Stocks to Watch Today, Friday, August 02, 2024: Benchmark domestic indices, the BSE Sensex and the NSE Nifty50, are likely to start the week’s last trading session on a sombre note amidst poor global cues. At 07:00 AM, GIFT Nifty futures quoted around 24,800 levels – indicating over a 200-point gap-down at the opening bell on the Nifty50 index.
Overnight in the US, Wall Street’s major indices ended sharply lower as new data raised concerns that the US economy might be slowing down too quickly, with the Federal Reserve maintaining a restrictive monetary policy. The tech-heavy Nasdaq Composite plunged 2.30 per cent, the S&P 500 ended lower by 1.37 per cent, and the Dow Jones Industrial Average fell 1.21 per cent.
In Asia, Japan’s Nikkei traded down 5.08 per cent, the Shanghai Composite was down 0.22 per cent, while Hong Kong’s Hang Seng was up 0.23 per cent. South Korea’s Kospi was down 2.79 per cent, and the Asia Dow traded down 3.23 per cent on Friday morning.
Here is a list of stocks to watch today, August 2:
Q1FY25 Results on Friday: Acemen, ACI, Alchemist Realty, Ador Welding, Aeroflex Industries, Apollo Finvest (India), Aptech, Asia Capital, Banswara Syntex, Bector Foods Specialities, Britannia Industries, CAMS, Celebrity Fashions, Comfort Intech, Dalmia Bharat Sugar and Industries, Delhivery, Dhampur Sugar Mills, Dolphin Offshore Enterprises, Edelweiss Financial Services, GlaxoSmithKline Pharmaceuticals, GRP, Healing Touch Global, Hester Biosciences, Hindustan Zinc, IDFC, Indo Euro Indchem, Infibeam Avenues, Jindal Hotels, LIC Housing Finance, Lloyds Enterprises, Lucent Industries, Shree Renuka Sugars, Resonance Specialties, SAMHI Hotels, Saregama India, Satch & Company, Sudarshan Chemical Industries, Sujala Trading & Holdings, Sungold Capital, Super Tannery, Surbhi Industries, Surya Lakshmi Cotton Mills, TajGVK Hotels & Resorts, Texinfra, Tinna Rubber, Titan Company, Tamilnad Mercantile Bank, Trade Wings, TTK Healthcare, United Jubilee Industries, UPL, Valiant Communications, Visco Trade Associates, Yaarii Digital Integrated Services,and Zydus Wellness.
Infosys: The IT giant announced that it has received communication from Karnataka State authorities, withdrawing the pre-show cause notice and directing the company to submit a further response to the DGGI central authority on this matter. Infosys had earlier received a notice for the payment of GST of Rs 32,403 crore from Karnataka State GST authorities for the period July 2017 to March 2022, relating to expenses incurred by the company’s overseas branch offices.
ITC: The FMCG giant reported a marginal decline of 0.26 per cent year-on-year (YoY) in net profit in Q1FY25, dragged by the paper, paperboard and packaging, hospitality, and agri-business segments. The diversified conglomerate’s consolidated net profit in Q1FY25 slipped to Rs 5,091.59 crore from Rs 5,104.93 crore in the year-ago period. ITC’s consolidated gross revenue stood at Rs 20,029.60 crore for the quarter under review, up by 7.5 per cent YoY compared to Rs 18,639.48 crore reported in Q1FY24.
Tata Motors: The automaker’s consolidated profit after tax climbed a whopping 74 per cent YoY in Q1FY25 to Rs 5,566 crore, as against Rs 3,203 crore reported in the same quarter last fiscal year. Tata Motors beat Street estimates of around Rs 5,100 crore.
Adani Enterprises: Billionaire Gautam Adani-led Adani Enterprises’ profit in the first quarter of FY25 more than doubled on a YoY basis, as growth in its new energy division outweighed weakness in its key coal trading segment. The company reported its consolidated net profit in Q1FY25 at Rs 1,455 crore, compared to Rs 674 crore in the corresponding quarter of the previous fiscal year.
Zomato: Zomato reported a massive jump in its net profit in Q1FY25 to Rs 253 crore, from Rs 2 crore reported in Q1FY24. The company’s net profit jumped 44.5 per cent sequentially from Rs 175 crore in the preceding quarter. The company’s revenue from operations jumped 74 per cent YoY to Rs 4,206 crore in Q1FY25. As in the past few quarters, growth was driven by Blinkit, the quick commerce business of Zomato.
Sun Pharmaceutical: Leading Indian drug maker Sun Pharma’s net profit in Q1FY25 jumped 40 per cent YoY to Rs 2,836 crore, compared to Rs 2,026 crore reported in the corresponding quarter of the last fiscal year. The company’s total revenue from operations advanced 6 per cent YoY to Rs 12,653 crore in Q1FY25, from Rs 11,941 crore reported in Q1FY24.
Dabur India: The company’s net profit in Q1FY25 grew 7.8 per cent YoY to Rs 500 crore from Rs 464 crore in the same period last year, as the rural business continued to outpace urban. Dabur India reported a 7 per cent increase in net sales to Rs 3,349 crore in Q1FY25, from Rs 3,130 crore in the corresponding quarter of last fiscal year.
Netweb Technologies: The company’s promoters Sanjay Lodha, Navin Lodha, Vivek Lodha, and Niraj Lodha may sell 20.54 lakh shares of Netweb Technologies through block deals on Friday, according to reports.
JSW Infrastructure: The company has informed the exchanges that its Board of Directors has approved the appointment of Mr. Rinkesh Roy as President and designated him as Senior Management Personnel of the Company with effect from August 01, 2024.
Other Q1FY25 Result Reactions: Aditya Birla Capital, Akzo Nobel India, Alkyl Amines Chemicals, Adani Transmission, Bajaj Steel Industries, Bharat Wire Ropes, Datamatics Global Services, Diamond Power Infrastructure, Emami, Escorts, Everest Industries, G R Infraprojects, Hindustan Foods, India Grid Trust, JMG Corporation, John Pharmaceuticals, JSL Industries, Kalyan Jewellers India, Kaycee Industries, Max Healthcare Institute, Mideast Integrated Steels, Narayan Realty, Netlink Solutions (India), Neuland Laboratories, RailTel Corporation of India, Repco Home Finance, Suryoday Small Finance Bank, Thermax, and Welspun Enterprises.
