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Stocks in News Today

July 21, 2022

Wipro : Wipro reported a drop of 21% in net profit year on year to Rs 2563.6 crores as compared to last year at Rs 3242.6 cr. The high attrition rate and employee cost have increased the company’s expenses.

IndusInd Bank : Consolidated net profit grew by 60.5% year on year to Rs 1,63,114 crores as compared to last year at Rs.1,01,611 crores. The bank has lowered its provisions for bad debts.

ITC : ITC is reconsidering its plans to create an alternative structure for the hotel business. The plans were dropped earlier due to the heavy impact of the pandemic on the hotel industry.

SBI : SBI’s board has approved raising funds through the issuance of Basel III Debt Instruments. The bank will raise Tier-1 capital of Rs 7,000 crore and Tier-ll capital of Rs 4,000 crore.

Sonata Software : Sonata Software’s board may consider the issue of bonus shares in the 25th July meeting.

NTPC : NTPC has signed an agreement with the Moroccan Agency for Sustainable Energy for cooperation in renewable energy.

NHPC : NHPC has signed an MoU with Damodar Valley Corporation (DVC) to explore the formation of a Joint Venture Company. The joint venture will focus on exploring and setting up hydropower and pump storage projects.

Future Retail : The National Company Law Tribunal has ordered to initiate insolvency resolution proceedings against Future Retail.