Stocks to watch: Nykaa, Hindalco, Hero MotoCorp, IRCTC, Voltas, NBCC, GMR Airports Infra

Hindalco Industries: The company predicts strong domestic demand for its core copper and aluminium products, even as its first-quarter results fell short of market expectations. The company’s consolidated net profit for the fiscal first quarter jumped 25.26% year-on-year to ₹3,074 crore, while revenue from operations improved 7.59% to ₹57,013 crore. The company remains strongly interested in state-run Hindustan Copper Ltd’s mines in Jharkhand and also plans to establish a copper foil plant for lithium-ion battery.

Hero MotoCorp: The company announced a standalone net profit of ₹1,123 crore for the quarter ending June 30, 2024, marking a 36% increase from the ₹825 crore reported in the same period last year. The company’s revenue from operations for the quarter was ₹10,144 crore, up 16 per cent from ₹8,767 crore in the corresponding quarter of the previous fiscal year.

Apollo Hospitals Enterprise: The healthcare services major reported an 83% rise in consolidated net profit at ₹305 crore for the first quarter of financial year 2024-2025. The company’s revenue from operations increased 15% to ₹5,086 crore in the quarter under review from ₹4,418 crore in the previous fiscal.

FSN E-Commerce Ventures: Nykaa reported a net profit of ₹13.6 crore in the quarter ended June 30, 2024, up 152% from ₹5.4 crore recorded in the year-ago period. The company reported an operating revenue of ₹1,746 crore, up 23% from ₹1,422 crore in the corresponding period of last year.

Nazara Technologies: The gaming and sports media firm reported a net profit of ₹23.6 crore for the quarter ended June 30, 2024, registering a 12.9% jump from ₹20.9 crore profit in the year-ago quarter. However, revenue from operations saw a minor dip to ₹250 crore for the quarter, a 1.7% YoY decline from ₹254.4 crore in the corresponding quarter last year.

Indian Railway Catering and Tourism Corporation: IRCTC announced a 32.51% rise in net profit to ₹307.71 crore in the April to June quarter of the financial year 2024-25, compared to ₹232.21 crore in the same quarter of the previous year. The company’s revenue from operations rose 11.81% to ₹1,120.15 crore for the April to June quarter of the financial year 2024-25, compared to ₹1,001.78 crore in the same quarter of the previous year.

Piramal Enterprises: The company reported a 64% decline in its June quarter net profit to ₹181 crore, impacted because of a higher base due to a one-off item last year. However, the core net interest income grew 18% to ₹807 crore on the back of a 10% increase in the overall assets under management to ₹70,576 crore.

SpiceJet: The airline is set to declare its Q1FY25 results on August 14, 2024, marking a return to timely reporting after a year of delays. Despite facing operational challenges and financial issues, SpiceJet managed to report a profit of ₹197.64 crore in Q1FY24, although it closed FY24 with a loss of ₹409 crore. The airline is now focusing on resolving its ongoing crisis and raising ₹3,000 crore to stay afloat.

Voltas, Life Insurance Corporation of India: LIC has reduced its equity stake in Voltas from 22,685,279 shares to 15,731,283 shares, decreasing from 6.856% of the company’s paid-up capital to 4.754%—a drop of 2.102%. The stake reduction occurred between June 12, 2024, and August 12, 2024. The transaction was carried out as an open market purchase at an average cost of ₹1,502.931 per share in Voltas.

EaseMyTrip Planners: The travel booking platform reported a 31% rise in its consolidated profit after tax to ₹33.93 crore in the June 2024 quarter. The company’s total income increased to ₹156.22 crore in the April-June period, from ₹126.64 crore a year ago.

Emcure Pharmaceuticals: The company’s consolidated Q1 net profit increased by 8.2% YoY to ₹152.6 crore from ₹141 crore in the previous year. The revenue grew by 16.6% YoY to ₹1,815.1 crore from ₹1,556.2 crore.

Gujarat Narmada Valley Fertilizers and Chemicals: The company’s consolidated Q1 net profit increased by 34.1% YoY to ₹118 crore from ₹88 crore in the previous year. Its revenue increased by 22.3% to ₹2,021 crore in the quarter from ₹1,652 crore in the corresponding quarter in the previous year.

Muthoot Finance: The company’s standalone Q1 net profit jumped by 10.6% YoY to ₹1,078.7 crore from ₹975.1 crore in the previous year. Its revenue grew by 21.6% to ₹2,352.7 crore from ₹1,934.9 crore in the corresponding quarter in the previous year.

PTC India: The power trading solutions provider reported a 33% rise in its consolidated net profit to ₹189 crore in the June quarter, primarily due to lower expenses. The company’s total expenses decreased to ₹4,486.14 crore in the quarter from ₹4,603.93 crore a year ago. The earnings per share (EPS) of the company increased to ₹5.87 in Q1FY25 compared to ₹4.39 in Q1FY24.

NBCC: The state-owned company reported a 38% surge in its consolidated net profit, reaching ₹107.19 crore for the quarter ended June 2024 (Q1FY25), compared to ₹77.41 crore in the same period last year. The company’s total income grew to ₹2,197.83 crore in the April-June quarter of this fiscal year, up from ₹1,974.03 crore in the corresponding quarter of the previous year.

GMR Airports Infrastructure: The company reported a consolidated net loss of ₹258.2 crore for the first quarter that ended June 30. Revenue from operations increased 19.06% to ₹2,402.20 crore as against ₹2,017.63 crore in the corresponding period of the preceding fiscal.

Mahindra and Mahindra: The company reported a 2.1% year-on-year increase in total sales for July to 64,929 units. However, production fell by 1.2% to 69,138 units, and exports dropped by 40.4% to 1,515 units.

SJVN: The company’s consolidated Q1 net profit jumped by 31.4% to ₹357.1 crore from ₹271.8 crore in the previous year. Revenue grew by 29% to ₹870.4 crore from ₹674.8 crore. Its board has approved the monetization through the securitization of partial future revenue/return on equity of the Nathpa Jhakri Hydro Power Station (NJHPS). The board also approved, in principle, the dilution of stake in its subsidiary, SJVN Green Energy.

Samvardhana Motherson International: The auto components major reported a 69.3% jump in consolidated net profit at ₹1,097.18 crore in the first quarter ended June 30, 2024, driven by strong revenue growth. Total revenue from operations in the quarter under review stood at ₹28,867.96 crore.

Manappuram Finance: The gold-loan provider reported a 12% jump in first-quarter consolidated net profit at ₹555 crore, helped by strong gold-loan growth. The company’s gold loan and other businesses rose 23.5% to ₹1,737 crore, while its microfinance arm posted a near 18% revenue growth to ₹775 crore.

Bajaj Finance: India’s largest non-banking finance company by market value is planning to borrow up to $500 million offshore. The company is negotiating the terms of the facility with a group of at least four foreign banks. The debt’s tenor may range from three to five years, with the pricing linked to the Secured Overnight Financing Rate — a common benchmark for deals in Asia. The funds will be raised under the Reserve Bank of India’s external commercial borrowing route, which caps the interest rate at 500 basis points over the benchmark rate.

State Bank of India: The country’s largest lender aims to strike a deal by end-March for the sale of its 24% stake worth ₹18,420 crore or $2.2 billion currently in smaller rival Yes Bank. Japanese lender Sumitomo Mitsui Banking Corp and Dubai-based Emirates NBD are in advanced talks to acquire a majority stake in Yes Bank.

Vedanta: The mining and natural resources company has announced an offer for sale (OFS) to offload a 2.6% shareholding of Hindustan Zinc, representing 11 crore shares. This comes after Hindustan Zinc recently reported its first profit growth after six consecutive quarters of decline, riding on higher prices and growing demand.

Honasa Consumer: The parent company of Mamaearth is expected to witness muted growth in Q2FY25 due to its transition from a super stockist to a direct-to-customer (D2C) company, which will require inventory correction. The company’s CFO, Ramanpreet Sohi, stated that the impact on the company at an annual level would be a 150 to 200 basis points on growth due to the “accelerated transition in Q2.”

LTIMindtree: The IT services major has received an order from the department of Goods and Service Tax (GST), Office of the Deputy Commissioner of State Tax in Mumbai to pay up ₹62.4 crore, following the denial of zero-rated supply provision. The company called this order unjustified and will take appropriate legal course against the said order in consultation with its advisors.

Tata Motors: Tata Motors-owned Jaguar Land Rover announced the commencement of the locally-produced Range Rover Sport in the domestic market. With this, the complete Range Rover portfolio is now made-in-India.

Bombay Dyeing and Manufacturing Company: The company has finalized agreements with Goisu Realty, a subsidiary of Sumitomo Realty & Development Company, and received ₹537.78 crore to complete the land sale transaction at Worli.

Brainbees Solutions: Nomura India Investment Fund Mother Fund A/C (Nomura) (MF India) bought a 0.93% stake in the FirstCry operator. Additionally, TNTBC as the Trustee of Nomura India Stock Mother Fund (Nomura) NISMF purchased 0.62% shares, at an average price of ₹681.03 per share.

Sansera Engineering: The company’s board of directors will meet on 20 August to consider raising funds through Qualified Institutional Placement (QIP) or other methods.

Sundram Fasteners: SBI Mutual Fund bought a 0.6% stake in the company at an average price of ₹1,318 per share. Promoter TVS Sundram Fasteners sold a 1.57% stake at the same price.

Vibrant Global Capital: Investor Siddhartha Bhaiya sold a 0.48% stake in the company at an average price of ₹78.84 per share.