These Stocks Are To Watch Today: Tata Elxsi, Acc, Cipla, Adani Group, Among Others
By Mahesh Limbani
Nifty tops 16,000; Sensex jumps over 250 points; Stock Market Updates
During the opening of the Indian equity markets on Friday, the market was in the green.
Cues from around the world
A mixed session of trading characterized the US markets on Thursday, with the Dow Jones index slipping 0.4% and the S&P 500 index slipping 0.3%. On the other hand, the NASDAQ Composite gained 0.03 percent as investors shifted their focus to growth stocks.
On Friday morning, Asia-Pacific markets were volatile. Hong Kong’s Hang Seng Index dropped 0.9 percent, while Japan’s Nikkei 225 gained 0.3 percent.
As a result of uncertainty surrounding the US Fed’s rate hikes, crude oil prices increased on Friday. Oil prices rose by 0.9 percent to $100 per barrel and by 0.7 percent to $96 per barrel for Brent Crude and WTI Crude, respectively.
These Stocks Are To Watch Today: Tata Elxsi, Acc, Cipla, Adani Group, Among Others
The market will pay attention to stocks like Tata Elxsi, ACC, Cipla, Adani Group Stocks, and others today.
Today’s Stocks in Focus: The market remained in bearish territory for the fourth consecutive session with the Nifty50 closing below its 20-day exponential moving average (15,950) on July 14.
This followed weakness in global counterparts after US inflation jumped to 9.1 percent in June, the highest in 41 years. The market was weighed down by technology, banking and financial services, and FMCG stocks.
There was a 98-point decline in the BSE Sensex to 53,416 points, while the Nifty50 lost 28 points to 15,939.
Here are today’s results
The following companies will be in focus ahead of their quarterly results on July 15, including Jindal Steel & Power, Federal Bank, Aditya Birla Money, Deep Diamond India, Den Networks, Integrated Capital Services, Just Dial, Kesoram Industries, Lloyds Metals, and Energy, L&T Technology Services, Oberoi Realty, and Opto Circuits (India).
Here are some stocks to watch
Angel One
In the quarter ended June 2022, the stock broking company reported a strong topline and consolidated profit growth of 46.5%. In Q1FY23, revenues grew 45 percent YoY to Rs 669.8 crore with strong growth in fees & commissions and interest income.
Adani Ports
According to Gautam Adani’s statement on social media, Adani Ports won the tender to privatize Israel’s Haifa Port, a major trade hub on the country’s Mediterranean coast. It gives us great pleasure to announce that we won the tender for Haifa’s port privatization with our partner Gadot. In a tweet, Adani Group chairman Gautam Adani said: “This is of extreme significance for both nations.”
Syngene International
Zoetis and Syngene began working together in 2011 to manufacture biologics. Libra (bedinvetmab) treats osteoarthritis in dogs using monoclonal antibodies. Ten years have passed since that collaboration began.
Tata Elxsi
Despite strong operating profit and topline growth, the company recorded a 63 percent year-on-year profit growth at Rs 184.7 crore in the quarter ended June 2022. During Q1FY23, revenue from operations was Rs 725.9 crore, up 30% YoY, and EBITDA was 238.2 crore, up 58.8% YoY.
ACC
As a result of rising global fuel costs and related inflationary pressures, consolidated profit fell by 60 percent YoY to Rs 227 crore in the quarter ended June 2022. In Q2CY22, EBITDA fell 51 percent YoY to Rs 426 crore and margin decreased 1,310 basis points to 9.7 percent. Cement sales volume increased by 10.5% to 7.56 million tonnes, and ready mix concrete sales volume increased by 43.1% to 0.83 million cubic meters.
Cipla
In a deal with Medinnbelle Herbalcare Private Limited, Cipla Health has agreed to acquire Endura Mass, a weight gain nutritional supplement brand. All associated trademarks would be acquired along with Endura.
GTPL Hathway
Over the same period, revenue grew nearly 5 percent to Rs 630.9 crore, with subscription revenue up 3 percent YoY to Rs 272.7 crore, and broadband revenue up 24 percent YoY to Rs 113.9 crore.
Tata Steel Long Products
Based on higher raw material costs and finance costs, the company reported a loss of Rs 331 crore in the quarter ended June 2022, down from Rs 331.6 crore a year earlier. Q1FY23 revenue, however, rose 18.2 percent YoY to Rs 1,994 crore.