Stocks to Watch Today, August 12: Adani Group, IIFL,PNB,ONGC, Berger Paints

Stocks to watch today, August 12, 2024: GIFT Nifty indicates a negative start for the benchmark equity indices on Monday. Here is the list of buzzing stocks to watch during today's trading session

Stocks to Watch Today, Monday, August 12, 2024:  Shares of Adani Groups will remain in focus on Monday due to new allegations from the US-based Hindenburg Research against Securities and Exchange Board of India (Sebi) Chairperson Madhabi Buch and her husband, Dhaval Buch, claiming that the couple had stakes in offshore entities linked to the alleged Adani Group money siphoning case. Sebi and Buch have issued separate statements refuting the allegations as baseless

Due to this, the benchmark equity indices, the BSE Sensex and the NSE Nifty 50, are likely to start the week's first trading session on a volatile note.  

At 7:50 AM, GIFT Nifty futures were quoting over 39 points lower at 24,365 levels.

In Asia, South Korea's Kospi up 0.98 per cent, and Asia Dow traded up 0.30 per cent on Monday morning, while Hong Kong's Hang Seng traded lower by 0.40 per cent and the Shanghai Composite was down 0.13 per cent.

Earlier, on Friday, August 9, Wall Street's major indices settled with gains, with the S&P 500 and tech-heavy Nasdaq Composite adding 0.47 per cent and 0.51 per cent respectively. Meanwhile, the Dow Jones Industrial Average advanced 0.13 per cent.

Here is a list of stocks to watch today, August 12:

Q1FY25 Results on Monday: 63 Moons Technologies, Abhijit Infra, ABVL, Advait Infratech, Anjani Foods, Asian Energy Services, Balrampur Chini Mills, BCG, BCL Enterprises, BCL Industries, Coromandel Engineering Company, Dalmia Industrial Development, Dhanlaxmi Bank, Godrej Properties, Goyal Aluminiums, Grauer & Weil (India), Grandlay Electricals (India), GRM Overseas, Grovy India, GSL Securities, GSTL, GTV Engineering, Happiest Minds Technologies, Hindustan Copper, Hindustan Oil Exploration Company, IRFC, Kaveri Seed Company, National Aluminium Company, Petronet LNG, P H Capital, Phosphorus (India), Pharmaids Pharmaceuticals, Piccadily Agro Industries, Piccadily Sugar & Allied Industries, Picturehouse Media, Pilani Investment and Industries Corporation, Pioneer Embroideries, Pioneer Investment, Platino Interiors, Polychem, Power Mech Projects, PSL, PTC Industries, Punjab National Bank, Purbanchal Laminates, Raghunath Tobacco Company, Rajkamal Synthetics, Raj Rayon Industries, Rajvir Industries, Rallis India, Rathi Graphic Technologies, Ravalgaon Sugar Farm, Raymed Pharmaceuticals, and Reliance Communications.

IIFL: Hindenburg alleged that an Adani director set up IPE-Plus Fund 1 through the former IIFL Wealth Management (now 360-One WAM) to invest in Indian markets and artificially inflate Adani group stock prices. However, 360-One WAM clarified on Sunday that its IPE-Plus Fund 1, in which Sebi Chairperson Madhabi Puri Buch and her husband had invested, did not make any direct or indirect investments in Adani group shares during its tenure.

Oil and Natural Gas Corporation (ONGC): The company, in a regulatory filing, has said that it has received approval from the Government of India for the infusion of additional equity capital up to Rs 10,501 crore in ONGC Petro additions Limited, the conversion of back-stopped Compulsorily Convertible Debentures (CCDs) amounting to Rs 7,778 crore, and the balance payment of Rs 86 crore with respect to share warrants, totaling Rs 18,365 crore.

Sterling and Wilson Renewable Energy: The leading domestic renewable EPC has announced that it has received new order for the Engineering, Design, Testing & Commissioning of a 400 MW AC/ 633 MW DC PV plant along with Supply & Works for a 33/220 kV switchyard to be built at the plant for a PV project in Rajasthan, India. The total value of works, including taxes, levies, and duties, is approximately Rs 550+ crore.

Amara Raja Energy & Mobility: Amara Raja Advanced Cell Technologies, a wholly owned subsidiary of Amara Raja Energy & Mobility Limited (ARE&M), one of India’s leading battery manufacturers, has signed a Memorandum of Understanding (MoU) with Piaggio Vehicles Private Limited, a 100% Indian subsidiary of the Italian auto giant, Piaggio Group.

Grasim Industries: The company reported consolidated revenue of Rs 33,861 crore in Q1FY25, up 9 per cent year-on-year (YoY), driven mainly by a strong performance in its diversified business portfolio, the company said in a filing to the stock exchanges. The company's net profit, however, fell 23.4 per cent YoY to Rs 1,208 crore during the quarter under review. The company has also announced its standalone capital expenditure of Rs 4,553 crore for the ongoing financial year (FY25).

Zydus Lifesciences: The company has reported a 30.66 per cent year-on-year (YoY) surge in profit after tax (PAT) to Rs 1,482.5 crore during the first quarter of the financial year 2024-25. Zydus’s revenue from operations increased by 20.79 per cent YoY to Rs 6,207.5 crore.

Berger Paints: The paint major reported a marginal decline in its consolidated net profit to Rs 353.56 crore in Q1FY25 as against Rs 354.35 crore posted in Q1FY24. The company's revenue from operations jumped 2.03 per cent to Rs 3,091.01 crore in the June quarter, from Rs 3,029.51 crore recorded in Q1FY24.

Inox Wind: The company has reported a Rs 50 crore profit after tax during Q1FY25 on account of a surge in income. Inox Wind had reported a loss of Rs 65 crore in the corresponding quarter of the preceding financial year, the company said in an exchange filing. The company's total revenue surged 85 per cent to Rs 651 crore from Rs 352 crore in the year-ago period.

Aurobindo Pharma: The Hyderabad-based drug maker said that its consolidated net profit increased 61 per cent year on year to Rs 919 crore in the first quarter of FY25, aided by strong sales across markets. The company had reported a net profit of Rs 571 crore in the corresponding quarter of last fiscal.

IPO Corner:

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