 "Stocks to Watch on Aug 4: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL")
Stocks to Watch on Friday, August 4: Equity markets will continue to track global cues and June quarter (Q1FY24) results on Friday. At 7:50 AM, Gift Nifty was quoting at 19,484 as against Nifty50's spot close of 19,382 on Thursday and Nifty Futures' previous close of 19,472.
Globally, Asia-Pacific markets were mixed on Friday as rising bond yields continue to put pressure on equities. Japan’s Nikkei 225 and South Korea's Kospi were down 0.08 per cent each, Australia's ASX dipped 0.045 per cent, while Hong Kong's Hang Seng surged 1.25 per cent. China's Shanghai Composite was also half a per cent higher.
Overnight, the S&P 500 fell 0.25 per cent in the US, while the Dow Jones Industrial Average lost 0.19 per cent and the Nasdaq Composite inched down 0.1 per cent.
Here's a list of stocks to watch today:
Q1FY24 results on August 4, 2023: SBI, IDFC, Alembic Pharmaceuticals, Bharat Dynamics, Dilip Buildcon, Gujarat State Petronet, IRB InvIT Fund, JK Tyre & Industries, JSW Holdings, Mahindra & Mahindra, C.E. Info Systems, Mold-Tek Packaging, Nesco, Shipping Corporation of India, Tata Investment Corporation, Axiscades Technologies, Computer Age Management Services, Century Plyboards, Edelweiss Financial Services, Everest Industries, Fineotex Chemical, Housing & Urban Development Corporation, IG Petrochemicals, IKIO Lighting, Kolte-Patil Developers, MOIL, SML Isuzu, Tatva Chintan Pharma Chem, TCI Express, Bhagiradha Chemicals & Industries, Indraprastha Medical Corp, Nava, NGL Fine-Chem, Nucleus Software Exports, Rain Industries, Aditya Birla Fashion and Retail, Authum Investment & Infrastructure, Britannia Industries, Bharat Heavy Electricals, CESC, Delhivery, Devyani International, Fortis Healthcare, Vardhaman Textiles, Welspun Corp.
Zomato: Food aggregator platform Zomato turned profitable for the first time ever in the first quarter (Q1) of 2023-24 (FY24). The firm reported a consolidated profit after tax of Rs 2 crore compared to a loss of Rs 186 crore in the year-ago period. Revenue from operations grew 71 per cent year-on-year.
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Bharti Airtel: Leading telecom operator Bharti Airtel touched the magical ARPU figure of Rs 200 a month for the first time in a decade. Meanwhile, it reported a flat consolidated net profit of Rs 1,612 crore in Q1FY24.
Lupin: Pharma major Lupin, on Thursday, recorded a consolidated net profit of Rs 453.33 crore for the June quarter of FY24, as against a consolidated net loss of Rs 86.8 crore reported in the same period a year ago. While revenue surged nearly 29 per cent YoY, Ebitda margin jumped to 18.5 per cent, up 1,190 basis points from last year.
Eicher Motors: The two-wheeler maker, on Thursday, reported a 50 per cent surge in consolidated net profit at Rs 918.34 crore for Q1FY24. The company claimed that this is its best ever Q1 performance, and is also the fourth consecutive quarter of highest ever revenue from operations and PAT.
Paytm: Fintech company Paytm, on Thursday, said its average monthly users rose by 19 per cent on-year to 93 million. Merchant subscriptions stood at 8.2 million, with 4.1 million new subscriptions over the year, according to the filing.
The fintech platform doled out 4.3 million loans in the month of July, making the total value of loans distributed in the month to Rs 5,194 crore, at a whopping yearly growth of 148 per cent.
CDSL: The company has informed the exchanges that a warning letter, dated July 31, 2023, has been issued by Sebi against the company, which was received on Thursday, August 3.
Torrent Power: Torrent Power Ltd (TPL) has entered into an agreement with subsidiaries of Shapoorji Pallonji & Company Private Limited (SPCPL) for the supply of 132 MW solar power in Gujarat. The estimated project cost is Rs 700 crore.
Separately, Torrent Power has forayed into the electric mobility infrastructure segment with four charging stations in Gujarat. The first set of charging stations have been installed in Ahmedabad
GAIL (India): GAIL (India) is close to finalising a long-term liquefied natural gas (LNG) import deal with Qatar to buy at least 1 million metric tons per year, potentially for more than 20 years, Reuters has reported. The deal would be part of GAIL's plans to lock in new supply contracts by 2030 to diversify its gas imports and hedge against supply disruptions like those seen after Russia's invasion of Ukraine last year, when LNG prices surged to a record high.
Vedanta: S&P Global Ratings on Thursday revised the credit outlook for Vedanta Resources Ltd to negative, citing increased funding risks. The agency has affirmed the 'B-' rating for the company.
Piramal Pharma: The company's revenue from operation grew by 18 per cent YoY in Q1FY24 to Rs 1,749 crore driven by broad base performance across all three businesses – CDMO, CHG and ICH. Meanwhile, It narrowed its net loss to Rs 99 crore from Rs 109 crore YoY. Ebitda margin climbed to 10 per cent relative to 6 per cent in Q1FY23.
LIC Housing Finance: LIC Housing Finance on Thursday reported a 43 per cent YoY rise in net profit at Rs 1,324 crore for the June quarter, while it clocked 28 per cent YoY growth in interest income at Rs 6,304 crore. LIC HF has appointed T Adhikari as the managing director for five years, effective August 3.
Mahanagar Gas: MGL, on Thursday, reported a two-fold increase in consolidated net profit to Rs 368.4 crore in Q1FY24, on account of decline in domestic gas and LNG prices. Revenue from operations increased marginally to Rs 1,690 crore, while Ebitda came in at Rs 560.22 crore. MGL's total gas sales volume for the quarter slipped to 3.412 mmscmd from 3.448 mmscmd in Q1FY23.
Deepak Nitrite: The company, on Thursday, reported a 36.1 per cent YoY decline in net profit to Rs 149.9 crore for Q1FY24. Ebitda declined 41.1 per cent YoY to Rs 209.7 crore, while Ebitda margin shrank to 11.9 per cent vs in 17.3 per cent YoY.
HCC: The Board has approved to raise funds up to Rs 300 crore via Rights Issue.
NBCC: The company won a contract worth Rs 301 crore to construct a hostel-cum-residential block at University of Delhi.
JM Financial: The board approved the appointment of Nishit Shah as the Chief Financial Officer in place of Manish Sheth effective October 1.