Stocks to watch: Shares of firms like Voda Idea, Hindalco, Nykaa, Marico, Wipro, Hero MotoCorp, and others will be in focus on Tuesday’s trade.
Stocks to watch on August 13, 2024: Domestic markets started the week on a volatile note due to mixed signals but ended largely unchanged. In today’s trade, shares of Vodafone Idea, Hindalco, Nykaa, Hero MotoCorp, Marico, Wipro among others will be in focus due to various news developments and due to first quarter results
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Key earnings to watch
Hero MotoCorp, Hindalco Industries, FSN E-Commerce Ventures Nykaa, Allied Blenders and Distillers, Allcargo Logistics, Anupam Rasayan India, Apollo Hospitals Enterprise, Ashoka Buildcon, Dilip Buildcon, Eclerx Services, Emcure Pharmaceuticals, Endurance Technologies, Godrej Industries, HEG, Ipca Laboratories, Indian Railway Catering and Tourism Corporation, Manappuram Finance, Medi Assist Healthcare Services, Max Financial Services, Samvardhana Motherson International, MTAR Technologies, Muthoot Finance, Nazara Technologies, NBCC India, Piramal Enterprises, Religare Enterprises, SJVN, and TBO Tek will announce their Q1 FY25 results on August 13.
Vodafone Idea: Vodafone Idea’s net loss for the April-June quarter narrowed to Rs 6,432 crore from Rs 7,674 crore in the preceding quarter, owing to the fall in expenses, especially the finance costs.
ONGC: The ministry of petroleum and natural gas on Monday allowed the allocation of gas produced from new wells or well interventions from nominated fields of state-owned upstream companies ONGC and Oil India at a 20% premium over the administered price mechanism (APM price) or the domestic natural gas price.
IRFC: IRFC’s net profit remained flat on a yearly basis, coming in at Rs 1,576 crore, compared to Rs 1,551 crore last year. The railway financier reported revenue of Rs 6,765 crore, which is a growth of 1.4% from the revenue of Rs 6,673 crore that it reported in the same quarter of last year.
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Wipro: Wipro announced that its Chief Technology Officer (CTO) Subha Tatavarti has resigned from the services of the company to pursue opportunities outside of the IT firm. In her resignation letter, she wrote, “I am resigning from the post of CTO, Wipro effective August 16th. Good luck with your journey.” Subha Tatavarti will be stepping down as Chief Technology Officer with effect from the close of business hours on August 16, 2024.
VA Tech Wabag: VA Tech Wabag, a pure-play water technology company, has secured a repeat order worth Rs 415 crore from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB). The order is towards the operation and maintenance of 110 megaliters per day SWRO Desalination Plant at Nemmeli in Chennai for a period of 7 years.
Power Grid Corp: Power Grid Corporation said it has bagged a transmission project in Rajasthan under tariff-based competitive bidding. “Power Grid Corporation of India Ltd (Power Grid) has on 12th August 2024, received a Letter of Intent (LoI) for acquiring a Project Special Purpose Vehicle (SPV) viz. Bhadla-III Power Transmission Ltd for establishing the transmission system associated with ‘Additional Transmission System for Evacuation of Power from Bhadla-III PS as Part of Rajasthan REZ Phase-III Scheme (20 GW),” a company statement said.
JSW Steel: JSW Steel will acquire the controlling stake in an Australian miner for $170 million as India’s largest steelmaker seeks to secure the supply of coking coal—a key raw material that is scarce in India—to meet its expansion plans. The company’s board approved to pay $120 million for a 66.67% stake in M Res NSW HCC Pty Ltd, according to an exchange filing.
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Hindustan Copper: Hindustan Copper’s net profit surged to Rs 113 crore from Rs 47 crore last year. This, despite higher employee expenses, power and fuel costs, and lower other income.
The bottom line was aided by an increase in revenue, which grew by 33% from the same period last year to Rs 493.6 crore.
NMDC: National Mineral Development Corporation (NMDC) reported a consolidated net profit of Rs 1,970.80 crore for the quarter ending June, increasing 19% on year from Rs 1,652.2 crore in the year-ago period, amid increased realisations. NMDC’s consolidated revenue from operations was flat at Rs 5,414.2 crore in the quarter ended June 30.
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