GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap down opening on Friday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded lower as the index was down 210 points or 0.84% at 24,845 indicating a lower start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 closed the session 60 points or 0.24% higher to settle at 25,011, while the BSE Sensex rose 126 points or 0.15% to close at 81,868.

Stocks to watch on August 02, 2024

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Infosys announced on Thursday that Karnataka’s Goods and Services Tax Department has withdrawn the pre-show cause notice issued to the Bengaluru-based software services provider. 

Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea Stocks To Watch: Tata Steel, Bharti Airtel, HPCL, ACC, RVNL Stocks To Watch: Vedanta, Vodafone Idea, Happiest Minds Technologies, Asian Paints, Piramal Enterprises Stocks To Watch: UltraTech Cement, Paytm, Power Grid, Cipla, ICICI Bank

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.

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.