GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 52 points or 0.21% at 24,458 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 ended down by 8.50 points or 0.03% to settle at 24,315.95 while the BSE Sensex fell 27.43 points or 0.03% to 79,897.35.
“The main indices are trading in a narrow range, struggling to justify its premium valuation ahead of the Q1 earnings season, which is forecast to be subdued. However, the broader market is exhibiting marginal momentum, led by a shift in FIIs inflow and budget expectations,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Bharti Airtel, ONGC, BEML, Adani Energy Solutions, Bharti Hexacom, Lupin, Shree Cement
Also Read
Nair also added that attention is now focused on the US inflation data, which is estimated to moderate and positively influence Fed’s interest rate decisions.
Stocks to Watch on July 12, 2024
TCS
India’s largest IT services company reported an 8.7% year-on-year (YoY) increase in consolidated net profit, reaching Rs 12,040 crore for the first quarter ending June 30, 2024. The company also saw a 5.4% rise in revenue, totaling Rs 62,613 crore for the quarter.
GTPL Hathway
The company reported a 57.4% year-on-year decline in consolidated profit for Q1, falling to Rs 14.99 crore from Rs 35.2 crore. However, the company’s revenue increased by 8.9%, reaching Rs 843.4 crore compared to Rs 774.4 crore in the same period last year.
Anand Rathi Wealth
The leading non-bank wealth solutions firm reported a 37.9% year-on-year increase in net profit, reaching Rs 73.2 crore for the first quarter, compared to Rs 53.1 crore in the corresponding quarter of the previous year. The company’s revenue rose by 35.8%, totaling Rs 237.6 crore, up from Rs 175 crore in the same period last fiscal year.
RCF
The state-owned company announced that its board of directors has approved a Rs 514.6 crore contract with Topsoe for the revamp of its ammonia plant at RCF Thal. The contract includes the procurement of a basic engineering design package and the supply of proprietary equipment and catalysts to reduce specific energy consumption.
Vodafone Idea
Vodafone Idea has received shareholder approval to issue preferential shares to Nokia and Ericsson. The company informed investors via a stock exchange filing on July 11 that its shareholders had voted in favor of the preferential issue at an Extraordinary General Meeting (EGM).
Also Read
Adani Wilmar
An edible oil major announced the acquisition of a 67% stake in Omkar Chemical Industries Private (OCIPL). OCIPL, which manufactures various chemicals and compounds, operates a plant in Panoli, Gujarat, with an annual capacity of approximately 20,000 metric tonnes (MT) of surfactants.
Oriental Rail Infra
The company announced that its wholly-owned subsidiary, Oriental Foundry Private Ltd, has secured a Rs 432.16 crore order from Indian Railways. According to a stock exchange filing, the order involves the manufacture and supply of 1,200 BVCM-C wagons, as specified by the Railway Board.
LT Foods
The company has opened a new facility in Harlow, United Kingdom, and expects to generate annual revenue of 50 million pounds over the next two years, with a target of reaching 100 million pounds within the next five years.
Arvind
Ashish Kumar has resigned from his position as President & CEO – AMD & Essentials of the company, citing personal reasons. His resignation will take effect on August 10.
Dabur
The FMCG major announced that it has added two lakh outlets to its sales network in FY24, marking the highest addition by any FMCG company in the country. According to the latest annual report, Chairman Mohit Burman stated that 8 out of every 10 Indian households now use one or more Dabur products.
PFC
Sandeep Kumar has assumed the role of Director (Finance) on the board of Power Finance Corporation, effective July 11, following his appointment by the Central Government.
Indus Tower
Indus Towers announced on Wednesday that over 60% of its total tower installations in FY24 have been in rural India. This move supports the Government of India’s vision to bridge the digital divide and provide enhanced connectivity to villages.
Key Earrings to watch Today
HCL Technologies, Indian Renewable Energy Development Agency, Atharv Enterprises, Betala Global Securities, Gautam Gems, Golkonda Aluminium Extrusions, Indo Cotspin, Infomedia Press, JIK Industries, Oriental Hotels, Setco Automotive, Teamo Productions HQ, and Vipul will release their quarterly earnings scorecard on July 12.
