The state-run lender is slated to announce its June quarter results later in the day. Amid declining interest income and lower net profit sequentially, analysts see India’s largest public sector bank’s business growth to be modest in the recently concluded quarter. READ MORE
Torrent Pharma: Despite challenges posed by Covid-19 pandemic and lockdown, Torrent Pharmaceuticals Ltd. (TPL) saw its consolidated profit before tax (PBT) rise 44.08 per cent for the first quarter ended June 30, 2020, to stand at Rs 402 crore. The company's PBT in the corresponding quarter last year stood at Rs 279 crore.
Earnings today: Besides SBI, 575 other companies, including Tata Motors, Sun Pharmaceutical Industries, Indian Oil Corporation are scheduled to announce their quarterly results.
Lakshmi Vilas Bank:
Lakshmi Vilas Bank (LVB)'s loss before tax provision was at Rs 112.28 crore, for the quarter ended June 30, 2020 as against a loss of Rs 237.25 crore for the quarter ended June 30, 2019. The lender's net NPA reduced to 9.64 per cent as on March 31, 2020 from 10.04 per cent a year ago.
The stock may trade actively today as it enters the Nifty50 index, replacing Vedanta Ltd.
Wipro: Wipro announced that Metro Bank, a large UK based retail and commercial bank, has awarded a multi-year contract to deliver and transform Testing and Environment Management Services.
Homegrown FMCG major Dabur India Ltd on Thursday reported a 6.18 per cent decline in its consolidated net profit at Rs 341.30 crore for the quarter ended June 30, 2020, due to lower revenue from operations. It had posted a net profit of Rs 363.81 crore in the April-June period of the last fiscal.
Kesoram Industries: The Kesoram Industries board on Thursday approved a fund raising plan of up to Rs 2,000 crore to primarily replace existing debt. The company informed the stock exchanges that the board had empowered the "Fund Raising Committee" to decide and formulate details of fund raising.
Biocon: The company said in its press release that Tata Capital Growth Fund will invest nearly US $30 million (Rs 225 crore) in Biocon Biologics for an equity stake of 0.85 per cent, deal values Biocon Biologics at US dollar 3.5 billion.
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