Stocks to Watch today, Aug 07: Yatharth, TD Power, RIL, BoB, GNFC, Zen Tech

Stocks to watch on August 07, 2023: Shares of consumer discretionary such as Dixon Tech and Amber Enterprises are expected to be in focus after government relaxed curbs on laptop imports.

Stocks to Watch on Monday, August 07, 2023: The equity markets are likely to start this week’s trade on a quiet note, with focus on the upcoming RBI policy and global trend. 

Most economists expect RBI to maintain status quo on rates on August 10. Whereas a repo rate cut according to Business Standard poll seems likely only from the first quarter of the next financial year (Q1FY25).

At 07:40 AM, the GIFT Nifty futures quoted at 19,606 as against the spot Nifty 50 close of 19,517 on Friday.

Meanwhile, these stocks are likely to see some action in trade on Monday.

 

Yatharth Hospital & Trauma Care: The company’s Rs 687 crore IPO was subscribed 36.2 times, with strong demand from all segments, led by Qualified Institutional Investors. The Grey Market Premium (GMP) indicates a likely 20 per cent listing gain for the stock.  

Earnings Watch: Balmer Lawrie, Barbeque Nation, Bayer Cropscience, Emami, GHCL, GIC Housing, Gland Pharma, GNFC, Godrej Consumer Products, HLE Glascoat, India Cements, Jubilant Industries, Krishna Institute of Medical Sciences, Lloyds Steel, Max Healthcare, PolicyBazaar, Ramco Cements, RateGain Travel, Keystone Realtors, Sobha, SPARC, Tata Chemicals, Torrent Pharma and Whirlpool are some of the prominent companies scheduled to announce June quarter earnings on Monday.

Consumer discretionary: Shares of Dixon Technologies and Amber Enterprises among others are expected to be in focus after government relaxed curbs on laptop imports. The notification stated that import consignments can be cleared until October 31 without a licence and permit would be required from November 1. READ MORE

Reliance Industries (RIL): The company to seek shareholders approval to give Mukesh Ambani another 5-year term as MD till 2029 at nil salary. Meanwhile, the recently demerged Jio Financial Services, which “will leverage the prowess of digital and retail businesses”, was expected to be listed soon, the annual report stated. READ MORE

TD Power Systems: InGovern Research, a voting advisory firm, has red-flagged governance concerns at the company, ahead of its annual general meeting (AGM) to be held on Wednesday. READ MORE

Tata Motors: The auto major is looking to expand sales outlets in Tier II and Tier III cities in order to cater to the increased demand for its electric model range.  The company had sold around 19,000 electric vehicle units in Q1, is also looking to have a separate sales infrastructure for its electric vehicle portfolio going ahead.

Metropolis Healthcare: The firm is eyeing 60 per cent of its revenues from the business-to-consumer (B2C) segment in the next two-three years. The company’s current share in the segment is 52 per cent. In FY24, the company also plans to add 30 labs across India. READ MORE

Bank of Baroda (BoB): The state-run banks net profit zoomed 87.7 per cent to Rs 4,070 crore for the quarter ended June 2023 as against Rs 2,168 crore in the corresponding quarter a year ago. Total income rose by 48.5 per cent year-on-year (YoY) to Rs 29,878 crore.

Britannia Industries: The company’s net profit surged 35.6 per cent in Q1FY24 to Rs 457.6 crore from a year ago period. Net sales rose 8.6 per cent YoY to Rs 3,969.8 crore.

Angel One: The broking firm reported a 45.5 per cent YoY growth in its client base to 15.65 million in July 2023 from 10.75 million in July 2022. 

McLeod Russel India: The bulk tea producer has reached an understanding with electrode paste maker Carbon Resources, owned by the Jalans, for sale of tea estates. The size of the deal pegged at Rs 700 crore would enable debt resolution with lenders.

Balkrishna Industries: The company’s net profit slipped 2.3 per cent YoY to Rs 312.28 crore in Q1FY24. Total income declined 19.1 per cent to Rs 2,223.70 crore.

Parag Milk Foods: The company’s net profit soared 66.2 per cent YoY to Rs 18.30 crore in Q1FY24. Total income was up 4.7 per cent at Rs 742.63 crore.

Zen Technologies: The company’s net profit jumped nearly 6-fold to Rs 47.13 crore in Q1FY24 as against Rs 8.21 crore in Q1FY23, backed by a near about 4-fold growth in total income at Rs 135.08 crore.

Cantabil Retail India: The company’s board is scheduled to meet on August 12 to consider a proposal for stock split.

Primary Market Update

SBFC Finance: The IPO which closes today has so far was garnered 7.1 times subscription.

Concord Biotech: The Rare Enterprises backed IPO was off to a slow start, with up to 58 per cent subscription on Day 1 of the offer period. The IPO closes on August 08.