Stocks To Watch: Tata Steel, Infosys, Tata Motors, ITC, Coal India, Bank Of Baroda, IDBI Bank, Ceigall India
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Tata Steel Ltd., Infosys Ltd., Wipro Ltd. and IDBI Bank Ltd. will be in focus on Wednesday after the companies issued important business updates.
Adani Enterprises Ltd., Adani Ports and SEZ Ltd., Tata Motors Ltd., ITC Ltd., and Dabur India Ltd. are set to announce earnings for the first quarter of fiscal 2025. Meanwhile, shares of Coal India Ltd., Bank of Baroda and JK Lakshmi Cement Ltd. are expected to fluctuate, based on investor sentiment after their quarterly results announcement on Wednesday.
The GIFT Nifty was trading 0.03% or 8 points higher at 25,096.00 as of 07:00 a.m.
India's benchmark stock indices continued their gains for the fourth consecutive session to end at fresh record closing highs on Wednesday, ahead of the Federal Open Market Committee's meeting.
Both indices closed at their highest levels. The NSE Nifty 50 closed up 93.85 points, or 0.38%, at 24,951 and the S&P BSE Sensex ended 285.94 points, or 0.35%, higher at 81,741.
Overseas investors stayed net sellers of Indian equities on Wednesday for the third consecutive session. Foreign portfolio investors offloaded stocks worth Rs 3,462.4 crore, while domestic institutional investors stayed net buyers for the sixth session and bought equities worth Rs 3,366.5 crore, according to provisional data from the NSE.
The Nifty's sustainable move above 25,000 will push the index further higher to 25,200, whereas on the downside, 24,800 will be considered immediate support, according to Aditya Gaggar, director of Progressive Share Brokers Pvt.
Here Are The 10 Top Stocks To Watch On Thursday
Tata Steel: The company will set aside Rs 17,347 crore as contingent liability in its financial statements, following a recent Supreme Court judgment that upheld the state government's power to levy cess on minerals.
Infosys: The company is under GST Intelligence scanner for alleged evasion of over Rs 32,403 crore. Responding to the allegation, the company said it paid all its GST dues and is fully in compliance with the central and state regulations on this matter.
Wipro: The company has secured a multi-year contract with global automotive supplier MAHLE to upgrade its IT infrastructure with hybrid cloud solutions.
IDBI Bank: Fairfax, NBD Emirates and Kotak Mahindra Bank are said to be in final list of bidders, and have cleared RBI’s fit and proper checks, NDTV Profit reported.
Vedanta: The company received approval from BSE and the National Stock Exchange of India to split into six independent listed companies.
Hero MotoCorp: The company has set Aug. 1 as the ex/record for final dividend of Rs 40 per share.
Bharat Forge: Subsidiary Kalyani Strategic Systems has received defence license for manufacture of various defence products at its Jejuri unit in Maharashtra. This will allow the company to participate in potential future defence programs.
JK Lakshmi Cement: The board approved the composition of Scheme of Amalgamation and arrangement amongst company, Udaipur Cement Works, Hansdeep Industries & Trading Company, Hidrive Developers, and Industries.
Ceigall India: The company will offer its shares for bidding on Thursday for its Rs 1,252.66 crore-IPO. The price band is set from Rs 380 to Rs 401 per share. The IPO is a combination of a fresh issue of Rs 684.25 crore and the rest of the offer for sale.
Shriram Finance: The company executed a master agreement for loan co-lending to MSME borrowers under scheme of co-lending with Central Bank.
Q1 Results On Thursday
Adani Enterprises, Adani Ports, Tata Motors, ITC, and Dabur India, will be among the major firms to report their first-quarter earnings on Thursday.
Other results to look out for include Aditya Birla Capital, Akzo Nobel India, Alkyl Amines Chemicals, Aptus Value Housing Finance, Arvind Fashions, Cleans Science and Technology, Emami, Escorts Kubota, Great Eastern Shipping, GHCL, Godrej Agrovet, GR Infraprojects, Indegene, Kalyan Jewellers, KSB, Max Healthcare Institute, Neuland Laboratories, NIIT Learning Systems, Orient Electric, Paradeep Phosphates, Prince Pipes and Fittings, Repco Home Finance, RattanIndia Power, Somany Ceramics, Sun Pharma, Thermax, Tube Investments, Triveni Engineering, and Zomato.
Results After Market Hours On Wednesday
Coal India Q1 Earnings (Consolidated, YoY)
Revenue up 1.33% at Rs 36,464 crore versus Rs 35,983 crore (Bloomberg estimate Rs 36,021 crore).
Ebitda up 5.62% at Rs 14,338 crore versus Rs 13,575 crore (Bloomberg estimate Rs 10,172 crore).
Ebitda margin up 159 bps at 39.32% versus 37.72% (Bloomberg estimate 28.2%).
Net profit up 5.69% at Rs 14,147 crore versus Rs 13,385 crore (Bloomberg estimate Rs 7,653 crore).
Bank of Baroda Q1 FY25 (Standalone, YoY)
Net interest income up 5.48% to Rs 11,600.1 crore versus Rs 10,997 crore.
Net profit up 9.5% to Rs 4,458.1 crore versus Rs 4,070 crore (Bloomberg estimate Rs 4,546 crore)
Gross NPA at 2.88% versus 2.92% (QoQ).
NNPA at 0.69% versus 0.68% (QoQ).
GE T&D India Q1 Earnings (Consolidated, YoY)
Revenue up 33.56% at Rs 958 crore versus Rs 718 crore (Bloomberg estimate Rs 889 crore).
Ebitda up 259.94% at Rs 182 crore versus Rs 51 crore (Bloomberg estimate Rs 87.15 crore).
Ebitda margin up 1195 bps at 19% versus 7.05% (Bloomberg estimate Rs 9.8%).
Net profit up 376.95% at Rs 134.5 crore versus Rs 28 crore (Bloomberg estimate Rs 58.23 crore).
Tata Steel Q1 FY25 (Consolidated, YoY)
Revenue down 7.94% at Rs 54,771 crore versus Rs 59,490 crore (Bloomberg estimate Rs 56,340 crore).
Ebitda up 29.39% at Rs 6694 crore versus Rs 5174 crore (Bloomberg estimate Rs 6,380 crore).
Ebitda margin up 352 bps at 12.22% versus 8.69% (Bloomberg estimate 11.30%).
Net profit up 75.04% at Rs 919 crore versus Rs 525 crore (Bloomberg estimate Rs 1,216 crore).
Exceptional loss item of Rs 358 crore in current quarter.
UGRO Capital Q1 FY 25 (YoY)
Total income up 38.1% at Rs 302 crore versus Rs 218 crore.
Net profit up 20.3% at Rs 30 crore versus Rs 25 crore (Bloomberg estimate Rs 47.3 crore).
PRICOL Q1 Highlights (Consolidated, YoY)
Revenue up 15.5% at Rs 603 crore versus Rs 522 crore (Bloomberg estimate: Rs 617.8 crore).
Ebitda up 28.1% at Rs 63.5 crore versus Rs 49.6 crore (Bloomberg estimate: Rs 79.1 crore).
Margin expanded at 10.5% versus 9.5% (Bloomberg estimate: Rs 12.80%).
Net profit up 42.6% at Rs 46 crore versus Rs 32 crore (Bloomberg estimate: Rs 41.9 crore).
Relaxo Footwears Q1 Highlights (Consolidated, YoY)
Revenue up 1.3% at Rs 748 crore versus Rs 739 crore (Bloomberg estimate: Rs 788.83 crore).
Ebitda down 8% at Rs 98.9 crore versus Rs 108 crore (Bloomberg estimate: Rs 122.67 crore).
Margin contracted at 13.2% versus 14.6% (Bloomberg estimate: Rs 15.60%).
Net profit down 21.2% at Rs 44.4 crore versus Rs 56 crore (Bloomberg estimate: Rs 62.97 crore).
Sonata Software Q1 FY25 (Consolidated, YoY)
Revenue up 15.3% at Rs 2,527 crore versus Rs 2,192 crore (Bloomberg estimate: Rs 2,347.93 crore).
Ebit up 22.2% at Rs 176 crore versus Rs 144 crore (Bloomberg estimate: Rs 161.53 crore).
Margin expanded at 7% versus 6.6% (Bloomberg estimate: Rs 6.88%).
Net profit up 4.3% at Rs 106 crore versus Rs 110 crore (Bloomberg estimate: Rs 111.18 crore).
JK Lakshmi Cement Q1 FY25 (Consolidated, YoY)
Revenue down 9.6% at Rs 1,564 crore versus Rs 1,730 crore (Bloomberg estimate Rs 1,658 crore).
Ebitda up 13.3% at Rs 222 crore versus Rs 196 crore (Bloomberg estimate Rs 275 crore).
Margin at 14.2% versus 11.3% (Bloomberg estimate 16.6%).
Net profit down 15.3% at Rs 68 crore versus Rs 80 crore (Bloomberg estimate 121 crore).
Puravankara Q1 FY25 (Consolidated, YoY)
Revenue at Rs 658 crore versus Rs 323 crore (Bloomberg estimate Rs 414 crore).
Ebitda at Rs 130 crore versus Rs 63.7 crore.
Margin at 19.8% versus 19.7%.
Net profit at Rs 14.8 crore versus loss of Rs 18 crore (Bloomberg estimate Rs 4 crore).
Prestige Estates Q1 Results (Consolidated, YoY)
Revenue up 10.8% at Rs 1,862 crore versus Rs 1,681 crore. (Bloomberg estimate Rs 2,395 crore).
Ebitda up 51.2% at Rs 796 crore versus Rs 527 crore. (Bloomberg estimate Rs 743 crore).
Margin at 42.8% versus 31.3%. (Bloomberg estimate 31%).
Net profit down 3.4% at Rs 307 crore versus Rs 318 crore. (Bloomberg estimate Rs 177 crore).
Redington Q1 Results (Consolidated, YoY)
Revenue up 0.4% at Rs 21,282 crore versus Rs 21,187 crore (Bloomberg estimate Rs 21,912 crore).
Ebitda down 11.5% at Rs 371 crore versus Rs 419 crore (Bloomberg estimate Rs 467 crore).
Margin at 1.7% versus 2% (Bloomberg estimate 2.1%).
Net profit down 15% at Rs 217 crore versus Rs 255 crore (Bloomberg estimate Rs 274 crore).
Sundaram Fasteners Q1 FY25 (Consolidated, YoY)
Revenue up 6.2% at Rs 1,498 crore versus Rs 1,411 crore (Bloomberg estimate: Rs 1,414 crore).
Ebitda up 9.2% at Rs 247 crore versus Rs 226 crore (Bloomberg estimate: Rs 223.8 crore).
Margin expanded at 16.5% versus 16% (Bloomberg estimate: Rs 15.80%).
Net profit up 10.8% at Rs 143 crore versus Rs 129 crore (Bloomberg estimate: Rs 135 crore).
Phoenix Mills Q1 FY25 (Consolidated, YoY)
Revenue up 11.5% at Rs 904 crore versus Rs 811 crore (Bloomberg estimate: Rs 981.12 crore).
Ebitda up 7.9% at Rs 531 crore versus Rs 492 crore (Bloomberg estimate: Rs 561.53 crore).
Margin contracted at 58.7% versus 60.7% (Bloomberg estimate: Rs 57.20%).
Net profit up 8.2% at Rs 313 crore versus Rs 290 crore (Bloomberg estimate: Rs 284.15 crore).
Thomas Cook Q1 FY25 (Consolidated, YoY)
Revenue up 10.9% at Rs 2,106 crore versus Rs 1,899 crore (Bloomberg estimate: Rs 2,297.8 crore).
Ebitda up 9.9% at Rs 136 crore versus Rs 124 crore (Bloomberg estimate: Rs 152.4 crore).
Margin flat at 6.5% (Bloomberg estimate: Rs 6.60%).
Net profit up 3.1% at Rs 73 crore versus Rs 71 crore (Bloomberg estimate: Rs 94.3 crore).
Tata Investment Corporation Q1 Highlights (Consolidated, YoY)
Revenue down 6% at Rs 142 crore versus Rs 152 crore.
Ebitda down 8.4% at Rs 131 crore versus Rs 143 crore.
Margin contracted at 91.9% versus 94.3%.
Net profit down 11.3% at Rs 131 crore versus Rs 148 crore.
Aster DM Healthcare Q1 Highlights (Consolidated, YoY)
Revenue up 19.1% at Rs 1,002 crore versus Rs 841 crore (Bloomberg estimate: Rs 980.55 crore).
Ebitda up 34.1% at Rs 164 crore versus Rs 122 crore (Bloomberg estimate: Rs 162.4 crore).
Margin expands at 16.3% versus 14.5% (Bloomberg estimate: Rs 16.60%).
Net profit up at Rs 5,152 crore versus Rs 20 crore due to disposal of business operations at Rs 5,148 crore (Bloomberg estimate: Rs 63.95 crore).
Research Reports
Ceigall India IPO - Investment Rationale, Issue Details, Financials, Risks And More: Anand Rathi
Jindal Saw - Consistent Margins Backed By Improved Capacity Utilisation, VAP Mix: Systematix
JSW Infra - Volume Growth Trajectory To Continue: Motilal Oswal
Avenue Supermarts - Continue To Focus On Providing Value To Consumer: Centrum
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