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Stocks to Watch on Friday, August 11, 2023: Domestic equity markets are likely to start Friday’s trade on a tepid note, amid mixed cues from the global markets. Back home, concerns over high inflation and 10 per cent incremental CRR from August 12 onwards for banks, weigh on the investor sentiment.
At 07:45 AM, the GIFT Nifty futures quoted at 19,556 as against the spot Nifty 50 close of 19,543 on Thursday.
Meanwhile, these stocks are likely to be in focus on Friday.
Earnings Watch: A total of 639 companies are scheduled to announce June quarter results on Friday. Prominent among these are – ABB India, Apollo Hospitals, Atul Auto, BEML, BF Utilities, Cochin Shipyard, Coffee Day, City Union Bank, DB Realty, Dredging Corporation, Elgi Equipemnts, Eros Media, Glenmark, Godrej Industries, Hindustan Aeronautics, IFCI, IRFC, Jindal Saw, Jindal Steel, KPI Green, Max India, MTNL, Muthoot Finance, National Aluminium, Naukri, NHPC, NIIT, NMDC, Nykaa, ONGC, Patanjali, PFC, Pfizer, Raymond, RCF, Shree Renuka Sugars, Rico Auto, Shakti Pumps, SpiceJet, Sundaram Brakes, Sun Tv, Supreme Industries, Tarsons, Tide Water, Timken, TV Today, Uttam Sugar, Voltas and Wonderla Holidays.
Life Insurance Corporation of India (LIC): The company’s Q1 net profit more than doubled to Rs 9,543.71 crore for the quarter ended June 2023 when compared with Rs 4,831.65 crore in the same quarter a year ago. Its total premium income came in flat at Rs 98,363 crore.
Zee Entertainment: The stock is likely to be in focus for the second straight day, after the NCLT approved the Zee-Sony India merger on Thursday. READ MORE
HDFC AMC, REC, IDFC First: Shares of Power Finance Company (PFC), REC, HDFC AMC, IDFC First Bank, Astral, Cummins, Supreme Industries and Ashok Leyland are likely to be on investors radar as these eight companies will be included in the MSCI Global Standard Index.
Chemplast Sanmar: The company has completed its first phase of Rs 680 crore expansion plans. The new production block is designed and constructed based on best-in-class safety standards. It intends to complete the second phase, within the next eight months.
Shalimar Paints: The oldest paint company in India, is embarking on a journey to regain its sheen. Upgrading plant infrastructure, expanding research and development capacities, and fortifying the supply chain are the key focus areas. It also plans to tap into international markets. The investment in the first phase is Rs 200 crore. READ MORE
Godrej Consumer Products (GCPL): The company signed an agreement with Tamil Nadu government to set up a fast-moving consumer goods (FMCG) manufacturing unit in Thiruporur, Chengalpet district, for Rs 515 crore.
Hero MotoCorp: The company’s Q1 net profit grew 32.1 per cent to Rs 824.72 crore for the quarter ended June 2023 when compared with Rs 624.52 crore in the same quarter a year ago. Total income was up 6.4 per cent YoY at Rs 8,989.44 crore.
Apollo Tyres: The company’s Q1 consolidated net profit more-than-doubled to Rs 396.91 crore for the quarter ended June 2023 when compared with Rs 177.37 crore in the same quarter a year ago. Total income was up 5.5 per cent YoY at Rs 6,280.12 crore.
Transformers & Rectifiers India (TRIL): The company reported a net loss of Rs 10.98 crore for the quarter ended June 2023 as against a net profit of Rs 5.88 crore in the same quarter a year ago. Total income was down 48.1 per cent YoY at Rs 155.36 crore.
Lemon Tree Hotels: The company’s Q1 net profit more-than-doubled to Rs 27.57 crore for the quarter ended June 2023 when compared with Rs 13.589 crore in the same quarter a year ago. Total income was up 16.8 per cent YoY at Rs 224.61 crore.
GR Infraprojects: The company’s Q1 net profit declined 35.2 per cent to Rs 207.99 crore for the quarter ended June 2023 when compared with Rs 321.09 crore in the same quarter a year ago. Total income was down 12.2 per cent YoY at Rs 2,203.52 crore.
Mtar Technologies: The company’s Q1 net profit rose by 20.5 per cent to Rs 19.81 crore for the quarter ended June 2023 when compared with Rs 16.44 crore in the same quarter a year ago. Total income surged by 64.9 per cent YoY to Rs 156.37 crore.
Torrent Power: The company’s Q1 net profit slipped a wee but to Rs 478.88 crore for the quarter ended June 2023 when compared with Rs 480.77 crore in the same quarter a year ago. Total income, however, increased by 15.2 per cent YoY to Rs 5,483.54 crore.
Allcargo Logistics: The company’s Q1 net profit grew 3.5 times to Rs 198.26 crore for the quarter ended June 2023 when compared with Rs 57.37 crore in the same quarter a year ago. Total income, however, declined 37.8 per cent year-on-year (YoY) to Rs 571.42 crore.
Esab India: The company’s Q1 net profit soared 65.5 per cent to Rs 42.38 crore for the quarter ended June 2023 when compared with Rs 25.60 crore in the same quarter a year ago. Total income increased by 22.8 per cent YoY to Rs 300.77 crore.
Himatsingka Seide: The company reported a net profit of Rs 29.15 crore for the quarter ended June 2023 as against a net loss of Rs 54.73 crore in the same quarter a year ago. Total income was up 1.1 per cent YoY at Rs 686.54 crore.
Stocks in F&O ban: Balrampur Chini, Can Fin Homes, Chambal Fertilisers, Delta Corp, Granules India, Hindustan Copper, Indiabulls Housing Finance, Manappuram Finance and Zee Entertainment are the nine stocks in F&O ban period on Friday.
Primary Market Update
TVS Supply Chain Solutions: The Rs 880 crore IPO was subscribed up to 55 per cent at the end of Day 1 of the offer period, with retail quota subscribed 1.7 times. The issue closes on Monday.
