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HDFC Bank Ltd., State Bank of India (SBI), and other lenders, will be in focus after the Finance Minister Arun Jaitley said that the banks have an exposure of Rs 976.81 billion in the telecom sector, which is grappling with financial stress. In a written reply to the Rajya Sabha, Jaitley said SBI Chairman pointed out that stress in the telecom sector has reached "highly unsustainable levels" due to erosion of top-line and earnings of the service providers.
Axis Bank Ltd:
Axis Bank Ltd., the nation's third largest private sector lender, will be in focus after its net profit for the fiscal first-quarter contracted by 16% on year due to higher provisions and contingencies for bad loans. Net profit fell to Rs 13.06 billion in the three months ended Jun 30 compared to Rs 15.56 billion in the corresponding period a year ago.
Asian Paints Ltd:
Asian Paints Ltd., India's biggest paint maker, will be in focus as its fiscal first-quarter net profit fell 20% on Goods and Services Tax regime roll-out amid higher material prices. Net profit fell to Rs 4.40 billion in the Apr-Jun quarter compared to Rs 5.52 billion in the same period a year ago.
Bharti Airtel Ltd:
Bharti Airtel Ltd., India's biggest mobile phone service provider, will be in focus as its fiscal first-quarter group profit tanked 75.89% on disruptive pricing by the rival telecom company. The operator reported a slump in its net profit, the lowest level in four and a half years, as its voice and data businesses continued to suffer from the price war triggered by Reliance Jio Infocomm's dirt cheap offerings.
Cipla Ltd., a local drug maker, will be in focus after it launches Rectal Artesunate Suppositories to treat children suffering from severe Malaria.
Hero MotoCorp Ltd:
Hero MotoCorp Ltd., the biggest two wheeler maker, will be in focus on reporting a 3.50% rise in net profit at Rs 9.14 billion for the quarter ended Jun 30, 2017 against Rs 8.83 billion in the corresponding quarter last year. The company reported its highest-ever quarterly sales of 18,53,647 units in Q1FY18 against 17,45,389 units in the same period a year ago.
Indraprastha Gas Ltd:
Indraprastha Gas Ltd, India's leading natural gas distributor, will be in focus after it announced revision in the selling prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in NCT of Delhi, Noida, Greater Noida and Ghaziabad to offset the overall impact on its costs after transition to GST regime. The revision would result in an increase of Rs 1.11 per kg in the consumer price of CNG in Delhi and Rs 1.27 per kg in the same in Noida, Greater Noida and Ghaziabad.
ICICI Prudential Ltd:
ICICI Prudential Ltd., India's largest private insurance provider, will be in focus after its standalone net profit remained flat at Rs 4.06 billion during the first quarter ended Jun 30, on higher commission payout and fall in investment income.
National Fertilizers Ltd:
National Fertilizers Ltd., a state-owned organic & inorganic fertiliser maker, will be in focus after the government plans to sell 15% stake in it at a floor price of Rs 72.80 a share through a two-day offer for sale beginning today. The sale of 735 million shares or 15% stake would fetch about Rs 5.3 billion to the exchequer.
Prestige Estate Projects:
Prestige Estate Projects Ltd., the Bangalore based property developer, will be in focus after it is looking to raise funds by divesting stake across its business verticals, starting with the commercial and retail portfolios.
Reliance Industries Ltd:
Reliance Industries Ltd., the Mukesh Ambani led group, will be in focus after it plans to make its consumer electronics and mobile phone retailing venture, Reliance Digital, a Rs 400 billion entity by 2020. It is betting on demand for the newly launched Jio feature phones, service revenue, expansion into small markets and online sales to reach the target.
Punjab National Bank:
Punjab National Bank, a state-owned lender will be in focus on has raised Rs 15 billion additional tier - I (Basel III compliant) capital bonds at a coupon of 8.98% per annum on private placement basis.
Vedanta Ltd., India's biggest producer of aluminium, copper & zinc miner, will be in focus after it reported a two-fold increase in consolidated net profit to Rs 15.25 billion for this quarter driven by better margins across most of the metals it mines. Consolidated profit stood at Rs 15.25 billion ($236.76 million) in the quarter ended Jun 30, compared with Rs 7.54 billion.
Federal Bank Ltd., Housing Development Finance Corporation Ltd., Yes Bank Ltd., Adlabs Entertainment Ltd., Muthoot Finance, Nestle India, Everest Industries Ltd., Bharat Financial Inclusion Ltd., PVR Ltd., Aditya Birla Money Ltd., among other to announce Apr-Jun quarter earnings release today.
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