The global markets are sending mixed signals, and even GIFT Nifty is experiencing a decline. Here are the stocks to keep an eye on today:

Stocks with Positive Developments:

  1. Kotak Mahindra Bank – Jefferies suggests that 12-month forward valuations are now below pre-covid levels. A clear succession plan could lead to a positive rerating.
  2. HPCL – The company has updated its collaboration with Petromin Corporation, Saudi Arabia, which will establish 1000 Petromin Express Stations (Quick Service Vehicle Care) at HPCL retail outlets across India within 5 years.
  3. IDFC and IDFC First Bank – The Competition Commission of India (CCI) has approved the merger of IDFC with IDFC First Bank.
  4. Bajaj Electricals – The company has been awarded a service contract worth Rs. 347.29 crore from Power Grid Corp.
  5. Tejas Network – The company has partnered with FibreConnect to deploy an end-to-end optical network in Italy. Tejas Network is the exclusive supplier of optical networking and broadband access products for FibreConnect.
  6. Mazgaon Dock Shipbuilders – The company has secured a contract with the Ministry of Defence for the construction and delivery of a training ship for the Indian Coast Guard at a cost of Rs. 310 crore.
  7. Grasim Industries – The company has resumed its carbon dioxide refining operations after obtaining approval from the Department of Industrial Safety and Health, Kalyan.
  8. Mahanagar Gas – The company has formed a 51:49 joint venture with Baidyanath LNG Private Ltd for the LNG business.
  9. Tata Elxsi – The company has reported strong Q2 results with a 3.8% increase in revenue and a 5.2% growth in operating profit. Operating profit margin remains stable at 30%.
  10. Zomato and IRCTC – These two companies have entered into an agreement for the supply and delivery of pre-ordered meals.
  11. Bajaj Finance – Q2 Net Interest Income (NII) is in-line, and the Net Interest Margin (NIM) remains at 10%.
  12. Himadri Speciality Chemicals – EBITDA has surged by 62.4%, and the margin stands at 15.7% compared to 9.2% YoY.

Stocks with Negative Developments:

  1. L&T Technologies – While the company reported healthy results, it has cut its FY24 CC revenue growth guidance.
  2. ICICI Bank and Kotak Mahindra Bank – The RBI has imposed penalties of Rs. 12.19 crore on ICICI Bank and Rs. 3.95 crore on Kotak Mahindra Bank for non-compliance with certain regulatory norms.
  3. Happiest Minds – The company has revised its FY24 revenue growth guidance down to 12%.
  4. TCI Express – EBITDA is down by 2.1%, and the margin is at 15.8% compared to 16.7% YoY.
  5. Zensar Tech – Q2 Rupee revenue is up by 1.1%, but the margin remains flat at 18.60% compared to 18.75% QoQ.
  6. VST Industries – EBITDA is down by 15.1%, and the margin is at 22.6% compared to 27.0% YoY.
  7. Biocon – The US FDA has classified the Insulin manufacturing unit in Johor, Malaysia, as OAI.
  8. ICICI Pru – The Value of New Business (VNB) Margin is below estimates at 28%, and VNB is down by 7% YoY.

Important Results Scheduled for Today:

  • Wipro
  • Bajaj Auto
  • IndusInd Bank
  • Polycab
  • ICICI Lombard
  • Astral Pipes
  • Persistent Systems
  • Bandhan Bank
  • IIFL Finance
  • Oracle
  • RPG Life Sciences
  • Tips Industries
  • UTI AMC