Equities are all set to open with deep cuts on Monday, August 5, amid weak global cues. Fears of a US recession weighed on global stocks last week, causing the US benchmark indices to settle with big losses. The Nasdaq Composite confirmed it was in correction territory after a soft jobs report stoked fears of an oncoming recession.
The Labor Department, as per a Reuters report, said nonfarm payrolls in the US increased by 114,000 jobs last month, well short of the 175,000 average forecast by economists polled by Reuters. The unemployment rate jumped up to 4.3%, near a three-year high.
In the early trade, Asian shares traded lower, and oil prices hovered at eight-month lows amid fears of a recession in the United States.
As regards the domestic market, at 07:51 AM, the GIFT Nifty futures were trading 283.50 points, or 1.15% lower at 24,344.50, indicating a negative start for Nifty and Sensex.
Here's a list of stocks that may remain in focus today:
Earnings today: A host of companies, including Bharti Airtel, Bharti Hexacom, ONGC, Tata Chemicals, Century Ply, Avanti Feeds, Marico, BEML, and
Brigade Enterprises, are slated to announce their June quarter earnings today.
Britannia Industries: The FMCG maker on Friday reported a 10.85% rise in consolidated net profit at ₹504.88 crore for June quarter FY25, helped by volume growth and improved operating margins. The company had posted a net profit of ₹455.45 crore for the April-June period a year ago, PTI reported. Revenue from the sale of products was up 4.03% to ₹4,129.92 crore in the June quarter. Revenue from operations was up 5.97% to ₹4,250.29 crore in the June quarter.
Titan Company: The leading jewellery retailer and watchmaker, reported on Friday a 5.42% decline in its consolidated net profit to ₹ 715 crore for the quarter ended June 2024. The company posted a net profit of ₹756 crore in the April-June quarter a year ago.
However, its sales were up 12.64% to ₹12,223 crore during the quarter under review. It was ₹10,851 crore for the corresponding quarter, according to a regulatory filing from Titan. Total expenses increased 12.75% to ₹12,413 crore in the June quarter.
Titan's total income in the June quarter rose 11.44% to ₹13,386 crore.
LIC Housing Finance:
LIC Housing Finance on Friday reported a 2% decline in its profit to ₹1,300 crore for the first quarter ended June 30. The LIC-promoted housing finance company reported a profit of ₹1,324 crore in the year-ago period. The total income increased to ₹6,784 crore during the quarter against ₹6,747 crore in the same period last year.
Delhivery: Logistics firm
Delhivery posted a profit after tax (PAT) of ₹54 crore for June quarter FY25 on Friday. In the year-ago period, the company incurred a loss of ₹89 crore. Revenue in the quarter was ₹2,172 crore. In the year-ago period, it was ₹1,930 crore, the company said in a statement. Besides, EBITDA (earnings before income, taxes, depreciation, and amortisation) stood at ₹97 crore in Q1 FY25. In the year-ago period, EBITDA was ₹13 crore.
SBI: The State Bank of India (SBI) on Saturday reported an almost flat standalone net profit of ₹17,035 crore for the first quarter of the current financial year. The country's biggest lender posted a net profit of ₹16,884 crore in the April-June quarter of 2023–24. The bank's total income increased to ₹1,22,688 crore in the first quarter against ₹1,08,039 crore a year ago. During the quarter, the bank earned an interest income of ₹1,11,526 crore, compared to ₹95,975 crore in the year-ago period.
Divi's Labs: The pharma company's consolidated net profit jumped 20.79% to ₹430 crore in Q1 FY25 as against ₹356 crore recorded in Q1 FY24. Revenue from operations grew by 19.12% year-on-year to ₹2,118 crore in the quarter ended June 30, 2024.
Amara Raja Energy & Mobility (ARE&M): The company posted a 26% rise in consolidated net profit to ₹249.12 crore for the June quarter FY25. It had reported a net profit of ₹198.31 crore for the April–June period of 2023–24, the company said in an exchange filing on Saturday. Revenue from operations rose to ₹3,263.05 crore from ₹2,796.27 crore in the year-ago quarter.
Genus Power: As per BSE bulk deal data on August 2, Nomura India Investment Fund Mother Fund bought 5,970,313 shares of the company at ₹346.50 apiece.
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