Stocks to Watch, July 26: Tech M, Cipla, UBL, Power Grid, Sobha, Sanstar

Stocks to Watch today, Friday, July 26: Anamudi Real Estates LLP, wholly owned by the Godrej Family, is likely to sell 5 per cent of its stake in Sobha via a block deal

Stocks to Watch Today, Friday, July 26, 2024: Global markets continue to remain volatile on Friday as Wall Street's major indices, S&P 500 and tech-heavy Nasdaq Composite, ended weaker on Thursday.

The broad market index lost 0.51 per cent, and Nasdaq fell 0.93 per cent. Meanwhile, the Dow Jones Industrial Average advanced 0.20 per cent.

In Asia, Japan's Nikkei traded up 0.27 per cent, Hong Kong's Hang Seng rose 0.85 per cent, and South Korea's Kospi increased 0.90 per cent, while Shanghai Composite and Asia Dow traded flat on Friday morning.

At 7:50 AM, GIFT Nifty futures were quoting over 36 points higher at 24,491 levels.

Here is a list of stocks to watch today, July 26:

Q1FY25 Results on Friday: Aarti Drugs, Accelya Solutions India, Ador Fontech, Amber Enterprises India, Apcotex Industries, Aro Granite Industries, Ashiana Housing, Bandhan Bank, Cipla, Chembond Chemicals, City Union Bank, ESAF Small Finance Bank, Electrosteel Castings, FGP, Gateway Distriparks, Gujarat Mineral Development Corporation, Gujarat Themis Biosyn, HT Media, Indergiri Finance, InterGlobe Aviation, IndusInd Bank, Intellect Design Arena, Jenburkt Pharmaceuticals, Jindal Hotels, Kaynes Technology India, KEC International, KFin Technologies, Kiran Syntex, Latent View Analytics, Laxmi Organic Industries, Mallcom India, Man Organisation, Mahashree Trading, Mysore Petro Chemicals, Nelcast, Nuvama Wealth Management, Padam Cotton Yarns, Power Grid Corporation of India, Prabhat Telecoms, Punjab & Sind Bank, Quick Heal Technologies, Sagarsoft (India), Grindwell Norton, Sanofi India, Sagar Cements, SBI Cards & Payment Services, SEIL, Shree Kalpataru Exports, Shree Digvijay Cement, Shriram Finance, South India Paper Mills, Standard Packaging, Sunil Agro Foods, Themis Medicare, Transcorp International, Unitech International, and Zenotech Laboratories.
 

Adani Green Energy: Billionaire Gautam Adani-led ports-to-power conglomerate said that its Q1FY25 profit almost doubled year-on-year, led by strong energy sales and increased operational capacity. The company's consolidated profit rose to Rs 629 crore in Q1FY25 from Rs 323 crore in the corresponding quarter of the previous fiscal year.

Canara Bank: The Bengaluru-based public-sector lender’s net profit during Q1FY25 jumped by 10.5 per cent year-on-year to Rs 3,905 crore, backed by non-interest income like fees and recoveries. The bank had posted a net profit of Rs 3,535 crore in Q1FY24. Sequentially, Canara Bank's profit increased by 3.94 per cent from Rs 3,757 crore in the quarter ended March 2024.

Tech Mahindra: The IT giant reported a 23 per cent year-on-year surge in its net profit for the first quarter of FY25. Strong cost measures, along with a drop in subcontracting costs by almost 200 basis points, helped the company achieve a healthy profit margin of Rs 851 crore. Bloomberg had estimated a net profit of Rs 873.6 crore, slightly above what the IT firm delivered.

Ashok Leyland: The company reported a 6 per cent decline in consolidated net profit during Q1FY25 to Rs 509 crore compared to Rs 544 crore in the corresponding period last year.

Other Q1FY25 Result Reactions: AU Small Finance Bank, Chalet Hotels, Chennai Petrochem Corp, Cyient, DLF, Glenmark Life Sciences, Go Digital General Insurance, Home First Finance Company India, Jupiter Wagons, Jyothy Labs, Laurus Labs, MGL, Motilal Oswal Financial Services, Mphasis, Nestle India, PNB Housing Finance, Praj Industries, The Ramco Cements, Tech Mahindra, United Breweries, Ujjivan Small Finance Bank, UTI AMC, Venus Pipes and Tubes.

Sobha: Anamudi Real Estates LLP, wholly owned by the Godrej Family, is likely to sell 5 per cent of its stake in Sobha via a block deal, according to reports. The company holds a 9.9 per cent stake in Sobha. The deal size is expected to be around $100 million.

SJVN:The company has received a Letter of Intent from the Government of Mizoram for the allotment of the Darzo Lui pumped storage project. The plant will be able to produce 2,400 MW of electricity and is expected to cost around 13,947.50 crore rupees to complete.

Indus Tower: The company has announced that its board of directors will meet on July 30, 2024, to review a proposal for the buyback of fully paid-up equity shares of the company.

New Listing: Shares of Sanstar are scheduled to debut on the bourses on Friday. Grey market premium indicates a likely listing gain of up to 25 per cent for the day.