Stocks to Watch on July 7: Dabur, Titan, SBI Card, PSBs, Cipla, Sobha, IHCL

Stocks to Watch today, July 7, 2023: Titan Company has registered a 20 per cent year-on-year (YoY) consolidated revenue growth in Q1FY24

Stocks to Watch on Friday, July 7: Markets in Asia-Pacific were down for a second day after Wall Street sold off overnight on stronger-than-expected US jobs data, stoking fears that more rate hikes could be ahead by the Federal Reserve.

Hong Kong’s Hang Seng index fell 1.06 per cent, China's Shanghai Composite dropped 0.25 per cent, Australia's S&P ASX 200 tumbled 1.8 per cent, and Japan's Nikkei shed 1.13 per cent. Gift Nifty, meanwhile, was flat with a negative bias at 7:50 AM, quoting at 19,485 level.

Overnight, the Dow Jones Industrial Average dropped 1.07 per cent, the S&P 500 lost 0.79 per cent. and the Nasdaq Composite declined 0.82 per cent.

Here are the :

PSU banks: The finance ministry has apprised public sector banks (PSBs) of rising competition in the deposits segment in the aftermath of the recent merger of Housing Development Finance Corporation (HDFC Ltd) with HDFC Bank, which will now see home loan customers being tapped into by HDFC Bank for retail banking. 

IdeaForge Technology: Shares of IdeaForge Technology will debut at the bourses on Friday. The Rs 567-crore initial public offering was subscribed 106.6 times during June 26-30 period.

Dabur India: Dabur India's consolidated business, including recently acquired Badshah Masala, is expected to register over 10 per cent growth in the June quarter, the company said in a quarterly business update.

 It also expects its international business to report a strong performance with double digit growth in constant currency terms, driven primarily by softening of inflation in international markets.

Titan Company: It has registered a 20 per cent year-on-year (YoY) revenue growth in Q1FY24, with all key consumer businesses exhibiting double-digit growth.

While the jewellery division clocked 21 per cent growth, watches and wearables saw 13 per cent increase in revenue.

Tata Motors: Tata Motors has achieved a new sales milestone with Tiago sales crossing the 500,000-mark. The last 1 lakh units were sold within a span of 15 months, the company said.

Also Read: Stock Market Live: Asian indices fall as US jobs data raises rate hike bets

Tata Steel: The Tata Group company's consolidated production declined to 7.08 million tonnes (MT) in the first quarter of FY24. The company's consolidated production was at 7.67 MT during April-June of the preceding financial year, Tata Steel said in a statement. Consolidated deliveries, however, rose 7.97 per cent to 7.04 MT from 6.52 MT in the same period of the last fiscal.

Maruti Suzuki India: MSI, on Thursday, said it has started exports of its newly launched sporty compact SUV, Fronx, to destinations in Latin America, the Middle East, and Africa.

Cipla: Cipla has reportedly recalled six batches of Albuterol Sulfate Aerosol, 90 mcg.

Sobha: Sobha achieved its highest-ever quarterly sale value of Rs 1,465 crore in the June quarter, with a growth of 27.9 per cent over Q1FY23 and a marginal increase over Q4FY23. This was achieved with the highest-ever price realisation of Rs 10,506 per sqft on total saleable area of 1,394,117 sqft.  

Indian Hotels: IHCL accelerated its portfolio expansion in Q1FY24 as it signing of 11 hotels and opening 5 new hotels across destinations. With IHCL's current portfolio of 270 hotels, the company remains well poised to achieve its vision of over 325 hotels by 2025. 

State Bank of India, SBI Card: According to reports, the largest lender in the country is currently undergoing a restructuring of its senior leadership positions. Rajay Sinha, who currently serves as the Chief General Manager overseeing global markets, may become the Managing Director and Chief Executive of SBI Capital Markets. That apart, Abhijit Chakravorty could be appointed as Managing Director and CEO of SBI Cards. 

Indian Oil Corporation, Praj Industries: Indian Oil Corporation Limited and Praj Industries Limited have signed a term sheet to advance plans to strengthen biofuels production capacities in India.  

Separately, the Indian Oil Corporation Limited (IOCL), Chennai, has committed to investing Rs 54,000 crore in various projects in Tamil Nadu in the next few years, including a 9 MMTPA (million metric tonnes per annum) grass-root refinery at an estimated cost of Rs 35,580 crore, its executive director and state head (TN & Puducherry) V C Asokan said here on Thursday/

Commercial Vehicle stocks: Shares of commercial vehicle (CV) makers, especially those that manufacture trucks including Ashok Leyland and Force Motors, would be in focus on Friday as Union road transport and highways minister Nitin Gadkari, on Thursday, approved the draft notification to mandate the installation of air-conditioning systems in the cabins of trucks belonging to categories N2 and N3.  

Zee Entertainment Enterprises: The National Company Law Tribunal (NCLT) Thursday adjourned the hearing in the Sony-Zee merger case to July 10.

NTPC: Based on achievement of approved norms and due approvals, Unit-2 of 660 MW capacity of Stage-I (3 x 660 MW) of Barh Super Thermal Power Project in the State of Bihar, has successfully completed trial operation and consequently included in the installed capacity of NTPC Limited. With this, installed capacity of NTPC Limited and NTPC group has become 57038 MW and 73024 MW, respectively.

Aster DM Healthcare: The company has acquired additional 2.36 per cent stake in Malabar Institute of Medical Sciences Ltd (MIMS), a material subsidiary of the company, from several minority shareholders. Consequent to the said acquisition, shareholding of the company in MIMS has increased from 76.01 per cent to 78.37 per cent. 

Healthcare Global Enterprises: The company has entered into a Share Purchase Agreement with Dr Ajay Mehta, Dr Suchitra Mehta, shareholders of NCHRI, and NCHRI, for the acquisition of entire equity share capital in NCHRI. The company, while completing the acquisition of shares of NCHRI, would also acquire the entire partnership interest of Dr Ajay Mehta in HCG NCHRI Oncology LLP; and\ both NCHRI and HCG NCHRI LLP would become wholly owned by the company.

Shyam Metalics: The company reported that there has been an increase of 12.7 per cent in sale volume of Sponge Iron as compared to the previous quarter (Q4FY23), whereas realisations have dropped by 7.7 per cent. Moreover, sales volume of Steel Billets increased by 19.7 per cent in Q1FY24 sequentially, while realisations have dropped by 3.8 per cent. Sales volume of Long Steel, too has decreased 8.2 per cnt QoQ in Q1FY24, while realisations have dropped by 3.6 per cent.