Stocks To Watch On August 2: Sensex advanced 126 points to close at an all-time high, while broader Nifty scaled the historic 25,000 mount for the first time in a volatile trade on Thursday. In today’s trade, shares of Titan, Hindustan Zinc, ITC, SpiceJet, Zomato among others will be in focus due to first quarter results and various news developments.
Key Earnings to watch: Archean Chemical Industries, CAMS, Delhivery, Dhanuka Agritech, Glaxosmithkline Pharmaceuticals, Hindustan Zinc, Kirloskar Brothers, LIC Housing Finance, Medplus Health Services, Mold-Tek Packaging, PSP Projects, Saregama India, Sheela Foam, Sudarshan Chemical Industries, Titan Company, UPL, and Zydus Wellness will release their Q1 FY25 results on August 02.
Infosys: Infosys announced on Thursday that Karnataka’s Goods and Services Tax Department has withdrawn the pre-show cause notice issued to the Bengaluru-based software services provider.
The company was asked to provide additional responses to the Directorate General of GST Intelligence’s central authority regarding the matter, though no further details were provided in its statement to the exchanges.
Adani Enterprises: Adani Enterprises recorded its fiscal first-quarter profit at Rs 1454.50 crore, posting a growth of 115.8% in comparison to Rs 673.93 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 25,472.40 crore, up 12.5% as against Rs 22,644.47 crore reported during the same period of the previous fiscal year, driven by strong operational performance by ANIL Ecosystem and Airports.
Dabur: Dabur reported better-than-expected June quarter profit, driven by volume growth in rural markets. The company reported an 8% jump in its consolidated net profit for Q1FY25 to Rs 500 crore, against a Bloomberg consensus estimate of Rs 496 crore. Consolidated revenue for the quarter stood at Rs 3,349 crore, up 7% on year, slightly above the Bloomberg consensus estimate of Rs 3,343 crore.
Tata Motors: Tata Motors reported a 74% on year jump in its consolidated net profit to Rs 5,566 crore in Q1 FY25 in comparison to Rs 3,203 crore. The automaker stated that its June quarter revenue from operations rose 5.7% to Rs 1,07,316 crore, from Rs 1,01,528 crore a year ago.
JSW Infrastructure: JSW Group has announced plans to transform its infrastructure arm, JSW Infrastructure, into a complete logistics solutions provider. It also plans to increase its cargo handling capacity by 2.4 times. Arun Maheshwari, joint managing director and CEO of JSW Infrastructure, spoke to Financial Express about the company’s strategy and outlook for the business.
Thermax: Thermax Group reported an 82% year-on-year growth in consolidated net profit to Rs 109 crore for the April-June quarter, with revenue increasing by 13% y-o-y to Rs 2,184 crore. Last year’s profit was adversely impacted by an exceptional charge of Rs 51 crore related to litigation. The order booking for the June quarter stood at Rs 2,569 crore, with the order balance as of June 30, up 2% to Rs 10,681 crore.
Zomato: Zomato posted its fiscal first quarter earnings with profit at Rs 253 crore, a growth of 12550% in comparison to Rs 2 crore recorded during the corresponding quarter of FY24. Q1FY24 was the first quarter when Zomato was in black. It posted revenue from operations at Rs 4,206 crore, up 74.1% as against Rs 2,416 crore during the same period of previous fiscal year.
Sun Pharmaceutical: Sun Pharmaceutical’s Q1FY25 net profit came in at Rs 2,835.62 crore, up 40.2% from Rs 2,022.54 crore in Q1FY24. The company’s consolidated Q1FY25 revenue from operations came in at Rs 12,653 crore, up 6% from Rs 11,940.84 crore a year ago. The Q1 performance was driven by strong sales in both domestic and US markets. The India formulation sales came in 16.4% higher while US formulation sales were stable at $466 million.
ITC: ITC announced its fiscal first-quarter earnings with a profit of Rs 5176.99 crore, marginally lower than Rs 5190.71 crore recorded during the first quarter of the previous fiscal year. Its revenue from operations stood at Rs 20,029.60 crore, up 3% as against Rs 19446.49 crore recorded during the June quarter of FY24.
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