Exploring Lucrative Investment Prospects in the Indian Stock Market on July 24, 2024
Schaeffler India Ltd
Rs.4,045.20/-
Schaeffler India Shows Promising Financial Growth in Q1 FY25
- Schaeffler India achieved a 3.5% year-on-year growth in net profit, reaching ₹245.4 crore for Q1 FY25.
- Revenue from operations surged by 15.2%, amounting to ₹2,106.8 crore, compared to the same period last year.
- EBITDA margin stood at 17.9% in Q1 FY25, slightly down from 18.7% in the previous fiscal’s corresponding quarter.
- Over the past five years, Schaeffler India has delivered an impressive return of 358.68%.
Indraprastha Gas Limited
Rs.545.50/-
IGL Issues Alert on Fraudulent Activities Targeting PNG Users
- Indraprastha Gas Ltd. (IGL) has issued a warning to customers about a scam targeting PNG users.
- Customers are advised to pay their bills exclusively through the official IGL website.
- The alert aims to prevent fraudsters from deceiving customers with threats of disconnecting gas supplies due to alleged outstanding bills.
- Over the past year, IGL has provided a return of 15.73%.
South Indian Bank Ltd
Rs.27.05/-
South Indian Bank to Discuss Equity Shares Issuance
- South Indian Bank is set to raise funds through the issuance of equity shares.
- The proposal will be reviewed during a board meeting scheduled for July 30.
- ICICI Securities recommends purchasing South Indian Bank shares with a target price of INR 34.
- Over the past three years, South Indian Bank has delivered a return of 138.32%.
Dr Reddy’s Laboratories Ltd
Rs.6,806.05/-
Dr. Reddy’s Laboratories Mulls Historic Stock Split
- Reddy’s Laboratories is set to deliberate on a stock split proposal during the upcoming board meeting on July 27.
- This event marks the first-ever split of its equity shares as a public company.
- The company has achieved a 25.58% return over the past year.
Spicejet Ltd
Rs.57.98/-
SpiceJet to Bolster Finances with Rs 3,000 Crore QIP
- SpiceJet is planning to raise Rs 3,000 crore through the issuance of securities via Qualified Institutional Placement (QIP).
- The funds will be utilized to reduce debt and strengthen the airline’s balance sheet.
- This financial move is anticipated to enhance SpiceJet’s financial health and boost investor confidence.
- Over the past year, SpiceJet Ltd has delivered an impressive return of 85.48%.
Federal Bank Ltd
Rs.196.20/-
Federal Bank Welcomes New CEO Krishnan Venkat Subramanian
- Krishnan Venkat Subramanian appointed as the new MD & CEO of Federal Bank, starting from September 23, 2024, for a three-year term.
- Analysts foresee a further re-rating as the stock has surged over 27% this year.
- Nomura and Kotak Securities regard this leadership change positively, resolving uncertainty around management succession.
- Federal Bank has provided a 44.03% return over the past year.
Vedanta Ltd
Rs.437.65/-
Vedanta Ltd to Evaluate Second Interim Dividend
- Vedanta Ltd will discuss a second interim dividend for FY25 on July 26.
- The record date for this dividend is set for August 3.
- The company’s recent equity offering and acquisition of distressed power assets indicate strong growth intentions despite regulatory hurdles.
- Over the past year, Vedanta Ltd has delivered a return of 65.41%.
United Spirits Ltd
Rs.1,400.45/-
United Spirits Sees Growth in Q1 FY25 Earnings
- United Spirits reports a 1.7% year-on-year increase in consolidated net profit, reaching Rs 485 crore for Q1 FY25.
- Consolidated revenue from operations rose by 3.5%, totaling Rs 2,761 crore.
- The company’s gross margin improved to 44.5%, up by 85 basis points compared to the same period last year.
- Over the past year, United Spirits Ltd has provided a return of 33.8%.
Icici Prudential Life Insurance Comp Ltd
Rs.682.00/-
ICICI Prudential Life Insurance Posts Strong Q1 FY25 Results
- ICICI Prudential Life Insurance reports an 8.7% year-on-year increase in net profit, reaching Rs 225 crore for Q1 FY25.
- The value of new business (VNB) grew by 7.8% to Rs 472 crore, though the VNB margin fell to 24%.
- Annual premium equivalent (APE) saw a 34.4% rise, totaling Rs 1,963 crore.
- Over the past year, ICICI Prudential Life Insurance has provided an 11.15% return.
Torrent Pharmaceuticals Ltd
Rs.3,046.00/-
Torrent Pharma Sees Strong Earnings Surge
- Q1 FY25 Performance: Torrent Pharmaceuticals reports a net profit surge of 20.1% year-on-year, totaling ₹457 crore.
- Revenue Growth: Revenue climbs 10.3% to ₹2,859 crore, with EBITDA up by 14.3% to ₹904 crore.
- Domestic Market: Revenue from Indian operations grows 10% YoY, reaching ₹1,635 crore.
- Stock Performance: TORNTPHARM has delivered a notable 56.09% return over the past year.
Hindustan Unilever Ltd
Rs.2,723.15/-
HUL Reports Steady Profit Amid Slowing Revenue Growth
- Q1 FY25 Earnings: Hindustan Unilever posts a net profit of ₹2,538 crore, aligning with market expectations.
- Revenue Impact: Slower revenue growth attributed to price reductions in the personal care segment.
- Volume Growth: Underlying volume growth at 4%, with a slow rebound in rural demand.
- Stock Performance: HINDUNILVR has generated a 6.01% return over the past year.
Bajaj Finance Ltd
Rs.6,558.85/-
Bajaj Finance Reports Robust Profit Growth
- Q1 FY25 Earnings: Bajaj Finance’s net profit reaches ₹3,912 crore, marking a 14% increase from the previous year.
- Interest Income: Net interest income (NII) rises 25% YoY to ₹8,365 crore.
- Provision Costs: Loan losses and provisions total ₹1,685 crore, up 69.34% YoY.
- Long-Term Performance: BAJFINANCE has achieved a remarkable 110.08% return over the past five years.
Tata Consumer Products Ltd
Rs.1,224.00/-
Tata Consumer Launches Significant Rights Issue
- Rights Issue Announcement: Tata Consumer Products Ltd plans a rights issue to raise up to ₹3,000 crore.
- Issue Details: The rights issue is priced at ₹818 per share, with a record date set for July 27.
- Purpose: The move aims to bolster the company’s financial strength and may open doors for future growth.
- Stock Performance: TATACONSUM has delivered a 39.59% return over the past year.
Axis Bank Ltd
Rs.1,242.10/-
Axis Bank Anticipates Strong Q1FY25 Growth
- Axis Bank is set to report robust double-digit growth for Q1FY25.
- Profit is projected to rise by 13% year-over-year, reaching Rs 6,576 crore.
- Net Interest Income (NII) is expected to increase by 12% YoY, totaling Rs 13,361 crore.
- This growth is attributed to healthy loan expansion.
- Over the past year, AXISBANK has delivered a 32.01% return.
Larsen and Toubro Ltd
Rs.3,533.95/-
L&T Poised for Impressive Q1 Results
- L&T is set to report solid growth in Q1 revenues and profit.
- Revenue is expected to rise by 8% year-over-year.
- Net profit is estimated to increase by 11% YoY for the quarter ending June.
- Growth driven by robust energy and services sectors.
- The company’s order book stands at Rs. 4.76 lakh crore, ensuring revenue stability for the next 1-2 years.
- L&T has delivered a remarkable 126.55% return over the past three years.
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Source: Google
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of News Lounge 24×7. We advise investors to check with certified experts before taking any investment decisions.