Indian benchmark indices settled lower on Thursday amid weekly F&O expiry and cautious signs from the RBI in its monetary policy. BSE Sensex tanked 581.79 points, or 0.73 per cent, to end the day at 78,886.22. NSE's Nifty50 tumbled 180.50 points, or 0.74 per cent, to close at 24,117.00 for the day. Here are the stocks that may remain under spotlight before the opening bell on Friday, August 09, 2024:
Q1 results today: Siemens, Trent, Grasim Industries, Zydus Lifesciences, Info Edge (India), General Insurance Corporation of India, Alkem Laboratories, Berger Paints (India), Balkrishna Industries, Bharat Dynamics, IRB Infrastructure Developers, Metro Brands, Sun TV Network, CESC, Aarti Industries, Inox Wind and more will announce their June 2024 quarter results today.
Corporate Actions today: Shares of Balmer Lawrie Investments, Cellecor Gadgets, Rushil Decor, Maruti Infra and more will trade ex-split today. Shares of Sakuma Exports, Gujarat Themis Biosyn, Maruti Infra and more will trade ex-bonus today. Shares of Alkem Labs, ASK Automotive, Arvind Fashions, BHEL, Bharat Petroleum, CEAT, Equity Small Finance Bank, Hindalco, City Union Bank, Endurance Technologies, Kaycee Industries, Kolte Patil, KPIT Tech, Netweb Tech, MRPL, REC, RK Swamy and more will trade ex-dividend today.
Ola Electric Mobility: The Bengaluru-based pure player EV maker will make its stock market debut on Friday. The company had raised Rs 6,145.56 crore via IPO between August 2-6 by offering its shares at Rs 72-76 apiece in a lot size of 195 equity shares. The issue was overall booked 4.27 times during the bidding process.
Life Insurance Corporation of India: The state-run insurance major reported 9 per cent YoY rise in consolidated net profit at Rs 10,544 crore for the quarter ended June 30, 2024. The insurer's net premium income rose 16 per cent YoY to Rs 1.14 lakh crore in Q1FY25, while the solvency ratio of the insurer came in at 1.99 per cent.
GAIL India: The state-run blue-chip firm has joined hands with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) to optimize the operations of RRVUNL’s gas-based power plants in Rajasthan. Both parties will work together towards setting up around 1,000 MW of solar and wind projects.
Eicher Motors: The maker of Royal Enfield reported a consolidated net profit of Rs 1,101.46 crore for the quarter ended June 30, 2024, up by 20 per cent YoY. The two-wheeler manufacturer's total revenue from operations stood at Rs 4,393 crore for the quarter, rising 10 per cent YoY, while Ebitda rose 14.1 per cent YoY to Rs 1,165.5 crore in Q1FY25.
Shriram Finance: The shadow lender has signed a co-lending agreement with Axis Bank for extending financial assistance and/or credit facilities for LAP loans and/or new commercial vehicle loans.
ABB India: The electrification and automation major reported a 50.3 per cent YoY jump in net profit at Rs 443.5 crore for the second quarter that ended June 30, 2024. The company's revenue from operations increased 12.8 per cent YoY to Rs 2,830.9 crore. Ebitda jumped 55.6 per cent to Rs 542.5 crore, while Ebitda margin stood at 19.2 per cent in the reporting quarter.
MCX India: The Sebi has approved the appointment of Praveena Rai as the Managing Director & Chief Executive Officer of Multi Commodity Exchange of India (MCX). Praveena's appointment is subject to her acceptance of the offer and approval from the shareholders of MCX.
Steel Authority of India: The state-owned metal player reported a 61.5 per cent YoY decline in net profit at Rs 81.8 crore for the first quarter that ended June 30, 2024, due to lower net sales realisation and adjustments related to exceptional items. SAIL's revenue from operations dipped 1.5 per cent YoY to Rs 23,997.8 crore but the EBITDA surged 34.6 per cent to Rs 2,200 crore.
Nexus Select REIT: Global investment firm Blackstone plans to sell 33 crore units of its REIT firm 'Nexus Select Trust' for nearly Rs 4,500 crore through a block deal on the stock exchanges, according to sources. Blackstone currently holds around a 43 per cent stake in Nexus Select Trust. The block deal is likely to take place on Friday.
Sobha: The Indian real estate developer posted a fourth straight drop in quarterly profit to Rs 6.06 crore in Q1FY25, falling 50 per cent YoY, hurt by fewer launches and lower sales. The company's revenue from operations dropped 29.5 per cent YoY to Rs 640.3 crore.
SJVN: The state-run hydroelectric power generator's subsidiary SJVN Green Energy has commissioned the 90 MW Omkareshwar Floating Solar Project. With the commissioning of this project, the total installed capacity of SJVN has increased to 2,466.50 MW.
Biocon: The Biotechnology firm reported a 550.59 per cent YoY jump in net profit at Rs 659.7 crore for the first quarter that ended June 30, 2024. The company's revenue from operations increased 0.3 per cent YoY to Rs 3,432.9 crore, but the Ebitda dropped 13.2 per cent YoY to Rs 620.4 crore.
Utkarsh Small Finance Bank: The Reserve Bank of India has given its approval for an increase in the authorized capital from Rs 1,500 crore to Rs 2,000 crore, and the consequent amendment to the Memorandum of Association (MoA) of Utkarsh Small Finance Bank.