Stocks to watch, HUL, Bajaj Finance, Vedanta, Tata Consumer Products, Torrent Pharmaceuticals, ICICI Prudential, United Spirits, Schaeffler India and more, these are the stocks to watch for today.
HUL | The FMCG major reported just a 2.2% rise in consolidated net profit at ₹2,612 crore for April-June FY25 impacted by price reductions. The company had posted a net profit of ₹2,556 crore in the June quarter of FY24. Revenue from sales of products in the quarter was marginally up 1.68% to ₹15,497 crore as against ₹15,240 crore a year ago.
Bajaj Finance | India’s biggest non-bank lender reported a net profit of ₹3,912 crore for the April-June quarter, which was in line with the CNBC-TV18 poll of ₹3,973.7 crore. Net Interest Income, or the core income of the non-bank lender stood at ₹8,365 crore, which was also largely in line with the CNBC-TV18 poll estimate of ₹8,445.1 crore.
Vedanta | The company informed the exchanges that the company’s board will meet on July 26 to consider a second interim dividend. The Anil Agarwal-led mining conglomerate had earlier paid a first interim dividend of ₹11 per share in May this year. The record date for the dividend, if any, has been fixed as August 3, 2024.
Tata Consumer Products | The company announced details of its rights issue through which it intends to raise up to ₹3,000 crore. Tata Consumer plans to issue 3.66 crore rights equity shares for an amount aggregating to ₹2,997.77 crore. The price of each rights share has been fixed at ₹818, which is a discount of 35% to Tata Consumer Products’ closing price on Tuesday.
Torrent Pharmaceuticals | The company reported a 20.1% year-on-year increase in net profit at ₹457 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, it posted a net profit of ₹378 crore. The company’s revenue from operations rose 10.3% to ₹2,859 crore against ₹2,591 crore in the corresponding period of the preceding fiscal.
ICICI Prudential | The company reported a 9% increase in profit after tax (PAT) for the June quarter at ₹224.34 crore. The life insurance major had reported a net profit of ₹206.19 crore in the year-ago period. Its net premium income increased to ₹7,875 crore from ₹7,020 crore a year earlier, it said in a regulatory filing.
United Spirits | Liquor maker reported a 1.7% year-on-year increase in consolidated net profit at ₹485 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, it posted a net profit of ₹477 crore. The company’s consolidated net sales grew 3.5% to ₹2,761 crore against ₹2,667 crore in the corresponding period of the preceding fiscal.
Schaeffler India | Auto parts maker reported a 3.5% year-on-year growth in net profit at ₹245.4 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, it posted a net profit of ₹237.2 crore. The company’s revenue increased 15.2% to ₹2,106.8 crore against ₹1,829.1 crore in the year-ago period.
First Published: Jul 23, 2024 7:23 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.
