Budget Day Stocks To Watch: Bajaj Finance, HUL, ICICI Securities, Gensol Engineering And More
Set your sights on today's potential market movers—here are the stocks to watch in today's trade.
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The Indian markets await the Union Budget every year to take cues on the road ahead for the Indian economy. Along with sectoral moves because of the annual event where Finance Minister Nirmala Sitharaman will present the country's statement of account, stocks like Bajaj Finance Ltd., Hindustan Unilever Ltd., ICICI Securities Ltd. and Mahindra & Mahindra Financial Services Ltd. will be in focus following the release of their first-quarter earnings for this fiscal.
The July futures contract of the GIFT Nifty was flat at 24,548 as of 06:57 a.m.
Last Session: Quick Recap
The Indian benchmark equity indices, the Nifty and the Sensex, closed lower for the second consecutive session on Monday as investors look forward to the Union budget 2024–25 and more corporate earnings.
The NSE Nifty 50 ended 21.65 points, or 0.09%, down at 24,509.25, while the S&P BSE Sensex closed 102.57 points, or 0.13%, down at 80,502.08.
Considering the Union budget outcome, wild swings can be expected on both sides where 24,200 will be considered as immediate support, while the higher side seems to be capped at 24,800, said analysts. As long as the index remains below 24,855, a sell-on-rise strategy needs to be adopted in Nifty, they said.
The Bank Nifty index opened with a gap down, remained under pressure in the first half, but later witnessed buying interest and finally settled the day on a positive note at 52,280 levels.
Bank Nifty will find strong support near the 51,800–52,000 levels. On the upside, 52,800 and 53,000 will serve as strong resistance levels, said analysts.
Here Are The Stocks To Watch On Tuesday
Oil India: The company signed a contract with Norway's Dolphin Drilling to hire Dolphin's drilling unit, Blackford.
MRPL: The company appointed Yogish Nayak as CFO effective today.
Gensol Engineering: The company has become the preferred bidder for 116 MW solar projects, with an EPC revenue of Rs 600 crore in Gujarat.
Power Mech Projects: The Uttarakhand Government has revised the tender offer for hospital construction to Rs 594 crore from Rs 362 crore.
Punjab And Sindh Bank: The company will be raising up to Rs 800 crore on July 26.
Lemon Tree Hotels: The company signed licensing pacts for a 57-room hotel in Goa and a 44-room hotel in Punjab.
Federal Bank: The RBI approved the appointment of Krishnan Venkat Subramanian as MD and CEO for three years, effective September 23. KV Subramanian earlier served as joint MD of Kotak Mahindra Bank.
Reliance Industries: Reliance New Energy acquired the remaining 12.7% stake in Reliance Lithium for €3.7 million.
Results To Watch On Tuesday
Bajaj Finance, Hindustan Unilever, ICICI Securities, and Mahindra & Mahindra Financial Services will be in focus on Tuesday as they announce their first quarter results.
Other results to look out for include DCM Shriram, Heritage Foods, ICICI Prudential, ICRA, Indoco Remedies, Kajaria Ceramics, Schaffler India, Sharda Cropchem, SRF, Steel Strips Wheels, Thyrocare Technologies, Torrent Pharmaceuticals, and United Spirits.
Results After Market Hours
Cyient DLM Q1 FY25 (Consolidated, YoY)
Revenue up 19% at Rs 258 crore versus Rs 217 crore (Bloomberg estimate Rs 262 crore).
Ebitda up 1.5% at Rs 20.1 crore versus Rs 19.8 crore (Bloomberg estimate Rs 18.4 crore).
Ebitda margin at 7.8% versus 9.1% (Bloomberg estimate 7%).
Net profit up 96% at Rs 10.6 crore versus Rs 5.4 crore (Bloomberg estimate Rs 8.6 crore).
MRPL Q1 FY25 (Standalone, QoQ)
Revenue down6.52% at Rs 23,247 crore versus Rs 25,329 crore.
Ebitda down 74.1% at Rs 603 crore versus Rs 2,329 crore.
Ebitda margin down 660 bps at 2.59% versus 9.19%.
Net profit down 94.22% at Rs 65.57 crore versus Rs 1,136 crore.
Zensar Technologies Q1 FY25 (Consolidated, QoQ)
Revenue up 4.7% at Rs 1,288 crore versus Rs 1,230 crore (Bloomberg estimates Rs 1,257 crore).
EBIT down 4.4% at Rs 172 crore versus Rs 179 crore (Bloomberg estimates Rs 180.5 crore).
EBIT margin at 13.3% versus 14.6% (Bloomberg estimates Rs 14.4%)
Net profit down 8.9% at Rs 158 crore versus Rs 173 crore (Bloomberg estimates Rs 160 crore).
Greenlam Industries Q1 FY25 (Consolidated, YoY)
Revenue up 17% at Rs 605 crore versus Rs 515 crore (Bloomberg estimate Rs 594 crore).
Ebitda down 0.5% at Rs 64 crore versus Rs 64 crore (Bloomberg estimate Rs 80 crore).
Ebitda margin at 10.6% versus 12.5% (Bloomberg estimate 13.5%).
Net profit down 40% at Rs 20 crore versus Rs 33 crore (Bloomberg estimate Rs 34 crore).
Suzlon Energy Q1 FY25 (Consolidated, YoY)
Revenue up 50% at Rs 2,022 crore versus Rs 1,351 crore (Bloomberg estimate Rs 2,132 crore).
Ebitda up 78% at Rs 367 crore versus Rs 207 crore (Bloomberg estimate Rs 239 crore).
Ebitda margin at 18.2% versus 15.3% (Bloomberg estimate 11.2%).
Net profit up 200% at Rs 302 crore versus Rs 101 crore (Bloomberg estimate Rs 243.7 crore).
