Indian benchmark indices managed to end marginally lower on Tuesday after a volatile session on the Union Budget day. BSE Sensex fell 73.04 points, or 0.09 per cent, to close at 80,429.04 amid the budget volatility. The Nifty50 index shed 30.20 points, or 0.12 per cent to settle at 24,479.05. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, July 24, 2024:
Q1 results today: Larsen & Toubro, Axis Bank, Bajaj Finserv, SBI Life Insurance, Bajaj Holdings & Investments, CG Power & Industrial Solutions, Jindal Steel & Power, Oracle Financial Services Software, Petronet LNG, KPIT Technologies, Federal Bank, Hitachi Energy India, Indraprastha Gas, Sona BLW and more will announce its June 2024 quarter results later today.
Corporate actions today: Shares of Avadh Sugar, Dynamic Cables, Elgi Equipments, Fiem Industries, Hatsun Agro Products, Indo-Count Industries, Laxmi Machine Works, Privi Specialty Chemical and more will trade ex-dividend today.
Hindustan Unilever: The FMCG major reported a 3 per cent YoY rise in net profit to Rs 2,538 crore in Q1FY25 from Rs 2,472 crores in Q1FY24. The company's total sales for the April-June quarter rose 2 per cent YoY at Rs 15,523 crore. Ebitda margin as a percentage of the turnover stood at 23.8 per cent which was up by 170 bps.
Dr Reddy’s Laboratories: The drug major's board will meet on July 27 to consider the sub-division of existing equity shares, including the American Depository Shares.
Bajaj Finance: The shadow lender reported 14 per cent YoY growth in its consolidated net profit at Rs 3,912 crore for the first quarter ended June 2024. The profit was slightly below the Street estimate of Rs 3,947 crore. Net interest income (NII) for the reporting quarter advanced 25 per cent YoY to Rs 8,365 crore.
Vedanta: The metal minor company, at its board meeting on July 26, will consider the second interim dividend on equity shares, if any, for FY25.
ICICI Prudential Life Insurance Company: The private life insurer reported an 8.7 per cent YoY increase in net profit to Rs 225.4 crore in the April-June quarter of FY25 owing to a rise in expenses. The company reported a contraction in the measure of profitability—VNB margin to 24 per cent in Q1FY25.
United Spirits: The alcohol and brewery player reported a 1.7 per cent YoY rise in consolidated net profit to Rs 485 crore for the June quarter. Consolidated revenue from operations were up 7 per cent at Rs 6,238 crore in the first quarter of the current fiscal.
Tata Consumer Products: The Tat Group;s FMCG company has fixed July 27 as a record date for its Rs 3,000 crore rights issue. The rights issue price has been fixed at Rs 818 per share. The rights issue will open on August 5 and close on August 19.
Torrent Pharmaceuticals: The pharma player reported a 20 per cent YoY increase in net profit at Rs 457 crore for the first quarter that ended June 30, 2024. Its revenue from operations rose 10 per cent YoY to Rs 2,859 crore, while Ebitda increased 14.3 per cent to Rs 904 crore for the quarter.
Titagarh Rail Systems: The wagon maker has commenced the export of traction converters. The first batch of 8 converters was shipped to Titagarh Firema SpA (Titagarh Firema), Italy on July 19. This export is part of a 7.18 million euro (Rs 65 crore) order received by Titagarh Rail from Titagarh Firema.
South Indian Bank: The South-India based lender said the board members will meet on July 30 to consider raising funds via the issuance of equity shares through preferential issue and/or Qualified Institutions Placement (QIP) or any other methods on a private placement basis, or FPO.
Bajel Projects: The power utilities company has received contracts for the supply of goods and services for a transmission line package from PowerGrid Corporation of India, amounting to Rs 586.28 crore.