Stocks to watch: Tech Mahindra, Bharti Infratel, Nestle, Pfizer, USL, ITC

A total of 132 companies, including UltraTech Cement, Nestle India, IndusInd Bank, and IDBI Bank, are scheduled to announce their results later in the day.
At 08:41 am, Nifty futures on the Singapore Exchange (SGX) were trading 35.50 points or 0.32 per cent higher at 11,150.30, indicating a positive start for the Indian market on Tuesday. 

Here's a list of stocks that may remain in focus today.

Earnings today: A total of 132 companies, including UltraTech Cement, Nestle India, IndusInd Bank, and IDBI Bank, are scheduled to announce their results later in the day.

Tech Mahindra: IT services firm Tech Mahindra on Monday reported profit before tax (PBT) of Rs 1,283 crore, up 32.9 per cent sequentially but flat year-on-year (YoY), according to an exchange filing. The Mahindra group firm beat estimates for the June 2020 quarter (Q1FY21) thanks to lower operating costs. READ MORE

Pfizer: Pfizer posted a profit before tax of Rs 173.3 crore for the June quarter of FY21, a negligible decline of 0.8 per cent when compared with the corresponding quarter of the previous financial year.

Bharti Infratel: Bharti Infratel posted a profit before tax of Rs 943 crore for the quarter ended June, down 15 per cent from Rs 1,106 crore in the corresponding period last year. The consolidated profit after tax for the quarter was down 21 per cent at Rs 704 crore from Rs 887 crore in the same period last year.

Tejas Networks: Net loss of Tejas Networks reported to Rs 9.76 crore in the quarter ended June 2020 as against net profit of Rs 5.85 crore during the previous quarter ended June 2019. 

ITC: Diversified business entity ITC Ltd on Monday announced acquisition of spices manufacturer Sunrise Foods Private Ltd (SFPL) in an all-cash deal valued at Rs 2,150 crore. According to the company, it has acquired shares of SFPL at an "upfront consideration of Rs 2,150 crores on a cash-free, debt-free basis".

United Spirits: Diageo controlled liquor maker United Spirits on Monday reported a consolidated net loss of Rs 246.6 crore for the first quarter ended June 30, mainly due to Covid-19 and subsequent lockdown. The company had posted a net profit of Rs 181.7 crore in the April-June quarter a year ago, United Spirits Ltd (USL) said in a regulatory filing.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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