After the Monday carnage, domestic equities are expected to see a gap-up opening on Tuesday, August 6. At 7:53 AM, the GIFT Nifty futures, an early indicator of NIFTY50, were trading 168 points, or 0.70% higher at 24,290 levels.
Asian markets, too, returned to sanity. In the early trade, Japanese stocks rebounded sharply after their biggest single-day rout since the 1987 Black Monday sell-off in the previous session. Last seen, the Nikkei was up 8.1% to 34,004.22, while the broader Topix was trading 8.57% higher.
Here is a list of stocks that may trade actively in today's session:
Earnings today: TVS Motor Company, Tata Power, NCC, Lupin, Credo Brands Marketing,
PB Fintech and JM Financial are among the companies that are slated to declare their June quarter earnings (Q1 FY25) today.
Tata Chemicals: The company on Monday reported a 72% decline in its consolidated net profit to ₹150 crore for the first quarter of this fiscal year on lower income and higher expenses. Its net profit stood at ₹532 crore in the year-ago period. Net profit from continuing operations declined to ₹175 crore from ₹578 crore.
Total income also declined to ₹3,836 crore in the April-June period of 2024–25 from ₹4,267 crore in the corresponding period of the previous year, according to a regulatory filing.
ONGC: State-owned
Oil and Natural Gas Corporation (ONGC) on Monday reported a 15% drop in its June quarter net profit on higher exploration cost write-offs. Its net profit of ₹8,938.10 crore in April-June—the first quarter of the current 2024–25 fiscal year—is compared to ₹10,526.78 crore in earnings in the same period of last year, according to a stock exchange filing by the company.
The profit was also lower sequentially compared to ₹9,869.37 crore in the January-March quarter.
Bharti Airtel: Telecom operator
Bharti Airtel reported a more than 2.5-times jump in its consolidated profit to ₹4,160 crore in the first quarter ended on June 30, 2024, compared to the year-ago period. The company posted a profit of ₹1,612.5 crore in the same period a year ago.
The consolidated revenue from operations of Bharti Airtel increased by 2.8% to ₹38,506.4 crore during the reported quarter from ₹37,440 crore in the June quarter of the last year. Bharti Airtel's India revenue increased by 10.1% to ₹29,046 crore on a year-over-year basis.
Indian Oil Corporation: For the third time in a row, the state-run oil marketing company has scrapped the tender to build the country's first green hydrogen plant at its refinery in Panipat, Haryana, according to a report by The Economic Times.
Marico: The FMCG company on Monday reported an 8.71% rise in consolidated net profit to ₹474 crore for the first quarter ended June 30, helped by volume gains and gross margin expansion. It had posted a net profit of ₹436 crore a year ago, according to a regulatory filing by Marico.
Adani Energy Solutions (AESL): The company on Monday said it has raised ₹8,373.10 crore through qualified institutions placement route to build capacity for the evacuation of electricity from renewable sources. It is the company's first equity raise in the capital market since its demerger and listing from Adani Enterprises Limited (AEL) in July 2015, AESL said in an exchange filing.
InterGlobe Aviation: IndiGo announced on Monday it will offer business-class seats on flights across 12 domestic routes starting in mid-November.
IEX:
Indian Energy Exchange on Monday said it has achieved the highest-ever total trade volume of 13,250 million units (MU) in July 2024, registering an increase of 56% year-over-year.
BLS International: The company reported its financial results for the quarter ended June 30, 2024, on Monday. The company's consolidated net profit grew by 70.1% YoY to ₹120.8 crore, while revenue from operations grew by 28.5% YoY to ₹492.7 crore.
EBITDA of the company surged to ₹133.2 crore during the quarter from ₹80.1 crore in Q1 FY24, registering a growth of 66.3% YoY. EBITDA margin expanded by 615 bps to 27.0% in Q1 FY25 from 20.9% in Q1 FY24, as per the company's media release.
MTNL: State-owned telecom company MTNL has defaulted on bank loan payments worth ₹422.05 crore, a regulatory filing said on Monday. The total default amount comprises ₹328.75 crore of default on the installment of principal and ₹93.3 crore of interest on debt for June and July.
Reliance Industries (RIL): The 47th annual general meeting (AGM) of the members of the company will be held on Thursday, August 29, 2024, at 2:00 p.m., the company said in its exchange filing on Monday.
Jio Financial Services: The company's first AGM will be held on Friday, August 30, 2024.
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