Stocks to Watch: ONGC, Reliance, Zomato, Adani Wilmar, IndiGo,Vodafone Idea

Stocks to Watch today: Uber has decided to put its entire 7.8 per cent stake in Zomato on the block, according to sources.

The Sensex and Nifty indices are eyeing a quiet open on Wednesday as global peers decline. US markets closed lower for a second day Tuesday on rising tensions between the US and China amid US House Speaker Nancy Pelosi‘s visit to Taiwan. 

At 7:30 am, the SGX Nifty futures were quoting at 17,370 level, up around 25 points from Nifty futures previous close. 

That said, here are some stocks that will likely be on investors’ radar today: 

Q1 Earnings: Lupin, Adani Power, InterGlobe Aviation, Vodafone Idea, Godrej Consumer Products, Aditya Birla Capital, Adani Transmission, Adani Wilmar, BASF India, Birlasoft, Chambal Fertilisers, and Devyani International, among others will release their Q1 results today. 

ONGC, Reliance: The government on late Tuesday increased the windfall tax on domestically produced crude to Rs 17,750 a tonne from Rs 17,000 a tonne earlier, a move that will hit producers like ONGC and Vedanta Ltd. Also, the government lowered the export tax on aviation turbine fuel and diesel, which is a positive for Reliance. This is the second round of the revision of the newly-introduced windfall tax. The new changes will come to effect from August 3. Read here

Zomato: Uber has decided to put its entire 7.8 per cent stake in the restaurant aggregator on the block, according to sources. According to a term sheet, total 612 million shares of Zomato would be up for sale at a price band of Rs 48- Rs 54 apiece. At the lower end, the share sale would fetch Rs 2,939 crore, while at the top end, the deal size could be Rs 3,305 crore. This block transaction is likely to take place on Wednesday. Read here

Adani Green: The company has posted a fall of over 2 per cent in consolidated net profit at Rs 214 crore in the April-June quarter of FY23, due to higher expenses. The company's total income rose to Rs 1,701 crore in the first quarter of the current fiscal. It was at Rs 1,079 crore in the same period last year. Read more

Voltas: Air conditioning and engineering services provider Voltas reported a decline of 10.47 per cent in its consolidated net profit at Rs 109.62 crore in the first quarter ended June 30, 2022. However, its revenue from operations increased 55.05 per cent to Rs 2,768 crore during the period under review as against Rs 1,785.20 crore in the corresponding period of the previous fiscal. Read here

Adani group: The Adani group will digitally integrate its businesses, link data centres, build globally largest industrial cloud operations and develop a super app to offer a suite of services across its 400-million customer base, it said on Tuesday. The Adani group announced its foray in industrial 5G space after acquiring 400 MHz of spectrum in the 5G airwaves auction that concluded on Monday. Read more

Godrej Properties: Godrej Properties’ June quarter consolidated net profit nearly tripled to Rs 45.55 crore while sales bookings jumped five times to Rs 2,520 crore. The Mumbai-based developer announced that company's Managing Director (MD) and Chief Executive Officer (CEO) Mohit Malhotra has resigned with effect from December 31 this year. Gaurav Pandey will become the new MD and CEO from January 1 next year. Read more

Yes Bank: Yes Bank will convene an extraordinary general meeting on August 24 to seek shareholders' approval for the proposed capital infusion of Rs 8,900 crore by US-based private equity investors Carlyle and Advent. Read here

ITC: The company on Tuesday said it has exited the lifestyle retailing business following a strategic review of the business portfolio. The company entered the lifestyle retailing business more than two decades ago under the Wills Lifestyle brand. It sold a range of apparel including formal, casual, evening and designer wear under the brand. Read here 

Subex: Reliance Jio Platforms announced a partnership with Subex for its AI Orchestration Platform, HyperSense, which can enable telcos to deliver on the promise of AI across the data value chain. 

Paradeep Phosphates: The company reported a 4.7 per cent year-on-year increase in consolidated profit at Rs 62.77 crore for the quarter ended June 2022. Revenue from operations grew 85 percent YoY to Rs 2,434.66 crore during the same period.

Lemon Tree Hotels: The hotel chain operator has recorded a consolidated profit at Rs 13.57 crore in Q1FY23, as against loss of Rs 59.8 crore in year-ago period. Revenue rose 356 percent YoY to Rs 192 crore for the quarter.

Thermax: The company recorded a 39 per cent YoY growth in consolidated profit at Rs 58.95 crore for the Q1FY23 supported by top line and operating performance. Revenue surged 57 percent YoY to Rs 1,654.48 crore in Q1FY23.

Aurobindo Pharma: The company's API non-antibiotic manufacturing facility in Andhra Pradesh has received a 'Form 483' with 3 observations, but none of these observations is related to data integrity. The US FDA inspected the company's Unit XI from July 25 to August 2. 

Jubilant Pharmova: The US FDA has issued six observations to the company's solid dosage manufacturing facility at the Roorkee plant. 

BEML: The firm has received nod from the Ministry of Corporate Affairs (MCA) sanctioning the scheme of arrangement for the demerger between the company (demerged) and BEML Land Assets. 

Deepak Nitrite: The company has reported revenue of Rs 2067.60 crores during the period ended June 30 as compared to Rs. 1875.89 crores during the period ended March 31, 2022. Its net profit came at Rs 234.62 crores when compared to net profit of Rs 267.21 crores last quarter. 

F&O ban: Escorts is under F&O ban on Wednesday.