Stocks to watch today: With the benchmark indices hitting new highs on Wednesday, heavyweights like HDFC Bank, Reliance Industries (RIL), ITC, and Bajaj Finance banked on market sentiment and fared well. The 30-share index of the BSE stood at 67,097.44, up 302 points, or 0.45 per cent, while the NSE's Nifty closed at 19,833, up 84 points, or 0.42 per cent. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

At 8:15 am, the GIFT Nifty was trading 26 points, or 0.13 per cent lower at 19,837.5 levels, indicating a flat to negative start to trading on Dalal Street on Thursday.

With the earnings season underway, companies like L&T Finance Holdings, Tata Communications, and Bank of Maharashtra declared their first-quarter results on Wednesday. Hindustan Unilever, Havells, and Coforge will be some of the prominent companies that will declare their results on Thursday (July 20).

With many developments, the share market on Thursday is expected to see a lot of movement in shares.

ZeeBiz takes you through a list of stocks that will be on investors' radars on Thursday.

Results today July 20 

Union Bank of India, South Indian Bank, Mphasis, Coforge, Zensar Technologies, Tanla Platforms, Persistent Systems, ICICI Securities, IndiaMART, Dalmia Bharat, CSB Bank, and USL will announce the results for the June quarter (Q1FY24) today. 

Infosys 

Tech giant Infosys Limited will declare its first-quarter results on Thursday.

The company is expected to follow other IT companies and post soft numbers for the first quarter of the current financial year.

After blockbuster results during the coronavirus pandemic, the IT sector has been struggling for over a year due to tough macroeconomic conditions like the fear of a recession lingering over the US economy.

Irrespective of that, Infosys share was one of the biggest gainers (up by nearly four per cent) on Tuesday after it inked a five-year, $2 billion deal with an existing client.

The company's share, however, ended flat on Wednesday at Rs 1,474.35. The share has gained 9.48 per cent in the last five days and will be the one to watch out for on Thursday.

Hindustan Unilever

As per Zee Business Research estimates, Hindustan Unilever Limited's net profit is set to rise 9 per cent to Rs 2,601 crore as the company declares its first-quarter results on Thursday.

The analysts also estimated the company's revenue to grow 5.6 per cent to Rs 15,448 crore on a year-on-year (YoY) basis.

After the results are declared on Thursday, investors will closely track management commentary on demand prospects in the rural and urban markets, the company's volume growth outlook, and margin. 

The fast-mover consumer goods company's share price fell 0.43 per cent to Rs 2,671.75 on the BSE at market close on Wednesday.

Investors will eagerly await the company's Q1 results on Thursday, and its stock will also be the one to follow.

RIL

July 20 and 21 are important dates for Reliance Industries for different reasons.

July 20 is the record date for the demerger of Jio Financial Services, while on July 21 (Friday), the company will announce its first-quarter results.

There was a lot of interest in the share of RIL today as it hit an all-time high of Rs 2,855 after a rise of 0.62 per cent.

The share can make more gains as the market opens on Thursday. 

Tata Communications

Tata Communications also declared its first-quarter results on Wednesday, reporting a fall of 29.8 per cent in its consolidated profit to Rs 381.75 crore from Rs 544.82 in the year-ago period.

The company's total income, however, jumped to Rs 4960 crore YoY from Rs 4,544.51 crore in the corresponding quarter last year.

The company said in its BSE filing that it would raise funds through the issuance of Non-Convertible Debentures on a private placement basis for an amount up to Rs 1,800 crore.

Buyers showed buying interest in the scrip as the share price jumped 1.21 per cent to Rs 1,619.50 on Wednesday. The share will surely be on investors' radar on Thursday.    

Havells 

Fast-moving electrical goods company Havells India Ltd. is all set to report its Q1 results on Thursday.

As per Zee Business Research estimates, Havells' standalone net profit for the first quarter of the financial year is expected to soar 44.2 per cent to Rs 349 crore.

The analysts estimate that the company's revenue will also jump 8.7 per cent to Rs 4,600 crore YoY.  

A day ahead of the announcement of the results, the company's share was upbeat on Wednesday as it grew 0.33 per cent to Rs 658.85 at the close.

Upbeat results on Thursday can make the stock trade higher.

Tata Motors  

Tata Group announced on Wednesday that it would invest GBP 4 billion to set up a battery gigafactory in the UK.

The 40GW battery cell gigafactory will be part of the group's commitment to electric mobility and renewable energy storage solutions, as per an official statement.

The company's share flew high after the announcement and hit the day's high of Rs 625.15 before closing the day at Rs 620.45 at the BSE.

Persistent Systems Limited

The Pune-headquartered IT company will announce its Q1 results on Thursday.

As per Zee Business Research, in its first quarter, Persistent is expected to report revenue of Rs 2,330 crore, a 3.3 per cent increase as compared to Rs 2,255 crore in the last quarter of FY23.

Though the company has yet to announce its results, its shares have been performing well for last five days. The share price on Wednesday jumped 3.09 per cent to Rs 5,129.05 at close.

In the last five days, the share price has soared 8.57 per cent.

The share will be the one to keep an eye on as the market opens on Thursday.

Dr Reddy's Laboratories

The United States Food & Drug Administration (USFDA) completed a Pre-Approval Inspection (PAI) and a routine GMP inspection at our API manufacturing facility in Srikakulam, Andhra Pradesh, India (CTO-6) with zero observations, the pharmaceutical company informed through a regulatory filing. 

Olectra Greentech 

The company has awarded a contract for the construction of the greenfield electric vehicle manufacturing facility on 150 Acres of land situated at Seetharampur, Hyderabad, Telangana to Megha Engineering & Infrastructures Limited ("MEIL"). As per the terms and conditions of the Tender, construction of the "Greenfield EV Manufacturing Facility'' shall be completed within 12 months from the date of approval and the proposed value of the contract is approximately Rs 395.12 crore.

Federal Bank

The private sector lender said that its board of directors has established a base price of Rs 132.59 per share for its upcoming QIP. The bank has the discretion to apply a discount of up to 5 per cent on the issue's floor price. The bank's net profit increased by 42 per cent to 1,147 crore in the June quarter.

Krsnaa Diagnostics

Due to disagreements over providing additional performance security due to certain technicalities., the company cancelled the acceptance letter issued by the National Health Mission, Rajasthan. This service was intended as part of a free diagnostics initiative, employing a hub and spoke model.

Transformers and Rectifiers

The Company has received a “Stop Deal” notice from Gujarat Energy Transmission Corporation Limited (GETCO) intimating that GETCO has decided to stop dealing with the Company for a period of 3 years on the ground that the Company had allegedly submitted forged Material Dispatch Clearance Certificate(MDCC) relating to certain Transformers supplied by the Company under the Contract awarded to the Company for supply of total 29 Transformers and 1 Reactor to GETCO.

L&T Finance Holdings 

L&T Finance on Wednesday said its net income more than doubled to Rs 531 crore in the April-June quarter, driven by robust loan sales along with higher margins. The company had reported a net profit of Rs 262 crore in the year-ago quarter.

Finolex Industries

Pipes maker Finolex Industries on Wednesday reported over 10 per cent growth in net profit at Rs 110.88 crore in the June quarter, even though the income declined a notch to Rs 1,179.2 crore from Rs 1,189.8 crore.

Tata Coffee

Tata Coffee on Wednesday reported a 5 per cent fall in consolidated net profit at Rs 62.06 crore for the quarter that ended June. Its net profit stood at Rs 65.49 crore in the year-ago period. Total income, however, rose to Rs 707.93 crore in the first quarter of this fiscal from Rs 666.05 crore in the corresponding period of the previous year, Tata Coffee said in a regulatory filing.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.