Stocks to Watch on July 16: Vedanta, HUL, Lupin, SpiceJet, Jio Financial Services
The domestic markets continued their upward ascent, clocking new records. This is as the list of key stocks to watch out for in today's trade includes Bajaj Auto, SpiceJet, Jio Financial Services, Hindustan Unilever (HUL), Vedanta, and Zee Entertainment. These counters are interestingly placed as there could be major news development with regard to results coming in along with the first-quarter.
SpiceJet: It has undergone scrutiny of its financial performance, whereby the net consolidated loss it surrendered for the third quarter of financial year 2024 amounted to Rs 297.2 crore, in contrast to a net profit of Rs 112.1 crore registered in the same period last year. However, it reported a net profit of Rs 127.4 crore during the fourth quarter of the fiscal year 2024, as compared to a net loss of Rs 124 crore in the corresponding period of last fiscal year.
Jio Financial Services: Its net profit for the first quarter of FY25 grew by 0.64% to Rs 312.6 crore from Rs 310.6 crore. Meanwhile, the revenue had a slight dip of 0.07%, with figures at Rs 417.8 crore from Rs 418.1 crore.
Den Networks: The company reported a 6.8 per cent year-on-year increase in net profit at Rs 45.5 crore against Rs 42.6 crore in the first quarter of FY25. The revenue fell 9.4 per cent to Rs 247.5 crore as compared to Rs 273.2 crore.
Lupin: Lupin has divested its US Commercial Women's Health Specialty business to Evofem Biosciences Inc for up to $84 million in lieu of the commercialization rights of SOLOSEC (secnidazole) 2g oral granules.
Hindustan Unilever (HUL): The company will sell its water purification business, Pureit, on the basis of slump sale, to A O Smith India Water Products, for $72 million.
Vedanta: To mobilize a humongous capital, Vedanta has opened its QIP issue on 15 July with the set floor price for the sale at Rs 461.26 per share.
Century Textiles: Century Textiles & Industries Ltd has purchased, through its wholly owned subsidiary, Birla Estates, a 5-acre land parcel in the heart of Gurugram at a potential development with the promise of raising revenue to more than Rs 1,400 crore.
JNK India: The company has received an order valued at up to Rs 50 crore from JNK Global, Korea, for a regeneration furnace for a refinery contract in Oklahoma, USA.
Angel One: It clocked a net profit of Rs 292.7 crore for Q1 FY25 as against Rs 220.8 crore, reflecting a 32.6 percent increase. On the other hand, revenues saw a jump of 74 percent to Rs 1,405.5 crore from Rs 807.5 crore.
Zee Entertainment: The shareholders gave their go-ahead to the proposal of raising up to Rs 2,000 crore through a share sale. The move shall provide the company with the required additional capital for its expansion and operation needs.
Balkrishna Industries: The company has completed molding manufacturing plant setup at its Bhuj unit with a capital expenditure of Rs 300 crore to enhance its production capabilities.
Aster DM Healthcare: The company has received an anonymous complaint alleging unethical practices and professional misconduct by senior employees at its hospitals in Kannur and Calicut, Kerala.
Here are the top business news headlines:
Macrotech Developers: The developer responded to media articles regarding a deal with Valor Estate for a Mumbai housing project by saying that it is constantly seeking land acquisitions through several avenues, including joint development agreements.
PC Jewellers: IndusInd Bank agreed to a one-time settlement offer from PC Jewellers in relation to unpaid dues linked to cash, equity, and the release of securities and mortgaged properties.
These are going to be developments that shall be driving market activity and also investor focus in today's trading session.
