Stocks to Watch Today, Tuesday, August 13, 2024:
As investors gear up for another trading day, the benchmark domestic indices, the BSE Sensex and the NSE Nifty50, are expected to open on a somber note on Tuesday amidst mixed global cues. In Asia, markets showed a mixed trend with Japan’s Nikkei trading higher by 2.33 per cent, the Shanghai Composite up by 0.08 per cent, South Korea’s Kospi rising by 0.11 per cent, Hong Kong’s Hang Seng increasing by 0.21 per cent, and the Asia Dow trading up by 1.42 per cent on Tuesday morning.
At 07:00 AM, GIFT Nifty futures quoted around 24,360 levels, indicating an indecisive start for the NSE Nifty50 index. Overnight in the US, Wall Street’s major indices closed mixed as investors assessed the outlook for the Fed’s monetary policy. The Nasdaq Composite settled higher by 0.21 per cent, while the S&P 500 ended flat. However, the Dow Jones Industrial Average dropped by 0.36 per cent on Monday.
Here is a list of stocks to watch on August 13:
Q1FY25 Results: Several companies are set to announce their first-quarter results on Tuesday, including Advik Laboratories, Apollo Hospitals Enterprise, Hero MotoCorp, Hindalco Industries, Manappuram Finance, and Motherson Sumi Wiring India, among others.
MSCI Related Stocks: According to Nuvama Alternative and Quantitative Research, stocks like Rail Vikas Nigam Limited (RVNL), Vodafone Idea, Prestige Estates, and Oil India, among others, may be added to the MSCI Global Standard index during the next month’s rebalancing exercise.
Stock Updates:
1. NMDC: India’s largest state-owned iron ore miner reported a 20 per cent year-on-year increase in profit for the first quarter of FY25, beating street expectations. However, the company’s revenue from operations fell short of expectations during the quarter ended June 30, 2024.
2. IRFC: State-owned non-banking finance company IRFC reported an increase in net profit in Q1FY25, driven by an increase in leasing activity.
3. Hindustan Copper: The state-owned company reported a two-fold rise in consolidated net profit in Q1FY25, with consolidated income also showing a significant increase.
4. Balrampur Chini Mills: The company reported a drop in consolidated net profit in the first quarter of FY25 due to lower sugarcane availability affecting production volumes.
5. ONGC: The Ministry of Petroleum and Natural Gas has allowed the allocation of gas produced from new wells at a premium over the APM price, which will help ONGC augment natural gas production.
6. Wipro: The technology services and consulting company announced an expansion of its partnership with Google Cloud to scale its adoption of Google Cloud AI.
7. Power Grid Corporation of India: The company has been declared the successful bidder under tariff-based competitive bidding to establish an Inter-State transmission system for the “Additional Transmission System for Evacuation of Power from Bhadla-III PS as Part of Rajasthan REZ Phase-III Scheme (20 GW)” on a BOOT basis.
8. JSW Steel: The company has executed transaction agreements to acquire a 66.67 per cent economic interest in M Res NSW.
9. NTPC: The state-owned company has received an order for the payment of tax, interest, and penalty under Goods and Service Tax laws, which it plans to appeal.
IPO Corner: Shares of Brainbees Solutions (FirstCry) and Unicommerce eSolutions are scheduled to make their debut on the bourses with positive indications in the grey market premiums.
As investors navigate through the market uncertainties, keeping an eye on these stocks and developments can provide valuable insights for making informed investment decisions. Stay tuned for more updates throughout the trading day.