Nagpur Stock：Stocks To Watch： Infosys, Coal India, Bank of Baroda, Maruti Suzuki, Tata Steel
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap up opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 39 points or 0.16% at 25,088 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 closed the session 94 points or 0.38% higher to settle at 24,951, while the BSE Sensex rose 286 points or 0.35% to close at 81,741.
IT services company Infosys has received a pre-show cause notice for alleged evasion of goods and services tax (GST) amounting to Rs 32,403 crore. In a recent BSE filing, Bengaluru-based Infosys revealed that Karnataka GST authorities have issued a pre-show cause notice demanding Rs 32,403 crore in GST for the period from July 2017 to March 2022. This notice relates to expenses claimed by Infosys’s overseas branches. The company has confirmed that it has responded to the notice.
Following the news, the company’s ADR slipped 3.6% to the day’s low of $21.75 from its opening price of $22.57.
Coal India reported a 4.24% growth on year in its consolidated net profit standing at Rs 10,943.55 crore for the quarter. The company reported a net profit of Rs 10,498.39 crore in the year-ago periodNagpur Stock. Its revenue from operations rose 1.3% to Rs 36,465 crore in Q1FY25 as against Rs 35,983 crore in the year-ago period.
Bank of Baroda (BoB) reported a 10% on year rise in its net profit to Rs 4,458 crore for the quarter ended June, led by a stable asset qualityPune Investment. The profit after tax (PAT) was largely in line with the Bloomberg consensus estimate of Rs 4,547 crore. The gross and net non-performing asset ratios improved by 63 bps and 9 bps YoY to 2.88% and 0.69%, respectively.
Maruti Suzuki India reported a jump of 46.9% on year in its net profit of Q1 FY25 on account of cost reduction efforts, favourable commodity prices and foreign exchange. The company’s profit came at Rs 3,649.9 crore compared to Rs 2,485.1 crore in the year-ago period.
Tata Steel reported a 51.4% on-year jump in its consolidated net profit at Rs 959.61 crore in Q1 FY25 as operations in the Netherlands got back to normal operating levels. The net profit rise was also aided by lower expenses and lower raw material costs. The steel major’s net profit in the year-ago period stood at Rs 633.95 crore. Its total revenue on a consolidated basis was Rs 54,771.39 crore, down 7.9% on year.
Aster DM Healthcare’s net profit soared 81.3% on year to Rs 81 crore, helped by higher occupancy during the flu season, excluding the gain of Rs 5,148 crore in the first quarter from the sale of its Gulf business. Its revenue from operations rose 19% to Rs 1,002 crore.
Beating the street estimates, Godrej Properties posted over four-fold jump in net profit at Rs 520 crore in Q1FY25 as compared to Rs 125 crore in the corresponding quarter of the previous financial year. The jump in profit was aided by lower taxes and expenses. As per a Bloomberg poll, analysts estimated a profit of 377 crore. The company said it was the highest-ever net profit for it. However, the company’s revenue from operations fell 21% to Rs 739 crore in Q1FY25 as compared to Rs 936 crore in Q1FY24Surat Investment. Analysts expected revenues of Rs 1,338 crore.
posted a 55% decline in its net profit at Rs 3,913 crore for the Q1FY25 as compared to Rs 8,759 crore in the corresponding quarter of the previous financial year. The net profit declined to higher expenses. The company’s revenues went up 36% at Rs 14,956 crore in Q1FY25 as compared to Rs 11,006 crore in Q1FY24. Total expenses went up 14% on a year-on-year (y-o-y) basis in Q1FY25.
Mankind Pharma recorded a profit growth of 10.2% during the first quarter of FY25 at Rs 536.49 crore. This is in comparison to Rs 486.87 crore posted during the first quarter of the previous financial year. It recorded revenue from operations at Rs 2,893.42 crore, up 12.2% as against Rs 2,578.62 crore during the corresponding quarter of FY24.
Ahmedabad Investment
