Stocks to Watch on Friday, July 14, 2023: The Sensex and Nifty are likely to notch gains in opening trades on Friday backed by positive overseas cues.
At 07:30 AM, the GIFT Nifty futures quoted at 19,544, indicating a gap-up of 50-odd points on the Nifty 50.
Meanwhile, these stocks are likely to see some action in trade on Friday.
Senco Gold: The stock will debut on the bourses today. The stock was quoted at a premium of 30 – 35 per cent in the grey market, thus indicating a listing gain of over Rs 100 to the issue price.
Results in Focus: Bandhan Bank, CCL Products, Coromandel Engineering, Den Networks, GTPL Highway, JSW Energy, Just Dial, Kesoram Industries, Tata Steel Long Products and Unichem Labs are some of the prominent firms scheduled to announce June quarter earnings on Friday.
Wipro: The company posted a net profit of Rs 2,870 crore in Q1FY24, up nearly 12 per cent from a year ago but down 6.6 per cent quarter-on-quarter (QoQ). Revenues for the quarter grew 6 per cent from the year-ago period to Rs 22,831 crore. READ MORE
Dixon Technologies: In a major shift in its strategy, Chinese mobile device manufacturer Xiaomi is set to begin exporting ‘made in India’ phones to West Asian countries. It is said to be in advanced talks with Dixon Technologies and other homegrown electronic manufacturing services (EMS) players for local production of its phones. READ MORE
Aptech: The company’s board has approved issue of bonus shares in the 2:5 ratio; i.e. two free shares for every shareholder holding five equity shares as of the record date.
Also Read : Easy hacks: 47% Indians willing to alter travel plans for bargain deals
OMCs Results preview: Lower crude oil costs and higher marketing margins are expected to raise the fortunes of oil marketing companies (OMCs) in the first quarter (Q1) of 2023-24 (FY24), while city gas distribution (CGD) companies could also benefit from lower spot prices of liquefied natural gas (LNG). READ MORE
Jubilant Foodworks: The firm plans to invest Rs 750 crore towards capital expenditure this fiscal to open around 220 outlets and others.Patanjali Foods: The company’s offer for sale (OFS) saw more bids than shares on offer on Thursday with institutional investors placing bids for 45.63 million shares as against a total of 32.6-million shares put on the block. The base issue size was of 25.34 million shares, and the firm had said it will retain another 7.24 additional bids in case of oversubscription. However, the firm announced it will not exercise the greenshoe option.
Angel ONE: The brokerage firm has posted a 21.7 per cent growth in Q1FY24 net profit at Rs 220.80 crore when compared with Rs 181.50 crore in Q1FY23. Total income rose by 18.5 per cent YoY to Rs 811.10 crore.
State Bank of India (SBI): The state-run bank has raised Rs 3,101 crore through AT1 bond at 8.1 per cent.
Tata Metaliks: The company’s net profit jumped nearly 4-fold to Rs 4.55 crore in Q1FY24 as against Rs 1.22 crore in the year ago period. Total income, however, was down 2.3 per cent YoY at Rs 653.94 crore.
Stocks in F&O ban: Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, PNB and Zee Entertainment are the seven stocks in F&O ban period on Friday.
Primary Market Update
Utkarsh Small Finance Bank IPO was subscribed over 15 times at the end of Day 2 of the offer period. The issue closes today, July 14.