Sensex ends 89 points higher, Nifty top gainer

The Indian market ended up higher on Friday after a day of losses led by gains in IT and banking stocks. Sensex increased by 89 points to 58,387 and Nifty gained 7 points to 17,389. 16 of 30 Sensex stocks ended up in the green.

UltraTech Cements, ICICI Bank, Bharti Airtel and PowerGrid Bank were the top Sensex gainers, rising to 2.31 per cent.

M&M, Maruti Suzuki, Reliance Industries and IndusInd Bank were the top Sensex losers, falling up to 2.06 per cent.

Here's a look at stocks that are likely to remain in news today.

Earnings today: Bharti Airtel, Adani Ports, Power Grid, Samvardhana Motherson International, Delhivery, Indian Hotels Company, UNO Minda, Vedant Fashions, Torrent Power, Whirlpool of India and National Aluminum are among the major firms that will announce their earnings for the quarter ended June 2022.

SBI: The country's largest lender posted a 7 per cent decline in net profit at Rs 6,068 crore for the first quarter of the current financial year due to a fall in income. The bank had reported a net profit of Rs 6,504 crore in the April-June quarter of 2021 -- 22.

M&M: The firm posted a 67 per cent increase in the firm's net profit at Rs 1,430 crore for the quarter ended June 30th, 2022. The company posted a profit of Rs 857 crore in the year-ago period. M&M's net profit rose 10.7 per cent from Rs 1,292 crore in the previous quarter of Q 4 of FY 22 Hindustan Petroleum Corporation: The oil marketing firm reported its highest quarterly net loss of Rs 10,196 on a sequential basis. Record refining margins were wiped out in Q 1 due to a freeze on petrol and diesel price revision. In Q 1 there was 94 crore, compared to a year ago's net profit of 1,795 crore.

Tata Motors will buy Ford Motor's manufacturing plant in Gujarat for Rs 726 crore $91.5 million. The agreement between Tata Passenger Electric Mobility Ltd TPEML and Ford India Pvt Ltd FIPL covers land, assets and all eligible employees.

One 97 Communications: The digital financial services firm that operates under the Paytm brand said its consolidated loss increased to Rs 644.4 crore in the first quarter ended June 30. The company had a net loss of 380.2 crore a year ago.

FSN E-commerce: The omnichannel, which operates under the Nykaa brand, reported a 42 per cent increase in net profit to Rs 5 crore in the April-June quarter of FY 23 against a net profit of Rs 3.52 crore in the same period a year ago.

Raymond: The textile major posted a net profit of Rs 157.10 crore for the first quarter of June against a net loss of Rs 157.10 crore during the April-June quarter.

Godrej Properties wants to add new housing projects worth around 15,000 crore this fiscal year by purchasing land outright and forming joint ventures with landowners.