Stocks to watch: Asian Paints, Canara Bank, HUL, L&T and Torrent Pharma

Topics stocks to watch

At 08:30 am, Nifty futures on the Singapore Exchange (SGX) were trading 15 points or 0.13 per cent higher at 11,340, indicating a flat-to-positive start for the Indian market on Wednesday.  

Here's a look at some of the counters that are likely to trade actively in today's session - 

HUL: Hindustan Unilever (HUL), the country’s largest consumer goods company, on Tuesday reported its lowest volume growth in seven quarters for the April-June period (Q1FY20) on the back of moderation in consumer demand. HUL’s net profit rose 15 per cent year-on-year to Rs 1,755 crore in Q1 while revenue (net sales plus other operating income) rose 6.6 per cent over last year to Rs 10,114 crore, in line with the Rs 10,171-crore estimate.

L&T: Larsen & Toubro’s (L&T’s) net profit for the quarter ended June 30 rose 21 per cent on the back of improved performance. The company’s management maintained its guidance for the financial year, though it expects order inflow to remain volatile.

Earnings today: As many as 44 companies, including Asian Paints, Canara Bank, Jubilant Foodworks, ICICI Pru Life, Monsanto, Bharti Infratel, Liberty Shoes are scheduled to declare their June quarter results.

Torrent Pharma: Drug firm Torrent Pharmaceuticals on July 23  reported a 32.51 per cent rise in its consolidated net profit to Rs 216 crore for the quarter ended June 30, mainly on account of robust sales in most geographies.

NIIT Tech: NIIT Technologies Ltd (NTL) on Tuesday said its consolidated net profit increased 6 per cent to Rs 89 crore in the quarter ended June 30, 2019. The net profit, which excludes the contribution of NTL's GIS business, stood at Rs 84 crore in April-June 2018 quarter. 

JK Paper: JK Paper July 23 reported 29.68 per cent rise in its consolidated net profit to Rs 123.45 crore for the first quarter ended June 30. Its total income during the quarter under review fell 8.57 per cent to Rs 732.32 crore, from Rs 801.03 crore in the corresponding quarter last fiscal.

SBI Life: SBI Life posted an increase of 5 per cent in its net profit to Rs 371.90 crore in the first quarter ended June 30. The gross written premium during April-June period of 2019-20 grew 41 per cent to Rs 6,690 crore as against Rs 4,760 crore a year ago, SBI Life said. 

Maruti: Suzuki Motor Corp. plans to suspend a planned doubling of vehicle manufacturing capacity in Gujarat, reflecting continuing uncertainty in India’s automobile market, according to a report by Mint.

Praj Inds: The company on Tuesday reported a consolidated net profit of Rs 8.77 crore against Rs 3.49 crore in the year-ago period. Total income stood at Rs 219.91 crore, up 12.76 per cent YoY. 

GE Power: GE Power India on Tuesday posted a Rs 8.76 crore loss in June quarter mainly due to higher expenses and subdued revenues compared to year-ago period.
The company had posted a net profit of Rs 2.37 crore in the quarter ended June, 2018, a BSE filing said.

HDFC Life: HDFC Life on Tuesday reported an increase of 12 percent in its standalone net profit to Rs 425 crore in the first quarter ended 30 June. The insurer had posted a net profit of Rs 380 crore during the corresponding quarter of the previous financial year ended March 2019.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel