Indian benchmark indices managed to post strong gains on Thursday as the buying interest in the IT stocks amid the results season pushed the headline indices to new record levels. BSE Sensex rallied 626.91 points, or 0.78 per cent to end at 81,343.46. The Nifty50 index surged 187.85 points, or 0.76 per cent, to settle at 24,800.85. Here are the stocks that may remain under spotlight before the opening bell on Friday, July 19, 2024:
Q1 results today: Reliance Industries, Wipro, JSW Steel, Bharat Petroleum Corporation, JSW Energy, Union Bank of India, ICICI Lombard GIC, Indian Hotels Company, Oberoi Realty, Patanjali Foods, Nippon Life India Asset Management, One97 Communications, Tejas Networks, Atul and more will announce their quarterly results later today.
Corporate actions: Shares of Elecon Engineering company will trade ex-split, while Siddhika Coatings will trade ex-bonus today. TCS, LIC of India, Abbott India, Apcotex, Arvind, Blue Star, Bosch, Chennai Petrochem, Cummins India, Chola Finance, Delta Corp, Graphite India, ICRA, JSW Infra, PDS and more will trade ex-dividend today.
Infosys: The IT major reported a consolidated PAT of Rs 6,368 crore for the quarter ended June 30, 2024, marking a 7.1 per cent increase from Rs 5,945 crore reported in the year-ago period. The revenue from operations for the quarter stood at Rs 39,315 crore, reflecting a 3.6 per cent rise YoY. The IT major also upped revenue growth forecast
Dr Reddy’s Laboratories: The pharma major signed a non-exclusive patent licensing agreement with Takeda Pharmaceutical Company to commercialize Vonoprazan tablets in India. Vonoprazan is a novel, orally active potassium-competitive acid blocker (PCAB) used to treat reflux esophagitis and other acid peptic disorders.
Tech Mahindra: The software developer has approved a plan to merge its step-down subsidiary, vCustomer Philippines (Cebu) Inc, with its parent company, vCustomer Philippines Inc. vCustomer Philippines Inc. is a wholly owned subsidiary of Tech Mahindra. The merger is subject to regulatory approvals in the country of incorporation.
L&T Technology Services: The engineering and IT services provider reported a 0.8 per cent YoY increase in net profit at Rs 313.6 crore for the first quarter that ended June 30, 2024. The software company reported revenue of Rs 2,461.9 crore for Q1, a 3 per cent decline QoQ and 7 per cent rise YoY.
Tata Consumer Products: The Tata Group company's capital raising committee of the board will meet on July 23 to consider the rights issue price and related payment mechanisms, rights entitlement ratio, the record date, and the timing of the issue. The board had approved a rights issue worth Rs 3,000 crore in January 2024.
Vodafone Idea: The telecom company's capital raising committee has approved the second tranche of the allotment of 41,52,02,701 equity shares worth Rs 614.5 crore at an issue price of Rs 14.80 per share, to Nokia Solutions and Networks India and Ericsson India, vendors of the company, on a preferential basis.
Tata Technologies: The Tata Group's latest debutant reported a net profit of Rs 162.03 crore for the June quarter of FY25, down 15.4 per cent YoY. Revenue was better at Rs Rs 1,268.97 crore, than Rs 1,257.53 in the year-ago period but was down 2.46 per cent QoQ.
Zydus Lifesciences: The USFDA has conducted an inspection at the company's injectables manufacturing facility at Jarod, Gujarat, from April 15 to April 23 this year. The USFDA has determined that the inspection classification of this facility is official action Indicated (OAI).
Dalmia Bharat: The cement maker's consolidated revenue from operations was down 0.2 per cent YoY at Rs 3,621 crore for the June quarter 2024. Its net profit increased 0.7 per cent at Rs 145 crore in Q1FY25. Volume for the reporting period increased 6.2 per cent YoY to 7.4 million tons. Dalmia Bharat's EBITDA increased 9.2 per cent YoY to Rs 669 crore.
Dixon Technologies: The Competition Commission of India (CCI) has approved the acquisition of up to 56 per cent shareholding of Ismartu India by Dixon Technologies.
JSW Infrastructure: The port player reported an 8.9 per cent YoY decline in net profit at Rs 292.4 crore for the first quarter that ended June 30, 2024. The company's revenue from operations increased 15 per cent to Rs 1,009.8 crore. EBITDA stood at Rs 514.7 crore in the first quarter of this fiscal.
Tanla Platforms: The software products posted a net profit of Rs 135.4 crore, while The company's revenue from operations rose 10 per cent to Rs 1,002.2 crore. Ebitda increased 3.5 per cent to Rs 188.6 crore in the first quarter of this fiscal.
JTL Industries: The metal pipe maker company opened its qualified institutions placement (QIP) issue on July 18. The floor price has been fixed at Rs 221.57 per share.
GPT Infraprojects: The civil construction company has received an order worth Rs 103 crore from NHAI, New Delhi, and Eastern Railway, Kolkata. The contract is an enhancement of the existing contract with NHAI and Eastern Railway, Kolkata.
South Indian Bank: The private lender posted a net profit of Rs 293.9 crore, up 45.07 per cent YoY, while its net interest income jumped from Rs 807.77 crore to Rs 865.77 crore, a growth of 7.18 per cent YoY. The firm’s gross non-performing assets (GNPA) declined by 63 bps to 4.5 per cent, while the net NPA dropped 41 bps to 1.44 per cent.