Stocks to watch, HUL, Birla Estates, Lupin, DEN Networks, Jio Financial Services, SpiceJet, Vedanta, Unichem Lab and more, these are the stocks to watch for today.
HUL | FMCG major said its board approved the sale and divestment of the company’s water purification business to A. O. Smith for ₹601 crore. The water purification business, which forms part of HUL’s Home Care segment, generated a turnover of ₹293 crore in FY2023-24, accounting for less than 1% of HUL’s total turnover.
Birla Estates | Realty firm announced the acquisition of a prime five-acre land parcel in Sector 71, Gurugram. The newly-acquired land offers a development potential of approximately one million square feet and is projected to generate revenue exceeding ₹1,400 crore.
Lupin | Drug firm said it has divested its US commercial women’s health speciality business to Evofem Biosciences, Inc, a US biopharmaceutical company focused exclusively on women’s health. Lupin’s US commercial women’s health speciality business is primarily focused on commercialising SOLOSEC (secnidazole) 2g oral granules.
DEN Networks | Cable TV services provider reported a 6.8% year-on-year increase in net profit at ₹45.5 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, it posted a net profit of ₹42.6 crore. The company’s revenue from operations dipped 9.4% to ₹247.5 crore against ₹273.2 crore in the corresponding period of the preceding fiscal.
Jio Financial Services | The company reported a 6% year-on-year decline in net profit at ₹312.63 crore for the first quarter that ended June 30, 2024. Sequentially, the profit increased 0.6% from ₹310.6 crore in the June quarter. The company’s revenue increased 0.9% to ₹417.8 crore compared to ₹414 crore in the corresponding period of the preceding fiscal.
SpiceJet | The airline reported a six-fold jump in net profit of ₹119 crore for the January-March quarter of the financial year 2024. The aviation firm reported a net profit of ₹17 crore in the same period last year. On an EBITDA basis, the profit for Q4 was ₹386 crore, up from ₹344 crore in Q4FY23.
Vedanta | Mining conglomerate said the committee of directors of the company has approved the launch of a qualified institutional placement, setting the floor price at ₹461.26 per equity share. Vedanta has launched its QIP with an indicative price range of ₹440-445 per share, representing a discount of 3-5% to the current market price.
Unichem Lab | Drug firm said the United States Food and Drug Administration conducted an inspection at its Goa formulation facility from July 8, 2024, to July 15, 2024. The inspection concluded with five observations, primarily procedural in nature, and none related to data integrity.
First Published: Jul 15, 2024 6:57 PM IST
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
