Stocks to Watch on August 08: Nifty futures traded 17 points, or 0.09 per cent, lower at 19,664.50, signaling that Dalal Street was headed for a flat start on Tuesday. Here’s a slew of stocks that will be in focus today for various reasons.
Earnings Watch: Adani Ports, Chambal Fertilisers, Coal India, Dhampur Sugar, Dish Tv, EIH, GSFC, Gujarat Alkalies, Happiest Minds, Hester Biosciences, Hikal, Hindalco, IdeaForge Technology, IRCON, ITDC, Jet Airways, Jain Irrigation, Midhani, National Fertilizers, Oil India, Phoenix Mills, Religare Enterprises, Star Cement, Subex, Suven Life, Talbros Automotive, Tilaknagar Industries and Utkarsh SFB are some of the prominent companies scheduled to announce June quarter earnings today.
PSU Banks: Shares of state-run banks are likely to be in focus after the aggregate net profit more than doubled to Rs 34,418 crore in Q1 owing to treasury gains and healthy growth in net interest income (NII), backed by strong credit offtake.
Max Healthcare: The company’s Q1FY24 net profit jumped 27 per cent to Rs 291 crore as against Rs 229 crore in Q1FY23. Total income increased by 17 per cent year-on-year (YoY) to Rs 1,629 crore.
Bharti Airtel: The company has launched Airtel Xstream AirFiber, India’s first 5G wireless Wi-Fi service designed to provide internet to areas without fibre-based internet connections. The initial roll-out is in New Delhi and Mumbai.
Adani Green: The West Asian-based sovereign investment fund, Qatar Investment Authority, acquired a 2.7 per cent stake in Adani Green Energy for Rs 3,920 crore via block deals on Monday. Banking sources state that the proceeds will be used by the group to reduce its debt.
This investment comes hot on the heels of reports that the same fund is considering the acquisition of a 1 per cent stake in Reliance Retail Venture.
Reliance Industries (RIL): According to its annual report, the company has reset its battery pack production timeline, shifting it from 2023 earlier to 2024.
Tata Chemicals: The company’s Q1FY24 net profit dipped 8 per cent to Rs 587 crore as against Rs 637 crore in Q1FY23. Total income, however, was up 6 per cent YoY at Rs 4,218 crore.
Godrej Consumer Products: The company’s Q1FY24 net profit declined 8 per cent to Rs 318.82 crore as against Rs 345.12 crore in Q1FY23. Total income grew by 10 per cent YoY to Rs 3,448.90 crore.
BEML: The company has secured a contract worth Rs 3,177 crore from Bangalore Metro Rail Corporation for supply of rolling stock 5RS-DM.
RailTel Corporation of India: The company has won work order for monetization of network infrastructure services on revenue sharing model for a period of 10 years amount to Rs 700 crore from Pimpri Chinchwad Smart City.
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