoing the insolvency resolution process. It expects to make recoveries worth Rs10,000 crore from accounts under the National Company Law Tribunal (NCLT) for resolution of bad loans in 2022-23, the bank said during an analysts conference call post June 2022-23 quarter earnings announcement last week.


UPL: Agrochemical major UPL Ltd on Monday reported a 34.17% rise in consolidated net profit to Rs1,005 crore for the quarter ending June 30 compared to the same period of the previous financial year. The company's consolidated net stood at Rs749 crore during the April-June quarter of 2021-22, UPL said in a BSE filing. Revenue from operations of the company during the quarter under review went up by 27.08% to Rs10,821 crore


Punjab & Sind Bank: State-owned Punjab & Sind Bank on Monday reported an 18% growth in net profit at Rs205 crore in the April-June quarter of FY23, helped by a decline in bad loans. The bank had posted a net profit of Rs174 crore in the year-ago quarter. Sequentially, it had registered a net profit of Rs346 crore in the January-March 2022 quarter. The total income of the bank during the reporting quarter declined to Rs1,91,547 crore from Rs2,03,961 crore recorded in the same quarter of FY21


Eveready Industries: Battery and flashlights maker Eveready Industries India Ltd on Monday reported a decline of 27.48% in its consolidated net profit at Rs21.85 crore for the quarter ended June 30, 2022. The company had posted a net profit of Rs30.13 crore in the April-June period a year ago. Its revenue from operations was up 18.87% to Rs335.38 crore during the quarter under review as against Rs282.14 crore in the year-ago period.


Castrol India: Lubes maker Castrol India on Monday reported a 47% growth in profit after tax at Rs206.26 crore in the June quarter. The company had recorded a Profit After Tax (PAT) at Rs140 crore in the second quarter of 2021, Castrol India said in a statement. Castrol India follows January-December as its financial year.


Varun Beverages: Fenton Investments and Arvind Singhania on Monday settled with markets regulator Sebi a case pertaining to alleged insider trading in the shares of Varun Beverages after paying Rs63 lakh. The two applicants proposed to settle the alleged violations of insider trading rules "without admitting or denying the findings" through a settlement order. The two applicants allegedly violated the provisions of the insider trading rules.


Kansai Nerolac Paints: Kansai Nerolac Paints Ltd on Monday reported a 36.51% increase in its consolidated net profit to Rs152.05 crore for the first quarter ended June 30, 2022. The company had posted a net profit of Rs111.38 crore in the April-June period a year ago, Kansai Nerolac said in a BSE filing. Its revenue from operations rose 46.23% to Rs2,051.37 crore from Rs1,402.76 crore in the year-ago quarter.









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