Shares of ING Vysya Bank may react to its April-June financial performance, which was revealed after market hours on Tuesday. The Bank has posted a net profit of ₹143.40 crore for the quarter ended June 30, compared with ₹175.12 crore in the year-ago period. For the March quarter this year, ING Vysya had posted a net profit of ₹139.11 crore. Some analysts had expected the Bank to post a decline in profit, but projected it in the range of ₹165-170 crore.
Host of key companies announcing results
Wednesday will see a lot of high profile companies coming out with April-June quarter financial results. Among them on analysts radar are Cairn India, NIIT, YES Bank, JSW Energy, Polaris Financial Technology, Geometric, L&T Financial Holdings and GIC Housing Finance. After Reliance Industries’ strong performance, Cairn India will come under renewed focus. Analysts expects Cairn India to post a marginal decline in net profit, both sequentially and annually.
Prefrential allotment to keep Suzlon in focus
Suzlon Energy shares will remain in focus on the bourses, as securities issue committee of the board on Tuesday approved an allotment of 7.16 crore equity shares of ₹2 each to lenders on a preferential basis. According to a corporate debt restructuring package, these shares will be allotted at an issue price of ₹18.51 a share. These shares will, however, have a lock-in for a period of one year from the date of allotment. Shares of Suzlon closed at ₹24.75, down 4.26 per cent.
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