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Stocks in news: Tata Motors, JSW Energy, Asian Paints, Tata Power and more

Indian market fell for the second straight session on Tuesday led by losses in IT and banking shares amid mixed global cues. Sensex closed 497 points lower at 55,268 and Nifty fell 147 points to 16,483. Infosys, Axis Bank, HUL, Dr Reddy’s, Wipro and Kotak Mahindra Bank were the top Sensex losers, falling up to 3.40 per cent.

Bajaj Finserv, Bharti Airtel and Power Grid were the top Sensex gainers, rising up to 5.58 per cent.

Share Market Live: Sensex, Nifty likely to open lower today

Here’s a look at stocks that are likely to remain in news today.

Earnings today: Bajaj Finance, Maruti Suzuki, Tata Motors, United Breweries, Colgate Palmolive, Schaeffler India, Biocon, Gujarat Fluorochemicals, CG Power and Industrial Solutions, Coromandel International and Laurus Labs among others.

Wipro: The IT major has announced a new five-year strategic engagement with Nokia, the world’s leading multinational, networking, telecommunications and consumer electronics company. The new agreement builds on a partnership originally established over 20 years ago.

Relaxo Footwears: The footwear maker logged a 24.9 per cent rise in net profit at Rs 38.67 crore in the June quarter against a profit of Rs 30.96 crore in the April-June quarter of the last financial year.

JSW Energy: The utility provider said the National Company Law Tribunal has cleared its proposal to buy Ind-Barath Energy (Utkal) Ltd which is developing a 700 MW thermal power project in Odisha. The Ind-Barath owns the 700 MW under-construction thermal power plant.

South Indian Bank: The private sector lender’s standalone net profit jumped manifold to Rs 115.35 crore in June 2022 quarter as lower bad loans reduced provisioning requirement. The lender had posted a net profit of Rs 10.31 crore in the year-ago quarter ended in June 2021.

Bajaj Auto: The firm reported a marginal decline in consolidated net profit at Rs 1,163 crore for June quarter against a net profit of Rs 1,170 in April-June period a year ago.

Asian Paints:  Net profit rose 79.04 per cent in consolidated net profit at Rs 1,1017 crore for the quarter ended June 30, 2022  against a net profit of Rs 568.50 crore in the year-ago period.

Tata Power: The firm reported a 103 per cent year-on-year (YoY) rise in consolidated net profit at Rs 795 crore in Q1 against Rs 391 crore in the year-ago period. With this, the company has posted consecutive quarter of profit after tax (PAT) growth.

United Spirits: The firm reported over five-fold jump in its consolidated net profit to Rs 261.1 crore for the first quarter ended on June 30, 2022 against Rs 50.3 crore in the April-June quarter a year ago.

Larsen & Toubro: The firm reported a net profit of Rs 1,702 crore, up 45 per cent year-on-year, for the quarter ended 30 June, 2022, boosted by strong growth in infrastructure segment. The company had posted a net profit of Rs 1,174 crore in the year-ago period.

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