Stocks to watch: At around 8:39 AM on Wednesday, August 2, the GIFT Nifty futures traded 71.5 points lower, or 0.36 per cent at 19,746.5, suggesting a negative opening of the market.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Both benchmark indices slipped 0.1 per cent on Tuesday, with the Sensex losing 68.4 points to end at 66,459.3 and the Nifty settling at 19,733.6, down 20.3 points from its previous close.

Nifty Bank finished the day 0.13 per cent down at 45,592.5. Meanwhile, Nifty FMCG, financial services, auto and realty ended in the red.

On the day, automakers like Maruti Suzuki, Tata Motors, Bajaj Auto, and many others released their vehicle sales results. 

Here is a list of stocks that will be in focus today: 
 

Results today, August 2

Titan, HPCL, InterGlobe Aviation (IndiGo), Indian Overseas Bank, Godrej Properties, Aditya Birla Capital, Gujarat Gas, Engineers India, Mankind Pharma, Star Health, VIP Industries, Firstsource Solutions, Quess Cop, Ambuja and Adani Wilmar will announce their June quarter numbers today. 

Titan

Zee Business Research estimates this Tata Group company to report a standalone net profit of 10.1 per cent at Rs 873 crore for the April-June quarter of FY24.

The analysts estimate that the company which manufactures watches, eyewear, and jewellery, can clock standalone revenue of Rs 10,753 crore compared to Rs 8,961 crore for the corresponding quarter last year.

Titan's earnings before interest, taxes, depreciation and ammortisation (EBITDA) can be Rs 1,302 crore, an 11.9 per cent jump from the year-ago period. 

The company's share finished the day flat at Rs 3,006.20. With the company expected to register good Q1 results, its shares can be on investors radar.

Maruti Suzuki

Maruti Suzuki shares felt pressure on Tuesday, a day after reporting its Q1 results that fell short of analysts estimates.

The share ended the trading 1.06 per cent down to Rs 9,715.25. However, the company reported a 3 per cent jump in total sales at 1,81,630 units in July.

A rise in number can generate interest for the scrip on Wednesday, and it can be a stock to follow.

Hero Motocorp 

Hero Motocorp shares were under huge selling pressure after news surfaced of a raid by the Enforcement Directorate on the company's executive chairman, Pawan Munjal, on Tuesday morning.

The shares dipped 3.14 per cent to Rs 3,103.00 at the close of trading.

During the day, it had once fallen 5.34 per cent to Rs 3,032.10.

After the reports, the company's market valuation also fell by Rs 2,007.4 crore to Rs 62,010.87 crore. 

Mankind Pharma Ltd

On Tuesday, the company entered the large-cap segment, and it triggered buying interest for scrip, with the share price jumping 1.81 per cent to Rs 1,771 at market close today.

Its shares will be in the spotlight on Tuesday as the company is set to announce its first-quarter results.

ICICI Bank

The bank on Tuesday increased the funds-based lending rate (MCLR) by 0.05 percentage points — or five basis points - for August.

After the revision, effective August 1, the private sector bank's overnight MCLR stands at 8.40 per cent, according to its website.

The company's shares were 0.30 per cent down to Rs 995.10 at market close on Tuesday.

InterGlobe Aviation (Indigo)

The parent company of Indigo Airlines will also announce its Q1 results on Tuesday.

The company can bank on factors like GoFirst insolvency, strong passenger growth, and high airfares.

The airline's shares ended the day down 0.91 per cent to Rs 2,570. 

Tata Chemicals

Tata Chemicals has cut soda ash prices for the fourth time in FY24. The price is reduced by 5 per cent which will be effective from today.

Hero MotoCorp 

The company clarified that Enforcement Directorate conducted raids at the Delhi, Gurgaon offices and residence of Executive Chairman Pawan Munjal.

Bharti Airtel 

The company has set August 11 as the record date for the final dividend of Rs 4 per fully paid-up equity share and Re 1  per partly paid-up equity share for the financial year 2022-23.

Power Grid 

Board approves investment in 85 MW Solar PV Power Project at Nagda (M.P.) at an estimated cost of Rs 554.91 crore with an implementation schedule of 10 months.

Auto stocks in focus 

Automotive companies released their auto sales number for the month of July on Tuesday. 

Redington

Technology solutions provider reported a 21.2 percent year-on-year (YoY) decline in net profit at Rs 248.8 crore for the first quarter that ended June 30, 2023. In the quarter, total revenue stood at Rs 21,187.2 crore during the period under review, increased 26.1 percent against Rs 16,803.1 crore in the corresponding period of the preceding fiscal.

GE Power India Ltd 

The company received a letter of intent from Gujarat Electricity Corporation for Rs 444 crore on an EPC basis. The contract is for design, engineering, manufacturing, supply, and others. The work is estimated to be completed in 30 months.

Som Distilleries and Breweries 

The company got a go-ahead from Rajasthan Government to supply Indian Made Foreign Liquor brands in Rajasthan. Earlier only beer was allowed to be sold in Rajasthan. The impact is expected in the company's top line and bottom line in the medium term.

Sterling and Wilson Renewable Energy Ltd 

The company received Limited Notice to Proceed (“LNTP”) for an Engineering, Construction, and Procurement (“EPC”) order for a value of approx. Rs 360 crore for a project in India. 

Sula Vineyards Ltd 

The company received a notice from the Maharashtra Excise Ministry of Rs 115.89 crore. The company immediately filed a writ petition before the Bombay High Court challenging the order on August 1, 2023. The company has been legally advised that the demand notice is not valid in law.

Ashiana Housing

The buyback of shares window will open today, August 2, and will close on August 8. The price for the same is set at Rs 301 and the offer is to buyback 18.27 lakh equity shares.

MakeMyTrip

NASDAQ-listed travel services platform MakeMyTrip on Tuesday reported Earnings before interest taxes depreciation and amortisation or EBITDA of USD 25.9 million in the first quarter of FY24 ended June. The company had reported an EBITDA of USD 11.2 million in the year-ago period.

Anant Raj 

Anant Raj on Tuesday posted over a 104 per cent rise in profit after tax (PAT) to Rs 51 crore. It had reported a net profit of Rs 25 crore during the April-June period of the preceding 2022-23 fiscal, the company said in a regulatory filing.

Dalmia Bharat Sugar And Industries

Dalmia Bharat Sugar And Industries posted over a 13 per cent rise in PAT  to Rs 61 crore. It had reported a net profit of Rs 54 crore during the April-June period of the preceding 2022-23 fiscal, the company said in a regulatory filing.

Metro Brands

Home textiles major Welspun India Ltd reported a multi-fold rise in its consolidated net profit to Rs 162.73 crore for the first quarter ended June 2023, helped by higher margins. The company had posted a consolidated net profit of Rs 21.36 crore in the April-June quarter last fiscal, Welspun India said in a regulatory filing.

Orient Cement

C K Birla group firm Orient Cement Ltd on Tuesday reported a marginal decline in its net profit at Rs 37.03 crore in the June quarter. It had posted a net profit of Rs 37.41 crore in the April-June quarter a year ago, Orient Cement said in a regulatory filing.

Godrej Agrovet

Godrej Agrovet Ltd on Tuesday reported a 22 per cent increase in its consolidated net profit to Rs 107.08 crore in the first quarter of this fiscal. Its net profit stood at Rs 87.68 crore in the year-ago period. The total income rose marginally to Rs 2,521.73 crore during the April-June period of the 2023-24 financial year from Rs 2,517.53 crore in the year-ago period, according to a regulatory filing.

Thermax 

Thermax on Tuesday posted a marginal rise in its consolidated net profit at Rs 60 crore in the June 2023 quarter. Its consolidated net profit stood at Rs 59 crore in the year-ago period."The company's consolidated profit after tax (PAT) is Rs 60 crore (Rs 59 crore in April-June 2022), an increase of 2 per cent over Q1 FY23," a company statement said.

Triveni Turbine

Triveni Turbine on Tuesday posted over a 59 per cent rise in its consolidated net profit to Rs 61 crore, mainly due to higher revenues. The consolidated net profit of the company was Rs 38.3 crore in the quarter ended June 2022, a company statement showed. Its revenues from operations increased to Rs 376.4 crore in the quarter from Rs 259 crore a year ago.

HSBC India

Foreign lender HSBC on Tuesday reported an 18.75 per cent growth in its profit before tax at USD 766 million from India operations in the first half of 2023. The lender, which has 26 branches in the country, reported a Profit Before Tax (PBT) of USD 645 million in the January-June (H1) period last year.

Welspun Enterprises

Welspun Enterprises Ltd on Tuesday posted an 89 per cent rise in net profit to Rs 92.80 crore during the April-June quarter on account of higher income. The company had clocked a net profit of Rs 49.10 crore during the corresponding period of the preceding 2022-23 fiscal, the company said in a regulatory filing.

PVR INOX

Leading cinema exhibitor PVR INOX on Tuesday reported a consolidated net loss of Rs 81.6 crore for the June quarter. The company, earlier known as PVR Ltd, posted a net profit of Rs 53.4 crore in the April-June period a year ago, according to a regulatory filing.

Adani Total Gas

Adani Total Gas Ltd, the city gas joint venture of Adani Group and French energy giant TotalEnergies, on Tuesday, reported a 7 per cent rise in June quarter net profit on the back of higher CNG sales.Net profit of Rs 148 crore in April-June compared with Rs 138 crore a year back, the company said in a statement.

Ambuja Cement and Sanghi Industries

India's Ambuja Cements (ABUJ.NS) has reached a deal to acquire a majority stake in operations of Sanghi Industries (SNGI.NS), as per Reuters. This transaction will add heft to cement operations of billionaire Gautam Adani's firm.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.