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State-run lenders:
Allahabad Bank, Andhra Bank, Bank of Baroda and other state-run lenders, will be in focus after the banking regulator is examining whether auditors at these state-run lenders followed RBI guidelines on write-downs, provisioning and NPAs. The RBI has questioned scores of auditors at 27 PSBs on the process and logic they had used to compute and report write-downs at the lenders.
CARE Ratings Ltd:
CARE Ratings Ltd., the rating agency, will be in focus after the Securities and Exchange Board of India is examining Crisil's Jun 29 purchase of an 8.9% stake in rival credit rating firm CARE Ratings after the latter complained the transaction was an attempt at a potential hostile takeover.
DLF Ltd:
DLF Ltd., India's largest realty developer, will be in focus after the deal between DLF and Singapore's sovereign wealth fund GIC for a 40% stake in DLF Cyber City Developers (DCCDL) has entered the final stages.
Divi's Laboratories Ltd:
Divi's Laboratories Ltd., a local drug maker, will be in focus after it received environment clearance for modernisation of its bulk drug unit in Visakhapatnam which will entail a cost of Rs 1 billion.
Fortis Healthcare Ltd:
Fortis Healthcare Ltd., the hospital chain operator, will be in focus after the Supreme Court told Malvinder and Shivinder Singh to maintain the current status of shares held by one of their companies in Fortis Healthcare. The order might block the brothers from selling any shares in Fortis Healthcare.
Hindalco Industries Ltd:
Hindalco Industries Ltd., the flagship company of Aditya Birla group, will be in focus after its fiscal first-quarter net profit fell 1.5% due to provisioning for mines currently sub-judice and in anticipation of implication from the recent Supreme Court ruling. Net profit fell to Rs 2.90 billion in the Apr-Jun quarter compared to Rs 2.94 billion in the corresponding period a year ago.
JK Tyre Ltd:
JK Tyre Ltd., a tyre maker, will be in focus after rating on long term bank facilities upgraded to CARE A+ stable from CARE AA- negative by Care Ratings.
Oil India Ltd:
Oil India Ltd., a State-run refiner, will be in focus after it reported a 9% drop in its June quarter net profit owing to higher oil volume and realization offset by lower gas volume and price. The net profit of the company stood at Rs 4.50 billion compared to Rs 4.94 billion in the corresponding quarter a year ago.
State Bank of India:
State Bank of India, the country's biggest lender, will be in focus after its consolidated profit in the fiscal first-quarter witness over two-fold surge on lower provisions for bad loans. Net profit increased to Rs 31.05 billion in the three months ended Jun 30 from Rs 8.67 billion in the corresponding period a year ago.
Sail Ltd:
Sail Ltd., India's largest steel maker, will be in focus after its standalone net loss widen to Rs 8.01 billion for the June quarter owing to higher expenses. The steelmaker had clocked a net loss after tax of Rs 5.35 billion in the corresponding quarter of 2016-17.
SpiceJet Ltd:
SpiceJet Ltd., India's fourth largest air carrier, will be in focus after it plans to use the 'sale and leaseback' route to induct about a sixth of the 275 aircraft it has ordered, sticking to its goal of staying asset-light until the fleet expansion scheduled over the next three years is complete.
Tata Steel Ltd:
Tata Steel Ltd., a leading integrated steel maker, will be in focus after it is said to be exploring plans to hive off the strategic engineering division (SED) of Tata Power Company as part of a strategy to consolidate its defence businesses.
IDBI Bank, Coal India, Grasim Industries, AIA Engineering, Bajaj Hindustan, Unitech, Future Consumer, Jain Irrigation, Dredging Corp, Infibeam Incorporation, JK Tyre & Industries among others to declare their first quarter earnings today.
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