Stocks to watch: Tata Steel, Vodafone Idea, Amara Raja Batteries, Uflex, Future Retail
Asian stocks traded lower on Monday as the delta virus strain hampers economic reopening and as investors reacted to the release of economic data.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 46 points at the opening bell. Overseas, Asian stocks traded lower on Monday as the delta virus strain hampers economic reopening and as investors reacted to the release of economic data. South Korea’s markets are closed on Monday for a holiday. Here is the list of top stocks that could be in focus on August 16.
Tata Steel: The steel major has outlaid a capital expenditure of Rs 3,000 crore for its European operations as its focus is to make the business “stronger”, according to a report.
Bank of Maharashtra: The state-owned bank has emerged as the top performer among public sector lenders in terms of loan and savings deposit growth during the first quarter of the current financial year.
JK Cement: The cement major reported a three-fold jump in its consolidated net profit to Rs 190.08 crore for the first quarter ended on June 30, 2021.
Uflex: The packaging materials and solution company on Saturday reported a 34.47% growth in its consolidated net profit to Rs 264.28 crore for the first quarter ended June 30, 2021.
Vodafone Idea: Debt-ridden private telecom company posted a lower consolidated loss of Rs 7,319 crore for the first quarter ended on June 30, 2021, against Rs 25,460 crore loss in the same quarter a year ago.
Future Retail: The company reported widening of its consolidated net loss at Rs 1,147.28 crore for June quarter 2021-22, impacted by the second wave of the pandemic.
Petronet LNG: Petronet LNG Ltd, India’s biggest gas importer, reported a 22% growth in its June quarter net profit.
Amara Raja Batteries: The company reported 99% jump in consolidated net profit at Rs 124.1 crore for the first quarter ended June 30, 2021.
RIL: Reliance Industries’ subsidiary — Reliance Jio Infocomm (RJIL) has concluded the definitive Agreement entered with Bharti Airtel for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh (2 x 3.75 MHz), Delhi (2x 1.25 MHz) and Mumbai (2 x 2.5 MHz) circles through spectrum trading, which has been taken on record by DOT. RJIL has paid total consideration of Rs 1,183.3 crore (inclusive of taxes) to Bharti Airtel and has assumed deferred payment liability with net present value of Rs 469.3 crore.
TaMo: Tata Motors (TaMo) plans to drive in new models, expand its sales network as it aims to maintain its double-digit market share in the highly competitive domestic market. The auto major, which sells models including Nexon, Harrier, and Safari, has clawed its way up to over 10% market share in the passenger vehicle space in July this year after a span of nine years and now plans to hold on to it with a slew of measures.
Coal India: Coal India has set a capital expenditure target of Rs 17,000 crore for the 2021-22 fiscal, which is around Rs 4,000 crore more than its spending last year. The miner is expecting an improvement in cash flow with rising demand for coal and higher realisation from e-auction sales.
Ashok Leyland: Ashok Leyland is planning to expand into African and Southeast Asian markets as part of strengthening its international presence. If the company was able to make some breakthrough, it will also look at select markets in Southeast Asia as part of the international expansion plans. Currently, Nepal, Bangladesh and the Middle East are the traditional markets for a domestic company.
Heritage Foods: Heritage Foods has launched more additions to its already rich value added products portfolio. The company has introduced Shrikhand and Amrakhand variants in Hyderabad and Mumbai regions, and Malai Paneer in Mumbai. Heritage Kesar Shrikhand is a semi-soft, sweetish-sour, thick, creamy, and delicious Indian dessert loved by all age groups. It is prepared traditionally with high quality and pure kesar. It has zero preservatives, no artificial flavour or any synthetic food colours. The Company has also launched Heritage Amrakhand which is prepared with high quality Mango Pulp.