Stocks to watch out for on July 17
Stocks to watch: Stocks from companies such as HDFC Bank, Tata Steel, DMart, SBI, Bandhan Bank, ONGC and others will take center stage in Monday’s trading.
Stocks to watch on July 17: Handy futures were up 7.5 points, or 0.04 percent, at 19,626.50, indicating that Dalal Street was off to a flat start on Monday. Here’s a slew of stocks that will be in the spotlight today for a variety of reasons.
Results today: HDFC Bank, LTIMindtree, Tata Elxsi, Crisil, Central Bank of India, Choice International, Hathway Cable, among others, will report April-June quarterly results of Fiscal Year 2023-24 (Q1FY24).
Tata steel: Management said the company plans to explore opportunities in the battery minerals-related segment, including lithium through their Natural Resources division. This division is one of 14 companies listed as notified private exploration firms by the Department of Mines.
angel one: The National Stock Exchange (NSE) fined Rs 1.67 crore and stopped the brokerage from onboarding new Authorized Persons (APs) for six months over alleged breaches of capital market regulations.
Avenue supermarkets: Retail chain operator D-Mart reported a 2.46 percent increase in its consolidated net profit to Rs 658.71 crore in Q1FY24 as lower sales of apparel and general merchandise impacted margins. Meanwhile, revenue from operations amounted to Rs 11,865.44 crore in Q1FY24, up 18.20 percent year-on-year.
National Bank of India: India’s largest lender increased its marginal cost of fund-based lending rate (MCLR) by 5 basis points (bps) across all maturities, a move that will lead to an increase in EMIs for borrowers.
JSW energy: The company’s consolidated net profit fell 48 percent year-on-year to Rs 289.88 crore in Q1FY24, due to weakness in the hydro, short-term sales and coal segments, along with costs related to debt refinancing.
Bandhan Bank: The private sector lender recorded an 18.7 percent year-on-year decline in net profit to Rs 721 crore in Q1FY24 on the back of a drop in net interest income (NII). NII also fell to Rs 2,491 crore in the recently ended quarter.
she-wolf: The pharmaceutical company got a nod from the US health regulator to market chlorpromazine hydrochloride tablets, a drug used to treat various conditions such as schizophrenia.
ONGC: The company is getting a new director to lead its new energy, petrochemical and business strategy, as part of a board renewal aimed at reviving the state-controlled behemoth.
J&K Bank: The lender has received approval from the board of directors to raise up to Rs 750 crore in equity in one or more tranches in FY24, and raise up to Rs 1,000 crore through private placement non-convertible bonds.
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