There was a bear attack at Dalal Street on Monday as domestic benchmark indices crashed sharply, raising fears of recession in the US and geopolitical concerns in the middle east. BSE Sensex cracked 2,222.55 points, or 2.74 per cent, to settle at 78,759.40. NSE's Nifty50 took a beating of 662.10 points, or 2.68 per cent, to close at 24,055.60 for the day. Here are the stocks that may remain under spotlight before the opening bell on Tuesday, August 06, 2024:
Q1 results today: Power Finance Corporation, Vedanta, Tata Power Company, Bosch, Shree Cement, Cummins India, TVS Motor Company Solar Industries India, Lupin, Linde India, PB Fintech, PI Industries, Gujarat Gas, Fortis Healthcare, Gland Pharma and more will announce their June 2024 quarter results later today.
Corporate actions today: Shares of Bombay Oxygen, Grasim Industries, Ipca Laboratories, LT Foods, TCI Express, TD Power Systems, Usha Martin, West Coast Paper and more will trade ex-dividend today.
Reliance Industries: The Mukesh Ambani-led oil, telecom and retail major has announced to host its forty-seventh annual general meeting (post-IPO) of the company on Thursday, August 29.
Bharti Airtel: The telecom major's net profit swelled 158 per cent YoY to Rs 4,160 crore in Q1FY25, beating Street expectations. This was mainly helped by exceptional items. The net exceptional gain of Rs 735 crore comprised a gain of Rs 1,399.1 crore on account of a favourable judgement by the Supreme Court of India. Its revenue rose 2.8 per cent YoY to Rs 38,506 crore.
ONGC: The state-owned PSU firm reported 15 per cent YoY fall in its standalone net profit at Rs 8,938 crore in the first quarter ended June 2024. Revenue from operations in the same period increased 4 per cent year-on-year to Rs 35,266 crore. ONGC said it has declared a total of 5 discoveries in FY25 so far.
Lupin: The pharma company has announced the incorporation of Lupin Lanka (Private) Ltd in Sri Lanka as its wholly-owned subsidiary. It has received a centralized Show Cause Notice from the Maharashtra GST Authority, seeking recovery of Rs 336.2 crore in taxes, along with applicable interest and an equivalent penalty of Rs 336.2 crore for the period from July 2017 to March 2022.
Brigade Enterprises: The Bengaluru-based real estate developer reported a consolidated net profit of Rs 81 crore in the first quarter of FY25, increasing 285.7 per cent YoY. The realty player's revenue was at Rs 1,113 crore. Pre-sales bookings in the real estate segment for the period stood at 1.15 million square feet, with a sale value of Rs 1,086 crore.
Adani Energy Solutions: The Adani Group company has raised Rs 8,373 crore through a qualified institutional placement (QIP). The QIP opened last week.
Bharti Hexacom: The recently listed telecom and internet service provider more than doubled its net profit in the FY25 fiscal's first quarter, largely on the back of a Rs 318.3 crore exceptional gain. It reported a 102 per cent on-year rise in net profit in the June quarter to Rs 511.2 crore, further helped by strong mobile broadband user additions and average revenue (ARPU) growth.
Motherson Sumi Wiring India: The auto components maker reported 21 per cent YoY increase in net profit at Rs 148.87 crore for June quarter FY25 riding on strong revenue growth. Total revenue from operations in the period under review stood at Rs 2,184.84 crore, up 17 per cent YoY.
Biocon: The biopharma company has received an establishment inspection report (EIR) with voluntary action indicated (VAI) from the USFDA for its API facility in Visakhapatnam, Andhra Pradesh. The USFDA conducted a GMP inspection of the facility between June 17 and June 21.
Aster DM Healthcare: Nitish Shetty has resigned as Chief Executive Officer and Senior Management Personnel of the healthcare services player to pursue an entrepreneurial opportunity.