RIL, Paytm, Infosys, HUL, Hindustan Zinc, Tata Motors, and Other Stocks to Watch

Indicating that Dalal Street will have a good start on Friday, Nifty futures traded 18 points, or 0.09 percent, higher at 19,876.50. These stocks will be the subject of today’s attention for a variety of reasons.

Results will be released today for the first quarter of fiscal year 2023–24 (Q1FY24), including those from Reliance Industries, Ultratech Cement, JSW Steel, HDFC Life, Hindustan Zinc, DLF, Vedanta, One97 Communications, Ashok Leyland, and Federal Bank, among others.

Tata Motors: JLR, a Tata Motors subsidiary, announced Adrian Mardell’s appointment as CEO for a three-year tenure.

Hindustan Unilever: The FMCG major increased its consolidated net profit in Q1FY24 by 7.3% year over year (YoY), in line with market expectations. Additionally, revenue increased by 6% YoY at Rs 15,496 crore.

Infosys: Due to a delay in contract ramp-ups, the IT giant’s revenues increased sequentially by 1.3% in the June quarter. In the meanwhile, net profit fell 3% quarter-over-quarter (QoQ) to Rs 5,945 crore in Q1FY24. The business again reduced its forecast for constant currency sales growth in FY24 to between one and three percent.

The board of Larsen & Toubro will discuss a repurchase of equity shares and a special dividend for the next fiscal year (FY24) when it meets next week on July 25. Additionally, the board will meet to ratify the June quarter’s financial performance.

Union Bank of India: Due to increases in net interest income (NII), non-interest revenue, and a decrease in provisions for bad loans, the public sector lender’s net profit increased by more than twofold year over year to Rs 3,236 crore in Q1FY24. In contrast, NII increased 16.6% to Rs 8,840 crore in Q1FY24.

Coforge: In the first quarter of FY24, the mid-cap IT services provider’s net profit increased by 10% to Rs 165 crore. While this was going on, the company’s sales in constant currency terms climbed 18% to Rs 2,221 crore in the June quarter.

Dalmia Bharat: Due to rising costs, the firm recorded a 29.6% fall in profit after tax (PAT) for Q1FY24. For the reviewed quarter, operating revenue increased 9.8% to Rs 3624 crore.

PVR-Inox: The movie theater operator said that they want to increase their big format selection this year by adding two additional superplexes. In mega malls with huge floor spaces, superplexes or theaters with ten or more screens provide a variety of formats and experiences under one roof.

United Spirits: The business recorded a combined net profit of Rs. 477 crore, an increase of 83% YoY. However, total revenue fell 23% YoY to Rs 5,830 crore in the June quarter.

South Indian Bank: The Thrissur-based bank reported a Q1FY24 net profit increase of 75% YoY to Rs 202.35 crore. In contrast, NII increased 34% YoY to Rs 808 crore in the June quarter. Additionally, the gross non-performing asset decreased from 5.87 to 5.13 percent year over year.

IndiaMart: The business claimed that its consolidated net profit increased by 78% year over year to Rs 83 crore in Q1FY24. During the same time frame, operational revenue increased by 26% to Rs 282 crore.