Bharat Electronics, Indus Towers, Indian Hotels, and Other Stocks To Watch On July 28

On Thursday, investors reduced their exposure to the leading equities HDFC Bank, Mahindra & Mahindra, Nestle, and Reliance Industries despite a mixed trend in the international markets. The Indian equity benchmark indexes started the day higher but soon began to decline after early trading under intense selling pressure.

The US Federal Reserve raised interest rates by 25 basis points, but this did nothing to improve the mood in the domestic market, which saw a severe decrease driven by the banking and auto sectors.

The Nifty dropped 118.40 points or 0.60 percent to conclude at 19,659.90, while the BSE Sensex dropped 440.38 points or 0.66 percent to close at 66,266.82.

The FOMC’s decision, which enacted a 25 bps raise and stated a data-centric strategy for future rate decisions, “aligned with market expectations.” Due to the slimmer chances of a US recession, optimism reigned everywhere. Despite this, the local market saw significant corrections driven by banks and automobiles, with pharma companies doing well as their earnings season got off to a good start, according to Vinod Nair, Head of Research at Geojit Financial Services.

Best Stocks To Watch On July 28th:

Bharat Electronics

For the first quarter ended 30 June 2023, the Navratna defense PSU reported a 23% year over year (YoY) increase in net profit at Rs 530.8 crore. The overall revenue for the first quarter was Rs 3,510.8 crore, up 12.8% from Rs 3,112.8 crore in the same period of the previous financial year.

Indus Towers

On the strength of strong operational results, India’s biggest telecom infrastructure business recorded a staggering 182% YoY increase in earnings at Rs 1,348 crore for the quarter ended June 30 fiscal 2024. Comparing the current quarter to the same time last year, operating revenue increased by 3% to Rs 7,027 crore. With the greatest quarterly tower additions in the company’s history, EBITDA on the operations front jumped 51% YoY to Rs 3,514 crore during the quarter. The company’s overall tower base was 1,98,284, up 11,810 years on year and 5,410 quarters on quarter, while sharing income per tower per month fell by 3.2% years on year to Rs 73,286.

Hotels in India

The biggest hospitality firm in India posted a net profit of Rs 222.4 crore for the April–June quarter of fiscal 2024, up 31% from the same time the previous year. To Rs 1,516 crore, operating revenue increased 17% year over year. For the quarter, EBITDA climbed 13% YoY to Rs 459 crore. The entity supported by the Tata Group will purchase all of the stock in Pamodzi Hotels Plc in Zambia from Tata International Singapore Pte Ltd.

Lupin

The US FDA has written to the pharmaceutical company indicating that the issues identified in the warning notice for its facilities in Goa and Pithampur Unit-2, Indore, have now been resolved. This follows a review of the remedial measures the firm took in response to the warning notice. In November 2017, the US FDA sent a warning notice to the business.