Stocks To Watch On August 7: Real estate, SBI, Lupin, Tata Power, Bata

Stocks to Watch on Wednesday, August 7: Benchmarks Sensex and Nifty50 may open higher despite mixed global signals.

As of 6:31 AM, GIFT Nifty futures were up 84 points, trading at 24,140.5, suggesting a positive start for the Indian bourses.

Asian markets started the day lower, with Japan's Nikkei down 2.18 per cent and Australia's ASX200 falling 0.38 per cent. However, Korea’s Kospi bucked the trend, gaining 0.80 per cent. Traders in Asia are also awaiting Chinese trade data for July 2024.

In the US, markets rebounded with the Nasdaq and S&P 500 rising 1.03 per cent and 1.04 per cent, respectively, while the Dow Jones rose 0.76 per cent.

 

On the domestic front, foreign institutional investors (FIIs) sold shares worth Rs 3,531.24 crore on August 6, whereas domestic institutional investors (DIIs) bought shares worth Rs 3,357.45 crore.

Investors will be keeping a close watch on quarterly earnings reports and the Reserve Bank of India’s (RBI) monetary policy decision, scheduled for tomorrow, August 8.

Given these updates, here are a few stocks to monitor on August 7:

Earnings Watch: Godrej Cons, Apollo Tyres, Sula Vineyards, Welspun Corp, Zee Media Corporation, Chemplast Sanmar, Godfrey Phillips, Gujarat Pipavav Port, Happy Forgings, ITD Cementation, NHPC, NLC India, Coromandel International, KIMS, Dr Lal PathLabs, Aadhar Housing Finance, Abbott India, Aditya Birla Fashion and Retail, Lemon Tree Hotels.

Listing: Utssav Cz Gold Jewels is scheduled to list on the SME platform.

Real Estate stocks: The government has introduced an amendment that provides taxpayers with a choice for calculating long-term capital gains taxes on property purchases made before July 23, 2024. Taxpayers can now opt for either the new 12.5 percent rate without indexation or the previous 20 percent rate with indexation, allowing them to select the option that results in a more favourable tax outcome.

Tata Power: Tata Power's profit slipped 0.2 per cent to Rs 970.9 crore from Rs 972.5 crore, but revenue increased 13.7 per cent to Rs 17,293.6 crore from Rs 15,213.3 crore. Tata Power also announced plans to acquire a 40 per cent stake in Khorlochhu Hydro Power for Rs 830 crore and received board approval for the termination and delisting of its Global Depository Shares (GDSs) Programme.

SBI: State Bank of India will see Challa Sreenivasulu Setty appointed as Chairman for a three-year term starting August 28, with Rana Ashutosh Kumar Singh taking on the role of Managing Director. 

PB Fintech: PB Fintech posted a profit of Rs 60 crore, an improvement from a loss of Rs 11.9 crore. Revenue surged 52 per cent to Rs 1,010 crore from Rs 666 crore, while adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) jumped 117 per cent to Rs 49 crore and the adjusted Ebitda margin expanded to 5 per cent from 3 per cent.

Lupin: Lupin's profit surged 77.2 per cent to Rs 801.3 crore in Q1FY25 compared to Rs 452.3 crore in the previous year (Q1FY24). Revenue also saw an increase of 16.3 per cent, rising to Rs 5,600.3 crore from Rs 4,814 crore. Bosch experienced a 13.8 per cent growth in profit to Rs 465.4 crore from Rs 409 crore, with revenue up 3.8 per cent at Rs 4,316.8 crore, compared to Rs 4,158.4 crore.
 

Cummins India: Cummins India reported a 33 per cent increase in profit to Rs 419.8 crore from Rs 315.7 crore, with revenue up 4.3 per cent at Rs 2,304.2 crore compared to Rs 2,208.7 crore. The company saw a change in leadership, with Ashwath Ram resigning as managing director, and Shveta Arya appointed as additional director and managing director (designate).

Linde India: Linde India reported a 13.8 per cent increase in profit to Rs 113.7 crore from Rs 99.88 crore, but revenue fell 9.4 per cent to Rs 653.2 crore from Rs 721 crore.
 

VIP Industries: VIP Industries experienced a major profit drop of 93 per cent to Rs 4.04 crore from Rs 57.8 crore, though revenue rose slightly by 0.4 per cent to Rs 638.9 crore from Rs 636.1 crore. The company reported no exceptional gains compared to Rs 25.78 crore in the previous year.

PI Industries: The company reported a 17.2 per cent increase in profit to Rs 448.8 crore from Rs 382.9 crore, with revenue growing 8.3 per cent to Rs 2,068.9 crore from Rs 1,910.4 crore.

Gulf Oil: Gulf Oil India saw a 24 per cent jump in profit to Rs 84.3 crore from Rs 68 crore, with revenue increasing 10.1 per cent to Rs 894 crore from Rs 811.7 crore.

Rain Industries: Rain Industries saw a loss of Rs 44.9 crore in Q1FY25 compared to a profit of Rs 206.5 crore in the previous year. Revenue declined by 11.5 per cent to Rs 4,094.1 crore from Rs 4,627 crore.

Krsnaa Diagnostics: Krsnaa Diagnostics reported a 22.4 per cent increase in profit to Rs 17.9 crore from Rs 14.6 crore year-over-year, with revenue growing 22 per cent to Rs 170.2 crore from Rs 139.6 crore. The company also saw a change in leadership, with Prashant Pandurangrao Deshmukh resigning as CEO.
 

Bata India: Bata India saw a 62.8 per cent rise in profit to Rs 174 crore from Rs 106.9 crore, although revenue fell by 1.4 per cent to Rs 944.6 crore from Rs 958.1 crore. The company also reported an exceptional gain of Rs 133.95 crore.

Gujarat Gas: Gujarat Gas faced a 19.5 per cent decline in profit to Rs 329.8 crore from Rs 409.5 crore, while revenue grew 7.6 per cent to Rs 4,450.3 crore from Rs 4,134.2 crore. The company reported no exceptional gains this quarter, compared to Rs 55.69 crore in the previous quarter.

Gland Pharma: Gland Pharma saw a 26 per cent decrease in profit to Rs 143.8 crore from Rs 194.1 crore, despite a 16 per cent increase in revenue to Rs 1,401.7 crore from Rs 1,208.7 crore.

EIH: EIH reported an 8.8 per cent decline in profit to Rs 96.8 crore from Rs 106 crore, with revenue growing 5.7 per cent to Rs 526.5 crore from Rs 498.1 crore.

GR Infra: The construction company has emerged as the lowest bidder for establishing a transmission scheme for the integration of Tumkur-II REZ in Karnataka.
 

Fortis Healthcare: The company witnessed a 40.4 per cent increase in profit to Rs 173.98 crore from Rs 123.95 crore, with revenue rising 12.1 per cent to Rs 1,858.9 crore from Rs 1,657.4 crore.

Chambal Fert: Chambal Fertilisers and Chemicals saw a 32.4 per cent increase in profit to Rs 448.3 crore from Rs 338.6 crore, despite a revenue decline of 11.7 per cent to Rs 4,933.2 crore from Rs 5,589.3 crore.

Suzlon Energy: Suzlon Energy to acquire a 76 per cent stake in Renom Energy Services from the Sanjay Ghodawat Group in two tranches, beginning with a 51 per cent stake for Rs 400 crore and an additional 25 per cent stake within 18 months for Rs 260 crore.