return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Stocks
    /
  5. Stocks to watch: SBI, real estate stocks, Pidilite Industries, NHPC, Lemon Tree Hotels, and more

Market News

Stocks to watch: SBI, real estate stocks, Pidilite Industries, NHPC, Lemon Tree Hotels, and more

Upstox
By Upstox News Desk

3 min read | Updated on August 07, 2024, 08:14 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Realty stocks are expected to hog the limelight as the government has decided to roll back its Budget proposal to remove indexation benefits on long-term capital gains (LTCG) tax from the sale of unlisted assets.

Stock list

PIDILITIND
--
PIIND
--
LEMONTREE
--
VEDL
--
The government announced on August 6 that it has approved the proposal of the Department of Financial Services to appoint Challa Sreenivasulu Setty as chairman of the State Bank of India.

The government announced on August 6 that it has approved the proposal of the Department of Financial Services to appoint Challa Sreenivasulu Setty as chairman of the State Bank of India.

At 7:42 AM, the GIFT Nifty futures traded 171.50 points, or 0.71% higher, at 24,299, indicating a positive start for the domestic stocks on Wednesday, August 7.

Here is a look at the stocks that may remain in focus today:
Real estate stocks: Realty stocks are expected to hog the limelight as the government has decided to roll back its Budget proposal to remove indexation benefits on long-term capital gains (LTCG) tax from the sale of properties.

As per news reports, taxpayers now have the option to pay LTCG tax at a rate of 20% with indexation benefit or at a new rate of 12.5% without indexation benefit for properties acquired before July 23, 2024, as per amendments moved in the Finance Bill. Taxpayers are expected to choose the option that results in a lower tax amount.

Earnings today: Dr Lal PathLabs, NHPC, Pidilite Industries, Radico Khaitan, Lemon Tree Hotels, Hindustan Motors, and Godrej Consumer Products are slated to announce their June quarter numbers today.
Bata India: Shoemaker Bata India on Tuesday reported an increase of 62.84% in its consolidated net profit at ₹174.36 crore in the first quarter ended June 2024, helped by margin expansion and gains from the sale of industrial land. It had posted a net profit of Rs 106.89 crore in the April-June period a year ago, according to a regulatory filing from Bata India.

However, its revenue from operations was down 1.41% to Rs 944.63 crore during the quarter under review. It was at Rs 958.14 crore in the corresponding period a year ago.

ALSO READ | These Indian companies face pressure as Bangladesh plunges into crisis
SBI: The government announced on August 6 that it has approved the proposal of the Department of Financial Services to appoint Challa Sreenivasulu Setty as chairman of the State Bank of India on or after August 28, 2024. Setty’s appointment will be for a period of three years.
Auto stocks are expected to remain in focus as, according to reports, auto companies' exports are going to take a severe hit due to political turmoil in Bangladesh. As per a report by The Economic Times, Bajaj Auto, India's largest exporter of two- and three-wheelers, ships around 3.6% of its monthly exports to Bangladesh. At Hero MotoCorp, Bangladesh contributes 20–30% of its sales outside India.
PB Fintech: PB Fintech, the parent firm of Policybazaar, on Tuesday reported a consolidated net profit of ₹60 crore for the quarter ended June 30, 2024 (Q1 FY25), against a loss of ₹12 crore reported in the year ago period. The revenue grew 52% YoY to ₹1,010 crore.
Tata Power: Tata Power on Tuesday said it has logged a 31% rise in consolidated net profit at ₹1,189 crore, compared to the year-ago period, on the back of operational efficiency.

"At ₹1,189 crore, growing 31% YoY (year-on-year), the company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of generation, transmission & distribution, and renewables," Tata Power said in a statement.

According to the statement, these businesses contributed 84% of the PAT (net profit) in Q1 FY25, compared to 72% in the same period in FY24.

Suzlon Energy: Suzlon Group on Tuesday said it has acquired a 51% stake in Renom Energy Services Private Limited for ₹400 crore to strengthen its operation and maintenance (O&M) services in the wind energy sector, according to a company press release.
Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story