New Delhi: Indan indices closed in red on Tuesday after investors took time to digest the Union Budget 2024 in which finance minister Nirmala Sitharaman announced a raft of populist measures while making small changes to the Income Tax slab under the new tax regime. Here are stocks that are likely to be in focus on Wednesday:
Tata Consumer Products: The Tat Group company plans to raise Rs 3,000 crore. The MFCG giant has fixed the record date for July 27, 2024. The rights issue will begin on August 5, 20204, and end on August 19, 2024.
Railway PSU stocks: Railway PSU stocks will be in focus after the Union Budget allocated Rs 2,62,000 crore for the upgradation of railway tracks as well as installation of safety features.
United Spirits: The company reported a 1.7 per cent rise in net profit to Rs 485 crore compared to Rs 477 crore in the year ago period. The alcohol maker’s revenue rose 3.5 per cent to Rs 2,761 crore from a year ago.
ICICI Prudential: The insurer reported a Q1 annual premium equivalent of Rs 1,963 crore, up 34.4 per cent on-year basis. The company’s value of new business stood at Rs 472 crore in Q1FY25.
Torrent Pharma: The pharma major reported Q1 net profit of Rs 457 crore, lower than analysts’ estimates. Revenue was also reportedly lower than estimated at Rs 2859 crore in Q1FY25.
Jewellery companies: Stocks of companies such as Titan, Senco and more will be in focus after the finance minister reduced import duties on gold and silver in the Union Budget.
HUL: The FMCG giant reported Q1 net profit of Rs 2,538 crore, up 2.7 per cent on-year basis, while its Q1 revenue stood at Rs 15,339 crore, up 1.3 per cent year-on-year.
Vedanta: The commodities giant will consider the issuance of a second interim dividend in FY25 on July 26, 2024. The company announced a Rs 11 per share interim dividend for FY25 in May.
Bajaj Finance: The consumer loans giant reported a Q1 net profit of Rs 3,912 crore, up 13.8 per cent on-year basis, while the net interest income stood at Rs 3,912 crore.
Telecom stocks: Reliance Industries, Bharti Airtel and Vodafone Idea will be in focus after the government raised the duty on import of certain telecom sector equipment.
SpiceJet: The budget carrier reported plans to raise Rs 3,000 crore via the issuance of securities to qualified institutional buyers.
NTPC: The navratna PSU’s stock will be in focus on Wednesday after the finance minister announced plans for an NTPC-BHEL JV to set up 800 MW supercritical thermal power plants.
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Stocks in News Today: From Bajaj Finance to Vedanta, here are stocks that are likely to remain in focus today, on July 24, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
