Asian Paints, L&T, Bajaj Auto and other stocks in news today

New Delhi: Trends in the SGX Nifty indicate a flat opening for the broader Indian equity markets on Tuesday. Shares in the Asia-Pacific were mixed on Tuesday as South Korea’s gross domestic product beat estimates. Japan’s Nikkei 225 declined 0.35 percent and Topix index inched down 0.16 percent.The Kospi in South Korea was 0.22 percent lower. Japan’s government slashed its economic growth forecast for this fiscal year largely due to slowing overseas demand, highlighting the impact of Russia’s war in Ukraine, China’s strict COVID-19 lockdowns and a weakening global economy.
In the US, S&P 500 see-sawed on Monday and ended close to unchanged as investors girded for an expected rate hike at a Federal Reserve meeting this week and earnings from several large-cap growth companies. The Fed is expected to announce a 75 basis-point rate hike at the end of its two-day monetary policy meeting on Wednesday, effectively ending pandemic-era support for the US economy.
Corporate results:Asian Paints, Larsen & Toubro, Bajaj Auto, Tata Power, United Spirits, Union Bank of India, Sanofi India, Aditya Birla Sun Life, KEI Industries will announce their corporate results today.
F&O ban : Indiabulls Housing Finance is part of F&O ban list by the stock exchange for today. The NSE updates the list of securities in F&O ban for trade everyday.
Tata Steel: The domestic steel major posted a 21 per cent fall in its consolidated net profit to Rs 7,714 crore for the April-June quarter due to higher costs of materials and finance costs. The company had reported a net profit of Rs 9,768 crore in the same period of 2021-22.
Axis Bank: The third-largest private lender reported an 86 per cent jump in its consolidated June quarter net at Rs 4,380.59 crore, helped by a steep fall in the amount set aside for bad loans.
Jindal Stainless: Jindal Stainless Limited (JSL)reported about an 8% increase in its consolidated net profit to Rs 329.37 crore in the April-June quarter on higher income. The company had a net profit of Rs 305.84 crore in the same period last year.
Bajaj Finserv: The board of directors of financial firm will consider the proposal for a stock split of company’s equity shares.
Sun Pharma: The Life Insurance Corporation has reduced shareholding in the drug maker by selling 2 per cent stake in the company for about Rs 3,882 crore. The shares were sold through open market transactions during the period from May 17, 2021 to July 22, 2022.
GlaxoSmithKline: GlaxoSmithKline Pharmaceuticals said its consolidated net profit increased by 8% to Rs 116 crore in the first quarter ended on June 30, 2022.
Tech Mahindra: IT services firm Tech Mahindra reported a consolidated net profit of Rs 1,132 crore for the quarter ended June 30, 2022, as compared to Rs 1,353.20 crore in the corresponding period of the last year.


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