Stocks to Watch on July 29: ICICI Bank, BHEL, SBI Card, Paytm, IndiGo, RNFI

On Monday, July 29, 2024, the BSE Sensex and NSE Nifty50 are expected to start the week on a bullish note, influenced by positive global cues. Wall Street's major indices surged on Friday, July 26, 2024, driven by optimistic US inflation data suggesting a possible Federal Reserve rate cut. The Nasdaq Composite rose by 1.03% to 17,357.88, the S&P 500 advanced by 1.11% to 5,459.10 points, and the Dow Jones Industrial Average increased by 1.64% to 40,589.34. In Asia, Japan's Nikkei climbed 2.70%, Hong Kong's Hang Seng edged up 0.10%, South Korea's Kospi grew by 1.54%, the Shanghai Composite increased by 0.14%, and the Asia Dow was up by 1.49% on Monday morning. At 7:10 AM, GIFT Nifty futures were trading over 111 points higher at 25,708 levels.

Here are the key stocks to watch today:

Q1FY25 Results Expected Today:

Several companies are set to announce their first-quarter earnings, including ACC, AGI Infra, Apollo Pipes, Arvind, Ask Automotive, Astec Lifesciences, Adani Total Gas, Aurobindo Pharma, Adani Wilmar, Balmer Lawrie & Co., Basant Agro Tech (India), Bharat Electronics, Consolidated Construction Consortium, Chemo Pharma Laboratories, Colgate-Palmolive (India), Compuage Infocom, CSB Bank, Data Patterns (India), DCM Nouvelle, Diana Tea Company, Elnet Technologies, Fredun Pharmaceuticals, Gala Global Products, Goodluck India, Hindustan Petroleum Corporation, India Cements Investment Services, IdeaForge Technology, Indo-Italian Remedial & Research Medicines, India Glycols, Indian Bank, Integrated Capital Services, ISMT, Jai Balaji Industries, Jindal Saw, Jindal Drilling and Industries, Kansai Nerolac Paints, KEI Industries, Kalyani Investment Company, Likhitha Infrastructure, Mangalore Chemicals & Fertilizers, Manraj Housing Finance, Vedant Fashions, Markolines Traffic Controls, Mayur Uniquoters, MKT Creators, Omax Autos, Panache Innovations, Pfizer, RattanIndia Enterprises, Sri Ramakrishna Mills, VCU Data Management, Vinati Organics, and Vinyoflex.

Key Results Highlights:

Dr Reddy's Laboratories: The pharmaceutical giant reported a 0.90% year-on-year (YoY) drop in profit after tax (PAT) for Q1FY25 to Rs 1,392.4 crore, with revenue rising 13.88% YoY to Rs 6,757.9 crore.

Power Grid Corporation of India: The state-owned company saw a 3.52% increase in consolidated net profit to Rs 3,723.92 crore for Q1FY25, while revenue slightly decreased to Rs 11,006.18 crore from Rs 11,048.13 crore in Q1FY24.

NTPC: The power generation company reported a 12% rise in consolidated net profit to Rs 5,506.07 crore for the June quarter, up from Rs 4,907.13 crore in the previous year's corresponding quarter.

ICICI Bank: The private sector lender's Q1FY25 net profit rose by 14.6% YoY to Rs 11,059 crore, driven by treasury gains despite higher provisions.

IndiGo: The airline reported an 11.7% decline in consolidated net profit for Q1FY25 to Rs 2,728.8 crore, attributed to rising fuel costs, higher forex rates, and increased maintenance expenses.

IndusInd Bank: The bank's net profit grew by 2% YoY to Rs 2,171 crore for Q1FY25, but sequentially fell 8% from Rs 2,349 crore in Q4FY24. Net interest income (NII) rose by 11% YoY to Rs 5,408 crore.

SBI Cards: The company's net profit remained flat at Rs 594 crore in Q1FY25 due to rising delinquencies, with total income rising to Rs 4,483 crore from Rs 4,046 crore a year ago.

Bharat Heavy Electricals (BHEL): The company received a Euro 25.75 million (approximately Rs 230 crore) export order from Thales Reliance Defence Systems (TRDS) for the manufacture and supply of Transmit Receive (TR) modules.

Paytm: The company awaits approval from an inter-ministerial panel overseeing China-linked investments for its proposal to invest in its payment aggregator arm.

IPO Corner:

RNFI Services: Shares are set to debut on the NSE SME today, with a strong grey market premium (GMP) of 81%, indicating a robust listing.

Aprameya Engineering and Trom Industries: The subscription window for these IPOs closes today. Aprameya Engineering saw 5.5 times subscription, while Trom Industries was subscribed 32.4 times by the end of the second day.