Stocks to watch: HCL Tech, Axis Bank, Shilpa Medicare, Mindtree, Delta Corp

HCL Technology, IT Service Provider posted net profit of 3,283 crore in the June quarter, up 2.4% from a year ago, but below Bloomberg’s consensus estimate 3,322 crore. The company’s net profit was down 8.6% quarter-over-quarter, while revenue rose 3.8% over the same period. June quarter revenue up 17% over a year ago 23,464 crores.

Stirling and Wilson: The company posted a net loss of 353.9 crore against the loss of 76 Corps a year ago. Revenue up 1% 1,206.9 crore vs. 1,194.6 crore a year ago. EBITDA fell 343.9 crores against the loss of 103.7 crores.

Shilpa Medicare: The company’s newly commissioned facility at Dubspet, Karnataka has received GMP certificate from UK MHRA. The facility was inspected by MHRA from 18 April 2022 to 20 April 2022. The facility has the capability to manufacture and test specialized dosage forms such as orodispersible films and transdermal systems.

axis Bank: The lender said the Reserve Bank of India has approved the reappointment of Rakesh Makhija as non-executive chairman till October 2023. The reappointment is effective from July 18.

Mindtree: The IT company will announce its June quarter earnings today. The BFSI segment is likely to see strong performance along with improvement in verticals, and a healthy pipeline that is likely to pick up constant currency growth of 4-5% sequentially. The company’s revenues are expected to remain under pressure due to currency headwinds in dollar terms.

Indigo: The company has initiated disciplinary proceedings against aircraft maintenance technicians who have gone on mass sick leave during the last five days to protest the low pay. IndiGo said such absence without prior notice affects the operations of the airline.

Delta Corp: The company recorded a net profit of Loss of Rs 57.13 crore in April-June quarter 28.93 crore in the year-ago period. Consolidated net sales up for the quarter against 250.27 75.87 crore a year ago.

Max Ventures & Industries: The company has received approval from NSE and BSE for amalgamation of the company with its wholly owned subsidiary Max Estates Limited.

Anand Rathi Property: Non-Bank Wealth Reconciliation Company registers 33.6 percent growth in Profit After Tax 39.7 crore for the three months ended June 2022. Total revenue up 35.7 percent 133.5 crore in the quarter under review from 98.4 crore in the first quarter ended June 2021.

care rating: The Board of the Company will consider the proposal for buyback of equity shares of the Company on 20th July in accordance with the relevant provisions of SEBI.

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