Titan, Bharti Airtel, IndiGo, Zomato and Eicher Motors among top stocks that may remain in focus today

Stocks to watch: At around 8:13 AM on Thursday, August 3, the GIFT Nifty futures traded 65.5 points lower, or 0.33 per cent at 19,518.5, suggesting a negative opening of the market. The domestic equity benchmark indices closed lower for the second day in succession on Wednesday (August 2) amid heavy selling in banking, financial services, and oil and gas stocks.

Weak economic data from the United States, the Eurozone, and China affected the domestic market as well as triggered caution across global equities. Among the prominent companies that announced their results on Wednesday, Titan missed Zee Business Research estimates, while IndiGo beat the analysts projections.

Investors on Thursday morning will react to quarter earnings from Engineers India, Gujarat Gas, Adtya Birla Capital, HPCL, Indian Overseas Bank, Mankind Pharma, Metropolis, Narayana Hrudayalaya, Quess Corp, Star Health, Vaibhav Global, and Sapphire Foods, who were about to announce their results Wednesday at the time of writing this report.

ZeeBiz takes you through a list of stocks that can make some impact today:
 

Results today, August 3

Bharti Airtel, Sun Pharma, Eicher Motors, LIC Housing Finance, Lupin, MRF, Dabur, Zomato, Radico Khaitan, Varun Beverages, Zydus Wellness, Blue Star, Cummins, HCC, JM Financial, Karnataka Bank, Cera, Clean Science, Deepak Nitrite, Adani Enterprises and Adani Power will announce their June quarter numbers today. 

Titan 

The Tata Group company reported its first-quarter results on Wednesday, reporting a 2 per cent year-on-year (YoY) fall in its standalone net profit at Rs 777 crore, down from Rs 793 crore in the year-ago period.

The company's total income grew 19 per cent YoY to Rs 10,306 crore.

It missed Zee Business Research estimates as its EBIT slipped 2 per cent YoY to Rs 1,103 crore as against Rs 1,121 crore in the year-ago period.

The company declared its results after the market closed on Wednesday, with its share falling 1.10 per cent to Rs 2,968.05.

IndiGo

InterGlobe Aviation, the parent company of IndiGo Airlines, reported a consolidated net profit of Rs 3,090.6 crore for the April-June period, compared to a net loss of Rs 1,064.3 crore for the corresponding period a year ago.

The company beat Zee Business Research estimates as it clocked a net income of Rs 16,683.1 crore as against Rs 12,855.3 crore in the corresponding period last year.

As per the analysts, IndiGo's quarterly net profit was estimated at Rs 1,320 crore and revenue at Rs 15,200 crore. 

The company also declared its Q1 results after market close. Its share slipped marginally by 0.18 per cent to Rs 2,565.75 on Wednesday.

Bharti Airtel

Bharti Airtel is estimated to file a 13.5 per cent sequential fall in its consolidated net profit to Rs 2,600 crore for the first quarter of FY23-24, according to Zee Business Research.

The analysts expect the telecom company to report a total income of Rs 36,800 crore for the quarter ended June 2023 compared to Rs 36,009 crore from the fourth quarter of FY23.

Analysts peg the private sector telecom major's average revenue per user (ARPU) — a measure of the income generated from each user — at Rs 198 for the three-month period.

After poor estimates of its Q1 results, the telecom company's shares traded 1.72 per cent down to Rs 876.25 on Wednesday.

Eicher Motors

Eicher Motors is also set to release its April-June quarter results on Thursday (August 3).

The parent company of Royal Enfield is estimated to report consolidated revenue of Rs 4,050 crore, up 20.3 per YoY, as per Zee Business Research estimates.

Eicher Motors had posted a revenue of Rs 3,397 crore in the same quarter last year.

However, the automaker's profit after tax is estimated to rise 39.9 per cent to Rs 855 crore.

Analysts estimate its earnings before interest, taxes, depreciation, and amortisation (EBITDA) to grow 18.6 per cent YoY to Rs 985 crore.

The company is feeling the heat after the launch of bikes like the Harley-Davidson X440 and Triumph Speed 400, which are coming in almost the same price range as the premium bike from Eicher Motors.

The company's shares struggled on the BSE on Wednesday as they were down 2.39 per cent to Rs 3,333.25 at market close.

Zomato

Food delivery company Zomato will be high on the sequential growth of higher food delivery orders and business from Blinket.

In the last quarter (Q4 FY23), Zomato had reduced its losses to Rs 188 crore from Rs 360 crore a year ago.

The company's shares were in a healthy state on Wednesday as they ended the day 1 per cent up at Rs 85.60. 

MRF 

The tyremaker is also set to declare its result on Thursday. The company had recorded a rise of 86 per cent in its consolidated PAT in the fourth quarter of the last financial year.

On June 13, MRF also became the first Indian company whose share price touched Rs 1 lakh. Ever since it declared its previous-quarter results, the share has jumped 11.21 per cent, from Rs 92,102 to Rs 1,02,433.45 at close today.

PC Jewellers 

Public sector lender State Bank of India (SBI) has taken PC Jeweller to the National Company Law Tribunal (NCLT) with a plea to initiate insolvency proceedings against the city-based jewellery manufacturer and retailer claiming a default. A Delhi-based principal bench of NCLT issued a notice to PC Jeweller last week directing it to file a reply over the plea filed by its financial creditor SBI under section 7 of the Insolvency & Bankruptcy Code.

Vedanta

The promoters of the company are to sell a 4.3 per cent stake through a block deal. Promoter Twin Star Holdings will sell 16 crore shares and will reduce from 46.4 per cent to 42.1 per cent. The deal will be at a 5 per cent discount from the current market price.

L&T Finance Holdings

Bain Capital will sell stakes in the company through a block deal. Bain Capital will sell 7.9 crore shares which is a 3.2 per cent stake in L&T Finance. 

Delta Corp and Nazara Tech 

The GST Council on Wednesday decided to levy a 28 per cent Goods and Services Tax (GST) on online gaming and casinos on the face value of bets at entry level, even though three states — Delhi, Goa, and Sikkim expressed dissent.

Hero MotoCorp  

Enforcement Directorate (ED) raided the residential and business premises of Hero Motocorp chairman Pawan Munjal in a foreign currency-related case. Foreign currency, cash, gold, and diamond jewelery worth Rs 25 crore were seized. 

Nykaa

Six executives, including Nykaa's marketing head, have left the company since April. Nykaa CEO, Falguni Nair is directly monitoring the marketing operations. A new CEO Rozita Nouruzi has been appointed for the Beauty business.

Tata Power Renewable Energy

Tata Power Renewable Energy has inked two separate pacts to supply a total of 350 MW of electricity from its solar projects to the Maharashtra State Electricity Distribution Company (MSEDCL).

HPCL 

Hindustan Petroleum Corporation Ltd (HPCL) on Wednesday reported a net profit of Rs 6,203.90 crore in April-June (the first quarter of the current fiscal 2023-24) compared with Rs 10,196.94 crore of loss in the same period a year back, according to a company's stock exchange filing. The profit was over 92 per cent higher than Rs 3,222.62 crore net profit in the preceding quarter.

Mankind Pharma 

Mankind Pharma on Wednesday reported a 66 per cent increase in consolidated net profit to Rs 494 crore in the June quarter. The company reported a net profit of Rs 298 crore in the corresponding quarter of 2022-23.

Sheela Foam

Sheela Foam on Wednesday reported a profit after tax of Rs 43.3 crore in April-June (the first quarter of current fiscal 2023-24) compared with Rs 42.5 crore in the same period a year back, according to a company's stock exchange filing. The profit was over 1.8 per cent higher. 

Pricol Ltd 

Auto components maker Pricol Ltd has reported a 55 per cent rise in its net profit for the April-June 2023 quarter at Rs 31.93 crore, the Tamil Nadu-based company said on Wednesday. The firm registered a consolidated net profit of Rs 20.59 crore registered in the same period last year.

Godrej Properties 

Realty firm Godrej Properties on Wednesday said its board has approved Rs 155 crore for repair work in its completed housing project 'Godrej Summit' at Gurugram, in Haryana after chloride was found in concretes used in the buildings.

JSW Steel 

JSW Steel Limited (“Company”) and JFE Steel Corporation (“JFE”) had completed the joint feasibility study and had in principle reached an agreement to establish a 50:50 joint venture company to manufacture cold rolled grain oriented electrical steel products (“CRGO”) in India

NMDC and Hindustan Copper

Parliament on Wednesday passed the Mines and Minerals (Development and Regulation) Amendment Bill with Rajya Sabha. Lok Sabha has already passed the Bill. The Bill will encourage the private sector in the exploration of critical and deep-seated minerals.

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