IndiGo, Axis Bank among top five stocks hogging limelight on Dalal Street

Back homne, focus will shift to Reserve Bank of India (RBI)'s monetary policy meeting that began yesterday and will conclude tomorrow. Besides, investors will react to a slew of corporate earnings that came in after market hours yesterday.

IndiGo, Axis Bank among top five stocks hogging limelight on Dalal Street
Axis Bank reported a 46 per cent decline in net profit to Rs 701.09 crore. Image source: PTI
By ZeeBiz WebTeam
Updated: Tue, Jul 31, 2018
07:57 am
ZeeBiz WebDesk
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The Sensex and Nifty are expected to open lower on Tuesday tracking Asian markets, which weakened taking cues from the rout in global technology shares while the yen edged higher ahead of the Bank of Japan’s rate review, at which it could flag a shift away from its massive monetary stimulus. At 08:00 am, SGX Nifty was trading at 11,334, down 10 points or 0.09 per cent.

Back homne, focus will shift to Reserve Bank of India (RBI)'s monetary policy meeting that began yesterday and will conclude tomorrow. Besides, investors will react to a slew of corporate earnings that came in after market hours yesterday.

Here are key stocks that will remain in focus today:

Axis Bank: Private lender Axis Bank reported a 46 per cent decline in net profit to Rs 701.09 crore for the April-June quarter on account of increase in bad loans. The bank had registered a net profit of Rs 1,306 crore in the June quarter of 2017-18.

Tech Mahindra: IT services firm Tech Mahindra today reported 12.4 per cent rise in consolidated net profit at Rs 897.9 crore for the first quarter ended June 2018. The firm had registered a net profit of Rs 798.6 crore in the corresponding quarter of the last fiscal, Tech Mahindra said in a statement.

InterGlobe Aviation: InterGlobe Aviation, which runs largest domestic carrier IndiGo, today reported a steep 96.6 per cent fall in net profit to Rs 27.8 crore in June quarter, owing to adverse impact of foreign exchange and high fuel prices. The Gurugram-based budget carrier had posted a net profit of Rs 811.10 crore in the same quarter last year.

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Idea Cellular: Idea Cellular posted total comprehensive income of Rs 263.6 crore in June quarter on account of one time gain from sale of mobile towers. The company had posted a loss of Rs 816 crore in the same period a year ago.

Jaiprakash Associates: Debt-ridden Jaiprakash Associates reported a standalone net loss of Rs 285.02 crore for the first quarter of this financial year. Its net profit stood at Rs 764.99 crore in the year-ago period, the company said in a regulatory filing.