Stocks to watch on Thursday, July 18: Indian stock markets may see a higher start today, influenced by mixed global cues. At 6:40 AM, GIFT Nifty futures traded slightly higher at 24,672 levels, indicating a neutral to positive start.
In the US, the Dow Jones closed up 0.58 per cent, surpassing 41,000 for the first time, while the S&P 500 declined 1.39 per cent and Nasdaq fell sharply 2.79 per cent, marking its worst day since 2022. US investors are awaiting the Jobless claims data for the week ending July 13, which will be released later in the day.
Across Asia, markets mirrored Wall Street’s downturn with Australia’s ASX200 and Korea’s Kospi down 0.01 per cent and 1.01 per cent respectively, while Japan’s Nikkei dropped 2.01 per cent due to weaker-than-expected trade figures.
Domestically, foreign institutional investors were net buyers on July 16, acquiring shares worth Rs 1,271.45 crore, whereas domestic institutional investors sold shares worth Rs 529.48 crore.
Earnings watch
Today, several companies, including Infosys, L&T Technology Services, Persistent Systems, Dalmia Bharat, Ceat, Havells India, Central Bank of India, Andhra Cements, Grindwell Norton, JSW Infrastructure, Mastek, Newgen Software Technologies, Polycab India, and Tata Communications, are slated to announce their Q1 earnings, shaping market sentiment.
Meanwhile, here are few stocks to keep an eye on July 18:
Asian Paints: Asian Paints reported a 24.6 per cent decline in net profit to Rs 1,186.8 crore for Q1FY25, with revenue decreasing 2.3 per cent to Rs 8,969.7 crore. Earnings before interest, taxes, depreciation and amortisation (Ebitda) dropped 20.2 per cent to Rs 1,693.8 crore, resulting in a margin decrease to 18.9 per cent from 23.1 per cent on a year-on-year (Y-o-Y) basis.
LTIMindtree: LTIMindtree’s Q1FY25 consolidated results showed a 3.1 per cent increase in net profit to Rs 1,135.1 crore, supported by a 2.8 per cent rise in revenue to Rs 9,142.6 crore. Ebit grew 4.8 per cent to Rs 1,370.9 crore, expanding the margin to 15 per cent from 14.7 per cent.
L&T Finance: L&T Finance recorded a 29.1 per cent rise in net profit to Rs 685.5 crore in Q1, driven by a 17.4 per cent revenue increase to Rs 3,784.4 crore. Net interest income surged 23 per cent to Rs 2,020 crore, underpinning a consolidated book size growth of 13 per cent to Rs 88,717 crore.
Network18 Media and Investments: Network18 Media and Investments reported a 3 per cent decline in Q1 revenue to Rs 3,141 crore, accompanied by an operating Ebitda loss of Rs 148 crore compared to Rs 84 crore previously.
Zee Entertainment Enterprises: Zee Entertainment Enterprises’ board has approved raising funds by issuing 5 per cent foreign currency convertible bonds (FCCBs) amounting to $239 million (approximately Rs 1,997.22 crore) to selected investors.
Alok Industries: Alok Industries reported a narrowed Q1FY25 net loss of Rs 206.9 crore, despite a 28.9 per cent decline in revenue to Rs 1,006.3 crore. Ebitda saw a considerable increase of 68.6 per cent to Rs 20.75 crore, improving the margin to 2.06 per cent.
Adani Green Energy: Adani Green Energy’s provisional operational update indicated a 31 per cent increase in operational capacity to 10,934 MW, driven by greenfield additions. Sale of energy rose 22 per cent, with notable capacity utilisation factors across solar, wind, and hybrid portfolios.
Elecon Engineering Company: Q1FY25 consolidated net profit edged up 0.5 per cent to Rs 73.4 crore from Rs 72.96 crore in Q1FY24. Revenue declined 5.3 per cent annually to Rs 392.4 crore from Rs 414.3 crore.
Hathway Cable & Datacom: The net profit fell 18 per cent to Rs 18.32 crore in Q1FY25, as opposed to Rs 22.4 crore in Q1FY24. During the same period, revenue increased 0.7 per cent to Rs 502.6 crore from Rs 499.2 crore.
Kolte-Patil Developers: Collections grew 19 per cent to Rs 612 crore in Q1FY25 from Rs 513 crore in Q1FY24. Sales value rose 1 per cent Y-o-Y to Rs 711 crore from Rs 701 crore.
One 97 Communications (Paytm): FlixBus has entered a strategic partnership with Paytm to enhance distribution capabilities, leveraging Paytm’s extensive customer base and technological expertise.
Bharti Airtel: Bharti Airtel added 12.50 lakh subscribers in May 2024, a 66.2 per cent increase from the previous month, holding a 33.17 per cent market share of wireless subscribers as of May 2024.
Reliance Industries: Reliance Jio added 21.95 lakh users in May, holding a 40.6 per cent market share of wireless subscribers as of May 2024.
Bajaj Finance: Bajaj Finance has been fined Rs 2 crore by Insurance Regulatory Development Authority of India (IRDAI) for violations during an inspection covering FY18 to FY20. The company has been instructed to comply with directives promptly.
ONGC: ONGC has commenced production from its coal bed methane block in Bokaro, Jharkhand, with initial production at 1,70,000 SCMD expected to rise to 3,00,000 SCMD by the fiscal year-end.
Techno Electric & Engineering Company: Techno Electric & Engineering Company has launched its Qualified Institutions Placement (QIP) issue, fixing the floor price at Rs 1,506.58 per share on July 16.
ESAF Small Finance Bank: The Reserve Bank of India has approved the reappointment of Kadambelil Paul Thomas as Managing Director & CEO for three years, effective October 1, 2024.
Glenmark Pharmaceuticals: Glenmark Pharmaceuticals has received final approval from the United States Food and Drug Administration (US FDA) for Topiramate capsules USP, used in epilepsy treatment.
TVS Motor Company: TVS Motor Company will invest 200 million pounds in Norton Motorcycles for international expansion, focusing initially on the USA, Germany, France, Italy, and India.
Aditya Birla Money: Aditya Birla Money saw a robust 73.4 per cent jump in Q1 net profit to Rs 16.4 crore, with net interest income rising 47.8 per cent to Rs 88.5 crore.
Just Dial: Just Dial’s Q1 performance showed a 69.3 per cent spike in net profit to Rs 141.2 crore, supported by a 13.6 per cent revenue growth to Rs 280.5 crore. Ebitda surged 119.8 per cent to Rs 80.6 crore, resulting in an expanded margin of 28.7 per cent.
TV18 Broadcast: Q1FY25 consolidated revenue decreased 3 per cent to Rs 3,069 crore from Rs 3,176 crore in Q1FY24 Operating Ebitda showed a loss of Rs 109 crore compared to a loss of Rs 54 crore last year. Entertainment business Ebitda loss widened to Rs 149 crore from Rs 49 crore.
SpiceJet: Ashish Kumar has resigned as Head of Finance and CFO of SpiceJet. Joyakesh Podder has been appointed as head of finance and designated deputy CFO, effective July 15.
GMR Airports: GMR Airports has reported an 8 per cent year-over-year increase in passenger traffic for June, with domestic and international traffic rising by 6.4 per cent and 12.8 per cent respectively. Aircraft movements also grew by 6 per cent YoY.
Bajaj Electricals: Anuj Poddar has resigned as managing director & CEO of Bajaj Electricals, effective September 30, 2024, to pursue external opportunities.
KEC International: KEC International secured new orders worth Rs 1,100 crore for transmission & distribution projects in India, the Middle East, Australia, and the Americas, including significant contracts from Power Grid Corporation of India and UAE.
Vodafone Idea: Vodafone Idea reported a loss of 9.24 lakh subscribers in May, maintaining an 18.66 per cent market share of wireless subscribers as of May 2024.
