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Stocks to Watch Today: SBI, BPCL, Paytm, Tata Motors, Shipping Corp

08 Aug , 2022   By : Kanchan Joshi


Stocks to Watch Today: SBI, BPCL, Paytm, Tata Motors, Shipping Corp

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


State Bank of India: Beating the street estimates by a huge margin, the State Bank of India (SBI) has reported a year-on-year (YoY) dip of 6.7% in net profit to Rs6,068 crore in Q1FY23 against Rs6.504 core in Q1FY22. India's largest commercial bank has reported a rise in its net interest income (NII) from Rs27,638 crore in Q1FY22 to Rs31,196 crore in Q1FY23, logging a near 12.87% rise on a YoY basis. SBI shared these Q1 earnings while announcing its Q1FY23 results on Saturday.


BPCL: Bharat Petroleum Corporation Ltd (BPCL) on Saturday reported a net loss of Rs6,291 crore in the first quarter of the current fiscal on holding fuel prices despite a rise in cost. Net loss of Rs6,290.8 crore in April-June compared with Rs3,192.58 crore in the same period a year back, the company said in a statement. Revenue from operations rose to Rs1.38 lakh crore from Rs89,688.98 crore in April-June 2021.


One97 Communications: Digital financial services firm One97 Communications, which operates under the Paytm brand, on Friday said its consolidated loss widened to Rs644.4 crore in the first quarter ended June 30. The company had recorded a net loss of Rs380.2 crore a year ago. Paytm said its contribution profit, which excludes taxes and marketing expenses but includes promotional incentives, grew over three-fold to Rs726 crore in June 2022 quarter from Rs245 crore in the year-ago period.


Marico: FMCG firm Marico Ltd on Saturday reported a 3.28% increase in its consolidated net profit to Rs377 crore for the first quarter ended June. The company had posted a net profit of Rs365 crore in the April-June period a year ago, Marico said in a BSE filing. Its revenue from operations rose marginally by 1.3% to Rs2,558 crore, as against Rs2,525 crore in the corresponding quarter of the previous year.


Tata Motors: Tata Motors on Sunday said its subsidiary has inked a pact to acquire Ford India's Sanand-based manufacturing plant for Rs725.7 crore. Tata Passenger Electric Mobility Ltd (TPEML), a subsidiary of Tata Motors and Ford India Pvt Ltd (FIPL), have signed a Unit Transfer Agreement (UTA) for the acquisition of the Gujarat-based plant. As part of the deal, Tata Motors will get entire land and buildings, vehicle manufacturing plant along with machinery and equipment situated therein, the Mumbai-based auto major said in a statement.


Shipping Corporation: State-owned Shipping Corporation of India Ltd (SCI) on Friday reported a 27.97?cline in consolidated net profit to Rs114.17 crore for the first quarter of this fiscal. The company had clocked a consolidated net profit of Rs158.51 crore in the corresponding period a year earlier, it said in a regulatory filing. Its total income rose to Rs1,500.53 crore in the latest June quarter against Rs1,048.47 crore in the year-ago period.


Godrej Properties: Godrej Properties is looking to add new housing projects worth about Rs15,000 crore this fiscal year by purchasing land outright and by forming joint ventures with landowners. Mumbai-based Godrej Properties Ltd (GPL), part of the business conglomerate Godrej Group, is one of the leading real estate developers in the country. The company's sales bookings jumped five-fold to Rs2,520 crore during the April-June period -- highest ever first quarterly sales.


Crompton Greaves Consumer Electricals: A promoter entity of Crompton Greaves Consumer Electricals Ltd on Friday offloaded the firm's shares worth Rs751 crore through an open market transaction. Those who picked up the shares of the Mumbai-based home appliances company were Copthall Mauritius Investment Ltd and Ghisallo Master Fund LP. Macritchie Investments Pte Ltd sold 2,02,50,000 shares, amounting to a 3.2% stake in the company.


Power Grid: State-owned Power Grid Corporation of India (PGCIL) will seek shareholders' approval on August 29 to raise up to Rs6,000 crore through the issuance of bonds during the financial year 2023-24. The proposal to raise funds up to Rs6,000 crore, from the domestic market through the issuance of bonds, under a private placement basis, during the financial year 2023-24, in up to twenty tranches/offers, is listed on the agenda of the annual general meeting (AGM) on August 29, 2022.


Indian Overseas Bank: State-owned Indian Overseas Bank (IOB) on Saturday posted a 20% rise in net profit to Rs392 crore for the first quarter of the current financial year, helped by a decline in bad loans. The Chennai-based lender had reported a net profit of Rs327 crore in the April-June quarter of 2021-22. The bank's total income declined to Rs5,028 crore in the first quarter of 2022-23, as against Rs5,607 crore in the same period a year ago.





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