GIFT Nifty was up 57 points or 0.23% at 24,603 indicating a positive start for domestic indices. Here are the top stocks to watch for the day.
Stock to watch today: On Friday, the NSE Nifty 50 advanced 186 points or 0.77% to close the session at 24,502.15. (Image: Freepik)
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap up opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was up 57 points or 0.23% at 24,603 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 rose 186 points or 0.77% to settle at 24,502.15, while the BSE Sensex jumped 622 points or 0.78% to close at 80,519.
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Stocks to watch on July 15, 2024
HCLTech
HCLTech on Friday posted a near 2% sequential decline in its topline at Rs 28,057 crore in the April-June quarter on the back of weakness in the IT services & engineering and R&D services segments. However, the company’s consolidated net profit rose 7% quarter-on-quarter to Rs 4,257 crore, aided by an increase in other income and a small decline in expenditure.
HCLTech reported a downturn in revenue from its European operations in the quarter ended June, largely due to the underperformance of its recent acquisition, ASAP Group, according to C Vijayakumar, chief executive officer of the company. “The acquired company, ASAP, particularly in the automotive sector, performed below our expectations. There’s noticeable softness in the automotive segment, especially in Germany, which is exerting pressure,” Vijayakumar told FE.
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Avenue Supermarts
Avenue Supermarts, which owns and operates the retail chain D-Mart, on Saturday, reported its fiscal first quarter earnings with profit at Rs 773.82 crore, up 17.5 per cent in comparison to Rs 658.71 crore during the same period last year. It posted revenue from operations at Rs 14,069.14 crore, up 18.6 per cent as against Rs 11,865.44 crore recorded during the first quarter of FY24. The company’s EBITDA was up 18 per cent at Rs 1,221.3 crore as against Rs 1,035.3 crore on-year.
Godrej Consumer Products
Godrej Consumer Products introduced a new mosquito repellent in liquid vapourisers and agarbattis, using an indigenously developed and patented molecule Renofluthrin, on Friday. This is India’s first such molecule, the company said, which in the past would import its molecules for its household insecticides from countries such as Japan.
IREDA
Indian Renewable Energy Development Agency (IREDA) posted a net profit of Rs 383.69 crore in the Apr-Jun quarter of FY25, a 30% growth on year compared to Rs 294.58 crore during the same period last year. Also, the company’s asset quality has improved sequentially.
Lupin
Lupin received approval from the USFDA to market a generic medication to treat seizures. The company has received approval from the US health regulator to market Topiramate extended-release capsules in the US, said the company in an exchange filing.
RVNL
Rail Vikas Nigam received a letter of acceptance (LoA) from Central Railway for overhead modification work up-gradation of the existing 1 x 25 kV electric traction system for a sum of Rs 132.59 crore.
Piramal Pharma
Piramal Pharma has said that the USFDA conducted a Pre-Approval Inspection (PAI) of the company’s PPDS Ahmedabad facility from 10th July 2024 to 12th July 2024. The inspection was completed successfully with Zero Form-483 observations and No Action Indicated (NAI) designation.
Alembic Pharmaceuticals
Alembic Pharmaceuticals received tentative approval from the US Food and Drug Administration for injections to treat pulmonary arterial hypertension, the company said on Friday in an exchange filing. It received approval for its abbreviated new drug, Selexipag for Injection, 1,800 mcg per vial.
