17,000 new credit cards issued by ICICI linked to wrong users

Wipro on Thursday posted a 35.65% year-on-year rise in consolidated net profit at Rs 3,242.60 crore for the quarter ended June 30. It had posted a profit of Rs 2,390.40 crore in the same period last year.

Here is the list of top stocks that could be in focus on July 7.

NMDC: The government on Tuesday was assured of at least Rs 3,700 crore from NMDC’s share sale after institutional investors overwhelming subscribed to the OFS on day 1. The government is selling over 21.95 crore shares or 7.49% stake in state-owned miner NMDC at a floor price of Rs 165 a piece.

Kotak Mahindra Bank: Kotak Mahindra Bank said that Kotak Securities, a subsidiary of the bank, has entered into an agreement with Kredent InfoEdge (KIPL) dated July 6, 2021 for investment of Rs 10 crore for a 9.96% in the total share capital of KIPL.

Titan: Titan Company said that the company recorded revenue growth of about 117% (excluding bullion sales) in Q1’22, with revenue contribution of approx. 50%, 10% and 40% coming from April, May and June months respectively.

Mahindra & Mahindra: M&M has signed a Power Delivery Agreement with ReNew Sunlight Energy Private Limited (‘RSEPL’) whereunder RSEPL as a Captive Generator shall be supplying solar power to the company as a captive user. The company has also signed a Share Subscription and Shareholders’ Agreement (‘SSSHA’) with RSEPL and ReNew Green Energy Solutions Private Limited for subscribing to 1,60,74,000 equity shares, in one or more tranches, which would result in the company holding up to 31.2% of the equity share capital of RSEPL.

Sobha: Sobha said the company achieved total sales volume of 8,95,539 square feet of super built-up area valued at Rs 682.9 crore in Q1FY22 against 6,50,400 square feet of super built-up area valued at Rs 487.7 crore sold in Q1FY21.

RBL Bank: RBL Bank’s total deposits on a provisional basis grew by 21% YoY to Rs 74,480 crore and gross advances increased by 2% to Rs 58,755 crore in June 2021 quarter.

RattanIndia Enterprises: The company has decided to expand its footprint internationally. The company will explore strategic partnerships with companies having cutting-edge technologies which could be brought to India’s vast market or could leverage India’s cost advantage in manufacturing or outsourcing. The company will also look at investing in technology companies having potential of high growth. By doing this, it has expanded its canvas to international markets thereby ensuring that suitable opportunities outside India are not missed out. In order to put this to effect, it has decided to incorporate a wholly owned subsidiary overseas.

TCS: Tata Consultancy Services (TCS) has launched Jile 5.0, a major release of its on-the-cloud Enterprise Agile planning and delivery tool that enables enterprises to meet the large-scale development needs of multiple distributed teams. With enhanced Agile portfolio capabilities and Lean portfolio budgeting, Jile enables better collaboration and accelerates value creation.

Tata Motors: Tata Motors’ wholly-owned subsidiary — Jaguar Land Rover (JLR) has commenced deliveries of new version of Range Rover Evoque in the country. The updated Evoque comes with 2-litre petrol and diesel powertrains. The 2-litre petrol engine delivers a power of 184 kW, while the 2-litre diesel engine generates 150 kW of power. The price of the model starts from Rs 64.12 lakh (ex-showroom).

TVS Motor: TVS Motor Company has launched TVS NTORQ 125 Race XP. TVS NTORQ 125 ushered in a new era of connectivity, power, and style to the Indian scooter industry. TVS NTORQ 125 Race XP is set to redefine it. It has a path-breaking technology deployed on its Smartxonnect connectivity platform, its renewed drive train with Ride Modes and lightweighting.

Route Mobile: The company has completed acquisition of Sarv Webs’ primarily intellectual property (‘software’) and its associated identified customer contracts (business), on a slump sale basis, subject to fulfillment of terms and condition of the Business Transfer Agreement (BTA). Earlier, the company had entered into BTA with Sarv Webs, Rajasthan, India for acquisition.

HDFC Bank: The lender has partnered with Creditas Solutions to offer a guided and customised debt management solution for its loan and credit card customers. With Covid-19 still gripping the country and posing enormous repayment challenges for consumers, the platform comes armed with ready-to-deploy solutions addressing a number of challenges faced by users while managing their credit card and loan payments.

Ashok Leyland: The company has reported its manufacturing plants across the country would be operational between 6-25 days in July. The Chennai-based company noted that the overall market demand in July is better than in June this year.