Stocks To Watch: IndiGo, Vedanta, Bharti Airtel, Unichem, Adani Enterprises, UltraTech Cement, HPCL, Titan

Asian equity futures fell after heavy selling in U.S. stocks as investors digested data showing a hot U.S. labor market that will keep pressure on the Federal Reserve to maintain restrictive policy.

Contracts for benchmarks in Japan, Australia and Hong Kong fell. The S&P 500 declined 1.4%, its worst day since April, stemming a recent rally partly driven by investor demand for artificial intelligence stocks. That excitement appeared to abate as the Nasdaq 100 fell 2.2% and Qualcomm Inc. slid on a tepid revenue forecast in late Wednesday trading.

Meanwhile, Brent crude was trading around $83 a barrel and West Texas Intermediate was below the $80-mark. The yield on the 10-year U.S. bond was trading at 4.08% and Bitcoin was below 30,000-level.

At 5:21 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was unchanged at 19,760.

India's benchmark stock indices declined over 1% through Wednesday as global sentiment was subdued after Fitch Ratings’ downgrade of the U.S. sovereign credit grade. All sectors plunged, with PSU banking and metal stocks declining the most. The Sensex ended below the 66,000 mark and the Nifty below 19,550 for the first time since July 13.

Overseas investors in Indian equities remained net sellers on Wednesday for the fifth session in a row. Foreign portfolio investors offloaded stocks worth Rs 1,877.84 crore, while domestic institutional investors turned net sellers and sold stocks worth Rs 2.23 crore.

The local currency weakened 33 paise to close at Rs 82.59 against the U.S. dollar on Wednesday.

Unichem Laboratories: Promoter Prakash A Mody sold 33.4% stake for Rs 945.35 crore to Ipca Laboratories via block deal mechanism. Ipca Laboratories has made an open offer to the company's public shareholders to acquire another 26% stake at Rs 440 apiece aggregating to Rs 805.44 crore.

Gujarat Gas: The company will buy 7.87% stake in GSPC LNG for Rs 100 crore.

Vedanta: Twin Star Holdings is likely to sell 4.3% stake via a block trade, seeking at least Rs 4,136 crore. The shareholder may sell 16 crore shares at floor price of Rs 258.5 apiece, representing a discount of 5% on Wednesday's closing price.

UltraTech Cement: The company will acquire a 26% stake in VEH Radiant Energy for Rs 15.10 crore. It has signed share subscription and shareholders agreement as well as energy offtake agreement with VEH Radiant Energy.

Mining companies: Both houses of Parliament have cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023 which opens up deep-seated minerals like lithium mining to private players.

JSW Steel: The company signed a joint-venture deal with Japan's JFE Steel to produce cold-rolled grain oriented silicon steel. The project cost is Rs 5,500 crore and will be financed by a mix of equity and debt.

Sheela Foam: The board approved raising up to Rs 1,200 crore via Qualified Institutional Placement. It also approved raising Rs 600 crore via private placement of non-convertible debentures.

Hindalco Industries: The company has won the bid to mine the Meenakshi West coal mine in Odisha.

NTPC: The company's subsidiary NTPC Mining has won the bid to mine the North Dhadu coal mine in Jharkhand.

Ramkrishna Forgings: The company has formed a joint venture with Titagarh Rail Systems to form 'Ramkrishna Titagarh Rail Wheels' for manufacturing and supply of forged wheels.

Torrent Power: The company has incorporated its unit 'Torrent Green Energy Pvt' to carry business in the electricity generation from renewable energy industry. It is yet to commence operations.

Central Bank of India: The company appointed Dr. Bhaskar Gorugantu as the Chief Risk Officer with effect on Aug. 3 after Ashwini Kumar Shukla departed.

Asian Energy Services: The company received a Letter Of Authorisation from Gail India for hiring of services for acquisition of seismic data in Block RJONHP20211 in Rajasthan. The value of LOA is Rs 16.69 crore and the contract duration is six months.

Narayana Healthcare: Four independent directors to retire with effect from Aug. 7.

Oil India: The company's wholly owned subsidiary Oil India International was allowed voluntary liquidation by NCLT order.

Interglobe Aviation: The Board approved incorporation of Limited Liability Partnership for Rs 7 crore which will be completed in three years.

Titan Company Q1 FY24 (Consolidated figures, YoY)

• Revenue up 26% at Rs 11897 crore Vs Rs 9443 crore (Bloomberg Estimate: Rs 10519.3 crore)

• Net profit down 4% Rs 753 crore Vs Rs 785 crore (Bloomberg Estimate: Rs 913.35 crore)

• Ebitda down 6% at Rs 1125 crore Vs Rs 1196 crore (Bloomberg Estimate: Rs 1353.4 crore )

• Margins at 9.5% Vs 12.7 % (Bloomberg Estimate: 12.9%)

InterGlobe Aviation Q1FY24 Results (Consolidated, YoY)

• Revenues up 30% at Rs 16,683 crore vs Rs 12,855 crore (Bloomberg Estimate Rs 15,622 crore)

• EBITDAR up 679% to Rs 5169.49 crore Vs Rs 663.89 crore. (Bloomberg Estimate: Rs 3,366.40 crore)

• Margins 31% Vs 5% (Bloomberg Estimate: 21.55%)

• Net profit at Rs 3,090.6 crore vs Net loss of Rs 1,064.3 crore (Bloomberg Estimate: Rs 1,719 crore)

Gujarat Gas Q1FY2024 (Consolidated, YoY)

• Revenues down 26% at Rs 3,923.7 crore vs Rs 5,303.23 crore (Bloomberg Estimate: Rs 3971.67 crore)

• Net profit down 43.4% at Rs 215.95 crore vs Rs 381.9 crore (Bloomberg Estimate: Rs 304.33 crore)

• Ebitda down 36% at Rs 388 crore vs Rs 606.6 crore (Bloomberg Estimate: Rs 516.33 crore)

• Margins at 9.89% vs 11.44% (Bloomberg Estimate: 13%)

Narayana Hrudalaya- Q1 FY2024-consol figures (YoY)

• Revenue up 19% at Rs 1,233 crore Vs Rs 1,033 crore (Bloomberg Estimate: : Rs 1,162 crore)

• Net profit up 66% at Rs 184 crore Vs Rs 111 crore (Bloomberg Estimate: Rs 156 crore Profit)

• EBITDA up 41% to Rs 271 crore from Rs 192 crore (Bloomberg Estimate: Rs 253 crore Profit)

• Margins at 21.9% Vs 18.6% (Bloomberg Estimate: 21.8%)

Metropolis Healthcare- Q1 FY2024 (Consolidated, YoY)

• Revenue down 1% at Rs 277 crore Vs Rs 280 crore (Bloomberg Estimate: Rs 290 crore)

• Net profit down 14% at Rs 29 crore Vs Rs 33 crore (Bloomberg Estimate: Rs 33 crore Profit)

• EBITDA down 8% to Rs 63 crore from Rs 68 crore (Bloomberg Estimate: Rs 72 crore Profit)

• Margins at 22.7% Vs 24.5% (Bloomberg Estimate: 24.8%)

Mankind Pharma- Q1 FY2024-consol figures (YoY)

• Revenue up 18% at Rs 2,579 crore Vs Rs 2,180 crore (Bloomberg estimate : Rs 2,446 crore)

• Net profit up 66% at Rs 487 crore Vs Rs 293 crore (Bloomberg estimate: Rs 398 crore Profit)

• EBITDA up 44% to Rs 655 crore from Rs 456 crore (Bloomberg estimate: Rs 560 crore Profit)

• Margins at 25.4% Vs 20.9% (Bloomberg estimate: 22.9%)

HPCL Q1 FY24 (Consolidated, YoY)

• Revenue fell 2% to Rs 1,11,686 crore Vs Rs 1,14,127.07 crore (Bloomberg estimate: Rs 1,08,085.6 crore)

• Ebitda of Rs 2,169.36 crore Vs EBITDA loss of Rs 19,865.52 crore (Bloomberg estimate: Rs 10,322.4)

• Margin 2% (Bloomberg estimate: 9.6%)

• Net profit of Rs 6,765.5 crore Vs net loss of Rs 8,557.12 crore.

Amrutanjan Health Care Q1FY2024 YoY

• Revenue up 10% at Rs 77.86 crore vs Rs 70.95 crore.

• Net Profit up 91% at Rs 7.01 crore vs Rs 3.66 crore.

• Ebitda up 115% at Rs 7.15 crore vs Rs 3.33 crore.

• Ebitda margin  at 9.2% vs 4.7%.

KSB Q2FY2024 (Consolidated, YoY)

• Revenue up 32% at Rs 591.3 crore vs Rs 448.4 crore.

• Net profit up 32% at Rs 62.8 crore vs Rs 47.4 crore.

• Ebitda up 39% at Rs 85.2 crore vs Rs 61.1 crore.

• Ebitda margin at 14.4% vs 13.6%.

Paradeep Phosphates Q1FY2024 (Consolidated, YoY)

• Revenue up 25% at Rs 3,054.33 crore vs Rs 2,434.66 crore.

• Net loss at Rs 119.94 crore vs net profit of Rs 62.77 crore.

• Ebitda loss at Rs 38.56 crore vs Ebitda of Rs 157.24 crore.

Pricol Q1FY2024 (Consolidated, YoY)

• Revenue up 20% at Rs 522.10 crore vs Rs 433.98 crore.

• Net profit up 55% at Rs 31.94 crore vs Rs 20.59 crore.

• Ebitda up 17% at Rs 49.55 crore vs Rs 42.47 crore.

• Ebitda margin at 9.5% vs 9.8%.

Quess Corp Q1FY2024 (Consolidated, YoY)

• Revenue up 16% to Rs 4,600 crore vs Rs 3,979.32 crore. (Bloomberg Estimate: Rs 4,605.77 crore)

• Net profit down 29% at Rs 48.12 crore vs Rs 67.70 crore. (Bloomberg Estimate: Rs 56.30 crore)

• Ebitda at Rs 153.88 crore vs Rs 153.34 crore. (Bloomberg Estimate: Rs 168.05 crore)

• Ebitda margin at 3.3% vs 3.9%. (Bloomberg Estimate: 3.65%)

Sheela Foam Q1FY2024 (Consolidated, YoY)

• Revenue down 8% at Rs 645.08 crore vs Rs 700.67 crore.

• Net profit up 2% at Rs 43.32 crore vs Rs 42.52 crore.

• Ebitda up 18% at Rs 77.62 crore vs Rs 65.85 crore.

• Ebitda margin at 12% vs 9.4%.

Vaibhav Global Q1FY2024 (Consolidated, YoY)

• Revenue up 5% at Rs 658.25 crore vs Rs 628.27 crore.

• Net profit up 51% at Rs 29.57 crore vs Rs 19.58 crore

• Ebitda up 38% at Rs 58.09 crore vs Rs 42.06 crore.

• Ebitda margin at 8.8% vs 6.7%.

V.I.P. Industries Q1FY2024 (Consolidated, YoY)

• Revenue up 8% at Rs 636.13 crore vs Rs 590.61 crore.

• Net profit down 16% at Rs 57.75 crore vs Rs 69.1 crore.

• Ebitda down 21% at Rs 80.6 crore vs Rs 102.61 crore.

• Ebitda margin at 12.7% vs 17.4%.

Vardhman Special Steels Q1FY2024 (YoY)

• Revenue down 13% at Rs 409.35 crore vs Rs 469.16 crore.

• Net profit down 39% at Rs 18.57 crore vs Rs 30.30 crore.

• Ebitda down 36% at Rs 29.23 crore vs Rs 45.70 crore.

• Ebitda margin at 7.1% vs 9.7%.

Adani Enterprises, Adani Power, Bharti Airtel, Bannari Amman Sugar, Dabur India, Cummins India, Deepak Nitrite, DCX Systems, Kansai Nerolac Paints, Blue Star, Clean Science & Technology, AAVAS Financiers, Akzo Nobel India, Great Eastern Shipping Company, Piramal Pharma, Eicher Motors, Cera Sanitaryware, JM Financial, ICRA, Solar Industries India, Ganesha Ecosphere, Bannariamman Sugars, Automotive Axles, Hindustan Construction Company, Balmer Lawrie & Co, Gulf Oil Lubricants India, Andhra Paper, Avadh Sugar & Energy, Lupin, MRF, LIC Housing Finance, Radico Khaitan, KEC International, Mahanagar Gas, Minda Corporation, Karnataka Bank, Neuland Laboratories, Privi Speciality Chemicals, Nilkamal, Navneet Education, Refex Industries, Rossell India, Punjab Chemicals & Crop Protection, Oriental Carbon and Chemicals, NR Agarwal Industries, Orient Abrasives, Smartlink Holdings, Sandur Manganese & Iron Ores, Oriental Trimex, Sun Pharmaceutical Industries, Varun Beverages, Zomato, Tube Investments of India, Zydus Wellness, Texmaco Rail and Engineering, Xchanging Solutions, Texmaco Infrastructure & Holdings, Steelcast, Tree House Education and Accessories, Venus Pipes & Tubes, Supriya Lifesciences, Tijaria Polypipes and Yasho Industries.

Vedant Fashions: To meet with analyst on August 9.

Akzo Nobel India, Automotive Axles, Blue Star, Cummins India, Prataap Snacks, Dollar Industries, Great Eastern Shipping, ICRA, Indian Hume Pipe, JK Tyre Industries, JM Financial, Kirloskar Ferrous Industries, Lupin, Laxmi Organic Industries, Prism Johnson, Rajratan Global Wire, Ratnamani Metals and Tubes.

Unichem Laboratories: Prakash Amrut Mody sold 2.35 crore shares (33.4%) and Ipca Laboratories bought 2.35 crore shares (33.4%) at Rs 402.25 apiece.

Campus Activewear: ICICI Prudential bought 25 lakh shares (0.8%) at Rs 295 apiece and Societe Generale bought 17 lakh shares (0.6%) at Rs 295 apiece.

Satia Industries: SDS Cotton sold 5.1 lakh shares (0.5%) at Rs 113.79 apiece.

Niyogin Fintech: WF Asian Reconnaissance Fund sold 1.2 crore shares (12.9%) at Rs 61.65 apiece and Carmignac Portfolio sold 5.5 lakh shares (0.6%) at Rs 68.11 apiece. Think India Opportunities Master Fund bought 58 lakh shares (6.1%) at Rs 61.65 apiece, Madhuri Madhusudhan Kela bought 50.2 lakh shares (5.3%) at Rs 61.65 apiece, Multiplier Share & Stock Advisors bought 10 lakh shares (1%) at Rs 61.65 apiece and Mansi Share & Stock Advisors bought five lakh shares (0.5%) at Rs 64.88 apiece.

Ultramarine and Pigments: Promoter Daya Sridhar sold 16,000 shares on Aug. 1.

• Price Band Revised From 20% To 10%: DCM Shriram Industries

• Ex-date Dividend: Alembic, ADF Foods, Avanti Feeds, Bata India, Greaves Cotton, United Breweries, Xpro India, Honeywell Automation India, Ramco Industries, Maruti Suzuki India, Granules India, Usha Martin, Honda India Power Products, Clean Science and Technology, Esab India, Oriental Aromatics, S H Kelkar and Company, UPL, Ramco Industries, Cholamandalam Financial Holdings, Avanti Feeds, Matrimony.Com, Ramco Cements, DISA India.

• Ex-date Interim Dividend: Aegis Logistics, Coforge.

• Ex-date AGM: ADF Foods, Bata India, IOL Chemicals and Pharmaceuticals, Godrej Industries, United Breweries, Xpro India, Honeywell Automation India, Ramco Industries, Granules India, Usha Martin, Honda India Power Products, Clean Science and Technology, Esab India, Privi Speciality Chemicals, Oriental Aromatics, S H Kelkar and Company, Cholamandalam Financial Holdings, Avanti Feeds, Expleo Solutions, UPL, Ramco Cements.

• Record-date Dividend: Alembic, Granules India, Usha Martin, Ramco Industries, Matrimony.Com, Ramco Cements.

• Record-date Interim Dividend: Aegis Logistics, Coforge.

• Move Into Short-Term ASM Framework: Dilip Buildcon, LT Foods, Orient Green Power

• Move Out Of Short-Term ASM Framework: Dodla Dairy, Heritage Foods, Xchanging Solutions

• Nifty August futures ended at 19,585.15, a discount of 227.40 points.

• Nifty August futures fell 3.31%, with 7,135 shares in open interest.

• Nifty Bank August futures ended at 45,130.00, a discount of 617.95 points.

• Nifty Bank August futures fell 3.01% with 3,949 shares in open interest.

• Securities in the ban period: Indiabulls Housing Finance, Piramal Enterprises, Hindustan Copper, Gujarat Narmada Valley Fertilizers and Chemicals.

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