Indian benchmark indices settled sharply lower on Wednesday on the back profit booking. BSE Sensex tumbled 426.87 points, or 0.53 per cent to end at 79,924.7780. The Nifty50 index cracked 108.75 points, or 0.45 per cent, to settle at 24,324.45 for the day. Here are the stocks that may remain under spotlight before the opening bell on Thursday, July 11, 2024:
Q1 results today: Tata Consultancy Services, Anand Rathi Wealth, Nelco, GTPL Hathway, GNA Axles and Amal are among the companies that will announce their earnings for the June 2024 quarter later today.
Corporate actions: Bharat Seats, Century Textiles and Industries, Orient Hotels, Route Mobiles, Sky Industries, Vimta Labs and Sinclair Hotels will trade ex-dividend today. Shares of Alliance Integrated Metaliks will be trading ex-bonus in 2:1 ratio today.
State Bank of India: The nation's largest PSU lender raised Rs 10,000 crores through its sixth infrastructure bond issuance at a coupon rate of 7.36 per cent. The proceeds will be used to enhance long-term funding for infrastructure and affordable housing.
Power Grid: The power transmission company has approved borrowing funds of up to Rs 16,000 crore during FY25-26 through domestic bonds. These bonds could be secured, unsecured, non-convertible, non-cumulative, redeemable, taxable, or tax-free bonds under private placement.
Life Insurance Corporation: The state-run life insurer has appealed against an Assam state tax order demanding GST of Rs 17.53 crore, interest of Rs 17.61 crore, and a penalty of Rs 1.75 crore for FY 2018-19.
YES Bank: The private lender's ratings have been affirmed by the rating agency Moody's, which also changed its outlook for the lender to stable from positive. In other news, The lender's $5 billion stake sale is reported to attract lenders from the Middle East and a few Japanese entities.
Siemens: The industrial automation major, as part of a consortium along with RVNL, has secured an order from Bangalore Metro Rail Corp for electrification of Bengaluru Metro phase two project.
Zydus Lifesciences: The drugmaker and its subsidiaries received final approval from the USFDA to market Sacubitril and Valsartan Tablets. This combination drug treats chronic heart failure in adults, reducing the risk of death and hospitalization. The tablets will be manufactured in Ahmedabad, India.
Glenmark Life Sciences: The drugmaker's promoters Glenmark Pharmaceuticals and Glen Saldanha will divest up to a 7.85 per cent stake in the company through an offer for sale (OFS) to meet the minimum public shareholding requirements. The promoter entities intend to sell up to 96.17 lakh shares of the company through the OFS
Aarti Industries: The specialty chemicals company's board has approved a dividend to be paid on or before August 31.
IRB Infrastructure: The infrastructure and its InvIT IRB Infrastructure Trust reported an increase in toll revenue for the month of June 2024 by 35 per cent to Rs 517 crores. In Q1FY25, their combined toll revenue surged 32 per cent to Rs 1,556 crore, against Rs 1,183 crores in Q1FY24.
Sula Vineyards: The wine-maker announced its highest-ever Q1 net revenue. Their own brand's revenue was Rs 104.4 crore, Wine Tourism was Rs 113 crore, and overall net revenue was Rs 129.6 crore.
Kesoram Industries: The diversified company reported a net loss of Rs 62 crore for the first quarter, which has widened from Rs 32.4 crore posted in the last year period.
GE Power India: The power generation company's board approved the sale and transfer of two undertakings. Its hydro business will be sold to GE Power Electronics (India) Private Limited, while the gas power business will be sold to GE Renewable Energy Technologies. Both transactions will be executed as a slump sale.
JTL Industries: The metal pipe maker reported a net profit growth of 21 per cent YoY in the June 2024 quarter to Rs 30.7 crore crore, while revenue from operation rose 2.1 per cent and stood at Rs 515.38 crore for Q1FY25.
Meson Valves: The valve maker entered into a share purchase agreement with Milindpra Castings Private Limited, a newly incorporated company in the metal casting and foundry industry. Under this agreement, the company will acquire 7,033 shares of Milindpra Castings for a total consideration of Rs 70,330, priced at Rs 10 per share.