Stocks in news: Tata Power, Bajaj Finance, Polycab India, Gland Pharma and more

Sensex and Nifty opened higher today amid positive global cues. Sensex was trading 407 points higher at 52,604 and Nifty gained 112 points higher at 15,744.

Here's a look at stocks that are likely to remain in news today.

Bajaj Finserv: The NBFC reported an over 31 per cent fall in consolidated net profit at Rs 833 crore in Q1 against net profit of Rs 1,215 crore in the same quarter of the preceding fiscal.

Bajaj Finance: The firm reported a 4.2 per cent rise in consolidated net profit at Rs 1,002 crore in Q1 compared to Rs 962 crore in the same period a year ago.

Jubilant Foodworks: The operator of dominos reported a consolidated net profit of Rs 69.06 crore in Q1, aided by higher revenues despite the second wave of Covid-19 disrupting operations. It reported a consolidated net loss of Rs 74.47 crore in the same quarter last fiscal.

Gland Pharma: The drug firm reported a 11.83 per cent rise in its consolidated net profit to Rs 350.7 crore in Q1 on account of robust sales in all markets. The company reported a net profit of Rs 313.6 crore for the corresponding period of the previous fiscal.

Ceat: The tyre major posted a consolidated net profit of Rs 23 crore in Q1 against net loss of Rs 35 crore for the year-ago period amid massive COVID-led disruptions in the market.

Havells India: The consumer electrical goods maker reported nearly four-fold rise in its consolidated net profit to Rs 235.78 crore for the first quarter ended June 2021, driven by "resilient" demand post easing of Covid restrictions. The company had reported a consolidated net profit of Rs 63.98 crore in the April-June quarter a year ago.

Bank of Baroda: The state-owned lender and fintech platform U GRO Capital have launched a co-lending platform Pratham, under which Rs 1,000 crore loan will be disbursed to the MSME sector in the country.

Polycab India: The wires and cables manufacturer reported a 36 per cent fall in net income to Rs 75.3 crore for the first quarter ended June 30. On a low base, revenue grew by 93 per cent to Rs 1,880.5 crore despite the challenging business environment arising out of the lockdowns.

Tata Power: The Tata Groups' Tata AutoComp Systems on Wednesday said it along with US-based charging infrastructure company Tellus Power Green has executed a supply order for 64 200kW DC fast chargers to Tata Power. Tata Power is setting up charging stations for the EV buses in Mumbai as well as Ahmedabad.

Rallis India: The firm reported a 10 per cent decline in its consolidated net profit to Rs 82.34 crore for the first quarter ended June 30. Its net profit stood at Rs 91.87 crore in the year-ago period.

Glenmark Pharmaceuticals: The company said in a notice to exchanges that its arm Glenmark Life Sciences initial public offering will open on 27 July and close on 29 July. Glenmark Life Sciences Ltd is an API arm of Glenmark Pharmaceuticals. The IPO will consist of a fresh issue of  Rs 1,060 crore and an offer for sale of up to 6.30 million shares by Glenmark Pharmaceuticals.

ICICI Prudential Life Insurance Co: The insurer reported a 51% drop in business on an annualized premium equivalent basis for Q1FY22. Year-on-year growth looked strong at 48% simply because of a low base. On a gross basis, the company settled  Rs 1,120 crore worth of claims specific to the pandemic during Q1FY22, which was three times that of the entire FY21.

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