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Stocks to watch: Infosys, RIL, Vi, LTIM, Asian Paints, Paytm

wondigital

July 19, 2024

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The Indian stock markets are likely to open higher today due to a combination of global factors. GIFT Nifty futures had a neutral to positive start at 6:40 AM, trading little higher at 24,672 levels.

The Nasdaq had a steep fall of 2.79 percent, its worst day since 2022, while the S&P 500 plummeted 1.39 percent. In the US, the Dow Jones finished up 0.58 percent, crossing 41,000 for the first time. The Jobless claims figures for the week ending July 13 are anticipated by US markets and will be made public later in the day.

Markets around Asia followed Wall Street’s decline, with Japan’s Nikkei falling 2.01% as a result of lower-than-expected trade data, and Australia’s ASX200 and Korea’s Kospi falling 0.01 and 1.01 percent, respectively.

On July 16, domestic institutional investors sold shares worth Rs 529.48 crore, while overseas institutional investors were net purchases of shares worth Rs 1,271.45 crore.

Stocks to watch

Today, several companies, including Infosys, L&T Technology Services, Persistent Systems, Dalmia Bharat, Ceat, Havells India, Central Bank of India, Andhra Cements, Grindwell Norton, JSW Infrastructure, Mastek, Newgen Software Technologies, Polycab India, and Tata Communications, are slated to announce their Q1 earnings, shaping market sentiment.

Asian Paints: In Q1FY25, Asian Paints reported a 24.6% decrease in net profit to Rs 1,186.8 crore, while revenue fell 2.3% to Rs 8,969.7 crore. On a year-over-year (Y-o-Y) basis, earnings before interest, taxes, depreciation, and amortisation (Ebitda) decreased by 20.2% to Rs 1,693.8 crore, resulting in a margin decline to 18.9% from 23.1%.

LTIMindtree: The company’s Q1FY25 consolidated results revealed a 2.8% growth in sales to Rs 9,142.6 crore, which helped to sustain a 3.1% increase in net profit to Rs 1,135.1 crore. Ebit increased by 4.8% to Rs 1,370.9 crore, increasing the margin from 14.7% to 15%.

L&T Finance: Driven by a 17.4% growth in revenue to Rs 3,784.4 crore, L&T Finance saw a 29.1% increase in net profit to Rs 685.5 crore in Q1. A 13% increase in the total book size to Rs 88,717 crore was supported by a 23% spike in net interest revenue to Rs 2,020 crore.

Network18 Media and Investments: The company announced a 3% drop in Q1 sales to Rs 3,141 crore, along with an operational Ebitda loss of Rs 148 crore as opposed to Rs 84 crore in the prior period.

Zee Entertainment Enterprises: The board of Zee Entertainment Enterprises has approved raising money by issuing foreign currency convertible bonds (FCCBs) with a 5.0% interest rate to a limited group of investors for a total of $239 million, or around Rs 1,997.22 crore.

Alok Industries: Despite a 28.9% drop in sales to Rs 1,006.3 crore, Alok Industries reported a narrower Q1FY25 net loss of Rs 206.9 crore. EBITDA improved to Rs 20.75 crore, a significant rise of 68.6%, and the margin improved to 2.06%.

Adani Green Energy: Driven by greenfield expansions, Adani Green Energy’s provisional operational report showed a 31% increase in operational capacity to 10,934 MW. Energy sales increased by 22%, with noteworthy capacity utilisation factors in the portfolios of solar, wind, and hybrid energy sources.

Elecon Engineering Company: Compared to Q1FY24, Q1FY25 consolidated net profit increased by 0.5% to Rs 73.4 crore from Rs 72.96 crore. Revenue fell to Rs 392.4 crore from Rs 414.3 crore, a 5.3% yearly fall.

Hathway Cable & Datacom: From Rs 22.4 crore in Q1FY24 to Rs 18.32 crore in Q1FY25, the net profit decreased by 18%. Revenue rose by 0.7% to Rs 502.6 crore from Rs 499.2 crore during the same period.

Kolte-Patil Developers: From Rs 513 crore in Q1FY24 to Rs 612 crore in Q1FY25, collections increased by 19%. Sales value increased from Rs 701 crore to Rs 711 crore, a 1% YoY increase.

One 97 Communications (Paytm): Paytm’s large customer base and technological know-how will be leveraged by FoxBus in a strategic relationship to improve distribution capabilities.

Bharti Airtel: As of May 2024, Bharti Airtel has grown its subscriber base by 12.50 lakh, or 66.2 percent, over the previous month. This gave it a 33.17 percent market share of all wireless users.

Reliance Industries: As of May 2024, Reliance Jio has 21.95 lakh new consumers and held a 40.6% market share of all wireless subscribers.

Bajaj Finance: For infractions found during an inspection spanning FY18 to FY20, Bajaj Finance was fined Rs 2 crore by the Insurance Regulatory Development Authority of India (IRDAI). The business has been told to follow instructions as soon as possible.

ONGC: ONGC has started producing from its coal bed methane block in Bokaro, Jharkhand. By the end of the fiscal year, output is likely to increase from 1,70,000 SCMD to 3,00,000 SCMD.

Techno Electric & Engineering Company: On July 16, the company announced the opening of its Qualified Institutions Placement (QIP) offering, with a floor price of Rs 1,506.58 per share.

ESAF Small Finance Bank: Kadambelil Paul Thomas has been reappointed as Managing Director & CEO for a period of three years, beginning on October 1, 2024, by the Reserve Bank of India.

Glenmark Pharmaceuticals: The US Food and Drug Administration (US FDA) has given Glenmark Pharmaceuticals final clearance for Topiramate USP capsules, which are used to treat epilepsy.

TVS Motor Company: In order to expand internationally, TVS Motor Company will spend 200 million pounds in Norton Motorcycles, with an initial concentration on the USA, Germany, France, Italy, and India.

Aditya Birla Money: The company’s net profit for the first quarter increased by a strong 73.4 percent to Rs 16.4 crore, with net interest income increasing by 47.8 percent to Rs 88.5 crore.

Just Dial: The company’s Q1 results revealed a 69.3% increase in net profit to Rs 141.2 crore, which was bolstered by a 13.6% increase in sales to Rs 280.5 crore. With a 119.8% increase in EBITda to Rs 80.6 crore, the margin rose to 28.7%.

TV18 Broadcast: Q1FY25 consolidated revenue from Rs 3,176 crore in Q1FY24 dropped by 3% to Rs 3,069 crore. Compared to a loss of Rs 54 crore the previous year, Operating Ebitda indicated a loss of Rs 109 crore. The EBITda loss for the entertainment sector increased to Rs 149 crore from Rs 49 crore.

SpiceJet: Ashish Kumar has left his position as the company’s CFO and head of finance. With effect from July 15, Joyakesh Podder has been named head of finance and designated deputy CFO.

GMR Airports: According to GMR Airports, passenger traffic increased by 8% in June compared to the same month last year, with increases in both domestic and international travel coming in at 6.4% and 12.8%, respectively. Additionally, aircraft movements increased by 6% YoY.

With effect from September 30, 2024, Anuj Poddar has resigned from his position as managing director and CEO of Bajaj Electricals in order to explore other possibilities.

KEC International: KEC International won major contracts from Power Grid Corporation of India and the United Arab Emirates, among other new orders totaling Rs. 1,100 crore for transmission and distribution projects in India, the Middle East, Australia, and the Americas.

Vodafone Idea: As of May 2024, Vodafone Idea still held an 18.66% market share of all wireless subscribers, while reporting a loss of 9.24 lakh users.

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