PRE-MARKET INDIAN STOCKS NEWS: Earnings including Jio Financial Services, Tech Mahindra & Wipro
Indian Q1 earnings highlight strong growth for Jio Financial and Tech Mahindra, while CEAT and Wipro face margin pressures despite revenue gains. Coal India advances its solar energy initiatives.
News detail
CEAT (CEAT IS) - Co. Q1 (INR) net fell 96.4% Y/Y to 40mln, rev. rose 22.4% Y/Y to 43.18bln. (Moneycontrol)Coal India (COAL IS) - Co. received a commissioning certificate from the Gujarat Energy Development Agency for 200MW of the 300MW solar power project at Khavda, Gujarat. (Moneycontrol)Jio Financial Services (JIOFIN IS) - Co. Q1 (INR) net rose 155% Y/Y to 8.30bln. (Economic Times)Maruti Suzuki India (MSIL IS) - Co. will challenge a consumer commission order directing it to replace a customer's vehicle with a new E20-compatible model, maintaining that the vehicle was already compatible with E20 fuel. (Moneycontrol)PC Jeweller (PCJEWELLER IS) - Co.'s board approved raising up to INR 10bln through a Qualified Institutions Placement in one or more tranches. (Moneycontrol)Tech Mahindra (TECHM IS) - Co. Q1 (INR) net rose 31.7% Y/Y to 14.86bln, rev. rose 17.7% Y/Y to 157.12bln. (Moneycontrol)Wipro (WPRO IS) - Co. Q1 (INR) net rose 0.6% Y/Y to 33.56bln, IT services rev. rose 10.7% Y/Y to 244.53bln. (Moneycontrol)
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