 "Stocks To Watch Today, Aug 8: Financials, Real estate, MRF, Marico, NTPC | News on Markets")
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Stocks to Watch on Thursday, August 8: Benchmarks Sensex and Nifty50 may see a gap-down opening, influenced by weak global cues.
Asian markets were mostly in the red, reflecting China’s mixed trade data where exports fell short of expectations while imports increased. Japan’s Nikkei dropped 1.74 per cent, the Kospi fell 1.34 per cent, and the ASX200 was down 0.37 per cent.
In the US, markets dropped on Wednesday. The Nasdaq decreased 1.05 per cent, the S&P 500 fell 0.77 per cent, and the Dow Jones slipped 0.60 per cent. Investors are also awaiting initial jobless claims data for the week ending August 3.
On the domestic front, foreign institutional investors (FIIs) sold shares worth Rs 3,314.76 crore on August 7, while domestic institutional investors (DIIs) bought shares worth Rs 3,801.21 crore.
Market participants will be closely watching quarterly earnings reports and the Reserve Bank of India’s (RBI) monetary policy decision, which is scheduled for today, August 8.
Here are a few stocks to keep an eye on for August 8:
Earnings Watch: LIC, SAIL, Eicher Motors, IRCON International, Minda Corporation, MRF, ABB India, Va Tech Wabag, Oil India, Bharat Bajel Projects, Gujarat State Petronet, Forge, Biocon, Alembic Pharmaceuticals, Astral, Astrazeneca Pharma, Page Industries, Rail Vikas Nigam, Sobha, Unichem Laboratories
Listing: Ceigall India will list on the mainboard, while Dhariwalcorp will be listed on the SME board.
Rate-sensitive stocks: Sectors like Railways, Real estate, financials will closely keep a tab on RBI’s interest rate decison.
Hindalco: Hindalco reported a slight 3 per cent decline in net income to $151 million for Q1FY25, although net income excluding special items surged 32 per cent to $204 million. Adjusted Ebitda increased by 19 per cent to $500 million, with rolled product shipments rising 8 per cent to 951 kilotonnes.
NHPC: NHPC’s Q1 consolidated profit grew by 1.2 per cent to Rs 1,108.5 crore, up from Rs 1,095 crore a year ago, but revenue fell 2.3 per cent to Rs 2,694.2 crore from Rs 2,757.3 crore.
NTPC: NTPC Renewable Energy has launched the first 60 MW phase of its 150 MW Gujarat Solar PV project in Radhanpur, Gujarat, bringing NTPC’s total installed and commercial capacity to 76,134 MW.
Marico: Marico reports improved operating conditions in Bangladesh, with most of its retail sales force and distributors resuming operations after a brief interruption. Manufacturing operations are expected to resume soon.
Godrej Cons: Godrej Consumer Products saw a 41.4 per cent increase in profit to Rs 450.7 crore, up from Rs 318.8 crore Y-o-Y, despite a 3.4 per cent decline in revenue to Rs 3,331.6 crore from Rs 3,448.9 crore. The company also declared an interim dividend of Rs 5 per share.
Coromandel International: Coromandel International has appointed S Sankarasubramanian as managing director and CEO, effective August 7. Previously, he was the executive director – Nutrient Business.
Protean eGov: Protean eGov Technologies may see movement as Standard Chartered Bank is expected to sell its 3.09 per cent equity stake through block deals on August 8, with shares priced between Rs 1,750 and Rs 1,775. The total offer could reach Rs 221.9 crore at the higher end of the price range.
Welspun Corp: Welspun Corp reported a 47.2 per cent increase in profit to Rs 247.9 crore from Rs 168.5 crore, despite a 22.9 per cent drop in revenue to Rs 3,137.2 crore from Rs 4,069.3 crore.
UPL: UPL has received a favorable ruling from the High Court of Australia, which dismissed an appeal against its subsidiary Advanta, ending the Class Action over economic loss claims by growers.
Balaji Amines: Balaji Amines saw a 32.7 per cent plunge in profit to Rs 45.6 crore from Rs 67.7 crore, with revenue declining 17 per cent to Rs 384.7 crore from Rs 463.7 crore.
Lemon Tree Hotels: Lemon Tree Hotels saw a 26.9 per cent drop in profit to Rs 20.1 crore in Q1FY25 compared to Rs 27.5
crore last year (Q1FY24), despite a 19.5 per cent increase in revenue to Rs 268 crore from Rs 224.2 crore.
Apollo Tyres: Apollo Tyres reported a 23.9 per cent drop in profit Y-o-Yto Rs 302 crore from Rs 396.9 crore, though revenue grew 1.4 per cent to Rs 6,334.8 crore from Rs 6,244.6 crore.
Gujarat Pipavav: Gujarat Pipavav Port’s profit surged 61.7 per cent Y-o-Y to Rs 109.7 crore from Rs 67.8 crore, with revenue rising 14.5 per cent to Rs 246 crore from Rs 214.9 crore.
ITD Cementation: ITD Cementation India’s profit jumped 91.4 per cent Y-o-Y to Rs 100.2 crore from Rs 52.3 crore, with revenue increasing 30 per cent to Rs 2,381.5 crore from Rs 1,832.6 crore.
TVS Supply Chain Solutions: TVS Supply Chain Solutions has secured a new contract from JCB in India to manage warehousing and logistics operations at JCB’s Vadodara facility for three years.
TNPL: TamilNadu Petroproducts has seen the resignation of V Arun Roy as Chairman and Non-Executive Non-Independent Director, following TIDCO’s withdrawal of his nomination.
First Published: Aug 08 2024 | 6:57 AM IST
