Stocks to watch: SBI, BPCL, Paytm, Tata Motors, Shipping Corp

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

National Bank of India: Beating street estimates by a huge margin, State Bank of India (SBI) reported a 6.7% year-on-year (YoY) drop in net profit at 6,068 crores in Q1FY23 versus 6,504 cores at T1FY22. India’s largest commercial bank reported an increase in net interest income (NII) of 27,638 crores in Q1FY22 at 31,196 crores in Q1FY23, registering an increase of almost 12.87% on an annual basis. SBI shared these first quarter results while announcing its FY23 first quarter results on Saturday.

BPCL: Bharat Petroleum Corporation Ltd (BPCL) announced on Saturday a net loss of 6,291 crore in the first quarter of the current fiscal year on fuel prices holding steady despite rising costs. Net loss of 6,290.8 crore in April-June compared to 3,192.58 crores in the same period a year ago, the company said in a statement. The operational turnover amounts to 1.38 crore lakh from 89,688.98 crores in April-June 2021.

One97 communications: Digital financial services company One97 Communications, which operates under the Paytm brand, said on Friday its consolidated loss widened to 644.4 crore in the first quarter ended June 30. The company recorded a net loss of 380.2 crores a year ago. Paytm said its contribution profit, which excludes taxes and marketing expenses but includes promotional incentives, more than tripled to 726 crore in June quarter 2022 from 245 crore in the period a year ago.

Mario: FMCG Marico Ltd announced on Saturday a 3.28% increase in its consolidated net profit to 377 crores for the first quarter ended June. The company recorded a net profit of 365 crores in the April-June period a year ago, Marico said in an ESB filing. Its operating revenue rose slightly by 1.3% to 2,558 crore, vs. 2,525 crores in the corresponding quarter of the previous year.

Tata Engines: Tata Motors said on Sunday that its subsidiary had signed a pact to acquire Ford India’s manufacturing plant in Sanand for 725.7 crores. Tata Passenger Electric Mobility Ltd (TPEML), a subsidiary of Tata Motors and Ford India Pvt Ltd (FIPL), has signed a Unit Transfer Agreement (UTA) for the acquisition of the Gujarat-based plant. As part of the deal, Tata Motors will get land and entire buildings, a vehicle manufacturing plant as well as machinery and equipment therein, the Mumbai-based auto major said in a statement.

shipping company: The state-owned company Shipping Corporation of India Ltd (SCI) announced on Friday a drop of 27.97% in its consolidated net profit at 114.17 crores for the first quarter of this fiscal year. The company had recorded a consolidated net profit of 158.51 crores in the corresponding period a year earlier, it said in a regulatory filing. His total income was 1,500.53 crores in the last quarter of June against 1,048.47 crores in the prior year period.

Properties of Godrej: Godrej Properties is looking to add new housing projects worth approximately 15,000 crore this exercise by buying land and forming joint ventures with land owners. Mumbai-based Godrej Properties Ltd (GPL), part of the Godrej Group business conglomerate, is one of the country’s leading property developers. The company’s sales bookings increased fivefold to reach 2,520 crores in the April-June period – the highest first quarter sales on record.

Crompton Greaves Consumer Electrical Products: A promoter entity of Crompton Greaves Consumer Electricals Ltd sold the value of the company’s shares on Friday 751 crores via an open market transaction. Cophall Mauritius Investment Ltd and Ghisallo Master Fund LP have acquired the shares of the Mumbai-based home appliance company. Macritchie Investments Pte Ltd sold 2,02,50,000 shares, representing a 3.2% stake in the company.

Electrical network: State-owned Power Grid Corporation of India (PGCIL) will seek shareholder approval on August 29 to raise up to 6,000 crore through the issuance of bonds in the financial year 2023-24. The proposal to raise funds up to 6,000 crore, raised from the domestic market through the issuance of bonds, under a private placement, in the financial year 2023-24, in up to twenty tranches/offerings, are listed to order of the day of the Annual General Meeting (AGM) of August 29, 2022.

Overseas Indian Bank: State-owned Indian Overseas Bank (IOB) reported a 20% rise in net profit on Saturday at 392 crores for the first quarter of the current financial year, helped by a decline in bad debts. The Chennai-based lender had reported a net profit of 327 crores in the April-June 2021-22 quarter. The bank’s total income fell to 5028 crore in the first quarter of 2022-23, compared to 5,607 crores in the same period a year ago.

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