Stocks to Watch Today, Tuesday, August 13, 2024: Benchmark domestic indices, the BSE Sensex and the NSE Nifty50, are likely to start on a somber note on Tuesday amidst mixed global cues.
In Asia, Japan’s Nikkei traded higher by 2.33 per cent, the Shanghai Composite was up 0.08 per cent, South Korea’s Kospi was up 0.11 per cent, Hong Kong’s Hang Seng was up 0.21 per cent, and the Asia Dow traded up 1.42 per cent on Tuesday morning.
At 07:00 AM, GIFT Nifty futures quoted around 24,360 levels, indicating an indecisive start for the NSE Nifty50 index.
Overnight in the US, Wall Street’s major indices closed mixed as investors gauged the outlook for the Fed’s monetary policy. The Nasdaq Composite settled higher by 0.21 per cent, while the S&P 500 ended flat. Meanwhile, the Dow Jones Industrial Average dropped 0.36 per cent on Monday.
Here is a list of stocks to watch today, August 13:
MSCI related stocks
As per Nuvama Alternative and Quantitative Research, Rail Vikas Nigam Limited (RVNL), Vodafone Idea, Prestige Estates and Oil India, Dixon Technologies and Cochin Shipyard, Uno Minda, Zyudus Life and Oracle Financial Services are among the stocks that may be added to the MSCI Global Standard index during next month’s rebalancing exercise.
NMDC: India’s largest state-owned iron ore miner reported its profit for the first quarter of FY25, swelling 20 per cent year-on-year (Y-o-Y) to Rs 1,984 crore, beating street expectations of Rs 1,635 crore, per LSEG data. The company’s revenue from operations stood at Rs 5,378 crore, falling short of the street expectations of Rs 5,446 crore during the quarter ended June 30, 2024.
IRFC: State-owned non-banking finance company IRFC has announced that in Q1FY25, the company’s net profit increased by 1.64 per cent Y-o-Y to Rs 1,576.83 crore against Rs 1,551.27 crore reported in the corresponding quarter of last fiscal year. However, on a sequential basis, it declined from Rs 1,717.3 crore reported in Q4FY24. According to the company’s exchange filing, the increase in profit is due to an increase in leasing activity.
Hindustan Copper: The state-owned company reported a two-fold rise in consolidated net profit at Rs 113.40 crore in Q1FY25 against Rs 47.28 crore reported in the year-ago period, Hindustan Copper said in a filing to BSE. Hindustan Copper’s consolidated income during the Q1FY25 period rose to Rs 500.44 crore over Rs 384.73 crore in the year-ago period.
Balrampur Chini Mills: The company reported a 4.6 per cent drop in its consolidated net profit to Rs 70.15 crore in the first quarter of FY25, as lower sugarcane availability hit production volumes. It had reported a net profit of Rs 73.50 crore in the corresponding quarter of last fiscal year. The company’s revenue from operations rose 2.3 per cent to Rs 1,421.59 crore in the quarter ended June 30 this fiscal from Rs 1,389.62 crore in the year-ago period.
ONGC: The Ministry of Petroleum and Natural Gas, Government of India, has allowed the allocation of gas produced from new wells or well interventions from nominated fields of ONGC/OIL at a 20 per cent premium over the APM price. “The enhanced price for new gas will make the new gas development projects viable and help ONGC augment the production of natural gas from nominated fields in challenging areas that require higher capital and technology,” ONGC said in a press release.
Wipro: The leading technology services and consulting company has announced the expansion of its strategic partnership with Google Cloud to scale its adoption of Google Cloud AI. “Using Vertex AI and Gemini models, Wipro, in its project execution to clients, is equipping its workforce with generative AI-powered tools to enhance developer productivity, accelerate cloud migrations, and deliver innovative GenAI solutions,” Wipro said in a regulatory filing.
Power Grid Corporation of India: The company has informed the exchanges that it has been declared the successful bidder under tariff-based competitive bidding to establish an Inter-State transmission system for the “Additional Transmission System for Evacuation of Power from Bhadla-III PS as Part of Rajasthan REZ Phase-III Scheme (20 GW)” on a build, own, operate, and transfer (BOOT) basis.
JSW Steel: JSW Steel, through its wholly owned subsidiary JSW Steel (Netherlands) B.V, has executed a Shareholders’ Deed (SHA), Share Subscription Deed (SSA), and other transaction-related documents (together referred to as “Transaction Agreements”) to acquire a 66.67 per cent economic interest in M Res NSW by way of subscription to its non-voting Class B shares, as per information available on the exchanges.
NTPC: The state-owned company has received an order from the Joint Commissioner, CGST and Central Excise, Patna-I of Bihar state, for the payment of tax, interest, and penalty under Goods and Service Tax laws amounting to Rs 10,01,26,737. “The corporation will file an appeal before the 1st appellate authority of the applicable jurisdiction against the said order within the prescribed timeline,” NTPC said in a regulatory filing on the BSE.
IPO corner
Shares of Brainbees Solutions (FirstCry) and Unicommerce eSolutions are scheduled to make their debut on the bourses – BSE and NSE. The grey market premiums indicate a positive listing for both companies’ shares.
First Published: Aug 13 2024 | 8:18 AM IST
