The Indian markets have taken a cue from the pessimistic global markets and are currently trading lower. Here is a breakdown of stocks that are currently in focus:
Stocks with Positive Indicators:
- Bajaj Auto – Demonstrated a 260 basis point increase in margin, with a 20% rise in EBITDA.
- IndusInd Bank – Achieved an operating profit increase for the 11th consecutive quarter, with non-performing assets at an 11-quarter low.
- LTI Mindtree – Q2 results are in line with expectations, boasting an EBIT margin of 16% compared to the previous quarter’s 16.7%.
- Coforge – Maintaining their fiscal year 2024 CC revenue growth guidance, with $ revenue surpassing estimates.
- Persistent Systems – Exceeded estimates with CC revenue growth, securing record-high deal wins at $473.9 million.
- IIFL Finance – Reported a 25% increase in net profit and a 22.2% year-on-year revenue rise.
- Astral – Q2 results are in line with estimates, with a 28% year-on-year increase in sales volume for pipes and fittings.
- ICICI Lombard – Witnessed a substantial 17.4% increase in gross direct premium income and a 2.2% year-on-year profit growth.
- RPG Life – Recorded a 25.3% rise in EBITDA, with margins at 24.3% compared to the previous year’s 22.1%.
- Titagarh Rail – Saw a 45.6% increase in net profit and a 54.1% year-on-year rise in revenue.
Stocks with Negative Indicators:
- Wipro – Experienced a third consecutive quarter of revenue decline, with IT services CC revenue guidance ranging from -1.5% to -3.5%.
- Dabur – Facing litigations against three of its subsidiaries in the US and Canada.
- Bandhan Bank – Q2 performance fell below estimates, with a deterioration in asset quality.
- Oracle Finance – Witnessed a 1.2% decrease in revenue, with margins at 38.6% compared to the previous quarter’s 38.6%.
- Shoppers Stop – Reported a 2.6% decline in EBITDA, with margins at 15.5% versus the previous year’s 16.3%.
Notable Results to Watch for Today:
- HUL
- ITC
- UltraTech Cement
- Nestle
- Havells India
- Tata Communications
- Mphasis
- United Breweries
- Jindal Stainless
- Cyient
- Voltas
- Mastek
- Tata Coffee
- Sagar Cement
- Aarti Drugs
Please note that these are the key highlights of the current market situation and the stocks to watch.
