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Wipro and Tech Mahindra shares rise ahead of June-quarter results; Street eyes 12–14% sales growth at Wipro
India’s IT services firms Wipro and Tech Mahindra are set to report their fiscal 2025 first-quarter results for the June-ended period. The market expects Wipro’s revenue to rise 12–14% year on year while profit is seen largely flat, while Tech Mahindra’s profit is projected to jump 39–40% on 15–16% revenue growth. In pre-earnings trade, the two stocks were up 1.58% and 1.68%, respectively. Brokerages have also shared detailed forecasts spanning revenue, profit, margins and deal wins.
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MRPL posts ₹915 crore Q1 FY27 profit as revenue climbs to ₹41,609 crore
Mangalore Refinery and Petrochemicals Ltd reported a standalone net profit of ₹915 crore in Q1 FY27, reversing a ₹272 crore loss a year earlier. Revenue from operations rose to ₹41,609 crore from ₹20,989 crore, while EBITDA increased to ₹1,860 crore from ₹218 crore. The turnaround was driven by ₹471.76 crore in exceptional income tied to a revision in petroleum product prices for supplies made in the previous period, along with improved refining margins.
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ICICI Lombard drops 14.86% after Q1 FY2025 profit slides 46% and CoR rises to 102.3%; broker targets cut
ICICI Lombard reported Q1 FY2025 results with net profit down 46% year on year, while its combined operating ratio (CoR) rose to 102.3%, missing market expectations. The quarter was hit by additional reserving in Motor TP following a Supreme Court verdict and a 32% drop in fire premiums as underwriting discipline tightened, pressuring both underwriting and investment income. Several brokerages cut earnings estimates, targets and ratings, after the stock fell 14.86% to Rs 1,544.40 and is down 17.85% year to date.
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MRPL shares jump 7% as Q1 profit turns to Rs 945.7 crore; ICICI Lombard slides 12% on weaker earnings
MRPL posted a net profit of Rs 945.7 crore for the quarter ended June 2026, reversing a Rs 270.7 crore loss a year earlier, while revenue jumped 120.4% YoY to Rs 38,254.2 crore. ICICI Lombard reported a 46% YoY decline in net profit to Rs 403.2 crore, sending the stock down 12%. One 97 Communications (Paytm) slipped nearly 2% after it said its board will meet on July 20 to consider a bonus share issue proposal. Dixon Technologies rose 5% after HSBC upgraded the stock to 'Buy' and lifted its target price to Rs 16,000 per share.
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Australia to add criminal and civil penalties for firms over AUS$100 million under Modern Slavery Act
Australia said it will amend its Modern Slavery Act to introduce criminal liability and civil penalties for companies with annual revenue above AUS$100 million that fail to prevent forced labor and debt bondage in overseas supply chains. The move follows a warning from the U.S. Trade Representative that Australia could face a 12.5% tariff over the issue. About 4,000 Australian companies currently file annual modern slavery statements, and the Australian Federal Police investigated 280 modern slavery and human trafficking reports last year.
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BHEL set to report Q1 results on July 16 as shares jump 105% from 52-week low
State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) is scheduled to post Q1 results for the quarter ended June 30 on July 16, 2026. Brokerages broadly expect revenue to rise 17–29% year on year, even as it is seen falling 42–47% sequentially. EBITDA and net profit are expected to drop sharply quarter on quarter, with some forecasts calling for both to turn negative. Market focus is on execution pace, margin pressure from new projects and the quality of order-to-revenue conversion, with the print seen as a “higher revenue, weaker profit” quarter that could drive near-term profit-taking in the stock.
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Krishival Foods sets ₹195 final call on partly paid rights shares, payment window runs July 21–August 4, 2026
Krishival Foods said it will levy a first and final call of ₹195 per share on its partly paid-up rights equity shares allotted in January 2026, totaling about ₹65 crore. The payment window runs from July 21, 2026, to August 4, 2026, and the company said shares may be forfeited if the call is not paid. Separately, the board approved a ₹15 crore corporate guarantee for its subsidiary Melt N Mellow Foods to lease deep-freeze equipment, which the company classified as a related-party transaction. The subsidiary’s turnover has risen for three straight years, reaching ₹90.22 crore in 2025–26.
3h ago