Stocks to Watch, July 29: ICICI Bank, BHEL, SBI Card, Paytm, IndiGo, RNFI

Stocks to watch today, July 29, 2024: GIFT Nifty indicates a positive start for the benchmark equity indices on Monday. Here are buzzing stocks to watch during today's trading session

Stocks to Watch Today, Monday, July 29, 2024: Benchmark domestic indices, the BSE Sensex and the NSE Nifty50, are poised to start the week's first trading session on a bullish note amid positive global cues. In the US, Wall Street's major indices rallied on Friday, July 26, 2024, as US inflation data boosted optimism for a rate cut by the Fed soon. The tech-laden Nasdaq Composite jumped 1.03 per cent to 17,357.88, the S&P 500 advanced 1.11 per cent to 5,459.10 points, and the Dow Jones Industrial Average climbed 1.64 per cent to 40,589.34.

In Asia, Japan's Nikkei traded up 2.70 per cent, Hong Kong's Hang Seng up 0.10 per cent, South Korea's Kospi up 1.54 per cent, Shanghai Composite up 0.14 per cent, and the Asia Dow traded up 1.49 per cent on Monday morning.

 

At 7:10 AM, GIFT Nifty futures were quoting over 111 points higher at 25,708 levels.

Here is a list of stocks to watch today, July 29:

Q1FY25 Results on Monday: ACC, AGI Infra, Apollo Pipes, Arvind, Ask Automotive, Astec Lifesciences, Adani Total Gas, Aurobindo Pharma, Adani Wilmar, Balmer Lawrie & Co., Basant Agro Tech (India), Bharat Electronics, Consolidated Construction Consortium, Chemo Pharma Laboratories, Colgate-Palmolive (India), Compuage Infocom, CSB Bank, Data Patterns (India), DCM Nouvelle, Diana Tea Company, Elnet Technologies, Fredun Pharmaceuticals, Gala Global Products, Goodluck India, Hindustan Petroleum Corporation, India Cements Investment Services, IdeaForge Technology, Indo-Italian Remedial & Research Medicines, India Glycols, Indian Bank, Integrated Capital Services, ISMT, Jai Balaji Industries, Jindal Saw, Jindal Drilling and Industries, Kansai Nerolac Paints, KEI Industries, Kalyani Investment Company, Likhitha Infrastructure, Mangalore Chemicals & Fertilizers, Manraj Housing Finance, Vedant Fashions, Markolines Traffic Controls, Mayur Uniquoters, MKT Creators, Omax Autos, Panache Innovations, Pfizer, RattanIndia Enterprises, Sri Ramakrishna Mills, VCU Data Management, Vinati Organics, and Vinyoflex are scheduled to release their first-quarter earnings today.

Dr Reddy's Laboratories: Hyderabad-based pharma major's profit after tax (PAT) in the first quarter of FY25 dropped by 0.90 per cent year-on-year (Y-o-Y) to Rs 1,392.4 crore, while revenue from operations rose by 13.88 per cent Y-o-Y to Rs 6,757.9 crore, the company said in a regulatory filing.

Power Grid Corporation of India: State-owned Maharatna company reported a 3.52 per cent increase in consolidated net profit to Rs 3,723.92 crore in Q1 FY25 as compared with Rs 3,597.16 crore posted in the corresponding quarter last year. The company's revenue from operations dropped marginally to Rs 11,006.18 crore during the quarter as compared with Rs 11,048.13 crore posted in Q1FY24.

NTPC: State-owned power generation company reported a 12 per cent rise in consolidated net profit at Rs 5,506.07 crore for the June quarter, as against Rs 4,907.13 crore reported in the corresponding quarter of the previous fiscal year, the company said in an exchange filing.

ICICI Bank: The private sector lender's net profit in the first quarter of the current financial year (Q1FY25) jumped 14.6 per cent year-on-year (Y-o-Y), aided by treasury gains despite higher provisions. ICICI Bank's net profit stood at Rs 11,059 crore for Q1FY25, compared to Rs 9,648 crore in the corresponding period a year ago.

IndiGo: The leading airline company reported an 11.7 per cent fall in its consolidated net profit for the first quarter of FY25, a decline that may be attributed to rising fuel costs, higher forex rates, and an increase in maintenance expenses due to grounded aircraft. Indigo's consolidated net profit for Q1FY25 stood at Rs 2,728.8 crore, compared to Rs 3,090.6 crore reported in the corresponding quarter of the previous year.

IndusInd Bank: The private sector lender's net profit was nearly flat for Q1FY25, up 2 per cent year-on-year (Y-o-Y) to Rs 2,171 crore, due to higher provisions. Sequentially, IndusInd Bank's net profit dropped 8 per cent from Rs 2,349 crore in Q4FY24. The bank's net interest income (NII) jumped 11 per cent Y-o-Y to Rs 5,408 crore in the quarter under review, while other income increased 10 per cent to Rs 2,441 crore during the same period.

SBI Cards: SBI Cards and Payment Services' net profit during Q1FY25 remained flat at Rs 594 crore in the first quarter of the current fiscal, due to a rise in delinquencies. The company's net profit was reported at Rs 593 crore in the corresponding quarter of the previous fiscal. SBI Cards and Payment Services' total income during the quarter rose to Rs 4,483 crore, against Rs 4,046 crore a year ago.

Bharat Heavy Electricals (BHEL): Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL), has obtained an export order worth Euro 25.75 million or nearly Rs 230 crore from Thales Reliance Defence Systems (TRDS) for the manufacture and supply of Transmit Receive (TR) modules, the company said in a regulatory filing.

Paytm: The inter-ministerial panel that oversees investments linked to China is yet to give its approval to the company's proposal to invest in its payment aggregator arm, a top government official said on Friday, reported PTI.

Other Q1FY25 Result Reactions: Aarti Drugs, Ador Fontech, Amber Enterprises India, Apcotex Industries, Bandhan Bank, City Union Bank, ESAF Small Finance Bank, Electrosteel Castings, Gujarat Mineral Development Corporation, Gujarat Themis Biosyn, HT Media, Indergiri Finance, InterGlobe Aviation, IndusInd Bank, Kaynes Technology India, KEC International, KFin Technologies, Kiran Syntex, Mysore Petro Chemicals, Nelcast, Nuvama Wealth Management, Padam Cotton Yarns, Prabhat Telecoms, Punjab & Sind Bank, Grindwell Norton, Sanofi India, Sagar Cements, SEIL, Shree Kalpataru Exports, Shree Digvijay Cement, Shriram Finance, South India Paper Mills, Standard Packaging, and Unitech International.

IPO Corner

Shares of RNFI Services are scheduled to debut on the NSE SME on Monday. The company's shares are commanding a strong grey market premium (GMP) of 81 per cent, indicating a likely robust listing for the scrip.

The three-day subscription window of Aprameya Engineering and Trom Industries IPOs ends for subscription today; the former has seen 5.5 times subscription while the latter was subscribed 32.4 times at the end of Day 2 of the offer period.