Stock Market News: July 23, 2024, Top Stocks Expected to Surge

Exploring Lucrative Investment Prospects in the Indian Stock Market on July 23, 2024

Oberoi Realty Ltd

Rs.1,794.95/-

Oberoi Realty Posts Significant Q1FY25 Gains

• Oberoi Realty’s Q1FY25 net profit increased by 82% year-on-year to Rs. 584.5 crore.
• The surge was driven by a robust revenue growth of 54.4%, reaching Rs. 1,405.2 crore.
• Brokerage firms have responded positively, raising target prices and expressing optimism about future growth.
• Morgan Stanley upgraded Oberoi Realty to “equal-weight” from “under-weight,” setting a new target price of Rs. 1,900 per share.
• Over the last year, OBEROIRLTY stock has delivered a return of 56.59%.

Suzlon Energy Ltd

Rs.57.80/-

 Suzlon Energy Reports Impressive Q1FY25 Performance

• Suzlon Energy’s net profit for Q1FY25 surged by 200% year-on-year, reaching Rs. 302 crore.
• Revenue from operations increased by 50% year-on-year, totaling Rs. 2,016 crore.
• Brokerage firms are optimistic about Suzlon’s growth potential in the wind energy sector.
• Over the past five years, SUZLON stock has delivered a remarkable return of 1198.81%.

Karur Vysya Bank Ltd

Rs.207.48/-

Karur Vysya Bank’s Financial Growth and Dividend Hike

• Karur Vysya Bank posted a PAT of Rs. 459 crore for the June 2024 quarter, up from Rs. 359 crore year-on-year.
• Both Gross Non-Performing Assets (GNPA) and Net NPA showed quarter-on-quarter improvement.
• The bank announced an increased dividend payment for the current fiscal year.
• Over the past three years, KARURVYSYA stock has delivered an impressive return of 320.68%.

ITC Ltd

Rs.470.85/-

ITC’s Promising Future and Consistent Performance

• ITC has a stellar track record on Budget days, delivering positive returns nine out of ten times.
• Prabhudas Lilladher increased its weight on ITC by 50bps, anticipating a favorable cigarette taxation environment.
• Macquarie rated ITC as “Outperform,” citing strong EBIT growth in the cigarette segment due to market leadership and innovation.
• Over the last three years, ITC shares have provided a return of 129.25%.

Shriram Finance Ltd

Rs.2,747.70/-

Shriram Finance Anticipates Budget Focus on Infrastructure and MSMEs

• Shriram Finance anticipates the Union government’s upcoming budget to prioritize infrastructure development and the MSME sector.
• Emphasis on logistics infrastructure is expected to enhance the affordability and global competitiveness of Indian manufacturing.
• Over the past year, SHRIRAMFIN stock has delivered a return of 56.48%.

United Spirits Ltd

Rs.1,288.10/-

United Spirits Set to Announce Quarterly Earnings

• United Spirits Ltd is scheduled to release its quarterly earnings on July 23.
• Investors and analysts are keenly awaiting the financial results to gauge the company’s growth potential.
• The earnings report could influence the stock price of United Spirits Ltd.
• Over the past year, UNITDSPR stock has yielded a return of 32.74%.

Persistent Systems Ltd

Rs.4,739.95/-

Persistent Systems Shows Robust Q1FY25 Revenue Growth

• Persistent Systems reported Q1FY25 revenue of Rs 2,737 crore, marking a 17.9% year-on-year increase and a 5.7% sequential rise.
• The company secured total contract value deals worth $462.8 million, up from $447.7 million in Q4 FY24.
• PERSISTENT stock has delivered a return of 92.02% over the past year.

Mangalore Refinery and Petrochmcls Ltd

Rs.207.44/-

MRPL Q1FY25 Earnings Show Significant Profit Decline

• Mangalore Refinery and Petrochemicals Ltd (MRPL) reported a 93.53% year-on-year decrease in Q1 FY25 net profit, down to ₹65.57 crore.
• EBITDA dropped by 69.32% year-on-year, reaching ₹650.35 crore for June 2024.
• Revenue from operations, however, saw a 9.79% year-on-year increase, totaling ₹23,247.02 crore.
• Despite these mixed results, MRPL stock has delivered a return of 147.41% over the past year.

BCL Industries Ltd

Rs.62.73/-

BCL Industries Faces Rising Debt Concerns

• BCL Industries’ debt has risen to ₹4.76 billion as of March 2024.
• The company has ₹3.48 billion in liabilities due within the next 12 months and ₹2.79 billion due beyond that.
• With limited cash reserves, BCL’s increasing debt levels pose a significant risk.
• Despite the debt challenges, BCLIND has delivered an impressive 318.94% return over the past five years.

J K Cement Ltd

Rs.4,454.35/-

JK Cement Reports Impressive Q1FY25 Earnings

• JK Cement’s consolidated net profit for Q1FY25 surged by 67% year-on-year to Rs. 184.82 crore.
• Revenue from operations increased by 1.62%, reaching Rs. 2,807.57 crore.
• Following these strong results, brokerage firms have raised target prices for the stock.

Over the past year, JKCEMENT has delivered a return of 36.11%.

RPG Life Sciences Limited

Rs.1,928.10/-

RPG Life Sciences Shines in Q1

• RPG Life Sciences posted Q1 net sales of ₹165.42 crore, marking an 11.94% increase year-on-year.
• Net profit surged to ₹26.76 crore for June 2024, up by 21.09% from last year.
• Earnings Per Share (EPS) climbed to ₹16.18, compared to ₹13.36 in June 2023.
• Remarkable 830.71% return over the past 5 years.

Cyient DLM Ltd

Rs.743.30/-

Cyient DLM Sees Robust Q1 Performance

• Cyient DLM’s Q1 net profit nearly doubled to ₹10.5 crore year-over-year.
• Revenue surged 18.7% to ₹257.8 crore.
• Growth primarily driven by strong performance in defence and aerospace sectors, mitigating industrial sector weaknesses.
• Notable 54.42% return over the past year.

Jana Small Finance Bank Ltd

Rs.661.30/-

Jana Small Finance Bank Delivers Impressive Q1 Results

• Net profit surged 89-90% year-over-year to ₹171 crore for Q1 FY25.
• Total deposits climbed 41% YoY, reaching ₹23,710 crore.
• Advances increased 25% YoY to ₹25,759 crore.
• Strong results are likely to enhance investor confidence and drive future revenue growth.
• JSFB achieved an 82.41% return in the past year.

Vedanta Ltd

Rs.428.40/-

Vedanta Secures Funding and Mineral Assets

• Vedanta Ltd secured ₹85 billion through a Qualified Institutional Placement (QIP), with key investments from Abu Dhabi Investment Authority and Goldman Sachs AMC.
• The company was selected as the preferred bidder for two significant mineral blocks in Karnataka and Bihar.
• Notable 62.11% return over the past year.

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Source: Google

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