stocks in focus: Stocks in news: SBI, Airtel, ONGC, Titan, Infosys, JSW Steel, IDBI Bank

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Domestic markets exhibited volatility over the past week, ultimately closing marginally lower amid mixed signals. In today’s trade, shares of SBI, Airtel, ONGC, Titan, Infosys, JSW Steel, IDBI Bank among others will be in focus due to various news developments and first quarter results.

Airtel, ONGC, Marico

Shares of Airtel, ONGC and Marico will be in focus as the companies will announce their first quarter results today.

SBI
Public lender State Bank of India (SBI) reported a standalone net profit of Rs 17,035 crore for the quarter ended June 2024, which was up by 0.9% year-on-year.

Divi’s Labs
Divi’s Labs reported a consolidated net profit of Rs 430 crore for the quarter ended June 30, 2024, which was up by 21% year-on-year.

Britannia
Britannia on Friday reported that its June quarter consolidated profit rose 10.5% year-on-year (YoY) to Rs 506 crore while revenue rose 4% YoY to Rs 4,130 crore.Titan
Titan reported a standalone net profit of Rs 770 crore for the quarter ended June 30, 2024, which was down by nearly 1% year-on-year.

IDBI Bank
IDBI Bank is selling its Rs 6,151 crore legacy stressed asset portfolio to Omkara Asset Reconstruction Company (ARC) in a move that will help the government fetch an improved valuation for the proposed stake sale in the lender.

JSW Steel
JSW Steel has submitted a notice to surrender a mining lease for a block in Odisha, citing “uneconomic operation”

Infosys
Infosys said it has got a communication from the Directorate General of GST Intelligence (DGGI), closing the pre-show cause notice proceedings for 2017-2018 that amounted to Rs 3,898 crore.

Ambuja Cement
Adani Group-owned Ambuja Cement Ltd (ACL) announced an investment of around Rs 1,600 crore in Bihar to set up a cement grinding unit at Warisaliganj in Nawada district.

Amara Raja Batteries
Amara Raja Batteries reported a net profit of Rs 249 crore for the first quarter, while revenues were at Rs 3,263 crore.

Ashoka Buildcon
Ashoka Buildcon declared lowest bidder for 2 projects worth Rs 1,280.8 crore from Mumbai Metropolitan Region Development Authority.

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