At 8:02 AM, the GIFT Nifty futures were trading 39 points, or 0.16% higher at 24,950, indicating a positive start to trading on Wednesday, July 31.
Here's a list of stocks that may trade actively in today's session:
Earnings today: It's a results heavy day. Maruti, Tata Steel, Mahindra & Mahindra (M&M),
Godrej Properties, Coal India, BHEL, Ambuja Cements, Adani Power, Bank of Baroda, Deepak Fertilisers, Birlasoft, KRBL, and
Greenply Industries are some of the prominent names that are slated to release their June quarter numbers today.
Tata Consumer Products: Tata Consumer Products Ltd (TCPL) on Tuesday reported a 14.34% decline in consolidated net profit to ₹289.25 crore for the first quarter ended in June 2024 on account of exceptional items and a lower share of profits from its associates and joint ventures.
Its revenue from operations rose by 16.32% to ₹4,352.07 crore during the quarter under review. Total expenses of TCPL, earlier known as Tata Global Beverages Limited (TGBL), stood at ₹3,926.29 crore, up 18.82% in the June quarter.
GAIL: GAIL (India) Ltd., the nation's largest gas transportation and distribution firm, on Tuesday reported a 77.5% jump in its June quarter net profit after earnings from the gas marketing business doubled. Consolidated net profit of ₹3,183.35 crore in April-June was higher than ₹1,792.99 crore earnings in the same period a year. While earnings from the gas transportation business rose by 40%, natural gas marketing margins doubled. Pre-tax earnings from natural gas transmission rose to ₹1,446.87 crore from ₹1,028.33 crore in April-June 2023, and natural gas marketing earnings soared to ₹2,036.13 crore from ₹1,045.87 crore.
Torrent Power:
Torrent Power on Tuesday posted an approximate 87% rise in consolidated net profit at ₹996.34 crore for June quarter FY25, mainly on the back of higher revenues. Total income rose to ₹9,110.02 crore from ₹7,413.32 crore. The board also approved the sale of 100% equity shares of Torrent Electricals Private Ltd (TEPL) to Torrent Investments Private Ltd (TIPL), the holding company, for ₹85 crore.
Jindal Stainless: Jindal Stainless Ltd. (JSL) posted a 12% fall in consolidated net profit to ₹646.07 crore during the June quarter, mainly on account of lower income. It had clocked ₹737.58 crore in net profit in the year-ago period. Total income fell to ₹9,480.50 crore from ₹10,227.20 crore in April-June 2023-24. Expenses were at ₹8,593.13 crore as against ₹9,279.15 crore in the same quarter a year ago.
Castrol India: Lube maker Castrol India Limited reported a marginal 3% growth in profit after tax (PAT) to ₹232 crore for the June 2024 quarter. The revenue from operations during the second quarter rose 5% to ₹1,398 crores compared to ₹1,334 crore in the corresponding quarter of the previous year, Castrol India said.
Castrol India follows the January-December period of the year for financial reporting.
"Our balanced focus on volumes and margins, along with our commitment to innovation and brand building, has driven revenue growth," Deepesh Baxi, Chief Financial Officer at Castrol India Limited, said.
Vedanta: The mining major announced on Tuesday that it has received a go ahead from 75% of its secured creditors for obtaining clearance from stock exchanges and subsequently filing its demerger scheme with the National Company Law Tribunal (NCLT) for its proposed demerger. Vedanta’s existing businesses will be structured into the following six independent companies after the demerger:
- Vedanta Aluminium
- Vedanta Oil & Gas
- Vedanta Power
- Vedanta Steel and Ferrous Materials
- Vedanta Base Metals
- Vedanta Limited
Indus Towers: Telecom infrastructure major
Indus Towers posted a 42% increase in consolidated profit to ₹1,925.9 crore in the first quarter ended June 30, 2024. The company reported a profit of ₹1,347.9 crore in the same period a year ago. Indus Towers consolidated revenue from operations grew by about 4% to ₹7,439.4 crore during the reported quarter, from ₹7,132.4 crore in the June 2023 quarter, the filing added.
Besides, the company announced that the board has approved the buyback of up to 5,67,74,193 (five crore sixty-seven lakh, seventy-four thousand, one hundred ninety-three only) equity shares, representing approximately 2.107% of the total number of equity shares in the paid-up share capital of the company, at a price of ₹465.
Dixon Tech: As per news reports, the homegrown contract electronics manufacturer reported a 108% growth in net profit in the first quarter of 2024–25, as compared to the corresponding quarter last year. The profit increased from ₹67.19 crore to ₹139.70 crore in Q1 FY25. The revenue grew 101% from ₹3,271.50 crore in Q1 FY24 to ₹6,579.80 crore in Q1 FY25.
South Indian Bank: The lender's board has approved raising up to ₹750 crore through QIP or another mode.
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