Stocks to watch: Shares of firms like Adani Ent, Coal India, Tata Power, Oil India, IRCTC, Zee, and others will be in focus on Wednesday’s trade.
Stocks To Watch on August 9: Nifty futures traded 42 points, or 0.21 per cent, higher at 19,602.50, signaling that Dalal Street was headed for a positive start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
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Earnings Watch: Abbott India, Bata India, Berger Paints, Bombay Dyeing, DreamFolks Services, eClerx, EID Parry, FDC, Force Motors, Gujarat Pipavav, Granules India, HPL Electric Power, Igarashi Motors, IRCTC, Kalyan Jewellers, KIOCL, Natco Pharma, Power Mech Projects, Ratnamani Metals, Schneider Electric, SJVN, Sula Vineyards, TajGVK Hotels, Tata Power, TD Power Systems, Thomas Cook, Trent, Veranda Learning Solutions, VGuard, Vijaya Diagnostic Centre, Zee Entertainment and Zuari Agro Chemicals are some of the notable companies scheduled to announce June quarter earnings today.
Adani Enterprises, Adani Wilmar: Adani Group’s flagship firm is exploring selling its 44 per cent stake in its joint venture with Wilmar International, freeing up capital for their core business.
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Siemens: The company’s Q1 consolidated net profit jumped 51.8 per cent to Rs 455.50 crore for the quarter ended June 2023 when compared with Rs 300.90 crore in the corresponding period of FY23. Total income was up 14.4 per cent year-on-year (YoY) at Rs 4,873.20 crore.
Coal India (CIL): The company’s Q1 consolidated net profit declined by 10.1 per cent to Rs 7,941.40 crore for the quarter ended on June 30 as against Rs 8,834.22 crore in the corresponding quarter a year ago. Total income, however, was up 4 per cent YoY at Rs 37,521 crore.
Tata Power: The company announced an investment of up to Rs 13,000 crore for setting up two pumped hydro storage projects (PSPs) in Maharashtra, with a combined capacity of 2,800 MW.
Maruti: The four-wheeler major’s board approved the issue of shares on a preferential basis to Suzuki Motor Corporation (SMC) for the acquisition of the Gujarat plant from its Japanese parent for a better grip of production, including that of electric vehicles (EVs).
Exide Industries: Construction of the company’s greenfield lithium-ion cell manufacturing project in Bengaluru is going on in full swing and commercial production of the first phase is expected by the end of FY25.
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Oil India: The company’s Q1 consolidated net profit rose by 3.7 per cent to Rs 1,613.4 crore for the quarter ended June 2023 when compared with Rs 1,555.5 crore in the corresponding period of FY23. Revenue from operations, however, declined by 22 per cent YoY to Rs 4,644 crore.
Inox Wind: Promoters Inox Wind Energy and Devansh Trademart have sold 4.5% and 2.8% stake each in Inox Wind through block deals at a weighted average price of Rs 208 a piece.
Jet Airways: Jet Airways’ loss narrows to Rs 50.7 crore for the first quarter. Revenue from operations were at Rs 37.6 crore.
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