Stocks to watch: IOCL, Axis Bank, Tech Mahindra, Nestle, Tata Consumer, Bajaj Finance, Netweb Technologies

At 8:15 am, the Gift Nifty was trading 19.5 points, or 0.10 per cent higher at 20,003.5 levels, indicating a positive start to trading on Dalal Street. On the global front, the Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, and Fed Chair Jerome Powell said the economy still needed to slow and the labour market to weaken for inflation to "credibly" return to the U.S. central bank's 2 per cent target.

That said, we bring you a list of stocks that are expected to trade actively today.

Results today, July 27 

Bajaj Finserv, Nestle India, Bharat Electronics, Coromandel International, Indus Towers, Intellect Design, Birlasoft, Dr. Lal Path Labs, Indian Energy Exchange, Indian Hotels, Laurus Labs, Shriram Finance, and ACC will announce their June quarter numbers today. 

IOCL

Indian Oil Corporation Limited is set to announce its first-quarter results on Friday (July 28).

Zee Business Research predicted the public sector undertaking would report a 6 per cent jump in its profit to Rs 10,673 crore in the April-June quarter as against Rs 10,058.70 crore the company filed in the previous quarter.

However, analysts estimate the company's revenue to slide 3.1 per cent, from Rs 202,994.1 crore in Q4 FY23 to Rs 196,741 crore in the first quarter of the current financial year.

Buyers showed interest in the scrip as it jumped 0.54 per cent to Rs 99.59 at market close on Wednesday. 

Tech Mahindra

Tech Mahindra reported disappointing Q1 numbers as its net profit fell 38 per cent to Rs 692.5 crore due to a sharp narrowing of the profit margins.

The company reported a net profit of Rs 1,131.6 crore in the corresponding quarter last year.

The company's revenue also declined 3.5 per cent to Rs 13,159 crore in the reporting quarter from Rs 13,718 crore in the January-March quarter.

The company's chief financial officer, Rohit Anand, attributed the narrowing of margins to a dip in service revenue, which had a 2 percentage point impact.

Zee Business Research had also predicted poor numbers for the company.

The company's share didn't fare well and slipped 0.84 per cent to Rs 1,144.05 on the BSE at market close.    

NetWeb Technologies

The shares of the company are slated to list on bourses today. 

Bajaj Finance

The non-bank lender clocked above-expectations first-quarter numbers on Wednesday as its net profit jumped 32 per cent to Rs 3,437 crore on record loan sales.

In its BSE filing, the company says that the overwhelming results came from record disbursals of loans that added 10 million new borrowers.

The company said that in the quarter under review, they added 38.4 lakh new customers, which took their overall customer base to 7.29 crore, up 21 per cent from 6.03 crore a year ago.

The company's shares didn't perform well and declined 2.29 per cent to close at Rs 7,431.05.  

Nestle

The FMCG major is all set to announce its March-June quarter results on Thursday, with Zee Business Research estimating a growth of 32 per cent in Nestle PAT, from Rs 515 crore in the corresponding quarter last year to Rs 679 crore in Q1 FY24.

Analysts say the company is likely to report a jump of 15 per cent in revenue at Rs 4,639 crore against Rs 4,037 crore year-on-year (YoY).

The company's share jumped 0.12 per cent to close at Rs 22,785 on Wednesday. 

Cipla

The pharma major announces a rise of 41.34 per cent in its consolidated PAT to Rs 998.07 crore in the April-June quarter, driven by good growth across markets, especially India and the US.

The company's consolidated revenue from operations in the first quarter also jumped from Rs 5,375.19 crore in the year-ago quarter to Rs 6,328.89 crore in the quarter under review.

Cipla's North America business fared well as it posted a 52 per cent jump in sales at Rs 1,822 crore as against Rs 1,199 crore in the corresponding period.

Axis Bank

The lender's Q1 net profit soared 40 per cent to Rs 5,797 crore in the first quarter, mainly because of a decline in bad loans and an improvement in interest income, as per its BSE filing on Wednesday.

The bank's total income in the April-June quarter rose to Rs 30,644 crore, while its interest income also increased to Rs 25,557 crore from Rs 18,729 crore in the corresponding quarter last year.

There was a lot of buying interest in the bank's share on Wednesday, as it jumped 1.45 per cent to close at Rs 976.85. 

Piramal Pharma

The board will consider various matters in connection with the Rights Issue, including the specific terms of the Rights Issue, such as the determination of the Rights Issue price, rights entitlement ratio, and the record date.

Rail Vikas Nigam Ltd

Indian government to sell 3.4 per cent stake or 7.089 crore shares through Offer for sale or OFS. The company will sell an additional 1.96 per cent stake or 4.09 crore shares under the Green Shoe option. The floor price for OFS fixed at Rs 119/share which is a discount of 11.4 per cent from the current price. OFS will open for non-retailer investors today and for retail tomorrow, July 28.

Reliance Industries

Jio Financial, and Blackrock to form Jointy Venture for asset management in India. Both companies will have a 50:50 stake in the JV. The initial investment of both companies will be $15cr-$15 Cr (approx Rs 1,235 crore will be invested by both).

Mahindra & Mahindra Financial Services 

The company's holding company M&M informed about the majority stake in a circular on Wednesday. M&M bought a 3.53 per cent stake in RBL Bank

for Rs 417 crore and plans to further increase stake in RBL Bank but the stake will not increase more than 9.9 per cent. 

Marico Ltd 

Agreement to acquire up to 58 per cent stake in Satiya Nutraceuticals worth Rs 3,69.01 crore. The company acquired a 32.75 per cent stake as of 26 July and a remaining stake of 25.25 per cent to be acquired by May 2025.

Central Depository Services (India)

The company through a regulatory filing announced that it has become the first depository to register 9 crore active demat accounts. 

TTK Healthcare

The company's delisting offer failed due to promoter/promoter group holding not exceeding 90 per cent after the delisting offer was made. The delisting offer opened on July 20 and closed on July 26.

Matrimony.com Ltd   

Madras High Court orders Ad Interim Injunction to stop Google from delisting the company's app. Under the interim arrangement, the court ordered Google to pay 4 per cent of the income of the company's in-app purchases.

Dr Reddy's Laboratories 

Dr. Reddy's Laboratories reported an 18 per cent increase in consolidated profit after tax at Rs 1,405 crore in the June quarter, fuelled by US generics and strong performance in Russia. The company had posted a consolidated profit after tax of Rs 1,189 crore in the same quarter a year ago, Dr. Reddy's Laboratories Ltd said in a regulatory filing.

Tata Consumer Products 

Tata Consumer Products Ltd (TCPL) reported a 29.67 per cent rise in consolidated net profit to Rs 358.57 crore in the first quarter ended June 30 on the back of strong growth in its domestic business. The company had posted a net profit of Rs 276.51 crore in the April-June quarter a year ago, TCPL, earlier known as Tata Global Beverages Ltd, said in a BSE filing.

Colgate 

FMCG major Colgate-Palmolive India Ltd reported a 30.52 per cent increase in its net profit to Rs 273.68 crore for the April-June quarter of 2023-24.

Aditya Birla Sun Life AMC

Aditya Birla Sun Life AMC, part of Aditya Birla Capital reported a 79 per cent jump in profit after tax to Rs 184.6 crore in the three months ended June.

REC

State-owned REC posted a 21 per cent rise in consolidated net profit to Rs 2,968.05 crore for the June quarter, primarily on the back of higher revenues. In the year-ago period, the profit stood at Rs 2,454.16 crore. 

Jindal Stainless

Jindal Stainless posted a 45 per cent jump in its consolidated net profit to Rs 737.58 crore in the April-June quarter on account of higher income.

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