Stocks To Watch: Mahindra & Mahindra, Delta Corp, RVNL, JSW Steel, Adani Power, Emcure Pharma

Shares of Delta Corp., Mahindra and Mahindra, JSW Steel and Havells India will be in focus on Friday.

Delta Corp. on Tuesday reported a 68% decline in its net profit on a yearly basis for the first quarter of the financial year ending March 2025.

Mahindra & Mahindra Ltd. has slashed the starting price of its best-selling sports utility vehicle, intensifying the SUV price war in the world’s third largest automotive market.

The consolidated crude steel production of JSW Steel Ltd. fell 1% year-on-year and 6% sequentially in the first quarter of the current financial year, mainly due to planned maintenance shutdowns.

The July futures contract of the GIFT Nifty was at 24,484.00, up 19.5 points or 0.08%.

India's equity benchmark indices rebounded sharply to end at a record high on Tuesday as shares of Maruti Suzuki India Ltd. and ICICI Bank Ltd. led gains.

The NSE Nifty 50 settled 112.65 points, or 0.46%, higher at 24,433.20, and the S&P BSE Sensex ended up 391.26 points, or 0.49%, at 80,351.64.

Analysts expect the Nifty index to maintain their upward trajectory, heading into the first quarter earnings season on Wednesday. They expect the support to be broadly at the 24,160 level for the benchmark Nifty 50 and towards 24,600. They added that defensive sectors like FMCG and pharma have been favoured in recent sessions, and auto stocks have also shown strength.

The 50,200 mark is crucial for Bank Nifty at a time when the index faces volatility, according to analysts. They added that if the index holds, as 50,100-50,200 is held, one can take a long position on Bank Nifty.

• Delta Corp.: The company reported a 68% decline in its net profit on a yearly basis for the first quarter of the financial year ending March 2025. Revenue of the company fell 30% year-on-year to Rs 181 crore. Revenue from gaming operations, the highest contributor to the company's top line, dropped 33% on a yearly basis to Rs 169.42 crore. The operating income—or the earnings before interest, tax, depreciation and amortisation—fell 68% on a yearly basis to Rs 31 crore. Ebitda margin contracted to 16.3% from 36.9% recorded during the same period last year.

• Mahindra & Mahindra: The automaker reduced the prices of top-end variants of the XUV700 SUV by almost Rs 1 lakh. The “celebratory” pricing is for four months only.

• JSW Steel: The consolidated crude steel production of the company fell 1% year-on-year and 6% sequentially in the first quarter of the current financial year, mainly due to planned maintenance shutdowns.

• Havells India: The company is planning to expand the manufacturing capacity of cables at the Alwar plant. The company is also planning to make an investment of Rs 375 crore to add 41.2 lakh km of annual capacity by March 2026.

• Adani Power: The company’s unit, Mahan Energen, has entered into a 20-year power purchase agreement for 500 MW with Reliance Industries. Reliance Industries acquired a 26% stake in one of Mahan Energen's 600 MW thermal power units for the agreement.

• RVNL: The company emerged as the lowest bidder for a Rs 203 crore railway contract from Southeastern Railway and signed an MoU with Tatweer Middle East and Africa to execute rail-based work in the MENA Region and European countries. The company has also received a project worth Rs 187 crore from Maharashtra Metro Rail Corp. to construct six elevated metro stations in Nagpur.

• H.G. Infra Engineering: The company signed a MoU with Ultra Vibrant Solar Energy for acquiring project development activities worth Rs 465 crore.

• Marathon Nextgen Realty: The presale value of Marathon Nextgen Realty Ltd. dipped 46% year-on-year to Rs 214 crore in the first quarter of this fiscal. The collection for the quarter, however, rose 17% to Rs 272 crore. The presales area in the first quarter fell 45% to 79,239 sq. ft. and the company's net debt for the quarter ended June stood at Rs 728 crore.

• Lloyd Metals and Energy: The company raised Rs 1,200 crore via QIP and allotted 1.75 crore shares at Rs 696 per share, indicating a 4.93% discount on the floor price.

• Emcure Pharma: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 1,008 apiece. The Rs 1,952-crore IPO was subscribed to 67.87 times on its third and final day. Bids were led by institutional investors (195.83 times), retail investors (7.21 times), non-institutional investors (48.32 times), and a portion reserved for employees (8.81 times).

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