Wall Street’s main indices rose on Thursday boosted by a late-afternoon rally and gains in heavyweight growth stocks, including Tesla. The tech-heavy Nasdaq added 1.4 percent to lead the gains while the S&P 500 closed at its highest level since June 9. The Dow Jones Industrial Average climbed 0.5 percent.
Stocks in news
Reliance Industries, UltraTech Cement, JSW Steel, HDFC Asset Management Company, Bandhan Bank, Coforge, Crompton Greaves Consumer Electricals, Finolex Industries, Andhra Cements, Atul, Bharat Gears, Gokaldas Exports, Greenpanel Industries, HFCL, Huhtamaki India, Mahindra CIE Automotive, Meghmani Organics, Sigachi Industries, Supreme Petrochem, Tinplate Company of India, Ugro Capital, and Zenotech Laboratories will be in focus ahead of June 2022 quarter earnings on July 22.
Two stocks – RBL Bank and Delta Corp – are under the NSE F&O ban list for July 22. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
Biocon: The biotechnology major said the US health regulator has issued three observations after inspecting its Telangana-based manufacturing plant. The US Food and Drug Administration (USFDA) concluded a pre-approval inspection for Site 3 located at Hyderabad on July 20.
PVR: Leading multiplex chain operator reported a consolidated net profit of Rs 53.38 crore for the June quarter. The company had posted a net loss of Rs 219.44 crore in the April-June quarter a year ago.
JSW Energy: JSW Energy said its net profit jumped 179% to Rs 560 crore in the June quarter, mainly on the back of higher revenues. Profit After Tax (PAT) stood at Rs 560 crore, which was 179% higher YoY (year on year) compared to a PAT of Rs 201 crore in the corresponding period of previous year (April-June 2021).
ICICI Securities: ICICI Securities reported a 12% decline in net income at Rs 273 crore in the June quarter despite an increase in revenue during the same period.
Emami: The FMCG major announced an entry into the pet care industry by acquiring a 30 per cent stake in a startup at an undisclosed sum. However, the company clarified that it is not into the pet food segment, the main revenue churner in the multi-billion dollar industry.
Reliance Industries: Reliance Brands on Thursday announced inking a long-term distribution agreement with Valentino to bring to India the most established Italian Maison de Couture. Under the agreement, the Reliance Industries-backed company will open its first Valentino boutique in Delhi followed by a flagship store in Mumbai.
NLC India: NLC India said its board has approved investment proposals worth ₹14,944.91 crore for setting up power and mining projects in Tamil Nadu.
NDTV: The Securities Appellate Tribunal (SAT) has reduced the penalties imposed by Sebi on NDTV and its promoters Prannoy Roy, Radhika Roy and RRPR Holding to Rs 5 crore from Rs 25 crore in a case related to non-disclosure of a loan agreement.
Results on July 24: Infosys to be in focus ahead of its quarterly earnings on July 24.. Country’s second largest IT services provider Infosys will announce its June 2022 quarter earnings on July 24, Sunday.
Read More: RIL, RBL Bank, JSW Steel and other stocks in news today – Times of India