New Delhi: Indian indices closed higher on Tuesday led by a jump in utilities and power stocks. The 30-share BSE Sensex rose 99.56 points to 81,455.40 while the Nifty was up 21.20 points to 24,857.30 at market closing. Despite heavy profit booking, investors are optimistic about the US Federal Reserve’s meeting this week in which it is expected to provide guidance on rate cuts. The market cap of BSE-listed companies jumped to a new record high of $5.50-trillion on Tuesday for the first time. Here are stocks that are likely to remain in focus today:
Adani Energy Solutions: The Adnai Grpup company raised $1 billion via share sale through QIP mode. The issue was oversubscribed 3X. This is the first such fundraise since the controversy marred QIP of January 2023.
Adani Wilmar: The Adani group company plans to expand its edible oil processing business and FMCG portfolio with an eye on expanding its volumes, said its MD and CEO Angshu Malick.
Dixon Technologies: The contract manufacturer reported reported a 101 per cent jump in revenues to Rs 6,579.8 crore to Rs 3,271 crore. The company’s net profit doubled to Rs 140 crore in the Juen quarter.
Exide: The battery maker reported a Q1 profit after tax of Rs 280 crore, up 16 per cent from Rs 242 crore in the year ago period backed by automobile and industrial sector growth.
GAIL: The gas distributor reported a 77.5 per cent surge in its Q1 net profit to Rs 3,183.35 crore from Rs 1,792.99 crore in the year-ago period.
IOCL: The state-owned oil marketing company reported an 81 per cent decline in Q1 net profit to Rs 2,643.18 crore from Rs 13,750.44 crore in the year-ago period as the company’s bottom line was hurt by a government cap on LPG prices.
Jindal Stainless: The company reported a Q1 consolidated net profit of Rs 646.07 crore, down 12 per cent on-year basis, from Rs 737.58 crore a year ago.
Paradeep Phosphates: The company received the CCI’s nod for the amalgamation of Mangalore Chemicals and Fertilisers into itself.
REC: The state-owned power financier’s arm REC Power Development and Consultancy handed over its SPV to Techno Electric & Engineering Company. NERGS-I Power Transmission will establish a new 400 kV switching station in Assam.
Torrent Power: the comoany reported an 88 per cent jump Rs 972 crore in the June quarter, from Rs 517 crore a year ago.
TTK Prestige: The realtor’s board will consider a share buyback plan during its meeting on August 2, 2024. The share buyback plan will be the second after June 2017.
Varun Beverages: The PepsiCo franchisee reported a 28 per cent on-year jump in revenues to Rs 7,197 crore. The company’s net profit jumped 26 per cent on-year to Rs 1,252.6 crore. The Pepsi bottler’s EBITDA jumped 31.8 per cent on-year basis.
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Stocks in News Today: From IOC to Dixon Technologies, here are stocks that are likely to remain in focus today. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
