Stocks to Watch today, Aug 10: Rate sensitives, IRCTC, Bata, Force Motors

Stocks to watch on August 10, 2023: Shares of rate sensitive sectors, such as auto, banks and real-estate will be in focus on Thursday as RBI announces its policy decision.

Stocks to Watch on Thursday, August 10, 2023: The key benchmark indices are likely to exhibit a volatile trade on Thursday with focus on the RBI policy outcome. The markets are largely expecting the MPC (Monetary Policy Committee) to recommend no change in interest rates and stance.

At 07:45 AM, the GIFT Nifty futures quoted at 19,604, indicating a negative start of 50-odd points on the Nifty 50.

Meanwhile, these stocks are likely to see some action in trade on Thursday.

Earnings Watch: 3M India, Allcargo Logistics, Apollo Tyres, Ashapura Minechem, Ashoka Buildcon, Avanti Feeds, Bajaj Electricals, Biocon, CarTrade, Container Corporation of India, Everest Kanto, Esab India, Grasim, Greaves Cotton, GR Infraprojects, Hero MotoCorp, Indiabulls RealEstate, IPCA Labs, Lemon Tree Hotels, Life Insurance Corporation (LIC) of India, Manappuram Finance, Samvardhana Motherson, Mtar Technologies, NCC, Page Industries, Patel Engineering, Pidilite Industries, SAIL, Speciality Restaurants, Torrent Power and Zee Learn are some of the notable companies scheduled to announce June quarter earnings today.

 

Hero MotoCorp: The tax authorities are investigating Hero MotoCorp's relationship with a vendor suspected of reporting about Rs 90 crore in false expenditure, two sources familiar with the matter told Reuters. READ MORE

IRCTC: The company’s Q1 net profit dipped 5.4 per cent to Rs 232.22 crore for the quarter ended June 2023 when compared with Rs 245.52 crore in the corresponding quarter a year ago. Total income, however, rose 18.7 per cent year-on-year (YoY) to Rs 1,041 crore.

Tata Power: The company’s Q1 net profit grew by 5.9 per cent to Rs 446.41 crore for the quarter ended June 2023 when compared with Rs 421.44 crore in the corresponding quarter a year ago. Total income was up 1.5 per cent YoY at Rs 5,635.67 crore.

Bata India: The company’s Q1 consolidated net profit declined 10.5 per cent to Rs 106.89 crore for the quarter ended June 2023 when compared with Rs 119.37 crore in the corresponding quarter a year ago. Total income, however, was up 2 per cent YoY at Rs 971.42 crore.

KIOCL: The company’s Q1 net loss widened to Rs 58.04 crore for the quarter ended June 2023 when compared to a net loss of Rs 43.78 crore in the corresponding quarter a year ago. Total income, however, increased by 33.5 per cent YoY to Rs 514.50 crore.

Force Motors: The company reported a turnaround in Q1 with net profit of Rs 71.97 crore for the quarter ended June 2023 as against a net loss of Rs 12.54 crore in the corresponding quarter a year ago. Total income, however, surged 53.3 per cent YoY to Rs 1,498.91 crore.

Larsen & Toubro (L&T): The company aims to invest $3-4 billion in green hydrogen projects, along with its joint venture (JV) partners. These investments are planned over three to five years, depending on cost economics. READ MORE

Axis Bank: The private lender will infuse Rs 1,612 crore in Max Life Insurance through preferential allotment, which will result in the bank’s direct stake in the life insurer increasing to 16.22 per cent and the collective stake of Axis Entities increasing to 19.02 per cent.

Happiest Minds Technologies: The company plans to acquire 3-4 digital businesses in the next few quarters with an eye to scale its business to the $1 billion revenue target by 2031. The company will be targeting firms with earning revenue in the range of $10-50 million for acquisition.

Zee Entertainment: The company posted a net loss of Rs 14.15 crore for the quarter ended June 2023 as against a net profit of Rs 248.87 crore in the corresponding quarter a year ago. Total income, however, was up 3 per cent YoY at Rs 1,844.16 crore.

Care Ratings: The company’s Q1 consolidated net profit jumped 29.8 per cent to Rs 18.36 crore for the quarter ended June 2023 when compared with Rs 14.14 crore in the corresponding quarter a year ago. Total income was up 25.5 per cent YoY at Rs 77.95 crore.

Sula Vineyards: The company’s Q1 consolidated net profit rose by 24.4 per cent to Rs 13.68 crore for the quarter ended June 2023 when compared with Rs 11 crore in the corresponding quarter a year ago. Total income was up 21.5 per cent YoY at Rs 118.16  crore.

HPL Electric & Power: The company’s Q1 net profit increased by 15.5 per cent to Rs 6.47 crore for the quarter ended June 2023 when compared with Rs 5.6 crore in the corresponding quarter a year ago. Total income was up 9.6 per cent YoY at Rs 312.93 crore.

Schneider Electric: The company’s Q1 net profit rose by 31.7 per cent to Rs 34.92 crore for the quarter ended June 2023 when compared with Rs 26.52 crore in the corresponding quarter a year ago. Total income jumped 33.8 per cent YoY to Rs 497.57 crore.

eClerx Services: The company’s Q1 consolidated net profit was up 7.2 per cent at Rs 106.66 crore for the quarter ended June 2023 when compared with Rs 99.51 crore in the corresponding quarter a year ago. Total income grew 8.2 per cent YoY to Rs 692.16 crore.

V-Mart Retail: The company posted a net loss of Rs 21.95 crore for the quarter ended June 2023 as against a net profit of Rs 20.45 crore in the corresponding quarter a year ago. Total income, however, was up 14.9 per cent YoY at Rs 680.03 crore.

Abbott India: The company’s Q1 net profit surged 41.1 per cent to Rs 290.24 crore for the quarter ended June 2023 when compared with Rs 205.64 crore in the corresponding quarter a year ago. Total income increased by 15.4 per cent YoY to Rs 1,535 crore.

Bombay Dyeing: The company’s Q1 net loss widened to Rs 119.84 crore for the quarter ended June 2023 as against a net loss of Rs 76.85 crore in the corresponding quarter a year ago. Total income, however, was down 22 per cent YoY at Rs 504.30 crore.

Sunteck Realty: The company posted a net loss of Rs 6.74 crore for the quarter ended June 2023 as against a net profit of Rs 2.49 crore in the corresponding quarter a year ago. Total income declined by 40.5 per cent YoY to Rs 88.42 crore.

Ind-Swift Labs: The company’s Q1 net profit dipped by 15.3 per cent to Rs 17.05 crore for the quarter ended June 2023 when compared with Rs 20.14 crore in the corresponding quarter a year ago. Total income, however, grew by 9.2 per cent YoY at Rs 304.56 crore.

FDC: The company’s Q1 net profit soared 48.7 per cent to Rs 108.55 crore for the quarter ended June 2023 when compared with Rs 73.02 crore in the corresponding quarter a year ago. Total income was up 9.3 per cent YoY at Rs 559.82 crore.

Thomas Cook: The company’s Q1 net profit zoomed mult-fold to Rs 46.31 crore for the quarter ended June 2023 when compared with Rs 1.02 crore in the corresponding quarter a year ago. Total income also more-than-doubled to Rs 766.28 crore from Rs 322.05 crore.

Hinduja Global Solutions: The company reported a net loss of Rs 5.15 crore for the quarter ended June 2023 as against a net profit Rs 5.41 crore in the corresponding quarter a year ago. Total income was down 9.3 per cent YoY at Rs 422.90 crore.

Stocks in F&O ban: Balrampur Chini, Chambal Fertilisers, Delta Corp, Hindustan Copper and Indiabulls Housing Finance are the five stocks in F&O ban period on Thursday.

Primary Market Update
 

TVS Supply Chain Solutions: The company’s Rs 880 crore IPO opens for subscription today, in the price band of Rs 187 – Rs 197 per share.