PVR Inox, Maruti, ITC, SBI, Power Grid, Lupin, and Other Stocks to Watch

Nifty futures rose 4.5 points, or 0.02 percent, to 19,890.50, indicating that Dalal Street will open Tuesday with little activity. These stocks will be the subject of today’s attention for a variety of reasons.

Results for the first quarter of fiscal year 2014 were released today and include Anant Raj, Anupam Rasayan India, Aptus Value Housing Finance India, Adani Total Gas, Bikaji Foods International, Cholamandalam Investment and Finance, Dalmia Bharat Sugar and Industries, Deep Industries, Elantas Beck India, Escorts Kubota, Gujarat Mineral Development Corp, Godrej Agrovet, Harsha Engineers International, Kirloskar Brothers, K.P.

Maruti Suzuki India, the biggest automaker in India, said on Monday that its first-quarter net profit for the fiscal year 2023–2024 (Q1FY24) increased by 145.31% to Rs 2,485 crore. Separately, MSI said that its board had authorized the termination of the contract manufacturing agreement and the exercise of the option to buy Suzuki Motor Gujarat Pvt Ltd (SMG) shares from Suzuki Motor Corporation (SMC).

The Government of India has elevated Cochin Shipyard (CSL) from “Schedule B” to “Schedule A” CPSE. This upgrade to “Schedule A” acknowledges CSL’s excellent financial results and operational effectiveness.

Power Grid Corporation: On Monday, Power Grid revealed that its consolidated net profit for the first quarter of FY24 fell by 5% year over year (YoY) to Rs 3,597 crore. To Rs 11,048 crore, operating revenue increased 1%.

Apart from that, the company’s board has proposed a 1:3 bonus issue and allowed funding up to Rs 12,000 crore via private placement of bonds in the domestic market during FY25 in one or more tranches.

ITC: The unaudited standalone and consolidated financial statements for the June quarter will be discussed and approved by the company’s Board of Directors on August 14, 2023. The Board will also take into account the Plan of Arrangement for the demerger of the Hotel Business.

JBM Auto: The company’s consolidated sales for the June quarter of FY24 were Rs 94.62 crore, up from Rs 86.50 crore a year earlier. Meanwhile, revenue increased by Rs 950 crore YoY from Rs 869.53 crore. Its profit was Rs 30.18 crore as opposed to Rs 25.81 crore year over year. The Board has given the go-ahead to raise up to Rs 500 crore.

Separately, the business said that its subsidiary JBM Electric Vehicles Private Limited, which produces electric buses at a new facility in Haryana, has begun operating for profit.

Automobile stocks: Today’s market attention will be on shares of automakers as they release their July monthly sales figures.

State Bank of India: State Bank of India (SBI) announced that it has generated Rs 10,000 crore via the issue of its third infrastructure bond at a coupon rate of 7.54 percent. According to a statement from SBI, the revenues from the bonds will be used to improve long-term resources for financing infrastructure and the affordable housing sector.

Oberoi Realty: Due to fewer sales and greater expenditures, Oberoi Realty reported a 20.2 percent decline in quarterly consolidated profit, at Rs 322 crore, on Monday. Revenue from operations at Oberoi decreased significantly year over year to Rs 910 crore due to a 37.5% decrease in booking value. Meanwhile, a rise in operational costs caused a roughly 10% increase in overall spending.

Gas supplies: On Monday, the federal government increased the price of residential natural gas from $7.48 per million British thermal units (mBtu) in July to $7.85 per mBtu for August. According to a statement from the Petroleum Planning and Analysis Cell, the ceiling price for gas generated from the nominated fields of ONGC and Oil India would be $6.50/mBtu.

Bosch: The carmaker said on Monday that its net profit for the June quarter increased by 22.4% year over year to Rs 408.9 crore. The overall income for the quarter was Rs 4,158.4 crore, an increase of 17.3% year over year.

Additionally, it said that in their commitment to a future without global warming, cleaner fuels, green hydrogen, and electrification take the lead. By the beginning of 2024, Bosch India will debut the BS6 stage 2 hydrogen engine truck.

A 51% share in Guideline Travels Holidays India Private Limited, Dook Travels Private Limited, and Tripshope Travel Technologies Private Limited has been authorized for purchase by the company’s board of directors, according to Easy Trip Planners. The issuing of its stock will be used to pay for the anticipated acquisitions.

The Board has also given its preliminary approval to the issue of equity shares in one or more tranches by preferential allotment or any other method for financing up to Rs 90 crore.

According to sources, Lupin Pharmaceuticals has notified the voluntary recall of two batches of Tydemy (drospirenone, ethinyl estradiol, and calcium tablets, 3mg/0.03mg/0.451mg and levomefolate calcium tablets, 0.451mg) in the US. Tydemy is a medication used to prevent pregnancy.

South Indian Bank: In addition to other means, the institution would use QIP, FPO, and rights issues to fund Rs 1,000 crore. It also consented to borrowing an extra Rs 500 crore.

Yerur Viswanatha Gowd has submitted his resignation as the chief executive officer of the Life Insurance Corporation of India with effect from the end of business hours on July 31, 2023, according to a statement released by the firm.