Stocks to Watch Today, Friday, August 16, 2024: Benchmark domestic indices, the BSE Sensex and the NSE Nifty50, are likely to start on a positive note on Friday, buoyed by solid gains in global markets.
In Asia, Japan’s Nikkei traded higher by 2.18 per cent, the Asia Dow traded up 1.73 per cent, South Korea’s Kospi was up 1.83 per cent, and the Shanghai Composite was up 0.94 per cent, while Hong Kong’s Hang Seng was down 0.02 per cent on Friday morning.
On Thursday, the Nasdaq Composite settled higher by 2.34 per cent. The broader S&P 500 and the Dow Jones Industrial Average ended with gains of 1.61 per cent and 1.4 per cent, respectively.
At 7:50 AM, GIFT Nifty futures were quoting over 45 points higher at 24,206 levels.
At 07:50 AM, GIFT Nifty futures quoted around 24,347 levels – hinting at a likely 176-point opening gap on the NSE Nifty 50 index today.
Here is a list of stocks to watch today, August 16:
Q1-FY25 results today: Bheema Cements, Rapid Investments, SPL Industries, and Shri Venkatesh Refineries.
M&M: Mahindra & Mahindra (M&M) unveiled its ‘Thar Roxx’ SUV on Independence Day, August 15, 2024, at a starting price of Rs 12.99 lakh.
Jio Financial Services: The company has incorporated a wholly-owned subsidiary named Jio Finance Platform and Service Limited for the business of distribution of financial products and allied services. The company will invest an amount of Rs 1 lakh towards initial subscription of 10,000 equity shares.
SpiceJet: The low cost airline’s June quarter profit fell 19.9 per cent to Rs 158.2 crore from Rs 197.6 crore year-over-year. Revenue decreased by 14.7 per cent on year to Rs 1,708 crore, down from Rs 2,003.6 crore.
Hinduja Global: The company’s net profit in the June quarter of FY25 soared mukti-fold to Rs 165.6 crore from Rs 14.9 crore year-over-year. Revenue, however, grew by 3.7 per cent Y-o-Y to Rs 1,091.9 crore.
Ola Electric: Ola Electric launched the ‘Roadster Pro’ electric motorcycle in India. Coming in two variants — 8kWh and 16kWh — the bikes are priced at Rs 2 lakh and Rs 2.5 lakh, ex-showroom, respectively. Financially, the new stock market debutant reported Q1FY25 net loss of Rs 346 crore, up from Rs 268-crore net loss of Q1FY24. On a quarter-on-quarter (Q-o-Q) basis, however, the company;s loss came down from Rs 418 crore.
Hindustan Aeronautics: State-owned defence company reported a 77 per cent year-on-year (Y-O-Y) rise to Rs 1,437 crore in its first-quarter profit on realisations from aircraft manufacturing contracts.
Reliance Power: The company’s consolidated net loss narrowed to Rs 97.85 crore for Q1FY25, owing to a rise in revenue and a fall in expenses. The power generation company’s had recocrded a net loss Rs 296.3 crore for the Q1FY24. Reliance Power’S Revenue was up 6 per cent at Rs 2,069.1 crore, due to an increase in other income.
Other Q1 results reactions: Aarti Drugs, Bajaj Healthcare, Balkrishna Paper Mills, BL Kashyap, BLB, Bloom Industries, BLS International Services, Clio Infotech, CNO Petro, Coast Corporation, Coffee Day Enterprises, Commex Technology, Computech International, Confidence Petroleum India, Container Corporation, Conticon India, Coral Laboratories, Cosco India, CPL, Goodyear India, Hisar Spinning Mills, Hittco Tools, HMA Agro Industries, HMT, HPIL, Harmony Capital Services, Kirloskar Industries, Kitex Garments, KK Fincorp, KMF Builders, KNR Constructions, Kobo Biotech, Konark Synthetic, and Kotic.
Ceigall India: Ceigall India Limited has received the Letter of Acceptance for the Bhubaneswar Metro project from Delhi Metro Rail Corporation. The bid cost of the project is Rs 899 crore, the company said in an exchange filing.
Paras Space and Defence Technology: The company has received an order from L&T worth Rs 305 crore.
Power Mech Projects: The company has received an order worth Rs 114.30 crore. The project is an extension of time for the Operation and Maintenance of 1200 MW (2*600MW) coal based thermal power plant namely Mutiara Thermal Power Plant, owned by Coastal Energen Private Limited, Tuticorin District, Tamil Nadu, for a period of one year.
SBI and Punjab National Bank: The Karnataka state government has reportedly ordered all departments to close their accounts with the State Bank of India and Punjab National Bank, citing alleged financial irregularities.
Glenmark Life Sciences: The company has received a Revocation Letter from Gujarat Pollution Control Board for its Ankleshwar facility against the Closure Order passed on July 24, 2024.
GPCB has imposed an interim Environmental Damage Compensation of Rs 15 lakh, which has been duly paid by the company. The company does not foresee any material impact on the financial, operation or other activities.
REC: Rajasthan IV 4B Power Transmission Limited has been incorporated as a wholly-owned subsidiary of REC Power Development & Consultancy Limited.
JNK India: The company has received a ‘Large’ order from Hindustan Petroleum Corporation Limited for setting up a new Process Plant – HP TDAE (Treated Distillate Aromatic Extracts) unit on LSTK (Lump sum Turnkey) contract basis at HPCL Mumbai Refinery. ‘Large’ orders range from Rs 50 crore to Rs 150 crore.
First Published: Aug 16 2024 | 8:07 AM IST
