Indian headline indices ended with big cuts during the trading session on Friday as the traded took profit off-the table ahead of the upcoming Union Budget amid global IT outage. BSE Sensex tanked 738.81 points, or 0.91 per cent, to close at 80,604.65. The Nifty50 index cracked 269.95 points, or 1.09 per cent, to settle at 24,530.90 for the day. Here are the stocks that may remain under spotlight before the opening bell on Monday, July 22, 2024:
Q1 results today: Indian Overseas Bank, IDBI Bank, Suzlon Energy, Supreme Industries, UCO Bank, Coforge, Mangalore Refinery And Petrochemicals, ZF Commercial Vehicle Control Systems India, Poly Medicure, Zensar Technologies, Maharashtra Scooters, Allied Blenders & Distillers, Jana Small Finance Bank, Greenlam Industries and more will announce Q1 results later today.
Corporate actions today: Shares of Bemco Hydraulics, Carborundum Universal, DHP Chemicals, Chembond Chemicals, DHP India, Exide Industries, Taparia Tools, Happy Forgings, Divgi TorqTransfer Systems, Xpro India, Voltamp Transformers and more will trade ex-dividend today. Shares of NHC Foods will trade ex-split in 1:10 ratio today.
Reliance Industries: The Indian conglomerate reported a 5 per cent decline YoY in its consolidated net profit to Rs 15,138 crore for the first quarter ended June 2024. The same stood at Rs 16,011 crore in the year-ago period. Mukesh Ambani-owned firm's revenue from operations increased 12 per cent YoY to Rs 2.36 lakh crore in the reporting period.
HDFC Bank: The private sector lender reported a 2 per cent QoQ fall in net profit at Rs 16,175 crore. The bottomline was up 35 per cent YoY. India's leading private lender's net interest income (NII) rose 2.6 per cent sequentially to Rs 29,837 crore, compared to Rs 29,078 crore in the fourth quarter of FY24.
Wipro: The IT major clocked a 4.6 per cent YoY rise in net profit at Rs 3,003 crore in Q1FY25 , beating market expectations. The IT company’s April-June consolidated revenue fell 3.8 per cent to Rs 21,964 crore. The company has guided sequential revenue growth in the range of -1 per cent to 1 per cent in constant currency (CC) terms.
Kotak Mahindra Bank: The private lender announced its April-June 2025 quarter results, reporting a rise of 81 per cent YoY in net profit at Rs 6,249 crore, compared to Rs 3,452.3 crore in the corresponding period last year. The leading private lender's net interest income (NII) in the June quarter rose around 10 per cent YoY to Rs 6,842 crore.
HDFC Life Insurance Company: The Assistant Commissioner of Income Tax, Mumbai, issued an income tax rectification order reducing tax and interest demand for Assessment Year 2020-21 to Rs 1,868.12 crore, down from the previous demand of Rs 4,178.8 crore.
Oil and Natural Gas Corporation: ONGC Videsh signed a definitive sale purchase agreement to acquire 0.615 per cent participating interest in the offshore Azeri Chirag Gunashli oil field in Azerbaijan from Equinor. Additionally, it will acquire 0.737 per cent shares of the Baku Tbilisi Ceyhan pipeline company through its subsidiary ONGC BTC, totaling up to $60 million.
JSW Steel: The steel major reported a 64 per cent decline in its consolidated net profit at Rs 845 crore in the first quarter. Its revenue from operations in the June quarter increased 2 per cent year-on-year to Rs 42,943 crore. EBITDA for the reporting quarter fell 22 per cent YoY to Rs 5,510 crore, while margins declined 390 basis points to 12.8 per cent.
YES Bank: The private lender reported a standalone net profit of Rs 502.43 crore for the June 2024 quarter, up 47 per cent YoY over Rs 342.52 crore in the year ago period. The interest earned in the reported quarter stood at Rs 7,719.15 crore, higher by 19.8 per cent YoY. Net provision costs was lower by 41.2 per cent YoY and 55 per cent on the QoQ basis.
Vedanta: The metal mining company closed its qualified institutions placement (QIP) issue, raising Rs 8,500 crore by selling 19.31 crore equity shares at Rs 440 per share. Institutional investors including Morgan Stanley, Societe Generale, SBI MF, Nippon MF, ICICI Mutual Funds, and Copthall Mauritius Investment participated.
RBL Bank: The private lender reported a net profit of Rs 372 crore in the April-June 2024 quarter, 29 per cent higher YOY than Rs 288 crore in the year ago period. The lender’s gross NPA stood at 2.69 per cent in Q1FY25 versus 3.22 per cent last year. The net interest income of the bank was Rs 1,700 crore, 20 per cent higher YoY.
Patanjali Foods: The Baba Ramdev led FMCG company reported that its net profit has nearly tripled to Rs 263 crore in the first quarter ended June 2024. The same stood at Rs 88 crore in the last year quarter. Revenue from operations declined 8 per cent YoY to Rs 7,173 crore in the June quarter, compared with Rs 7,767 crore a year ago.
JSW Energy: The JSW Group firm reported an 84 per cent increase YoY in net profit at Rs 534 crore for the first quarter of FY25, driven by higher profitability in the thermal business and incremental contribution from renewable energy capacity additions. The Sajjan Jindal-led company's revenue from operations declined 1.7 per cent YoY to Rs 2,879 crore.
Indian Railway Catering and Tourism Corporation: The Government of India announced the up-gradation of IRCTC from 'Schedule B' to 'Schedule A' category, Central Public Sector Enterprises (CPSE).
JSW Infrastructure: India’s second-largest private commercial port operator acquired the Under Development Slurry Pipeline Project from JSW Utkal Steel, a wholly-owned subsidiary of JSW Steel, for Rs 1,700 crore. They will enter a 20-year long-term take-or-pay agreement to transport iron ore through the pipeline.
Jubilant Pharmova: The USFDA classified Jubilant Draximage Inc's radiopharmaceutical manufacturing facility in Montreal, Canada, as Voluntary Action Indicated following an audit in April 2024,
Allcargo Gati: The logistics company's total volume, including surface and air express, stood at 1,00,000 tonnes in June 2024, marking a marginal MoM decline of 3 per cent and a YoY decline of 2 per cent. The company reported a one per cent improvement in yield compared to the previous month, driven by a better product mix.
Anant Raj: The realty firm's subsidiary Anant Raj Cloud entered into a Memorandum of Understanding with Google LLC to collaborate on providing data center infrastructure, managed services, and cloud platforms to public and private enterprises. They also plan to develop innovative technological solutions for potential customers.
Netweb Technologies: The IT hardware company posted over three-fold jump in net profit to Rs 15.4 crore in the April-June quarter of 2024-25. The company had posted a net profit of Rs 5 crore in the same period a year ago. Total income increased to Rs 153.21 crore during the reported quarter from Rs 60.2 crore in June 2023 quarter.
EMS: The sanitation company has received a letter of acceptance (LoA) from the Uttarakhand Urban Sector Development Agency for the Development of Water Supply and Sewerage System in Vikas Nagar, Dehradun. The order value is Rs 535.19 crore, with EMS holding a 95% share along with another joint venture partner for an 18-year operation and maintenance period.