New Delhi: Indian indices closed higher on Friday based on global cues as Wall Street indices rallied following lower-than-expected US inflation print, fuelling expectations of a rate cut by the US Federal Reserve soon. All eyes will be on the minutes of the US Federal Open Market Committee or FOMC meeting that toom place in July 2024. Another major cue will be the Japan inflation print, also expected this week, said Santosh Meena, Head of Research, Swastika Investmart.
The BSE Sensex closed 1,330.96 points or 1.68 per cent higher at 80,436.84 on Friday, while the NSE Nifty rose 397.40 points or 1.65 per cent to close at 24,541.15.
Here are stocks that are likely to remain in focus on Monday, August 19, 2024:
Ajmera Realty: The real estate company received an A- rating with a stable outlook from rating agency CRISIL, it said on Saturday. The company currently operates 7 projects with 11.31 lakh sq ft of saleable areas, it said.
BPCL: The state-owned oil marketing company announced plans to invest Rs 1.7 lakh crore over a 5-year period in its core business of oil refining and fuel marketing, apart from ‘future big bets’ such as petrochemicals and green energy, according to BPCL chairman G Krishnakumar.
Hero MotoCorp: The two-wheeler manufacturer said it had received a GST demand notice of over Rs 17 crore from the Delhi GST authorities on August 17, 2024, according to a regulatory filing. The total amount quoted above includes an actual tax demand of Rs 9,38,66,513, interest worth Rs 7,32,15,880 and a penalty of Rs 93,86,651.
Macrotech Developers: The realty firm reported a 43.5 per cent in Q1 net debt to Rs 4,320 crore owing to a higher investment in acquiring land and construction. The company’s Q1 net debt stood at Rs 3,010 crore in the year go period.
Maruti Suzuki: The carmaker announced plans to expand deferred tax liability provisions by Rs 850 crore for FY25 with an eye on the withdrawal of MF-related indexation benefits. This is likely to have a one-time impact on its Q2FY25 net profit, it said.
Samvardhana Motherson: The auto parts manufacturing company’s arm acquired a 34 per cent stake in Motherson Auto Solutions from Sojitz Corp for a consideration of Rs 236.5 crore, making the latter its wholly owned unit.
TVS Motor Co: The 2-wheeler maker said it plans to expand EV sales to developing and developed markets, with an eye on making India a major E2W export hub said Director and CEO KN Radhakrishnan. The company sold 52,000 E-2-wheelers in Q1FY25, compared to 39,000 units in the year-ago period.
Zomato: The food delivery app operator’s quick grocery delivery arm Blinkit rolled out Rakhi orders from multiple countries to near and dear ones in India. Residents in the US, Canada, the Netherlands, Germany, France, and Japan can order gifts on Blinkit.
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Stocks in News Today: From Ajmera Realty to Zomato, here are companies whose stocks are likely to remain in focus on Monday, August 19, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
