Stocks To Watch- LIC, Hero MotoCorp, Grasim, Adani Enterprises, Torrent Pharma, ONGC, GCPL, Nykaa, Info Edge
时间:2024-06-17 07:32:57 阅读(143)
Stocks in focus: The GIFT Nifty was flat during Friday’s early trading session, up by 0.09% at 19,557, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex. On Thursday, the equity benchmarks closed lower after the RBI policy announcement. Nifty 50 declined 0.46% to close at 19,543.1. On the other hand, Sensex slipped over 300 points to end at 65,688.18.
“Inflation concerns have resurfaced in the domestic market after the RBI elevated their CPI forecast by 30 basis points to 5.4%, thereby increasing the chances of a protracted rate cut trajectory. Furthermore, the RBI’s move to control liquidity through incremental CRR dented the sentiments of the banking sector, although the impact is projected to be limited. Against this backdrop, investors will be closely watching the US inflation print today and the domestic inflation data on Monday,” said Vinod Nair, Head of Research at Geojit Financial Services.
Hero MotoCorp posted a net profit at Rs 824.72 crore for the first fiscal quarter, up 32% on-year from Rs 624.52 in the year-ago period. The rise in profit was driven by price hikes and a better product mix.
Grasim IndustriesAditya Birla Group flagship Grasim Industries on Thursday posted its fiscal first quarter consolidated profit at Rs 2,576.35 crore, down 6.6% as against Rs 2,758.75 crore during the corresponding quarter of FY23.
Adani Enterprises, Adani WilmarAdani Enterprises on Thursday denied reports of the company selling its 44% stake in its joint venture with Wilmar Group in Adani Wilmar.
Torrent PharmaTorrent Power posted over 6% on-year rise in consolidated net profit at Rs 532.28 crore in the June quarter, mainly on the back of higher revenues. The company had reported consolidated net profit of Rs 502.01 crore a year ago.
Godrej Consumer ProductsGodrej Consumer Products (GCPL) signed a memorandum of understanding (MoU) with the government of Tamil Nadu to set up a manufacturing facility in the state, entailing an investment of Rs 515 crore over the next five years.
Apollo TyresApollo Tyres on Thursday said its consolidated net profit increased over two-fold to Rs 397 crore for the June quarter on account of robust sales across markets. The company had reported a net profit of Rs 177 crore in the April-June quarter of last fiscal.
Zee EntertainmentThe proposed merger between Zee Entertainment and Culver Max Entertainment (Sony India) has been approved by the NCLT. Following the news, shares of ZEEL hit a fresh 52-week high.
ONGC, Nykaa, Info Edge (India), Muthoot Finance, TTK Prestige, Patanjali Foods, NALCO, Godrej Industries, Glenmark Pharmaceuticals, Power Finance, Jindal Steel & PowerShares of ONGC, Nykaa, Info Edge (India), Muthoot Finance, TTK Prestige, Patanjali Foods, NALCO, Godrej Industries, Glenmark Pharmaceuticals, Power Finance, Jindal Steel & Power will be in focus today as the firms gear up to announce their first fiscal quarter earnings results.
(With agency inputs.)
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