Stocks to watch on August 2: Nifty futures traded 23 points, or 0.12 per cent, lower at 19,779, signaling that Dalal Street was headed for a negative start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
Q1FY24 results today: Aditya Birla Capital, AIA Engineering, Ambuja Cements, Amrutanjan Healthcare, Arvind SmartSpaces, Adani Wilmar, Carborundum Universal, Dhanuka Agritech, Prataap Snacks, Engineers India, Firstsource Solutions, Fusion Micro Finance, Gateway Distriparks, Godrej Properties, Goodyear India, Gujarat Gas, HPCL, InterGlobe Aviation, Indostar Capital Finance, Indian Overseas Bank, Kirloskar Ferrous Industries, Kewal Kiran Clothing, KSB, Mankind Pharma, MAS Financial Services, Metropolis Healthcare, Narayana Hrudayalaya, Orient Electric, Paradeep Phosphates, Pricol, Prism Johnson, Quess Corp, Sapphire Foods India, Sheela Foam, SKF India, Strides Pharma Science, Titan Company, Vaibhav Global, VIP Industries, Vardhman Special Steels.
BEML: Shantanu Roy has assumed the charge of chairman and managing director with effect from August 1, 2023.
Hero MotoCorp: The company, on Tuesday, reported a 12 per cent decline in total sales at 3,91,310 units in July compared to total sales of 4,45,580 units a year ago.
Separately, the Exchanges have sought clarification from the company on report that the Enforcement Directorate has conducted raids against Hero Motocorp Executive Chairman Pawan Munjal and some others as part of money laundering probe. The company, in this regard, said “officials from the Enforcement Directorate visited two of their offices in Delhi and Gurugram, and the residence of Pawan Munjal. We continue to extend all cooperation to the agency”.
Power Grid Corporation of India: The company has approved an investment proposal for an 85 MW Solar PV power project at Nagda, MP, for an estimated cost of Rs 554.91 crore.
TVS Motor Company: The company has reported a 4 per cent increase in total sales at 3,25,977 units in July. Domestic two-wheeler sales registered a growth of 17 per cent to 235,230 units.
Eicher Motors: It registered a 32 per cent YoY growth in its total sales for July 2023 as the company sold 73,117 units, compared to 55,555 units in July 2022. International business, meanwhile, took a hit and went down by 22 per cent to 27,590 units in the previous month from 38,589 units last year.
Syrma SGS Technology: The company reported a consolidated total revenue of Rs 623.4 crore for Q1FY24, up by 59 per cent YoY, as compared to Rs 391.8 crore for the corresponding period last year, primarily driven by Automotive, Consumer and Industrial segments. The consolidated Ebitda was up by 64 per cent YoY to Rs 59 crore, and net profit 65 per cent to Rs 28.3 crore.
DLF: Promoter, Kushal Pal Singh, sold 14.4 million shares, representing its entire 0.59 per cnt stake in the company. The shares were sold via bulk deal for Rs 504.21 apiece.
Metro Brands: The footwear retailer, on Tuesday, reported an 11.6 per cent year-on-year (YoY) fall in net profit at Rs 93.5 crore for the quarter ended June 2023. In the quarter, total revenue stood at Rs 582.5 crore, up 14.7 per cent YoY. Ebitda margin, however, shrank 400bps to 32 per cent.
Metro Brands recorded the highest-ever quarterly sales of e-commerce sales (including omni-channel ) of Rs 61 crore.
Zee Entertainment: IDBI Bank has challenged NCLT’s order before NCLAT which had dismissed an application filed under Section 7 of IBC, 2016, against ZEEL.
Campus Activewear: According to reports, the counter is expected to see a block deal for eight million shares at a price of Rs 295-300 apiece.
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