Shares of DMart, HCLTech, HDFC AMC, HDFC Life, and IREDA will be in focus on Monday.
HCL Technologies Ltd. on Friday affirmed its projections for revenue growth in constant currency terms and operating margin for the financial year ending March 2025.
Indian Renewable Energy Development Agency Ltd. on Friday reported a 30% increase in its net profit on a yearly basis, for the first quarter of the financial year ending March 2025.
Sunteck Realty Ltd.'s presales increased 29.7% year-on-year to Rs 502 crore in the quarter ended June, according to the provisional numbers released by the company.
The July futures contract of the GIFT Nifty traded 11.5 points or 0.05% higher at 24,614.50 as of 6:55 a.m.
Indian benchmark indices rebounded strongly on Friday, reversing a two-day decline, boosted by a surge in information technology stocks, following Tata Consultancy Services Ltd.'s better-than-expected quarterly earnings.
The NSE Nifty 50 rose by 186.20 points, or 0.77%, to close at 24,502.15, while the S&P BSE Sensex gained 622.00 points, or 0.78%, to end at 80,519.34. This week marked the strongest weekly gain in seven months for the benchmarks.
Despite the markets appearing overbought, analysts expect the bulls to remain in control as Union budget approaches. The Nifty index hit a new record high on Friday at 24,592.2 and almost tested the target of 24,600. The index must break through the 24,600-24,620 resistance, until then analysts suggest a buy-on-dips strategy.
Analysts suggest the same strategy for the Nifty Bank index as long as it holds above 51,750. On the upside, 52,800 and 53,000 will serve as strong resistance levels, they said.
Here Are The Stocks To Watch On Monday:
Sunteck Realty: The real estate company in its first quarter reported pre-sales at Rs 502 crore, up 30% year-on-year, and collection at Rs 342 crore, up 19% year-on-year.
RVNL: The construction arm of the Ministry of Railways received a LoA from Central Railways for a Rs 133 crore project in Maharashtra.
Piramal Pharma: The US FDA pre-approval was inspected at the Ahmedabad facility and closed with zero observations.
Lupin: The US FDA inspection at the Dabhasa manufacturing facility in Gujarat ended with no observations and received an Establishment Inspection Report with the 'No Action Indicated' classification.
EMS: The company headquartered in Delhi received an LOA worth Rs 140 crore from Uttarakhand Power Corporation to supply installation services contracts for the execution of distribution infrastructure development.
Apollo Micro Systems: The company received the Make II project from the Indian Army for the supply of a vehicle-mounted counter-swarm drone system.
GTPL: The aerospace and defence company received the I&B Ministry's nod for providing headend-in-the-sky (HITS) services.
Central Bank of India: The bank is in a co-lending partnership with Shriram Housing Finance to offer MSME loans and a co-lending partnership with Arka Fincap to offer MSME loans.
Alembic Pharmaceuticals: The pharmaceutical company received tentative US FDA approval for Selexipag injection.
General Insurance Corporation of India: Radhika CS takes charge as Executive Director effective today.
Earnings Post Market
HCL Tech Q1 FY25 (Consolidated, QoQ)
Revenue down 1.6% at Rs 28,057 crore versus Rs 28,499 crore (Bloomberg estimate Rs 28,028 crore)
EBIT down 4.6% at Rs 4,795 crore versus Rs 5,024 crore (Bloomberg estimate Rs 4806.4 crore)
EBIT margin at 17.1% versus 17.6% (Bloomberg estimate 17%)
Net profit up 6.6% at Rs 4,259 crore versus Rs 3,995 crore (Bloomberg estimate Rs 3,846.1 crore)
Company declared dividend of Rs 12 per share.
IREDA Q1 FY25 (YoY)
Revenue up 32% at Rs 1,511 crore vs Rs 1,143 crore.
Net profit up 30% at Rs 384 crore vs Rs 295 crore.
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