HDFC Bank, Suzlon Energy, and LTIMindtree: Shares to watch out for on Tuesday

Stocks in focus:

At 8:52 am, the GIFT Nifty was trading 146.95 points, or 0.75 per cent higher at 19711.45 levels, indicating a positive start to trading on Dalal Street on Tuesday.

HDFC Bank

HDFC Bank beat Zee Business Research estimates to report a 30 per cent jump in its net profit at Rs 11,952 crore in its first quarter (April-June).

The company's net interest income rose 21.1 per cent to Rs 23,599 crore, while the net interest margin remained flat sequentially at 4.1 per cent in the quarter under review.

The upbeat results raised investors' hopes as the bank's share jumped 2.07 per cent to Rs 1679.20 at the BSE on Monday. Good results can have an impact on the HDFC Bank share on Tuesday as it continues its excellent performance. 

Results on July 18

L&T Technology Services, ICICI Prudential Life Insurance, ICICI Lombard General Insurance Company, IndusInd Bank, Polycab, Heidelberg, and JSW Ispat Special Products will be in focus ahead of declaring their quarterly earnings on July 18.

LTIMindtree

The IT services and consulting company announced its April-June quarter results on Monday, registering an above-3 per cent jump to Rs 1151.5 crore in its quarter-on-quarter (QoQ) net profit.

The company's revenue from operations also rose marginally QoQ, from Rs 8,691 crore to Rs 8,702.1 crore, while its year-on-year net profit saw a growth of 4.15 per cent.

The company's share price rose 0.78 per cent on Monday to close at Rs 5,133.95. It can generate investor interest on Tuesday.

Tata Elxsi

Tata Elxsi announced its first quarter results on Monday, clocking a marginal rise of 2 per cent in its net profit to Rs 189 crore.

In its BSE filing, the company said that its revenue from operations also grew 17 per cent to Rs 850 in the quarter under review. The results were declared after the close of the stock market.

The company's share on the BSE dipped 0.30 per cent to Rs 7710.85. As the market opens on Tuesday, the share of the technology services firm will be the one to follow. 

Suzlon Energy

The share price of India's leading renewable energy company gained strength immediately after the market opened on Monday, rising to the day's high of Rs 18.45 on the BSE.

It settled 2.99 per cent higher at Rs 18.23 at the close of the market on Monday. The interest in the scrip came after the company inked a deal with Everrenew Energy Private Limited.

JSW Energy

JSW Energy had a lacklustre show on Monday as its share price plummeted 3.78 per cent to Rs 293.05 after a poor showing in its Q1 results.

The company declared its first-quarter results on Friday (July 14), reporting a 48 per cent decline in its net profit to Rs 290 crore. As the stock market opened on Monday, the company's shares started sliding.

At one point, the share price had fallen above 7 per cent, before recovering towards the end of the day. It will be interesting to see if the dismal showing of the share continues on Tuesday or if it recovers to a better performance.

Sheela Foam

Polyurethane (PU) foam manufacturer has announced two deals: a controlling stake in Kurlon Enterprises Limited (KEL) and a stake in Furlenco furniture. The company is acquiring a 94.66 per cent shareholding in KEL at an equity valuation of Rs 2,150 crore. It is also investing in a 35 per cent shareholding in HOK-Furlenco for an equity valuation of Rs 857.14 crore.

RPP Infra Projects

The company has received a letter of acceptance for a new project in Himachal Pradesh (Under NDB FUNDING) worth Rs 138.24 crore. RPP Infra Projects Limited, along with its JV Partner, Hs Engineers Associates, will invest in the project as per their capacity of holding and complete the above project within the decided timeline.

IDFC Ltd

Leading finance company, IDFC Ltd has re-appointed Mahendra N Shah as the Managing Director of the Company with effect from October 1, 2023, until September 30, 2024. 

Amara Raja Batteries

Foreign investor Clarios ARBL Holding LP is likely to exit the automotive battery manufacturer via a stake sale in a block deal on July 18, as per Zee Business research. The floor price has been set at Rs 651 per share. Clarios ARBL Holding LP holds a 14 per cent stake, or 2.39 crore shares, in Amara Raja.

Hathway Cable and Datacom

The cable TV and fibre internet provider has reported a 6.6 per cent year-on-year (YoY) growth in consolidated profit at Rs 22.36 crore for the quarter ended June FY24. Revenue increased by 11.6 per cent YoY to Rs 499.2 crore.

Landmark Cars

The company announced its quarterly results post-market on Monday, July 17. The auto dealer posted a 9.21 per cent decline in revenue from operations at Rs 936 crore YoY, and the after-sales service has seen a 12 per cent increase at Rs 191 crore.

Reliance Industries

After the demerger of Reliance Industries' financial services unit into Reliance Strategic Investments on July 20, Jio Financial Services would be included in a total of 19 NSE indices. Jio Financial Services will replace Reliance Strategic Investments. 

Delta Corp and Nazara Tech and Onmobile Global in focus

The Minister of State for Electronics and Information Technology of India, Rajeev Chandrasekhar, has requested the Goods and Services Tax (GST) Council reconsider the tax on online gaming.

Hindustan Aeronautics Ltd (HAL)

Defence forces will buy 97 'Made-in-India' drones worth over Rs 10,000 crore to keep an eye on China, Pakistan's borders.

Federal Bank

Federal Bank's subsidiary FedFina plans to raise money through an initial public offering after approval from shareholders.

Infosys

The Information Technology company has entered into a framework agreement with one of its existing strategic clients to provide Artificial Intelligence and automation-led development, modernisation, and maintenance services. The total client target spend over 5 years is estimated at Rs 16,400 crore. 

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