Stocks To Watch: HDFC Bank, Yes Bank, M&M Finance, Avenue Supermarts, Zomato, Britannia

Shares of HDFC Bank Ltd., Yes Bank Ltd. and IEX Ltd. will be in focus on Wednesday. The primary markets will see the opening of two mainboard IPOs—Emcure Pharmaceuticals Ltd. and Bansal Wire Industries Ltd.

HDFC Bank reported a reduction in foreign institutional investors' shareholding to 54.83% in the June 2024 quarter, down from 55.54% in the previous quarter. This change aligns with the MSCI index's requirement of keeping FII shareholding below 55.5%.

Yes Bank's gross advances rose 14.8% on a yearly basis to Rs 2.29 lakh crore in the April–June quarter, according to provisional quarterly business updates filed with stock exchanges on Tuesday.

Avenue Supermarts Ltd.'s first-quarter revenue rose 18% year-on-year to Rs 13,711.87 crore.

The operator of D-Mart chain of supermarkets said in a business update on Tuesday that revenue during the first quarter of FY23 was Rs 11,584.44 crore. The metric was Rs 9,806.89 crore during the same period in FY22 and Rs 5,031.75 crore for the quarter-ended June 30, 2021.

The Indian benchmark equity indices ended a volatile session flat on Tuesday after hitting record highs in early trade. The NSE Nifty 50 ended 18.10 points, or 0.07%, lower at 24,123.85, while the S&P BSE Sensex closed 34.74 points, or 0.04%, lower at 79,441.45.

Analysts expect the equities to cool off by 100-150 points, with 24,000 acting as a support level for the NSE Nifty 50. The Bank Nifty will find support around 51,000–51,100 zone and resistance at 53,000–53,200 zone, they said.

The GIFT Nifty was trading 11 points or 0.05% lower at 24,341.00 as of 07:07 a.m.

Top 10 Stocks To Watch

• HDFC Bank: The bank has reported a reduction in foreign institutional investors' shareholding to 54.83% in the June 2024 quarter, down from 55.54% in the previous quarter. This change aligns with the MSCI Index's requirement of keeping FII shareholding below 55.5%.

• Yes Bank: The company reported loans and advances up 14.8% year-on-year at Rs 2.29 lakh crore, deposits up 20.8% year-on-year at Rs 2.64 lakh crore for the end of Q1 FY25. CASA ratio was at 30.7% vs 30.9% QoQ.

• IEX: The company reported total volume rose 21% year-on-year to 30,354 MU, real-time electricity market volume up 26.8% year-on-year at 9,193 MU, and green market segment volumes up 94.3% year-on-year at 1,768 MU for the end of Q1 FY25.

• Avenue Supermarts: The company reported standalone revenue up 18% year-on-year at Rs 13,712 crore. The total stores as of June 30 stood at 371.

• KEC International: The company received a new order worth Rs 1,017 crore in its T&D and renewables businesses.

• Puravankara: The company acquired a 7-acre land parcel in Bengaluru, with a potential gross development value of Rs 900 crore.

• Britannia Industries: The company appointed former RBI Governor Urjit Patel as an independent director for five years effective July 2.

• Zomato: Zomato Financial Services will withdraw the RBI application for getting registered as an NBFC. The company does not want to pursue the lending/credit business anymore.

• M&M Finance: The company reported disbursements rose 5% year-on-year to Rs 12,730 crore for the end of Q1 FY25 and business assets up 4% QoQ at Rs 1.06 lakh crore. Collection efficiency for the end of Q1 stood at 94%.

• NTPC: The company reported power generation up 9.5% year-on-year to 113.87 BU, and coal stations recorded a plant load factor of 79.5% at the end of Q1 FY25.

Research Reports

• IT Services Q1 Results Preview - Decent Start To The Year Of Recovery- FY25: ICICI Securities

• NBFCs Q1 Results Preview - To Be Slower In Growth; Pressure On NIM Sustains: Nirmal Bang

• Can NDA-II Repeat The Performance Of NDA-I? Motilal Oswal's Analysis

• Inox Wind - Well-Positioned To Benefit From Tailwinds In The Wind Sector; Axis Securities Initiates With A Buy

• Adani Ports - Healthy Expansion In The Scale Of Operations, Robust Profitability To Continue: Motilal Oswal

• Prince Pipes - Heading In The Right Direction: Anand Rathi

• Amara Raja - Strategic Move In The Right Direction: Motilal Oswal

• Nykaa - Beauty And Personal Care Ambition Plausible; Fashion's A Stretch Though: HDFC Securities

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