India headline indices settled with mild cuts on Monday ahead of the Union Budget due later today. The BSE Sensex fell 102.57 points, or 0.13 per cent, to close at 80,502.08, in the previous trading session. The Nifty50 index gave up 21.65 points, or 0.09 per cent to settle at 24,509.25. Here are the stocks that may remain under spotlight before the opening bell on Tuesday, July 23, 2024:
Budget shares: Stocks related to infrastructure, railways, defence, capital goods, power, real estate, financials, fertilizer, manufacturing, textiles, agrochemicals and more will be in focus ahead of the Union Budget 2024.
Q1 results today: Hindustan Unilever, Bajaj Finance, Torrent Pharmaceuticals, United Spirits, ICICI Prudential Life Insurance Company, SRF, Schaeffler India, Mahindra & Mahindra Financial Services, ICICI Securities, DCM Shriram, Kajaria Ceramics, DCM Shriram, ICRA, Heritage Foods and more will announce their June 2024 quarter results later today.
Corporate Action today: Shares of HCL Technologies, Shree Cement, Shriram Finance, Data Patterns (India), Goodyear India, Rainbow Children's Medicare, Novartis India, Tembo Global Industries and more will trade ex-dividend today. Shares of Almondz Global Securities will trade ex-split today.
Suzlon Energy: The wind energy player reported stellar growth in its consolidated net profit for the quarter ended June 30, 2024, at Rs 302 crore, up a 200 per cent YoY from Rs 101 crore posted in the year ago period. It's revenue from operations in the reported quarter stood at Rs 2,016 crore, rising 50 per cent YoY.
Federal Bank: The Reserve Bank of India has approved the appointment of Krishnan Venkat Subramanian as the Managing Director & Chief Executive Officer of Federal Bank for three years, effective September 23, 2024. Krishnan Venkat Subramanian was the Joint Managing Director of Kotak Mahindra Bank until April 2024.
Steel Authority of India: The company board of the state run metal player will meet on July 25 to consider the issue of non-convertible bonds (NCDs) or debentures through private placement.
Mangalore Refinery and Petrochemicals: The petrochem player reported a 92.8 per cent YoY decline in net profit at Rs 73.2 crore for the quarter ended June 30, 2024, compared to a net profit of Rs 1,014.8 crore in the year ago period. Its revenue from operations increased 10.4 per cent YoY to Rs 23,247 crore, but Ebitda dropped 70.7 per cent YoY to Rs 605.6 crore.
RailTel Corporation of India: The state-run railway firm company has received a work order from the Ministry of Railways for the design, development, implementation, operations, and maintenance of HMIS and an integrated empanelled hospital referral portal for Indian Railways, amounting to Rs 186.81 crore.
Cyient DLM: The electronic manufacturing services firm reported a 98.1 per cent YoY jump in net profit at Rs 10.5 crore for the first quarter that ended June 30, 2024. The company's revenue from operations increased 18.7 per cent to Rs 257.8 crore, while the Ebitda was flat at Rs 19.9 crore for the given quarter.
Oil India: The PSU company has signed a contract with Dolphin Drilling, Norway, for the hiring of the anchor-moored semi-submersible drilling unit Blackford Dolphin.
Jana Small Finance Bank: The recently listed lender reported an 89 per cent YoY jump in its net profit to Rs 171 crore for the April-June quarter. The lender had reported a profit after tax of Rs 90 crore in the year-ago period. The core net interest income grew to Rs 610 crore. The advances of the bank grew 25 per cent YoY to Rs 25,759 crore.
Indiabulls Housing Finance: The name of the shadow lender has been changed to Sammaan Capital, effective July 26 from Indiabulls Housing Finance Ltd.
Gensol Engineering: The engineering company has emerged as the winning bidder for 116 MW (150 MWp) of solar projects in Gujarat, with an approximate EPC revenue of Rs 600 crore.