 "Stocks to watch: Titagarh Rail Systems, Infosys, Tata Consumer, HUL, Bajaj Finance, and United Spirits")
The GIFT Nifty index was down 66 points, or 0.27 per cent, at 24,405 points as of 9 am on Wednesday, July 24, indicating a negative opening for Dalal Street. The India VIX, an indicator of volatility in the market, was down 17.43 per cent at 12.45 points.
Ahead of the market opening, here’s a look at stocks to watch:
Titagarh Rail Systems: Titagarh has commenced the export of traction converters, with the first batch of 8 converters shipped to Titagarh Firema S.p.A (Titagarh Firema) in Italy on July 19, 2024. This export is part of a EUR 7.18 million (INR 65 Crore Approx.) order from Titagarh Firema and marks the initial rollout of traction converters from Titagarh’s Passenger Rolling Stock Facility in India.
Infosys: Infosys Innovation Fund is investing €5.0 million in UVC Fonds IV GmbH & Co. KG, a venture capital fund managed by UVC Partners. This investment aims to utilise UVC’s expertise in AI and Deep Tech to enhance Infosys’ capabilities in business transformation for its clients. The investment, facilitated through Infosys Germany GmbH, a subsidiary of Infosys Limited, is expected to span approximately five years.
Hindustan Unilever: The company’s net profit increased by 2.7 per cent to Rs 2,538 crore in the first quarter of FY25, with revenue rising by 1.3 per cent to ₹15,339 crore. EBITDA grew by 2.4 per cent to Rs 3,606 crore, with the margin expanding to 23.5 per cent. Underlying volume growth was at 4 per cent. The company anticipates low-single-digit price growth in the second half of the financial year. Year-on-year, net profit rose 3 per cent to Rs 2,538 crore in Q1FY25.
Bajaj Finance: The non-banking finance company’s net profit grew by 14 per cent to Rs 3,912 crore in Q1FY25, with net interest income increasing by 25 per cent to Rs 8,365 crore. However, both Gross NPA and Net NPA showed a slight uptick. Bajaj Finance’s Q1FY25 net profit numbers fell short of street expectations.
Impact Shorts
More ShortsBajel Projects: The company has secured contracts for supplying goods and services for a transmission line package from PowerGrid Corporation of India, valued at Rs 586.28 crore.
Tata Consumer Products: Providing an update on the Rights Issue approved in January this year, Tata Consumer Products announced plans to issue 36.6 million rights equity shares to raise Rs 2,997.77 crore.
United Spirits Limited: United Spirits Limited is acquiring a stake in V9 Beverages Private Limited, known as Sober, a zero-alcohol beverage company. The investment involves subscribing to 1,972 Compulsory Convertible Preference Shares (CCPS) and 10 equity shares, representing 15 per cent of Sober’s issued and paid-up share capital, for Rs 2,29,41,095.04.
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