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HDFC Bank reported a robust 35 per cent growth in net profit, while Wipro beat profit estimates. IRCTC’s status upgrade and Vedanta’s successful QIP also draw attention. Suzlon Energy’s earnings await read more
 "Wipro, HDFC Bank, Suzlon Energy, IRCTC and Vedanta expected to be in focus")
GIFT Nifty is hinting at a negative start for the stock market on July 22. AP
The GIFT Nifty index, on Monday (July 22) around 8:40 am, was down 114 points or 0.46 per cent at 24,420. Ahead of the opening bell, the index indicated a negative start for Dalal Street. The India VIX, a measure of volatility in the stock market, was up 2.17 per cent at 14.82.
Here’s a look at stocks to watch today:
HDFC Bank: HDFC Bank has reported a 35 per cent year-on-year growth in net profit at Rs 16,175 crore for the June quarter, beating Bloomberg’s consensus net profit estimate of Rs 15,652 crore. Net Interest Income (NII) increased by 26.4 per cent year-on-year to Rs 29,837 crore in Q1FY25, while net interest margin improved to 3.47 per cent in the first quarter of financial year 2025 (Q1FY25), compared to 3.44 per cent in Q4FY24.
Wipro: IT firm Wipro, last Friday, reported a Q1FY25 net profit of Rs 3,036.6 crore, up 5.2 per cent year-on-year and 6.2 per cent quarter-on-quarter. It beat Bloomberg estimates of Rs 2,931 crore. India’s fourth largest IT services firm marginally upped its revenue guidance for the second quarter of FY25 from -1 per cent to +1 per cent.
Indian Railway Catering and Tourism Corporation (IRCTC): The Government of India announced the up-gradation of IRCTC from ‘Schedule B’ to ‘Schedule A’ category, Central Public Sector Enterprises (CPSE).
Vedanta: The company closed its Qualified Institutions Placement (QIP) issue, raising Rs 8,500 crore by selling 19.31 crore equity shares at Rs 440 per share. Institutional investors including Morgan Stanley, Societe Generale, SBI MF, Nippon MF, ICICI Mutual Funds, and Copthall Mauritius Investment participated.
Suzlon Energy: The company is set to announce its quarterly earnings for Q1FY25 on Monday.
Zaggle Prepaid Ocean Services: Zaggle Prepaid Ocean Services has signed an agreement with PNB MetLife India Insurance Company to provide PNB MetLife India with Zaggle Save (Employee expense management & benefits) for a duration of three years.
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