The domestic equities are expected to open in the red on Wednesday, July 24, as indicated by Gift Nifty. The index futures were trading 33 points, or 0.14% lower at 24,403.50 levels at 8:14 am.
Here is a list of stocks that may trade actively in today's session:
Bajaj Finance:
Bajaj Finance reported a smaller-than-expected first-quarter profit on Tuesday, owing to higher provisions for bad loans. The company reported a consolidated net profit of ₹3,912 crore ($467.5 million) for the quarter ended June 30, compared to analysts' estimates of ₹4,029 crore, as per LSEG data, as per news reports.
Bajaj Finance's loan losses and provisions - the money set aside to cover potential defaults - grew nearly 70% to ₹1,685 crore, well ahead of analysts' estimate of ₹1,466 crore.
HUL: The FMCG major on Tuesday reported a 2.2% rise in consolidated net profit at ₹2,612 crore for the June quarter FY25.
The company had logged a net profit of ₹2,556 crore in April-June FY24, according to a regulatory filing from HUL. Revenue from product sales was marginally up 1.68% at ₹15,497 crore as against ₹15,240 crore in the year-ago period.
Total expenses were at ₹12,385 crore in June quarter FY25, up 1.8% year-on-year.
Earnings today: A host of companies such as Axis Bank, L&T, Bajaj Finserv, IGL,
SBI Life, Trident, Mahindra Lifespace Developers, Syngene, Oracle Financial Services, Petronet LNG, among others are slated to release their June quarter numbers today.
Real estate stocks: DLF,
Oberoi Realty, Prestige Estates, and other real estate stocks are expected to trade actively, a day after the stocks took a heavy beating following the removal of indexation benefits on property sales in the Budget 2024 speech.
Infrastructure stocks such as L&T, Siemens, among others will continue to hog the limelight on Wednesday as well. Shares of the sector slipped yesterday as the government retained its capex target of ₹11.11 lakh crore. There were expectations that the government would increase the target.
United Spirits:
United Spirits Ltd on Tuesday reported a 1.7% rise in consolidated net profit to ₹485 crore for the June quarter. The company had posted a consolidated net profit of ₹477 crore in the year-ago period. Consolidated revenue from operations were at ₹6,238 crore in the first quarter of the current fiscal as against ₹5,808 crore a year earlier, it added.
SpiceJet: No-frills carrier SpiceJet on Tuesday said its board has approved raising Rs 3,000 crore through issuance of securities.The airline, which has been facing multiple headwinds, has been looking to raise more funds. It had posted a standalone profit of Rs 119 crore in the three months ended March.
Titagarh Rail Systems Limited (TRSL) said on Tuesday that the company has commenced the export of traction converters, pursuant to which the first batch of eight converters were shipped to Titagarh Firema S.p.A (Titagarh Firema), Italy on July 19, 2024. The said export is part of a EUR 7.18 million (Rs 65 crore Approx.) order received by TRSL from Titagarh Firema and marks the first rollout of traction converters from Passenger Rolling Stock Facility of Titagarh, India.
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