Stocks To Watch: IndusInd Bank, Adani Enterprises, Vishal Mega Mart, UltraTech Cement, Cochin Shipyard

IndusInd Bank: Net advances declined 3.1% quarter-on-quarter to Rs 3.34 lakh crore. Deposits also declined by 3.3% quarter-on-quarter and 0.3% year-on-year to Rs 3.97 lakh crore. CASA ratio fell to 31.5% from 32.81% in the previous quarter.

Jubilant Foodworks: Consolidated revenue from operations increased 17% year-on-year to Rs 2,261 crore, while standalone revenue rose 18.2% to Rs 1,702 crore. Domino’s India reported 11.6% like-for-like growth. Domino’s Turkey, however, posted a 2.2% decline in LFL growth. The JFL Group added 73 new stores during the quarter, taking the total store count to 3,389.

FSN E-Commerce Ventures (Nykaa): In the first quarter consolidated net revenue is expected to grow at the lower end of the mid-20% range, while GMV growth is projected to exceed that, crossing into the upper mid-20% range. The Beauty segment is expected to lead, with strong growth from the House of Nykaa Brands. The Fashion vertical shows sequential improvement, with GMV growth expected in the mid-20s and revenue growth improving to mid-teens. Growth was impacted by softer consumer sentiment during its flagship sale due to geopolitical tensions.

Vishal Mega Mart: A fire broke out on July 4, at a New Delhi retail outlet, resulting in two fatalities. The incident is under investigation by Delhi Police. The company stated that affected assets are insured and assessment of the damage is ongoing.

Tata Steel: Received a demand notice for Rs 1,903 crore from the Jajpur deputy director of mines, citing shortfall in mineral supply from Sukinda Chromite block under the mine development agreement for the fourth year running.

India Cements: The company is under probe by the CCI for alleged cartelisation, but no findings or penalties have been made so far. The company is currently evaluating the DG’s report and considering legal options.

UltraTech Cement: Clarified that it is not under investigation in the alleged cement cartelisation case. However, its arm India Cements is part of the ongoing CCI probe.

Cochin Shipyard: Signed MoU with HD Korea Shipbuilding & Offshore Engineering for long-term collaboration in shipbuilding and maritime development.

Adani Enterprises: Announced Rs 1,000 crore NCD issue with an effective yield of up to 9.30% p.a.; issue opens July 9 and closes July 22.

Unimech Aerospace: Commerce Minister Piyush Goyal visited its Bengaluru facility on July 5.