The Indian market is likely to open higher Wednesday amid mixed trend in Asian peers as investors await the US Federal Reserve’s interest rate decision. At 7:55 am, the SGX Nifty was trading 34.50 points or 0.31 percent higher at 11,319.00, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. IndusInd Bank: The bank’s standalone profit in Q1FY21 declined to Rs 460.64 crore from Rs 1,432.5 crore while net interest income grew by 16.4 percent to Rs 3,309.2 crore, YoY. Gross NPA ratio rose 8 bps to 2.53 percent, while net NPA ratio fell 5 bps to 0.86 percent, sequentially. Provisions and contingencies increased five-fold to Rs 2,258.9 crore from Rs 430.6 crore, YoY, due to COVID-19 related provisions. The bank’s board approved raising funds via preferential issue worth Rs 3,288 crore.
2. Nestle India: The company’s net profit in April-June quarter rose 11.1 percent to Rs 486.6 crore from Rs 437.8 crore while revenue increased 1.48 percent to Rs 3,050.48 crore from Rs 3,000.8 crore, YoY.
3. Yes Bank: The bank reported 60.1 percent YoY fall in standalone net profit at Rs 45.44 crore for Q1FY21 as against Rs 113.76 crore in the same quarter last fiscal. NII declined 16.3 percent to Rs 1,908.2 crore from Rs 2,280.6 crore, YoY. Gross NPA increased to 17.30 percent against 16.80 percent while net NPA fell to 4.96 percent from 5.03 percent, QoQ. The bank created total provisions for Q1FY21 at Rs 1,087 crore, consisting of Rs 642 crore of COVID-19 related provisioning.
4. Hexaware Technologies: The company’s net profit in the quarter ended June fell 13 percent to Rs 152.4 crore from 174.9 crore while revenue rose 1.8 percent to Rs 1,569.1 crore from Rs 1,541.7 crore, QoQ. Dollar revenue fell 1.2 percent to $208 million from $210.6 million, sequentially. EBIT rose 14.2 percent to Rs 207.6 crore from Rs 181.8 crore and EBIT margin improved to 13.2 percent from 11.8 percent, QoQ.
5. RBL Bank: The bank’s net profit in Q1FY21 fell 47.1 percent to Rs 141.2 crore from Rs 267.05 crore while net interest income rose 27.4 percent to Rs 1,041.3 crore from Rs 817.32 crore, YoY.
6. Adani Ports and SEZ: The Finance Committee of the company has approved the issuance of fixed rate senior unsecured notes aggregating to $750 million.
7. NIIT Technologies: The company’s net profit in Q1FY21 fell 29.7 percent to Rs 79.9 crore from Rs 113.6 crore while revenue declined 4.7 percent to Rs 1,057 crore from Rs 1,109.3 crore, QoQ. EBIT decreased 20.7 percent to Rs 123 crore from Rs 155.7 crore while EBIT margin contracted by 230 bps to 11.6 percent, QoQ.
8. Castrol India: The company reported 64.2 percent fall in net profit for the quarter ended June 2020 at Rs 65.4 crore as against Rs 182.7 crore in the year-ago period. Revenue declined 52.8 percent to Rs 490.6 crore from Rs 1,039.6 crore, YoY.
9. IDBI Bank: The bank reported a net profit of Rs 144.3 crore in Q1FY21 as against a loss of Rs 3,800.8 crore in the year-ago period. Net interest income rose 21.65 percent to Rs 1,773.4 crore from Rs 1,457.73 crore, YoY.
10. Sunteck Realty:
The company’s net profit in Q1FY21 fell to Rs 3.06 crore from Rs 36.20 crore while revenue declined to Rs 60.7 crore from Rs 178.2 crore, YoY. Pre-sales (new bookings) stood at Rs 101.2 crore as against Rs 185.8 crore, YoY.