Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, order wins, acquisitions and appointments, here’s a quick look at which stocks will be in focus in today's trade:
Bajaj Finance, Nestle India, SBI Life Insurance Company, Canara Bank, ACC, Aditya Birla Sun Life AMC, Adani Energy Solutions, APL Apollo Tubes, CG Power and Industrial Solutions, Coromandel International, Cyient, Hexaware Technologies, Indian Energy Exchange, Indian Bank, Motilal Oswal Financial Services, Mphasis, REC, Tanla Platforms, Trident, Ujjivan Small Finance Bank, and UTI Asset Management Company will announce their quarterly earnings on July 24.
Infosys Q1 (Consolidated YoY)
Profit grows 8.7% to Rs 6,921 crore Vs Rs 6,368 crore
Revenue soars 7.5% to Rs 42,279 crore Vs Rs 39,315 crore
EBIT increases 6.2% to Rs 8,803 crore Vs Rs 8,288 crore
EBIT margin drops 30 bps to 20.8% Vs 21.1%
Dollar revenue jumps 4.8% to $4,941 million Vs $4,714 million
Constant currency revenue growth at 3.8%
Company raises constant currency revenue growth guidance to 1-3% from 0-3%
Dr Reddy’s Laboratories Q1 (Consolidated YoY)
Profit increases 1.9% to Rs 1,417.8 crore Vs Rs 1,392 crore
Revenue soars 11.4% to Rs 8,545.2 crore Vs Rs 7,672.7 crore
North American sales drops 11% to Rs 3,412.3 crore Vs Rs 3,846.2 crore
Tata Consumer Products Q1 (Consolidated YoY)
Profit surges 15% to Rs 334.2 crore Vs Rs 290.3 crore
Revenue grows 9.8% to Rs 4,778.9 crore Vs Rs 4,352 crore
Bajaj Housing Finance Q1 (YoY)
Profit grows 20.7% to Rs 583 crore Vs Rs 483 crore
Net interest income jumps 33.4% to Rs 887 crore Vs Rs 665 crore
Gross NPA rises to 0.3% Vs 0.29% (QoQ)
Net NPA increases to 0.13% Vs 0.11% (QoQ)
CMS Info Systems Q1 (Consolidated YoY)
Profit grows 3% to Rs 93.6 crore Vs Rs 90.8 crore
Revenue soars 4.7% to Rs 627.4 crore Vs Rs 599.4 crore
Persistent Systems Q1 (Consolidated YoY)
Profit surges 38.7% to Rs 424.9 crore Vs Rs 306.4 crore
Revenue jumps 21.8% to Rs 3,333.6 crore Vs Rs 2,737.2 crore
Dollar revenue zooms 18.7% to $389.7 million Vs $328.2 million
Cigniti Technologies Q1 (Consolidated YoY)
Profit spikes 527.6% to Rs 65.9 crore Vs Rs 10.5 crore
Revenue grows 14% to Rs 534.2 crore Vs Rs 468.5 crore
Exceptional item at Nil Vs exceptional loss of Rs 30.1 crore
Oracle Financial Services Software Q1 (Consolidated YoY)
Profit increases 4.1% to Rs 641.9 crore Vs Rs 616.7 crore
Revenue rises 6.4% to Rs 1,852.2 crore Vs Rs 1,741.4 crore
Filatex India Q1 (Consolidated YoY)
Profit soars 26% to Rs 40.7 crore Vs Rs 32.3 crore
Revenue falls 0.5% to Rs 1,049.4 crore Vs Rs 1,054.3 crore
Other income surges to Rs 10.8 crore Vs Rs 4.31 crore
Force Motors Q1 (Consolidated YoY)
Profit zooms 52.4% to Rs 176.4 crore Vs Rs 115.7 crore
Revenue jumps 21.9% to Rs 2,297.3 crore Vs Rs 1,884.9 crore
Supreme Petrochem Q1 (Standalone YoY)
Profit sinks 33.6% to Rs 80.9 crore Vs Rs 121.9 crore
Revenue declines 11.9% to Rs 1,386.5 crore Vs Rs 1,573.5 crore
Bikaji Foods International Q1 (Consolidated YoY)
Profit rises 2.8% to Rs 59.9 crore Vs Rs 58.3 crore
Revenue grows 14.2% to Rs 652.7 crore Vs Rs 571.6 crore
Stocks to Watch
The company has entered into a definitive agreement to acquire the Imperial Blue business division from Pernod Ricard India via a slump sale for Rs 4,150 crore.
The Board has approved the acquisition of a 35.75% stake in Adcock Ingram Holdings, South Africa, with a total investment cost of Rs 2,000 crore. Further, the company will incorporate its wholly-owned subsidiary in South Africa, with an investment of up to Rs 2,100 crore, under the name Natco Pharma South Africa Proprietary Limited.
Welspun Corp has further sold a 9.9% equity stake in Nauyaan Shipyard to Nauyaan Tradings (a wholly-owned subsidiary of Reliance Strategic Business Ventures) for Rs 54.70 crore. The company will now hold the remaining 6.1% equity stake in Nauyaan Shipyard, while Nauyaan Tradings’ holding in Nauyaan Shipyard has increased to 93.9% from 84% earlier.
The Board has approved raising funds of up to Rs 20,000 crore through debt securities on a private placement basis and augmenting capital through a further issue or placement of securities amounting to Rs 10,000 crore. With approval from the Reserve Bank of India, the bank’s promoters will collectively have the right to nominate up to two directors to the Board. Meanwhile, Jayant Deshmukh ceased to be a Non-Executive Independent Director of the bank, effective July 23.
The Board has approved the issuance of 10.41 crore equity shares worth Rs 1,249.33 crore on a rights basis. The rights issue price has been fixed at Rs 120 per share, and the record date has been set as July 29 for determining the shareholders eligible to apply for equity shares in the rights issue.
The company has received an order from the Ministry of Defence for the supply of HMV 6x6 vehicles, with a contract value of Rs 293.82 crore.
The Government of India has appointed Arun Agarwal as a Government Nominee Director on the Board of ITI.
Amit Kalyani has resigned as an Independent Director of Schaeffler India, effective July 23, to fulfill other professional commitments.
The company is planning to implement a new project at its Sandila plant with a capacity of 4,000 MT for 26 DEA, a key starting material for herbicides such as Pretilachlor and Butachlor. The project is expected to be completed by September 2026, with an estimated investment of around Rs 65 crore, to be sourced from internal accruals. Meanwhile, the Board has appointed Udaya Bhaskar Mantripragada as Whole-Time Director of the company, effective July 23, following the resignation of Rajendra Singh Sharma from the same position.
Shareholders have approved the re-appointment of Deepak Satyaprakash Goyal as Executive Director of the company.
Bulk Deals
Invesco Developing Markets Fund sold a 0.95% stake at Rs 1,384.93 per share, valued at Rs 1,319.2 crore.
Invesco Developing Markets Fund sold a 2.95% stake at Rs 1,754.26 per share, amounting to Rs 1,883.2 crore. However, SBI Mutual Fund bought a 1.1% stake at Rs 1,754.10 per share, valued at Rs 718.2 crore.
Plutus Wealth Management LLP bought an additional 1.73% stake at Rs 38.12 per share, valued at Rs 93.39 crore. However, Discovery Global Opportunity Mauritius exited by selling its entire 2.2% stake at Rs 38.14 per share, amounting to Rs 118.8 crore.
Stocks Trade Ex-Dividend
Hero MotoCorp
Cholamandalam Investment and Finance Company
Crompton Greaves Consumer Electricals
Radico Khaitan
Sanco Trans
TCPL Packaging
UTI Asset Management Company
20 Microns
Birlanu
Bliss GVS Pharma
Fiem Industries
Hatsun Agro Product
IVP
Paushak
Privi Speciality Chemicals
Stocks Trade Ex-Date for Income Distribution (InvIT)
IRB InvIT Fund
Property Share Investment Trust - Propshare Platina
Stock Trades Ex-Date For Rights
Spandana Sphoorty Financial
Stocks in F&O ban
Bandhan Bank
Indian Energy Exchange
RBL Bank
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