Stocks To Watch- GAIL (India), Maruti Suzuki, Reliance Industries, State Bank of India, Adani Green, PVR Inox

Stocks To Watch: GAIL (India), Maruti Suzuki, Reliance Industries, State Bank of India, Adani Green, PVR Inox

Stocks in focus: The GIFT Nifty traded flat during Tuesday’s early trading session, higher by 0.02% at 19,890.5, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex. Benchmark indices NSE Nifty 50 and BSE Sensex ended with gains on Monday, snapping a two day losing streak. The Nifty 50 added 10.8 points to close at 19,753.8. On the other hand, Sensex advanced 0.56% to end at 66,527.67.

“Indian indices have resumed their rally, following the global market trend, as cooling inflation across the globe gave hopes of an end to the policy tightening era. The latest positive development was the Eurozone’s inflation slowing for the third consecutive month in July, coming in at 5.3%, in line with market predictions. Moreover, the euro zone economy grew by 0.3% during the June quarter, according to preliminary estimates, slightly surpassing market expectations,” said Vinod Nair, Head of Research at Geojit Financial Services.

Maruti Suzuki

Maruti Suzuki reported its Q1 sales at 4,98,030 units, a growth of 6.4% compared to the same period last year. Maruti Suzuki’s domestic sales stood at 4,34,812 units, growing 9.1% on-year. Additionally, Maruti Suzuki’s board has approved the termination of the contract manufacturing agreement with Suzuki Motor Gujarat (SMG). Presently, Suzuki Motor Corporation holds 100% equity capital of SMG. The acquisition of 100% equity capital by Maruti Suzuki India from SMC is a related party transaction and is expected to be completed by FY24.

Adani Green

Adani Green Energy posted a consolidated net profit of Rs 323 crore for the first fiscal quarter, up 50.93% on-year. The firm’s total revenue came in at Rs 2,404 crore, up 41.32% from Rs 1,701 crore in the corresponding quarter in the previous fiscal year.

Reliance Industries

Reliance Retail has launched a new laptop targeting students who are looking for an affordable laptop with smart capabilities. Jio has now unveiled a new JioBook laptop at Rs 16,499. JioBook runs on the JioOS operating system, which is based on Android.

State Bank of India

India’s largest lender SBI raised Rs 10,000 crore via an infrastructure bond issue at coupon rate of 7.54% on 31 July, with a 15 year tenor. The proceeds of bonds will be utilised in enhancing long term resources for funding infrastructure and affordable housing segments.

EaseMyTrip

EaseMyTrip is set to acquire a 51% stake in Guideline, Tripshope and Dook each, in an all stock deal. The consideration will be paid by issuing equity shares to the selling shareholders of the companies on a preferential basis.

Anant Raj, Adani Total Gas, Bikaji Foods, Cholamandalam Finance, Dalmia Bharat Sugar, Escorts Kubota, PVR Inox

Shares of Anant Raj, Adani Total Gas, Bikaji Foods, Cholamandalam Finance, Dalmia Bharat Sugar, Escorts Kubota, PVR Inox will be in focus today as they gear up to announce their first fiscal quarter earnings results.