Stocks to Watch on Thursday, August 10, 2023: The key benchmark indices are likely to exhibit a volatile trade on Thursday with focus on the RBI policy outcome. The markets are largely expecting the MPC (Monetary Policy Committee) to recommend no change in interest rates and stance.
At 07:45 AM, the GIFT Nifty futures quoted at 19,604, indicating a negative start of 50-odd points on the Nifty 50.
Meanwhile, these stocks are likely to see some action in trade on Thursday.
Earnings Watch: 3M India, Allcargo Logistics, Apollo Tyres, Ashapura Minechem, Ashoka Buildcon, Avanti Feeds, Bajaj Electricals, Biocon, CarTrade, Container Corporation of India, Everest Kanto, Esab India, Grasim, Greaves Cotton, GR Infraprojects, Hero MotoCorp, Indiabulls RealEstate, IPCA Labs, Lemon Tree Hotels, Life Insurance Corporation (LIC) of India, Manappuram Finance, Samvardhana Motherson, Mtar Technologies, NCC, Page Industries, Patel Engineering, Pidilite Industries, SAIL, Speciality Restaurants, Torrent Power and Zee Learn are some of the notable companies scheduled to announce June quarter earnings today.
IRCTC: The company’s Q1 net profit dipped 5.4 per cent to Rs 232.22 crore for the quarter ended June 2023 when compared with Rs 245.52 crore in the corresponding quarter a year ago. Total income, however, rose 18.7 per cent year-on-year (YoY) to Rs 1,041 crore.
Tata Power: The company’s Q1 net profit grew by 5.9 per cent to Rs 446.41 crore for the quarter ended June 2023 when compared with Rs 421.44 crore in the corresponding quarter a year ago. Total income was up 1.5 per cent YoY at Rs 5,635.67 crore.
Bata India: The company’s Q1 consolidated net profit declined 10.5 per cent to Rs 106.89 crore for the quarter ended June 2023 when compared with Rs 119.37 crore in the corresponding quarter a year ago. Total income, however, was up 2 per cent YoY at Rs 971.42 crore.
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KIOCL: The company’s Q1 net loss widened to Rs 58.04 crore for the quarter ended June 2023 when compared to a net loss of Rs 43.78 crore in the corresponding quarter a year ago. Total income, however, increased by 33.5 per cent YoY to Rs 514.50 crore.
Force Motors: The company reported a turnaround in Q1 with net profit of Rs 71.97 crore for the quarter ended June 2023 as against a net loss of Rs 12.54 crore in the corresponding quarter a year ago. Total income, however, surged 53.3 per cent YoY to Rs 1,498.91 crore.
Axis Bank: The private lender will infuse Rs 1,612 crore in Max Life Insurance through preferential allotment, which will result in the bank’s direct stake in the life insurer increasing to 16.22 per cent and the collective stake of Axis Entities increasing to 19.02 per cent.
Happiest Minds Technologies: The company plans to acquire 3-4 digital businesses in the next few quarters with an eye to scale its business to the $1 billion revenue target by 2031. The company will be targeting firms with earning revenue in the range of $10-50 million for acquisition.
Stocks in F&O ban: Balrampur Chini, Chambal Fertilisers, Delta Corp, Hindustan Copper and Indiabulls Housing Finance are the five stocks in F&O ban period on Thursday.
Primary Market Update
TVS Supply Chain Solutions: The company’s Rs 880 crore IPO opens for subscription today, in the price band of Rs 187 – Rs 197 per share.