New Delhi: Indian indices closed lower on Tuesday after initial gains. The Sensex closed at 78,593.07, down 166.33 points, while the Nifty slipped 63.05 points to 23,992.55. Weak US jobs data led to a decline in Indian indices led by investor fears that the US economy may be headed towards recession.
Here are stocks that are likely to remain in focus today on August 7, 2024:
TVS Motor: The 2-wheeler maker’s Q1 profit rose 6 per cent to Rs 461 crore backed by strong quarterly sales. The company reported a Q1 total income of Rs 10,448 crore during the period under consideration from Rs 9,142 crore in the year-ago period, according to an exchange filing.
Renewable energy stocks: Renewable energy stocks are likely to remain in focus on Wednesday, August 7, 2024, as the country is expected to receive up to Rs 30 lakh crore worth of investment this year, according to Union minister Pralhad Joshi’s response to questions in the Rajya Sabha on Tuesday.
Tata Power: The Tata group company said it plans to pick up a 40 per cent stake worth Rs 830 crore in Khorlochhu Hydro Power (KHPL) to set up a 600 MW hydro project in neighbouring Bhutan. The company has also inked an agreement with the Druk Green Power Company for a Rs 6.900 crore hydro project in Bhutan.
Gland Pharma: The pharma company reported a 26 per cent on-year decline in Q1 profit after tax to Rs 144 crore from Rs 194 crore a year ago. The company’s revenues expanded to Rs 1,402 crore from Rs 1,209 crore a year ago.
Gujarat Gas: The company’s Q1 net profit slipped 19.5 per cent to Rs 329.8 crore from the previous quarter. The company’s revenue expanded 7.5 per cent to Rs 4,450.3 crore from the previous quarter.
Vedanta: Commodities giant Vedanta on Tuesday said that it has officially filed the scheme for demerger before the National Company Law Tribunal (NCLT) after receiving the green signal from banks. Vedanta’s Q1 consolidated ne profit rose 36.5 per cent to Rs 3,606 crore from Rs 2,640 crore a year ago.
Banking stocks: Stocks of public and private sector lenders will be in focus after MoS finance Pankaj Chaudhary said bank writeoffs in Fy24 stood at Rs 1.70 lakh crore compared to Rs 2.08 lakh crore in the year-ago period.
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Stocks in News Today: From Tata Power to Vedanta, here are stocks that are likely to remain in focus today on August 7, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
