Share Market News, Stocks to Track on July 24: Domestic equity benchmarks rose on Wednesday, July 23, amid buying interest in financial, IT and energy shares, though selling pressure in FMCG counters limited the upside. The Sensex gained 539.8 points to close at 82,726.6 while the Nifty50 added 159 points to 25,219.9. Globally, the United States signed a trade agreement with Japan, easing some concerns about the ongoing trade war thanks to US President Donald Trump’s aggressive and unpredictable trade moves. Yet, looming uncertainty over an interim India-US trade deal ahead of the US President’s August 1 deadline kept Dalal Street investors on edge.
Investors awaited more earnings from India Inc for domestic cues.Â
Here are a number of stocks that are set to be in focus on Thursday. Â
Corporate earnings
Infosys reported a strong set of quarterly numbers after market hours on Wednesday. Its consolidated net profit stood at Rs 6,921 crore while revenue came in at Rs 42,279 crore.
According to Zee Business research, Infosys was estimated to report a net profit of Rs 6,604 crore with revenue of Rs 41,990 crore or $4,886 million for the first quarter of the financial year.
ALSO READ:Â Infosys earnings in points
More than 60 companies are slated to report their quarterly results on Thursday, including Bajaj Finance, Canara Bank, Tanla, and SBI Life.Â
Dividend stocks | Hero MotoCorp, Radico Khaitan…
A number of stocks are set to trade ex-dividend at the opening bell on Thursday, including Hero MotoCorp, Crompton Greaves Consumer, UTI AMC, and Radico Khaitan.
Spandana Sphoorty Financial rights issue
Spandana Sphoorty Financial is scheduled to trade ex-rights.Â
Bajaj Consumer Care
The company’s board is set to meet on Thursday to consider a share buyback proposal.Â
Tata Consumer Products
The Tata group company has staged a strong operational performance for the April-June period, with 15 per cent growth in PAT and a 9.8 per cent increase in revenue.
Its June-quarter EBITDA margin came in at 12.7 per cent.
According to Zee Business research, Tata Consumer Products was estimated to log a margin of 10.8 per cent.
Bajaj Housing Finance
The NBFC staged a mixed financial performance with a 21 per cent jump in net profit and 7.8 per cent growth in NII.
The company’s asset quality deteriorated.
Cigniti Technologies
The company staged a weak financial performance for the June quarter, with a 10 per cent fall in its net profit.Â
Supreme Petrochem
The company reported an 11.9 per cent fall in revenue to Rs 1,387 crore for the quarter ended June 30.
Its EBITDA slumped 29 per cent to Rs 115 crore and profit declined 34 per cent to Rs 81 crore.
Dr Reddy’s Laboratories
The drug maker’s quarterly top and bottom lines beat analysts’ estimates but its margin fell.
Its consolidated profit came in at Rs 1,418 crore, as against an estimated Rs 1,349 crore.
Force Motors
The auto maker staged a strong financial performance for the June quarter, with nearly 22 per cent revenue growth and a 33 per cent jump in EBITDA.
The company’s PAT jumped 52 per cent to Rs 176 crore while its margin improved by 120 bps to 14.4 per cent.
Persistent Systems
The company’s profit and revenue met Street estimates.
Its June-quarter margin was stable at 15.54 per cent.Â
Thyrocare Technologies
The company staged a strong financial performance for the June quarter, with a 62 per cent jump in its net profit.
Angel One
The brokerage has proposed a JV with LivWell for its foray into life insurance.
The company will acquire a 26 per cent stake for Rs 104 crore, while the remaining 74 per cent will be with LivWell Holding.
Inox Wind
The company has fixed Rs 120 per share as the price for its rights issue.Â
BEML
The PSU has secured a Rs 294-crore defence order from the Ministry of Defence.Â
The contract involves the supply of HMV 6X6 vehicles.
Tilaknagar Industries
The company is set to acquire the Imperial Blue brand from Pernod Ricard in a Rs 4,150-crore deal.
The acquisition will transform Tilaknagar into a pan-India player in the alco-bev market.
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