GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap down opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 19.50 points or 0.08% at 24,911 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 closed the session 21 points or 0.09% higher to settle at 24,857, while the BSE Sensex rose 100 points or 0.12% to close at 81,455.
Stocks to watch on July 31, 2024
Tata Consumer Products
Tata Consumer Products reported a consolidated net profit of Rs 290 crore (attributable to owners) for the June quarter, a drop of 8.3% on year, missing Street estimates amid muted demand led by heatwaves and elections. Bloomberg consensus estimates had pegged the net profit for the quarter at Rs 351 crore.
Stocks To Watch: Tata Steel, Bharti Airtel, HPCL, ACC, RVNL Stocks To Watch: Infosys, Coal India, Bank of Baroda, Maruti Suzuki, Tata Steel Stocks To Watch: UltraTech Cement, Paytm, Power Grid, Cipla, ICICI Bank Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro
Varun Beverages
PepsiCo bottler Varun Beverages posted a 26% on-year rise in its consolidated net profit at Rs 1,253 crore in the June quarter. Bloomberg consensus estimates had pegged it at Rs 1,276 crore. The company follows a January-December accounting year. The consolidated revenue for the second quarter came in at Rs 7,334 crore, up 28.7% on year, led by India volumes which grew nearly 23% versus last year, thanks to an extended heat wave across the country.
JSW Infrastructure
JSW Group looks to transform its infrastructure arm, JSW Infrastructure, into a complete logistics solutions provider, chairman Sajjan Jindal said at the company’s 18th annual general meeting on Tuesday. “India’s economy is getting bigger and stronger and it is on track to hit $10 trillion. With its diverse countryside and hinterland, India’s logistics industry needs more large-sized private sector companies to provide last-mile connectivity solutions for its stakeholders,” Jindal said.
Indian Oil Corporation
Indian Oil Corporation reported a fall of 74.7% in its consolidated net profit for the first quarter of the financial year 2024-25 at Rs 3,722.63 crore from Rs 14,735.30 crore in the corresponding period a year ago. On a sequential basis too, the net profit declined by 32% from Rs 5,487.92 crore in Q4FY24. The significant decline in the net profit comes amid a decline in the company’s gross refining margins.
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Vodafone Idea
Vodafone Idea has received an order from the Commercial Tax Office in Chennai South, Tamil Nadu confirming the penalty of Rs 27.3 crore along with the demand and interest as applicable. The order was passed under Section 74 of the Integrated Goods and Services Tax Act, 2017. The penalty is for re-availment of credit reversed earlier in FY20.
Ajanta Pharma
Speciality pharmaceutical company Ajanta Pharma posted a profit growth of 18.1% for the first quarter of FY25 at Rs 245.77 crore in comparison to Rs 208.12 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1144.92 crore, up 12.1% as against Rs 1021.04 crore during the same period last year.
GAIL
The gas giant recorded a consolidated net profit of Rs 3,183.35 crore, a growth of 77.54% compared to the Rs 1,792.99 crore it reported in the same quarter of the previous year. The company’s revenue grew to Rs 34,821.89 crore against Rs 32,848.78 crore in Q1 2023-24, an increase of 6% on year.
Bharti Airtel
Bharti Airtel chairman Sunil Bharti Mittal’s remuneration rose 92% to Rs 32.27 crore in FY24, while managing director and CEO, Gopal Vittal’s salary rose 10% to Rs 18.5 crore, according to the annual report of the company. Mittal was drawing close to Rs 15 crore for the last three years since FY21 owing to weakness in the business environment. On August 24, 2023, with shareholders approval, his remuneration was restored to Rs 30 crore.
Torrent Power
Torrent Power reported a rise of 88% on year to Rs 972 crore in the first quarter of the financial year 2024-25, helped by surging power demand. The company, a unit of Torrent Group, said a year ago in the same quarter that its consolidated net profit stood at Rs 517 crore. The energy provider’s revenue rose 23.3% to Rs 9,034 crore.
Key earnings to watch
Maruti Suzuki, Ambuja Cement, Coal India, Mahindra and Mahindra, Tata Steel, Action Construction Equipment, Asahi India Glass, Aster DM Healthcare, Bank of Baroda, BHEL, Birlasoft, Crompton Greaves Consumer Electricals, Electrosteel Castings, Elgi Equipment’s, Five-star Business Finance, GE T&D India, Godrej Properties, Greenply Industries, HeidelbergCement, JBM Auto, JK Lakshmi Cement, KPR Mills, Lakshmi Machine Works, Mankind Pharma, Maruti Suzuki India, Nuvoco Vistas Corp, The Phoenix Mills, Prestige Estates Projects, Pricol, Puravankara, Redington, Relaxo Footwears, RITES, Sonata Software, Stylam Industries, Sundaram Fasteners, Tata Investment Corp, Tata Steel, Teamlease Services, Thomas Cook, Urgo Capital, and ZEE Entertainment will release their Q1 earnings on July 31.
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Read moreHow do you find out what’s actually inside your all-in-one liquid cooler? What’s clear from an investigation by Igor’s Lab is that the manufacturer’s specs sheet won’t always provide an accurate answer to that question. Wallossek found two out of the six coolers ripped apart and prodded for testing did not contain the copper parts the manufacturer advertised and were usually replaced by copper/zinc alloy, or brass by another name.
Igor’s Lab ripped apart six 120mm liquid coolers for testing:
- Alphacool NexXxoS ST30 Full Copper X-Flow
- Aqua Computer Airplex Radical 2/120
- Bykski CR-RD120RC-TN-V2 Full Copper
- EKWB Quantum Surface P120M
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Read moreSo far, Manor Lords has made a name for itself thanks to its quirky medieval setting and brilliant city-building and management features. While small pitched battles are possible, the fighting is far from the star of the show.
This fact was made abundantly clear even before Manor Lords entered early access. The developer Greg “Slavic Magic” Styczeń wrote a lengthy post on the game’s Steam page explaining what Manor Lords really is. “Manor Lords is not a Total War competitor,” Styczeń says in the blog post. “It’s a city builder with battles. Yes, battles are there, but not as huge or as frequent as some of you might expect. The majority of gameplay is focused on city building and management.”
You can even opt out of fighting altogether, as there are thre…
Read moreWhen Hidetaka Miyazaki flew to Los Angeles for this year’s Summer Game Fest, his very presence became a news story. Some speculated that Miyazaki was there to reveal a new game (though he was really just there to promote Shadow of the Erdtree), but it was also a story simply because it mattered to people. A selfie taken in the hotel got more than a million views on Twitter. Even though his games have been popular for more than a decade at this point, that sort of fame is new for the Dark Souls creator.
Before he got people excited by flying to Los Angeles for the weekend, I spoke with Miyazaki for PC Gamer’s cover story on Shadow of the Erdtree, digging into the significance of this expansion for both FromSoftware and him as a person. How had Elden Ring’s success—25 million …
Read moreCreature collecting and survival crafting game Palworld took the internet, and my own nightly gaming time, totally hostage at the beginning of this year. People like the Pals, and not least because it was a Pokémon-inspired open world game. Now officially on the list of other Pokémon-derived features is a Pal Arena that Pocketpair revealed exactly 10 seconds of footage for during today’s Triple I Initiative showcase.
This was already a known feature, appearing on the Palworld early access roadmap as “Pal Arena (PvP for Pals).” It’s no surprise that folks are hollering for a head to head mode in a creature collecting game and the comparisons to Pokémon Colosseum will abound, I’m sure.
In those scant seconds of footage you can see two players facing…
Read moreNo Man’s Sky is getting a new update, a mere month and a bit after it got its last one. The 4.2 Interceptor patch, which releases today, brings new enemies, new resources, and a new starship class, which Hello Games says is No Man’s Sky’s “most varied starship to date”. It also makes a few performance and visual tweaks, especially for users in VR.
The update introduces new “corrupted planets,” which have fallen prey to “a darkness” that is spreading through the Sentinel horde. “Many fortified worlds have succumbed to corruption, with strange crystals sprouting from the earth and their robot guardians twisted into bizarre new forms,” reads the Interceptor update’s announcement, inviting you to “explore these purple-hazed worlds to find new buildings, crashed interceptors, secret eq…
Read moreThings are looking good for Remnant 2, with Gunfire Games’ co-op soulslike shooter sequel already doubling the peak concurrent user record of the first game. With a SteamDB peak concurrent count of 109,053 players, more than twice the 48,289 players that Remnant: From the Ashes had online at one time back on its August 2019 release.
As spotted by Eurogamer, that means Remnant 2’s launch weekend has peaked higher than recent big-budget AAA titles like Resident Evil Village and Battlefield 2042.
It’s a ringing endorsement for Remnant, a game that takes the soulslike genre and blends it with a third person shooting and looting formula not entirely unlike Destiny, but sets it in a world and gives it a rhythm entirely unlike Destiny. Some players have encountered bugs ra…
Read moreActivision has removed the Nickmercs skin from Modern Warfare 2 and Warzone, following an anti-LGBTQ+ comment the streamer made earlier this week.
On June 7, retired Halo pro and MLG executive Chris Puckett tweeted a video of an attack on pro-LGBTQ+ demonstrators outside of a school board meeting in Glendale, CA.
“This happened 4 blocks from my Overwatch League apartment,” Puckett tweeted. “Americans are in a sad place right now. Let people love who they love and live your own life.”
In response, Nickmercs tweeted, “They should leave little children alone. That’s the real issue.”
As noted by Dexerto, the tweet sparked an immediate backlash. “Who is this they and what terrible act is everyone afraid of?” Puckett replied. “I think/hope the goal of most …
Read moreWhat we have here are two graphics cards that were meant to retail for $899 when they launched. And, honestly, that was a laughable price for both GPUs. The Radeon RX 7900 XT is the second-tier RDNA 3 card, coming in just $100 below the top card in the chiplet GPU stack, the Radeon RX 7900 XTX, but with a 10% dip in gaming performance.
If you were spending that much cash, you’d always kick yourself for not spending that little bit more on the clearly superior card. Thankfully that performance delta has only grown, and now you can pick up the RX 7900 XT for $699.99 at Newegg that makes it a far more tempting proposition.
The cheapest RX 7900 XTX I can find is $920, which means you’re spending 24% less cash on an RX 7900 XT for 90% of the gaming performance of the top card. Th…
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