Stock Market News: July 30, 2024, Top Stocks Expected to Surge

Exploring Lucrative Investment Prospects in the Indian Stock Market on July 30, 2024

Ashok Leyland Ltd

Rs.253.45/-

Ashok Leyland: Mixed Q1FY25 Results, Positive Outlook

• Ashok Leyland’s Q1FY25 results were not exceptional.
• Management remains positive about the commercial vehicle industry.
• The company maintained a double-digit EBITDA margin.
• Optimistic about the FY25 EBITDA margin outlook.
• Ashok Leyland stock has risen approximately 40% in 2024.
• Investors have seen 33.9% returns over the past year.
  

IDFC First Bank Ltd

Rs.76.00/-

IDFC First Bank: Q1 Performance Highlights

• IDFC First Bank’s Q1 net profit dropped 11% YoY to Rs. 680.65 crore due to increased provisions in the JLG business.
• Total income rose to Rs. 10,408 crore, compared to Rs. 8,282 crore.
• Interest income increased to Rs. 8,789 crore from Rs. 6,868 crore in Q1 2023-24.
• Gross NPA declined to 1.9% of gross advances by June 2024, down from 2.17% in June 2023-24.
• IDFCFIRSTB has delivered 79.47% returns over the past five years.

Coal India Ltd

Rs.523.55/-

Coal India: Boosting Coking Coal Supply and Production

• The government has begun monetizing Coal India’s old washeries.
• This initiative aims to increase the supply of washed coking coal for the steel industry.
• Domestic coal production is projected to grow 6-7% annually, potentially reaching 1.5 billion tonnes by 2029-30.
• Coal India Ltd has set an ambitious production target of 1,080 MT for FY 2024-25.
• The company has delivered a 122.4% return over the past year.

Indian Oil Corporation Ltd

Rs.184.81/-

Indian Oil: Upgraded to Buy with Strong Profit Prospects

• UBS has upgraded Indian Oil to a buy rating, increasing the price target by 17%.
• Analysts project a net profit of Rs 4,331 crore for the quarter ending June.
• Indian Oil benefits from the removal of anti-dumping duties on materials.
• The company has delivered an 88.32% return over the past year.

Mahanagar Gas Ltd

Rs.1,894.40/-

Mahanagar Gas: Buy Recommendation with Promising Outlook

• Anand Rathi advises buying Mahanagar Gas, setting a target price of Rs 2264.
• The company reported a consolidated total income of Rs 1701.41 crore for the quarter ending June 30, 2024.
• This marks a 2.70% increase from the previous quarter and a 9.84% YoY decline.
• Promoters hold a 65% stake, with FIIs owning 62.98% and DIIs holding 33.34%.
• MGL has provided a 65.08% return over the past year.

UltraTech Cement Ltd

Rs.11,669.00/-

UltraTech Cement Expands with Strategic Acquisition

• UltraTech Cement is set to acquire a 32.72% stake in India Cements for Rs 3,954 crore.
• This acquisition aims to enhance UltraTech’s presence in the southern cement market.
• It is expected to drive industry-leading volume growth and boost revenue.
• UltraTech has delivered a 40.33% return over the past year.

Hindustan Petroleum Corp Ltd

Rs.394.25/-

HPCL: Mixed Ratings Amid Weak Q1 Results

• HPCL reports a 90% YoY decline in Q1FY25 net profit, impacted by weak gross refining and lower marketing margins.
• Jefferies maintains an underperform rating, while Citi rates HPCL a buy with a Rs 420 price target.
• UBS upgrades HPCL to a buy, increasing the price target from Rs 333 to Rs 445.
• HPCL has delivered a 100.01% return over the past year.

Sbi Life Insurance Company Ltd

Rs.1,733.45/-

SBI Life Insurance: Strong Growth and Buy Recommendation

• Axis Securities recommends buying SBI Life Insurance with a target price of Rs 1955.
• The company reported a standalone total income of Rs 34,656.97 crore for the quarter ending June 30, 2024, marking a 24.20% YoY increase.
• Promoters hold a 10.82% stake, FIIs own 49.4%, and DIIs hold 31.74%.
• SBI Life Insurance has provided a 36.56% return over the past year.

CESC Ltd

Rs.173.15/-

CESC Expands Renewable Energy Portfolio with New Acquisition

• CESC Ltd acquires a 63.91% equity stake in Purvah Green Power for Rs 205 crore.
• This acquisition will make Purvah Green Power a direct subsidiary of CESC.
• The move is aimed at expanding CESC’s renewable energy business.
• CESC has delivered a 113.13% return over the past year.

NTPC Ltd

Rs.408.75/-

NTPC: Impressive Q1FY25 Performance with Mixed Analyst Ratings

• NTPC’s Q1FY25 net profit increased by 11% YoY to Rs 5,506 crore.
• Jefferies raised NTPC’s target price to Rs 485 from Rs 445.
• Kotak Institutional Equities issued a sell rating, citing that current valuations already reflect growth expectations.
• NTPC has provided an 81.5% return over the past year.

Route Mobile Ltd

Rs.1,658.75/-

Route Mobile: Promoters Strengthen Hold Amid Revenue Growth

• Promoters of Route Mobile Limited increased their stake from 57.99% to 83.11%.
• Revenue grew by 14.07% from Q1FY24 to Q1FY25.
• Profits fell from Rs 92 crore to Rs 81 crore during the same period.
• Shares are currently priced at Rs 1,628 per equity share.
• Route Mobile has achieved a 9.48% return over the past year.

Kansai Nerolac Paints Ltd

Rs.298.00/-

Kansai Nerolac Paints: Significant Drop in Q1 Net Profit

• Kansai Nerolac Paints reported a 68.7% YoY decline in Q1 net profit, reaching Rs 230.83 crore.
• Revenue from operations was slightly lower at Rs 2,133.06 crore.
• The company anticipates future growth in infrastructure, automobile, and real estate sectors to boost paint demand.
• Kansai Nerolac has delivered a -3.9% return over the past five years.

Jindal Saw Limited

Rs.642.10/-

Jindal Saw: Strong Q1 Results and Robust Growth

• Jindal Saw Ltd reported a YoY increase in net profit and revenue for Q1 FY25.
• EBITDA grew by 38.2% YoY to Rs 840 crore, achieving an EBITDA margin of 17%.
• The order book for iron and steel pipes and pellets stood at approximately Rs 165 crore.
• Jindal Saw has delivered an impressive 687.95% return over the past five years.

Power Grid Corporation of India Ltd

Rs.355.50/-

Power Grid Corporation of India Q1 FY25 Financial Highlights

• Power Grid Corporation of India reports a 3.52% year-on-year increase in consolidated net profit for Q1 FY25.
• The company plans to execute projects worth ₹65,000 crore over the next 2.5 years.
• Capex outlook stands at ₹2.07 lakh crore by financial year 2032.
• Investec upgrades Power Grid’s rating to Neutral from Sell and significantly raises its target for the PSU stock.
• POWERGRID has delivered 72.5% returns over the past year.

Colgate Palmolive (India) Limited

Rs.3,390.65/-

Colgate-Palmolive India’s Impressive Q1 FY25 Performance

• Colgate-Palmolive India reports a 33% year-on-year increase in net profit for Q1 FY25, surpassing analysts’ expectations.
• Revenue for the quarter rose by 13.1% year-on-year, reaching ₹1,497 crore.
• Rural market demand growth continued to exceed urban market growth for the second consecutive quarter.
• COLPAL has achieved a 56.74% return over the past year.

Also read: Delhi-NCR Torrential Rains Bring Up Alert for Mumbai and Other Regions

Top 15 Incredibly Beautiful Women from Across the World

Krystyna Pyszkova, Representing The Czech Republic, Crowned Miss World 2024!

Fashion Influencer Nancy Tyagi Makes History with Self-Stitched Outfit at Cannes Film Festival

Source: Google

Business Desk: News Lounge 24×7

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.