Stocks News: ITC, Zomato and other stocks in the news today | Company

NEW DELHI: SGX Nifty trends point to a positive open for Indian equity markets today. Sensex and Nifty crossed the 57,500 and 17,000 mark respectively on Friday. Wall Street ended higher on Friday with positive forecasts from tech companies. Asian stock markets got off to a slow start on Monday as disappointing Chinese economic data fueled doubts that Wall Street’s rally would continue last week in the face of determined policy tightening from global central banks.
Chinese factory activity actually contracted in July as new virus outbreaks weighed on demand. The official purchasing managers’ index (PMI) for the manufacturing sector fell to 49.0 in July, missing the forecast of 50.4. The Japanese Nikkei faltered on either side of the flat, while South Korea fell 0.1%. S&P 500 futures slid 0.4% and Nasdaq futures 0.3%.
Business results today: ICCVarun Beverages, UPL, ZomatoMax Financial Services, Kubota EscortsKansai Nerolac Paints, AlkylaminesCastrol India, Punjab & Sind Bank, Triveni Turbine and Barbeque Nation Hospitality are among the companies that will announce their quarterly results today.
Bank of Baroda: State-owned Bank of Baroda reported a 79.3% increase in its after-tax autonomous profit (PAT) to Rs 2,168 crore in the quarter ended June 30, driven by higher net income growth from interest (NII).
Mahindra & Mahindra: The domestic auto major said it received more than a million reservations for its all-new Scorpio-N SUV within half an hour of booking it, which began on Saturday. M&M launched the vehicle on June 27.
Power of torrents: Power of torrents acquired 100% stake in Wind Two Renergy Private Ltd (WTRPL) for Rs 32.51 crore from Inox Green Energy Services.
DLF: major in real estate LDFNet debt decreased by 16% in the April-June period to Rs 2,259 crore from the previous quarter on the back of strong home sales.
ONGC: ONGC Videsh Ltd, the overseas arm of the state-owned Oil and Natural Gas Corporation (ONGC), and Indian Oil Corporation (IOC) are in talks to acquire a stake in the Tullow Oil field at Lokichar in Kenya.
Dr. Reddy’s Laboratories: The drugmaker says it has struck a pact with US-based Slayback Pharma to acquire the rights to a drug to relieve redness in the eyes.
Oriental Hotels: Associate of The Indian Hotels Company reported its highest ever after-tax profit at Rs 11.09 crore for the quarter ending June 30, 2022 following a resurgence in travel.
HDFC: The mortgage lender has raised its benchmark lending rate by 25 basis points, a move that will make loans more expensive for existing and new borrowers. The rate hike comes ahead of the RBI’s Monetary Policy Committee (MPC) meeting later next week.