Indian benchmark indices settled slightly higher on Tuesday after the profit booking cut the gains for the day. All eyes are set on the US Fed's meeting outcome later this week. The BSE's barometer Sensex rose 99.56 points, or 0.12 per cent, to end the day at 81,455.40. NSE's Nifty50 added 21.20 points, or 0.09 per cent, to close at 24,857.30. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, July 31, 2024:
Q1 results today: Maruti Suzuki India, Mahindra & Mahindra, Coal India, Adani Power, Tata Steel, Ambuja Cements, Bank of Baroda, Bharat Heavy Electricals, Mankind Pharma, Godrej Properties, Prestige Estate Properties, Phoenix Mills, KPR Mill, Tata Investment Corporation, JBM Auto and more will announce their results for the June 2024 quarter later today.
Corporate actions today: Shares of Goel Food Products will trade ex-bonus in 4:1 ratio, while shares of Panorama Studios International will trade ex-split today. Shares of Aarti Pharmalabs, Bata India, CRISIL, Kamdhenu, DLF, Igarshi Motors, EIH, Saksoft, SRF and Sundaram Finance will trade ex-dividend today.
Infosys: The IT major has partnered with TDC Net, a Danish infrastructure provider, to transform TDC Net into a customer-centric technology company. The collaboration aims to modernize TDC Net's IT infrastructure, enhance customer experience, and optimize service costs. Infosys will implement AI-driven hyper-automation and consolidate TDC Net's IT systems.
GAIL: The state-run gas and utilities firm reported a 93 per cent YoY jump in net profit at Rs 2,723.98 crore in the first quarter of FY25, compared to Rs 1,412 crore in the previous fiscal year. Revenue from operations grew 5 per cent YoY to Rs 34,063.26 crore.
Indian Oil Corporation: The oil marketing company's net profit for the period was down 81 per cent YoY to Rs 2,643 crore from Rs 13,750 crore. Revenue from operations was down 2 per cent to Rs 2.15 lakh crore, compared to Rs 2.21 lakh crore in the previous fiscal year.
Tata Consumer Products: The Tata Group' FMCG arm reported a consolidated net profit of Rs 290 crore for Q1FY25, falling 8.5 per cent YoY from Rs 317 crore in the year-ago period. Revenue increased 16 per cent to Rs 4,352 crore in the three months ended June 30, 2024.
Varun Beverages: The PepsiCo bottler's net profit June 2025 quarter grew 26 per cent to Rs 1,253 crore for the June quarter. The company had posted a net profit of Rs 994 crore in the year-ago period. Revenue from operations increased 29 per cent to Rs 7,333.6 crore for the same quarter.
Dixon Technologies India: The consumer electronics maker has reported a 109 per cent YoY increase in consolidated net profit at Rs 140 crore for the June quarter. The company reported a 101 per cent rise in consolidated revenue to Rs 6,580 crore for the quarter.
Indus Towers: The telecom infra player approved a buyback of up to 5.67 crore equity shares, at a price of Rs 465 per share, representing approximately 2.1 per cent of the total number of equity shares of the company. It reported a 42 per cent increase in consolidated profit to Rs 1,925.9 crore.
Macrotech Developers: The real estate firm reported a 166 per cent YoY increase in consolidated net profit to Rs 476 crore for the quarter ended June 30, 2024, up from Rs 178 crore in the same period last year. Revenues from operations of Rs 2,850 crore represented a 76 per cent YoY growth, and adjusted Ebitda zoomed 107 per cent YoY to Rs 960 crore.
Torrent Power: The utility player reported an 88 per cent YoY increase in first-quarter profit. Consolidated net profit rose to Rs 972 crore in the April-June quarter. Revenue from operations rose 23.3 per cent YoY to Rs 9,034 crore. It has also acquired Torrent Urja 18 Private Limited for a cost of Rs 1,00,000. The company is involved in the business of hydrogen.
Granules India: The smallcap pharma player's net profit for the June 2024 quarter grew to Rs 135 crore, up from Rs 48 crore in the previous fiscal year. Revenue for the period grew 19.7 per cent to Rs 1,179.8 crore.
Exide Industries: The battery maker reported a 16 per cent increase in net profit at Rs 280 crore for the June quarter. Revenue from operations increased 6 per cent to Rs 4,313 crore in the same quarter.
Indiamart Intermesh: The new age internet-based market player reported consolidated revenue from operations of Rs 331 crore against Rs 282 crore in the corresponding fiscal period. Net profit for the reported quarter was Rs 114 crore, representing a margin of 30 per cent.
Oriental Rail Infrastructure: The railway infrastructure player secured an order worth Rs 1.92 crore from the Modern Coach Factory (MCF) in Raebareli, Indian Railways, for manufacturing and supplying 30 sets of seats and berths.
Balu Forge Industries: The castings and forgings player reported a 104.98 per cent YoY jump in net profit to Rs 34.16 crore in the April-June quarter of 2023. Revenue for the quarter rose by 56 percent YoY to Rs 175.3 crore.