Stocks to Watch: IndusInd Bank, ICICI Pru, HDFC Bank, Patanjali Foods, IOC, and Others - News18
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Stocks to Watch on July 18
Stocks to watch: Shares of firms like IndusInd Bank, ICICI Pru, HDFC Bank, Patanjali Foods, IOC, and others will be in focus on Tuesday's trade.
Stocks to Watch on July 18: Nifty futures traded 1.5 points, or 0.01 per cent, lower at 19,778, signaling that Dalal Street was headed for a muted start on Tuesday. Here’s a slew of stocks that will be in focus today for various reasons.
Results today: IndusInd Bank, ICICI Prudential Life Insurance, ICICI Lombard, Polycab India, L&T Tech, CIE Automotive, TV18 Broadcast, Network18 Media, Heidelberg Cement, among others will report the April-June quarter results of fiscal year 2023-24 (Q1FY24).
HDFC Bank: The private sector lender reported a rise in net profit of 30 per cent year-on-year (YoY) to Rs 11,952 crore in Q1FY24 on the back of steady loan growth and treasury gains. Net interest income for the quarter, meanwhile, grew 21.1 per cent YoY.
LTIMindtree: The company registered 4.1 per cent YoY and 3.4 per cent quarter-on-quarter (QoQ) increase in net profit to Rs 1,152.3 crore in Q1FY24. The company’s revenue, too, saw a jump of 13.8 per cent YoY to Rs 8,702.1 crore in the recently concluded quarter.
Tata Elxsi: The company’s profit rose marginally by 2.2 per cent YoY to $23 million in the June-ended quarter, while revenue from operations climbed 17.1 per cent to $103.6 million. The management remains cautious on the sector’s short-term growth amid delayed deal closures and muted media and communications growth.
Ashok Leyland: The company won major orders for defence vehicles, valued at Rs 800 crore. The contracts awarded to Ashok Leyland include for the production of “field artillery tractors” (FAT 4×4) and “gun towing vehicles” (GTV 6×6).
Patanjali Foods: GQG Partners has invested around Rs 2,400 crore in Patanjali Foods. In the offer of sale (OFS), the GQG Group picked a 5.96 per cent stake or 21.5 million shares in the FMCG company.
Indian Oil Corporation: The refiner signed long-term liquefied natural gas (LNG) import deals with United Arab Emirates’ Abu Dhabi Gas Liquefaction and France’s TotalEnergies. The supplies under the two deals is likely to commence from calendar year 2026.
Ircon International: The company bagged orders worth Rs 144 crore from N F Railway Construction in Manipur. The work was awarded for integrated tunnel communication systems, and optical fibre cable-based industrial grade network systems.
Sheela Foam: The company will buy a 94.66 per cent stake in Kurlon Enterprises at an equity valuation of Rs 2,150 crore. The indicative time period for the completion of the acquisition is by or before November 30, 2023.
Coal India: According to reports, Coal India, a government-owned port, and a state waterways body, are planning to invest up to $1.46 billion to build an industrial water transport corridor in eastern India.
Hathway Cable: The company reported a 6.62 per cent increase in consolidated net profit to Rs 22.36 crore in Q1FY24, while revenue from operations was 11.63 per cent higher at Rs 499.23 crore.
Adani Total Gas: Oil regulator PNGRB rejected Adani Total Gas’s application for licence to retail CNG to automobiles and piped gas to household kitchens in Noida, on the outskirts of the national capital, on grounds that it does not meet criteria.
Karur Vysya Bank: The lender reported a 57 per cent rise in net profit to Rs 359 crore in Q1FY24, while NII increased by 20 per cent to Rs 897 crore during the quarter under review.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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