GIFT Nifty traded down by 34.50 points, or 0.14%, at 24,426.50, indicating a negative start for NSE Nifty 50 and BSE Sensex.
On Tuesday, the NSE Nifty 50 declined by 30.20 points, or 0.12%, to settle at 24,479.05, while the BSE Sensex dropped 73.04 points, or 0.09%, to 80,429.04.
Stocks To Watch
Hindustan Unilever: The company’s net profit grew by 2.7% to Rs 2,538 crore in the first quarter of FY25, with revenue increasing by 1.3% to Rs 15,339 crore. The company anticipates low single-digit price growth in the second half of the financial year. Year-on-year, net profit rose 3% to Rs 2,538 crore in Q1FY25.
DCM Shriram: The diversified agri firm’s net profit jumped 77.2% year-on-year to Rs 100.3 crore for the quarter ending June 30, 2024. Revenue from operations increased by 4.6% to Rs 3,073 crore.
Tata Consumer Products: The company’s board announced a rights issue worth Rs 3,000 crore at Rs 818 per share.
Vedanta: At its board meeting on July 26, the company will consider the second interim dividend on equity shares, if any, for FY25.
Bajaj Finance: Non-bank lender reported a net profit of Rs 3,912 crore for the April-June quarter, closely aligning with the street estimate of Rs 3,973.7 crore. Net Interest Income (NII) stood at Rs 8,365 crore, also largely in line with the anticipated Rs 8,445.1 crore.
Axis Bank: The bank is expected to report double-digit growth in profit and Net Interest Income (NII) for the April-June quarter (Q1FY25) when it releases its results on Wednesday, July 24. The increase is expected to be driven by healthy loan growth.
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