The Indian market is likely to open higher Tuesday following gains in global markets. At 8:05 am, the SGX Nifty was trading 79.80 points or 0.71 percent higher at 11,373.80, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. ICICI Bank: The bank has set the floor price at Rs 351.36 per equity share for its QIP which opened on August 10. A decision on the final issue price and allotment will be taken on August 14.
2. Bank of Baroda: The state-run lender reported Q1FY21 loss at Rs 864.3 crore as against a profit of Rs 709.6 crore, YoY. Net interest income (NII) rose 4.91 percent to Rs 6,816 crore from Rs 6,497 crore, YoY. Asset quality improved marginally. The bank has also reduced overnight MCLR by 15 bps to 7 percent w.e.f. August 12.
3. Titan Company: The company posted net loss of Rs 270 crore in Q1FY21 as against a profit of Rs 371 crore in the year-ago period. Revenue declined 62.3 percent to Rs 1,862 crore from Rs 4,939 crore, YoY. The company reported an EBITDA loss of Rs 246 crore in Q1FY21 as against EBITDA gain of Rs 565 crore in Q1FY20.
4. Kotak Mahindra Bank: The private sector lender said it has achieved compliance with the RBI norms in respect of dilution of promoter Uday Kotak’s shareholding. The bank was required to bring down the promoter’s shareholding to 26 percent.
5. PowerGrid Corporation: The company’s net profit in Q1FY21 fell 18.5 percent to Rs 1,978.9 crore from Rs 2,427.9 crore while revenue declined 2.1 percent to Rs 8,988.7 crore from Rs 8,804.1 crore, YoY. EBITDA fell 0.3 percent to Rs 7,877 crore from Rs 7,897.3 crore while EBITDA margin contracted by 210 bps to 87.6 percent, YoY.
6. InterGlobe Aviation: The company’s board approved raising funds up to Rs 4,000 crore via issue of equity shares by way of a qualified institutional placement (QIP).
7. Shree Cement: The company’s net profit in Q1FY21 rose to Rs 370.8 crore from Rs 363 crore while revenue fell to Rs 2,325.8 crore from Rs 3,036.41 crore, YoY.
8. Cupid: The company has received USFDA approval for additional four variants of the company’s male contraceptives to market them in US.
9. Triveni Engineering: The company will buy back up to 61.9 lakh shares at Rs 105 per share via the tender offer route.
10. Sonata Software: The company’s Q1FY21 profit fell to Rs 49.9 crore from Rs 61.8 crore while revenue increased to Rs 952.4 crore from Rs 928.7 crore, QoQ.