Stocks to watch, July 16: Vedanta, HUL, Lupin, SpiceJet, Jio Fin Services

Stocks to watch on July 16: Indian benchmarks Sensex and Nifty are expected to open flat today, following mixed global signals. 

At 6:40 AM, GIFT Nifty futures traded steady at 24,620, indicating a subdued start for the markets.

In the US, markets closed higher on Monday after Federal Reserve Chairman Jerome Powell suggested that rate cuts could come sooner despite ongoing inflation concerns. 

The Dow Jones set a new record again, closing 0.53 per cent higher, while the Nasdaq also reached a new intraday high, ending 0.40 per cent up. The S&P 500 rose 0.28 per cent.

Asian markets showed varied performance with Australia's ASX200 down 0.08 per cent and Korea's Kospi up 0.07 per cent. Japan's Nikkei climbed 0.71 per cent.

European markets closed lower, with Germany's DAX dropping 0.84 per cent and the UK's FTSE slipping 0.85 per cent.

Back in India, Wholesale Price Index (WPI)-based inflation continued its upward trend, reaching a 16-month high of 3.36 per cent in June from 2.61 per cent in May, driven by a base effect and higher food prices.

On July 15, foreign institutional investors (FIIs) were net buyers, acquiring shares worth Rs 2,684.78 crore, while domestic institutional investors (DIIs) sold shares worth Rs 331 crore.

Today, several companies are set to announce their Q1 earnings, including Bajaj Auto, Alok Industries, Agro Tech Foods, Century Textiles & Industries, Aditya Birla Money, L&T Finance, Network18 Media & Investments, TV18 Broadcast, Crisil, and DB Corp among others.

Meanwhile, here are few stocks to keep an eye on July 16:

SpiceJet: SpiceJet's consolidated net loss in the third quarter of 2023-24 stood at Rs 297.2 crore, as opposed to a net profit of Rs 112.1 crore in the corresponding period of 2022-23. The airline posted a consolidated net profit of Rs 127.4 crore in the fourth quarter of 2023-24. In the corresponding period of 2022-23, the airline had posted a net loss of Rs 124 crore.

Jio Financial Services: In Q1FY25, the net profit rose 0.64 per cent to Rs 312.6 crore compared to Rs 310.6 crore. Its revenue dipped 0.07 per cent to Rs 417.8 crore from Rs 418.1 crore.

Den Networks: In Q1FY25, the net profit climbed 6.8 per cent to Rs 45.5 crore versus Rs 42.6 crore. Revenue fell 9.4 per cent to Rs 247.5 crore from Rs 273.2 crore.

Udaipur Cement Works: the company reported a net loss of Rs 10.3 crore compared to a profit of Rs 4.2 crore. Its revenue, however, soared 31.9 per cent to Rs 324.8 crore from Rs 246.3 crore.

Unichem Laboratories: The USFDA completed an inspection at Unichem's Goa formulation facility from July 8-15, resulting in five observations related to procedural changes.

Lupin: Lupin has divested its US Commercial Women’s Health Specialty business to Evofem Biosciences Inc for up to $84 million, focusing on commercialising SOLOSEC (secnidazole) 2g oral granules.

Hindustan Unilever (HUL):  Hindustan Unilever has approved the sale of its Pureit water purification business to A O Smith India Water Products for $72 million (Rs 601 crore) on a slump sale basis.

Vedanta: Vedanta launched its Qualified Institution Placement (QIP) issue on July 15, setting a floor price of Rs 461.26 per share.

Century Textiles: Century Textiles & Industries Birla Estates, a wholly owned subsidiary, acquired a 5-acre land parcel in Gurugram for potential development yielding revenue exceeding Rs 1,400 crore.

JNK India:  JNK India secured an order worth up to Rs 50 crore from JNK Global, Korea, for a regeneration furnace for a refinery project in Oklahoma, USA.

Ujaas Energy: Ujaas Energy Ujaas Energy's board approved a bonus issue in the ratio of 1:4 and appointed Anurag Mundra as a wholetime director for a 5-year term, pending shareholder approval.

Angel One: In Q1FY25, its net profit surged 32.6 per cent to Rs 292.7 crore versus Rs 220.8 crore. Revenue spiked 74 per cent to Rs 1,405.5 crore compared to Rs 807.5 crore.

Hatsun Agro Product: In Q1FY25, the company's net profit increased 62.9 per cent to Rs 130.5 crore from Rs 80.1 crore. Its revenue rose 10.4 per cent to Rs 2,375 crore compared to Rs 2,150.6 crore. The company declared an interim dividend of Rs 6 per share.

Asian Hotels: Asian Hotels (North) Amritesh Jatia resigned as Chairman and Managing Director of Asian Hotels (North), effective July 15.

Zee Entertainment: The shareholders have approved plans to raise up to Rs 2,000 crore through a share sale. 

Balkrishna Industries: Balkrishna Industries completed the setting up of a mould manufacturing plant at its Bhuj unit with a capex of Rs 300 crore. 

Aster DM Healthcare: Aster DM Healthcare secured an anonymous complaint alleging the involvement of senior employees in unethical practices and professional misconduct. Allegations pertain to Aster hospitals located in Kannur and Calicut, Kerala. 

Macrotech Developers: The developer clarified on news reports of being in a pact with Valor Estate for the Mumbai residential project, saying it is continuously evaluating land acquisition via different modes, including through JDA. 

PC Jewellers: IndusInd Bank accepted a one-time settlement proposal from the company for unsettled dues in terms including cash, equity, release of securities, and mortgaged properties. 

Lemon Tree Hotels: Lemon Tree Hotels opened a 42-room hotel in Jamshedpur, Jharkhand.

Ex/record Dividend: Poonawalla Fincorp, Rane Engine Valve, Thirumalai Chemicals, TTK Healthcare, CDSL, Mahindra & Mahindra Financial Services, Nestle India, Lupin, IDFC, Dr. Reddy's Laboratories.

Ex/record AGM: Rane Engine Valve, Thirumalai Chemicals, TTK Healthcare, GE Power India, Mahindra & Mahindra Financial Services, Wipro, IDBI Bank, Dr. Reddy's Laboratories.

Ex/record Bonus Issue: MM Forgings. Moved out of short-term framework: GM Breweries, HPL Electric & Power, and IFB Agro Industries.