PRE-MARKET INDIAN STOCKS NEWS: HCL Technologies (HCLT IS) Q1 (INR) net profit rose 20.3% Y/Y to INR 46.24bln and revenue rose 13.9% Y/Y to INR 345.79bln
Strong Q1 earnings from HCL Tech and ICICI Pru contrast with rising inflation risks as June CPI hit 4.38%, potentially shifting the RBI's stance toward future rate hikes.
News detail
Alembic Pharmaceuticals (ALPM IS) - The USFDA issued a warning letter to a clinical investigator linked to a bioequivalence study conducted at the Co.’s bioequivalence facility. (Moneycontrol)Biocon (BIOS IS) - Mylan is reportedly likely to sell its entire 5.64% stake in the Co. through block deals at a floor price of INR 378.50/shr. (Moneycontrol)HCL Technologies (HCLT IS) - Co. Q1 (INR) net profit rose 20.3% Y/Y to INR 46.24bln and revenue rose 13.9% Y/Y to INR 345.79bln. (Moneycontrol)ICICI Prudential Asset Management Company (ICICIAMC IS) - Co. Q1 (INR) net profit rose 23.1% Y/Y to INR 9.646bln and revenue rose 17.6% Y/Y to INR 15.642bln. (Moneycontrol)SpiceJet (SJET IS) - Lessors have asked the DGCA to deregister four Boeing 737-8 MAX aircraft, while the Co. said removing the long-grounded planes would eliminate lease rental costs. (ET)State Bank of India (SBIN IS) - Co.’s subsidiary SBI Funds Management opened its INR 98.13bln IPO for public subscription with a price band of INR 545-574/shr. (Moneycontrol)Data Recap - Indian CPI YY (Jun) 4.38% vs Exp. 4.30% (Prev. 3.93%)
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