The domestic benchmark indices are expected to see a negative start on Tuesday, July 30, amid subdued global cues. In the overnight trade, US stocks ended mixed.
The Dow Jones Industrial Average closed down 49.41 points, or 0.12%, at 40,539.93, while the S&P 500 rose 4.44 points, or 0.08%, to 5,463.54. The Nasdaq Composite advanced 12.32 points, or 0.07%, to 17,370.20.
In the morning trade, oil prices traded near seven-week lows as a softening demand outlook weighed on commodities, while bond, currency, and stock markets traded cautiously ahead of rate-setting meetings in the US and Japan and a host of big-ticket earnings.
At 7:55 AM, the GIFT Nifty futures were trading 21 points, or 0.08%, lower at 24,857.50 levels.
Here's a list of stocks that may trade actively in today's session:
Earnings today: GAIL, Tata Consumer Products, Castrol India, Titagarh Rail Systems,
Torrent Power, MOIL, Indian Oil Corporation,
Exide Industries, and Star Health and Allied Insurance Company, among others, are slated to release their June quarter results today.
PNB Housing: As per news reports, Carlyle Group entity Quality Investment Holdings Pcc will sell up to a 6.4% stake in the housing finance company for ₹1,255 crore via open market deals. The public investor held a 32.68% stake in PNB Housing as of June.
ACC: Cement maker ACC Ltd. reported on Monday a decline of 22.46% in its net profit to ₹361.40 crore in the first quarter ended June 2024. The company had posted a profit of ₹466.14 crore in the April-June quarter a year ago, according to a regulatory filing from ACC, now a part of Adani Cement. Its revenue from operations was marginally lower at ₹5,154.89 crore during the quarter under review. It was ₹5,201.11 crore in the corresponding period a year ago.
Its revenue from the cement business was marginally down to ₹4,852.26 crore against ₹4,877.63 crore in the corresponding quarter. Revenue from ready-mix concrete was 9.33% down to ₹328.83 crore from ₹362.69 crore a year ago.
Colgate Palmolive (India): FMCG major
Colgate-Palmolive India on Monday reported a 33% rise in net profit at ₹363.98 crore for the first quarter ended June 2024, helped by a demand pickup and good performance of products. The oral hygiene product maker posted a net profit of ₹273.68 crore in April-June FY24, according to a regulatory filing from Colgate-Palmolive India Ltd (CPIL). Sales were up 13% to ₹1,485.76 crore during the quarter under review as against ₹1,314.73 crore in the corresponding period a year ago.
Kalpataru Projects International: The company posted a 26% decline in consolidated net profit to ₹84 crore for the June 2024 quarter, dragged by higher expenses. It had clocked ₹113 crore in profit in the year-ago period, the company said in an exchange filing. The company's total income rose to ₹4,609 crore from ₹4,259 crore in April–June 2023–24. The expenses surged to ₹4,472 crore from ₹4,094 crore a year ago.
HPCL: State-owned
Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a massive 90% drop in net profit in the June quarter as refinery margins fell and a fuel price reduction slashed marketing margins. HPCL reported a consolidated net profit of ₹633.94 crore in April-June—the first quarter of the current 2024–25 fiscal year—compared to a profit of ₹ 6,765.50 crore a year ago.
Pfizer: The drug firm, as per news reports, on Monday (July 29) reported a 61.2% year-on-year (YoY) jump in net profit at ₹150.7 crore for the first quarter that ended June 30, 2024. EBITDA jumped 60.3% year-on-year to ₹177 crore.
ITD Cementation: The company announced on Monday, July 29, that it has won a contract for constructing a residential colony in New Delhi (Phase II) worth approximately ₹1,237 crore, including taxes and duties.
.png)
