Stocks To Watch Today, Aug 9: Eicher Motors, LIC, Grasim, BDL, IRCON, SAIL

Stocks to Watch on Friday, August 9: Benchmarks Sensex and Nifty50 are likely to see a gap-up opening, buoyed by positive global cues.

At 6:31 AM, GIFT Nifty futures surged 230 points, trading at 24,367, suggesting a strong start for Indian stocks.

Asian markets were active, reflecting Wall Street’s performance. The Nikkei climbed 1.58 per cent, the Kospi advanced 1.60 per cent, and the ASX200 rose 0.60 per cent.

US stocks rebounded on Thursday after earlier declines this week. This recovery followed the latest weekly jobless claims data, which eased investor worries about the labour market and the overall US economy. Consequently, the S&P 500 gained 2.30 per cent, marking its best performance since November 2022. The Dow Jones rose 1.76 per cent, and the Nasdaq jumped 2.87 per cent.

 

On the domestic front, foreign institutional investors (FIIs) sold shares worth Rs 2,626.73 crore on August 8, while domestic institutional investors (DIIs) bought shares worth Rs 577.30 crore.

Here are a few stocks to keep an eye on for August 9:

Earnings Watch: Bajaj Consumer Care, Grasim Industries, Info Edge India, SJVN, Sundaram-Clayton, Sun TV Network, Suven Pharmaceuticals, Bharat Dynamics, Zydus Life, Alkem Labs, oratories, Apollo Micro Systems, Siemens,  Berger Paints India, EIL, India Cements, Inox Wind, IRB Infrastructure Developers, Jubilant FoodWorks, Trent, Wockhardt

Listing: Ola Electric Mobility is set to be listed on the Mainboard, while Picture Post Studios and Afcom Holdings will debut on the SME market today.
 

LIC: In Q1FY25, new business premiums surged 26.96 per cent to Rs 58,470 crore, up from Rs 46,052 crore (Q1FY24). The total annual premium equivalent (APE) increased by 21.3 per cent to Rs 11,560 crore. The net value of new business (VNB) grew 23.65 per cent to Rs 1,610 crore. Net profit climbed 9.6 per cent to Rs 10,461 crore.

Biocon: The company reported a 550.6 per cent increase in profit to Rs 659.7 crore in Q1FY25, up from Rs 101.4 crore in Q1FY24. Revenue rose marginally 0.3 per cent to Rs 3,432.9 crore, with other income increasing to Rs 1,134.5 crore.

Oil India: For Q1, Oil India saw a profit decline of 9.1 per cent Y-o-Y to Rs 1,466.8 crore from Rs 1,613.4 crore. However, revenue, excluding excise duty, grew 17.7 per cent to Rs 5,331.9 crore.

Sobha: Sobha's Q1 profit fell 49.8 per cent to Rs 6.1 crore from Rs 12.05 crore, with revenue declining 29.5 per cent to Rs 640.4 crore.

Va Tech Wabag: The company saw a 10.5 per cent Y-o-Y increase in profit to Rs 54.8 crore, up from Rs 49.6 crore. Revenue grew 13.3 per cent to Rs 626.5 crore.
 

Eicher Motors: The company's Q1 profit saw an increase of 19.9 per cent Y-o-Y to Rs 1,101.5 crore from Rs 918.3 crore. Revenue grew 10.2 per cent to Rs 4,393 crore, up from Rs 3,986.4 crore. Ebitda rose 14.2 per cent to Rs 1,165.4 crore with an expanded margin of 26.5 per cent, compared to 25.6 per cent previously.

ABB India: In the second quarter of CY24, ABB India reported a 50 per cent Y-o-Y increase in profit to Rs 443.5 crore, up from Rs 295.6 crore. Revenue rose 12.8 per cent to Rs 2,830.9 crore. The board has declared an interim dividend of Rs 10.66 per share.

SJVN: SJVN Green Energy has commissioned the 90 MW Omkareshwar Floating Solar Project, raising SJVN's total installed capacity to 2,466.50 MW.
 

Gujarat State Petronet: The company reported a profit growth of 21.3 per cent Y-o-Y to Rs 526.5 crore, compared to Rs 434 crore. Revenue, excluding excise duty, increased 15 per cent to Rs 4,727 crore.

Container Corporation of India: Profit increased 5.8 per cent Y-o-Y to Rs 259.4 crore, while revenue rose 9.4 per cent to Rs
2,103.1 crore.

Utkarsh SFB: The RBI has approved an increase in authorized capital from Rs 1,500 crore to Rs 2,000 crore, along with amendments to the MOA.
 

SAIL: The company faced a 61.6 per cent drop in profit to Rs 81.5 crore, down from Rs 212.5 crore. Revenue fell 1.5 per cent to Rs 23,997.81 crore, impacted by an exceptional loss of Rs 311.8 crore due to employee allowances and a significant drop in other income to Rs 177 crore.

MCX India: SEBI has approved Praveena Rai’s appointment as the managing director & CEO of MCX, pending her acceptance and shareholder approval.

IRCON International: In Q1, IRCON International’s profit grew 19.6 per cent to Rs 224 crore from Rs 187.4 crore. However, revenue decreased 17.2 per cent to Rs 2,287.1 crore.
 

Bharat Rasayan: The company’s profit surged 508.2 per cent to Rs 43.1 crore from Rs 7.09 crore, with revenue growing 18 per cent to Rs 282.2 crore.

GAIL India: GAIL has partnered with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) to enhance operations at RRVUNL’s gas-based power plants and develop around 1,000 MW of solar and wind projects.

Shriram Finance: The company has entered a co-lending agreement with Axis Bank to provide financial assistance for LAP loans and new commercial vehicle loans.

Gateway Distriparks: The company has appointed Sundaram Aiyer as chief financial officer (CFO), effective August 8.