The stock market was watching several big company stocks today. Stocks like ICICI Bank, Voltas, Tata Motors, Manappuram Finance, and DOMS Industries were in focus after they announced their quarterly results, showing a mix of rising profits for some and falling profits for others.
Stocks to Watch Today
ICICI Bank
ICICI Bank has increased the minimum balance for new savings accounts from 1 August to Rs 50,000 in metro and urban branches (earlier Rs 10,000), Rs 25,000 in semi-urban branches (earlier Rs 5,000), and Rs 10,000 in rural branches (earlier Rs 2,500).
Voltas
Voltas has reported a 58% fall in Q1 profit to Rs 140.6 crore, as unseasonal rains and an early monsoon hit demand for air conditioners and cooling products.
Tata Motors
Tata Motors has posted a 63% drop in Q1 profit to Rs 3,924 crore from Rs 10,514 crore a year ago, while revenue slipped 2.45% to Rs 1.03 lakh crore due to weaker sales.
Manappuram Finance
Manappuram Finance has seen its Q1 profit tumble 76% to Rs 132 crore after a Rs 437 crore loss in its microfinance business. Revenue fell 9% to Rs 2,262 crore, and net interest income dropped 14%.
DOMS Industries
DOMS Industries has recorded a 10.5% rise in Q1 profit to Rs 57.3 crore on strong revenue growth to Rs 562 crore. DOMS’s margins narrowed to 17.5% despite a 13.8% rise in EBITDA.
