Stocks to watch out for on July 17
Stocks to watch: Shares of firms like HDFC Bank, Tata Steel, DMart, SBI, Bandhan Bank, ONGC, and others will be in focus on Monday’s trade.
Stocks to Watch on July 17: Nifty futures traded 7.5 points, or 0.04 per cent, higher at 19,626.50, signaling that Dalal Street was headed for a flat start on Monday. Here’s a slew of stocks that will be in focus today for various reasons.
Results today: HDFC Bank, LTIMindtree, Tata Elxsi, Crisil, Central Bank of India, Choice International, Hathway Cable, among others will report the April-June quarter results of fiscal year 2023-24 (Q1FY24).
Tata Steel: The management said that the company plans to explore opportunities in the battery-minerals-related segment, including lithium through their Natural Resources division. This divison is one of the 14 companies listed as notified private exploration agencies by the Ministry of Mines.
Angel One: The National Stock Exchange (NSE) has slapped Rs 1.67 crore monetary penalty and stopped the brokerage from onboarding new authorised persons (APs) for six months over alleged violation of capital market regulations.
Avenue Supermarts: The retail chain operator D-Mart reported a 2.46 per cent rise in its consolidated net profit at Rs 658.71 crore in Q1FY24 as lower sales of apparel and general merchandise impacted margins. Revenue from operations, meanwhile, was at Rs 11,865.44 crore in Q1FY24, up 18.20 per cent year-on-year (YoY).
State Bank of India: India’s largest lender raised its marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) across all tenures, a move that will lead to an increase in EMIs for borrowers.
JSW Energy: The company’s consolidated net profit declined 48 per cent YoY to Rs 289.88 crore in Q1FY24, wing to weakness in its hydro energy, short-term sales, and coal segments, along with charges related to debt-refinancing.
Bandhan Bank: The private sector lender registered 18.7 per cent YoY fall in net profit to Rs 721 crore in Q1FY24 due to drop in net interest income (NII). NII, too, declined to to Rs 2,491 crore in the recently concluded quarter.
Lupin: The drug firm received a nod from the US health regulator to market Chlorpromazine Hydrochloride tablets, a medication used to treat various disorders like schizophrenia.
ONGC: The company will have a new director to spearhead its new energy, petrochemicals and corporate strategy, as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth.
J&K Bank: The lender received board’s approval to raise up to Rs 750 crore of equity capital in one or more tranches in FY24, and raise up to Rs 1,000 crore via non-convertible debentures on a private placement basis.
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