Stocks to watch: HUL, Bajaj Finance, Axis Bank, REL, Asian Paints, DCM Shriram

Hindustan Unilever: The company’s net profit grew by 2.7% to ₹2,538 crore in the first quarter of FY25, and revenue increased by 1.3% to ₹15,339 crore. EBITDA rose by 2.4% to ₹3,606 crore, and the margin expanded to 23.5%. The underlying volume growth was at 4%. The company expects low-single-digit price growth in the second half of the financial year. The company’s net profit rose 3% YoY to ₹2,538 crore in Q1FY25.

Bajaj Finance: The non-banking finance company’s net profit rose by 14% to ₹3,912 crore in Q1FY25, and net interest income jumped by 25% to ₹8,365 crore. However, both Gross NPA and Net NPA showed a slight increase. Bajaj Finance's Q1FY25 net profit numbers missed street expectations.

United Spirits: The company’s profit grew by 1.7% to ₹485 crore, and revenue soared by 3.5% to ₹2,761 crore in the first quarter of this fiscal. However, EBITDA remained flat at ₹713 crore, and the margin dropped by 90 bps to 25.8%.

Torrent Pharmaceuticals: The company’s net profit grew by 21% to ₹457 crore, and revenue increased by 10.3% to ₹2,859 crore in Q1FY25. EBITDA rose by 14.3% to ₹904 crore, and the margin expanded by 110 bps to 31.6%.

ICICI Prudential Life Insurance: The value of new business (VNB) grew by 7.8% to ₹472 crore, but the VNB margin dropped to 24% in the first quarter of this fiscal. Premium growth (APE) increased by 34.4% to ₹1,963 crore, and profit climbed by 8.7% to ₹225 crore.

Schaeffler India: The auto parts maker reported a 3.5% YoY growth in net profit at ₹245.4 crore for the first quarter that ended June 30, 2024. The company’s revenue from operations increased 15.2% to ₹2,106.8 crore.

Religare Enterprises: The company is likely to file the open offer application with the concerned regulators, but it is also likely to submit views of its board and particularly independent directors on why the open offer should not be approved as it is not transparent and fair.

Steel Strips Wheels: The company reported net sales at ₹1,025.29 crore in June 2024, down 1.83% YoY from Rs. 1,044.40 crore in June 2023. Quarterly net profit for the company stood at ₹46.20 crore in June 2024, down 2.94% YoY from Rs. 47.60 crore in June 2023.

Heritage Foods: The company reported net sales of ₹1,019.59 crore in June 2024, up 11.64% from ₹913.31 crore in June 2023. Quarterly net profit stood at ₹58.01 crore in June 2024, up 220.97% from Rs. 18.07 crore in June 2023.

ICRA: The company reported net sales at ₹63.20 crore in June 2024, up 8.67% YoY from Rs. 58.16 crore in June 2023. Quarterly net profit stood at ₹24.72 crore in June 2024, down 5.1% YoY from ₹26.04 crore in June 2023.

United Spirits: The Diageo-controlled liquor maker reported a 1.7% YoY increase in consolidated net profit at ₹485 crore for the first quarter that ended June 30, 2024. The company’s consolidated net sales grew 3.5% to ₹2,761 crore.

ICICI Prudential: The company reported a 9% increase in profit after tax (PAT) for the June quarter at ₹224.34 crore. Its net premium income increased to ₹7,875 crore from ₹7,020 crore a year earlier.

DCM Shriram: The diversified agri firm reported a 77.2% YoY jump in net profit at ₹100.3 crore for the first quarter that ended June 30, 2024. The company’s revenue from operations increased 4.6% to ₹3,073 crore.

Parag Milk Foods: The company’s net profit jumped by 27.5% in Q1FY25 to ₹27.3 crore, and revenue grew by 1.1% to ₹757.9 crore.

Thyrocare Technologies: The company’s net profit spiked by 38.8% to ₹23.9 crore in the first quarter of the fiscal, and revenue grew by 16.3% to ₹156.9 crore.

Bajel Projects: The company received contracts worth ₹586.28 crore for the supply of goods and services for a transmission line package from PowerGrid Corporation of India.

South Indian Bank: The bank announced that the board members will meet on July 30 to consider raising funds via the issuance of equity shares through various methods.

Titagarh Rail Systems: The company has commenced the export of traction converters. The first batch of eight converters was shipped to Titagarh Firema SpA, Italy, on July 19, the company said.

Vedanta: The mining company will be considering its second interim dividend for the fiscal on July 26. The record date for determining entitlement of equity shareholders for the proposed dividend, is being fixed as Saturday, August 03.

Axis Bank: The bank is expected to post double-digit growth in profit and net interest income (NII) for the April-June quarter (Q1FY25), when it reports its quarterly results on Wednesday, 24 July. The increase is expected to be driven by a healthy growth in loans.

Tata Consumer Products: The company’s board announced a rights issue worth ₹3,000 crore at ₹818 per share.

Mahindra & Mahindra Financial Services: The company posted a 45.45% jump in net profit at ₹512.96 crore in the first quarter of FY25.

SpiceJet: The company plans to raise up to ₹3,000 crore by selling securities, including shares.

Asian Paints: The company has implemented another price increase of 1-1.25%, marking the second price hike in just a month. The company had previously raised prices by around 1% effective July 22, 2024. In the June quarter, Asian Paints reported a 7% volume growth.

Infosys: The IT company has invested €5 million for a minority stake in German venture capital fund UVC Partners. The investment will be made as and when the capital is called over the investment period of approximately five years. These solutions leverage artificial intelligence (AI) and Deep Tech to aid clients in their business transformation efforts.

Indoco Remedies: The company reported net sales at ₹401.43 crore in June 2024, which was down 5.07% from Rs. 422.88 crore in June 2023. Quarterly net profit at Rs. 14.95 crore in June 2024 was down 42.37% YoY from Rs. 25.94 crore in June 2023.

MMP Industries: The company reported net sales at ₹155.51 crore in June 2024, up 2.69% YoY from Rs. 151.43 crore in June 2023. Quarterly net profit stood at Rs. 9.88 crore in June 2024, up 51.97% YoY from Rs. 6.50 crore in June 2023.

Nupur Recyclers: The company reported net sales at ₹34.42 crore in June 2024, up 87.47% YoY from Rs. 18.36 crore in June 2023. Quarterly net profit stood at Rs. 2.99 crore in June 2024, up 95.42% from Rs. 1.53 crore in June 2023.