Stock Market News: August 5, 2024, Top Stocks Expected to Surge

Exploring Lucrative Investment Prospects in the Indian Stock Market on August 5, 2024

Bharti Airtel Ltd

Rs.1,459.60/-

Bharti Airtel: Anticipated Strong Q1FY25 Earnings and Dividend

• Bharti Airtel is projected to report a net profit of Rs 3,661.4 crore for Q1 FY25.
• The company has declared a dividend of Rs 8 per share for FY24.
• Analysts expect a 2.6% YoY revenue growth, supported by steady performance in both African and Indian markets.
• Bharti Airtel has delivered a 71.37% return over the past year.

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Aster DM Healthcare Ltd

Rs.365.00/-

Aster DM Healthcare Partners with Care Hospitals for Strategic Growth

• Aster DM Healthcare and Care Hospitals will collaborate next month, with support from private equity firm Blackstone.
• This partnership underscores Blackstone’s expanding healthcare ambitions, given its substantial stakes in both entities.
• The deal is anticipated to result in a premium valuation for Aster DM Healthcare, surpassing its current market cap of $2.27 billion.
• Aster DM has achieved a 127.75% return over the past three years.

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Infosys Ltd

Rs.1,728.00/-

Infosys Gains Relief as DGGI Closes GST Case

• Infosys received regulatory relief as the DGGI closed GST proceedings for FY 2017-18, involving Rs 3,898 crore.
• This closure is part of a larger tax dispute amounting to over Rs 32,000 crore from 2017 to 2022.
• Despite this relief, significant unresolved tax demands remain, which could impact future financials.
• Infosys has delivered a 33.49% return over the past year.

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Housing And Urban Development Corp Ltd

Rs.288.80/-

HUDCO: Impressive Financial Growth and Improved Asset Quality

• HUDCO’s stock surged 142% over the past year, demonstrating strong market performance.
• Net Interest Income increased by 9.6%, reflecting robust financial health.
• The net NPA ratio improved to 0.36%, indicating enhanced asset quality and effective management.
• HUDCO has delivered a remarkable 379.56% return over the past year.

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JSW Steel Limited

Rs.860.20/-

JSW Steel Surrenders Odisha Mining Lease Amid Operational Challenges

• JSW Steel has decided to surrender its mining lease for the Jajang iron ore block in Odisha due to uneconomic operations.
• The Jajang block was one of four leases acquired through an auction in 2020, underscoring significant operational challenges.
• This decision could impact JSW Steel’s resource availability and future production capabilities.
• JSW Steel has delivered an 11.82% return over the past year.

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GlaxoSmithKline Pharmaceuticals Limited

Rs.2,773.00/-

GlaxoSmithKline: Impressive Q1FY25 Earnings Growth

• GlaxoSmithKline Pharmaceuticals reported a 37.87% increase in consolidated net profit for Q1FY25, reaching Rs 182.33 crore.
• Consolidated revenue from operations stood at Rs 814.65 crore, reflecting strong year-over-year performance.
• Total expenses decreased to Rs 600.89 crore from Rs 634.42 crore in the same quarter last fiscal.
• GSK has delivered a 101.13% return over the past year.

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Mahindra and Mahindra Financial Svcs Ltd

Rs.289.15/-

Mahindra Finance: Steady Growth and Strong Performance

• Mahindra Finance reported Rs 4,530 crore in disbursements for July 2024, reflecting a 3% YoY growth.
• The company’s business assets reached Rs 1,07,300 crore, marking a 5% increase since March 2024 and a 22% rise from July 2023.
• Collection efficiency remained stable at 95%, showcasing strong operational performance.
• Mahindra Finance has delivered a 104.31% return over the past three years.

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Hindustan Zinc Ltd

Rs.612.10/-

Hindustan Zinc: Robust Q1FY25 Earnings Growth

• Hindustan Zinc Ltd reported a 19.3% rise in consolidated net profit for Q1FY25, reaching Rs 2,345 crore.
• The company’s income increased to Rs 8,398 crore, up from Rs 7,564 crore YoY.
• Higher EBITDA played a significant role in the improved financial performance.
• Hindustan Zinc has delivered a 104.9% return over the past year.

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Adani Energy Solutions Ltd

Rs.1,187.00/-

Adani Energy Solutions Secures $1 Billion Through QIP

• Adani Energy Solutions Ltd raised $1 billion through a qualified institutional placement (QIP), attracting over 120 investors.
• The QIP was oversubscribed six times, reflecting strong investor confidence in the company’s future prospects.
• The funds will primarily support significant capital expenditure plans to expand power transmission infrastructure.
• Adani Energy Solutions has delivered a 58.38% return over the past year.

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Savita Oil Technologies Ltd

Rs.579.10/-

Savita Oil: Income Growth and Share Buyback Announcement

• Savita Oil Technologies reported a quarterly income of Rs 956 crore, up from Rs 920 crore YoY.
• However, the company’s PAT decreased to Rs 40 crore compared to Rs 56 crore in the previous year.
• The board approved a buyback of shares not exceeding Rs 36.45 crore at Rs 675 per share.
• Savita Oil has delivered a 109.55% return over the past year.

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Trent Ltd

Rs.5,322.85/-

Trent Ltd Achieves New Market Cap Milestone

• Trent Ltd has surpassed a market capitalization of Rs 2 lakh crore.
• The company has seen a 15-20% increase in earnings estimates over the past three quarters.
• Its stock price skyrocketed from Rs 800 to Rs 6,000 in 18 months.
• Trent Ltd has delivered an impressive 228.2% return in the past year.

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Shriram Finance Ltd

Rs.2,896.65/-

Shriram Finance Emphasizes Business Loans

• Shriram Finance is transitioning personal loans to small business loans, following regulatory guidance.
• The company aims to register borrowers as businesses under UDYAM for priority sector lending benefits.
• Personal loans increased by 12.7% year-on-year, while MSME loans rose by 43.7%, highlighting a strategic pivot.
• Shriram Finance has delivered 64.54% returns over the last year.

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Bharat Forge Ltd

Rs.1,546.40/-

Bharat Forge Faces Challenges Amid Truck Order Decline

• Class 8 truck orders in North America hit a 15-month low of 12,400 units in July.
• Bharat Forge’s involvement in the Class 8 trucks market may be affected by the decrease in orders.
• The company announced a $40 million investment in its aluminum forging facility in the U.S.
• Despite challenges, Bharat Forge has achieved 82.23% returns over the past year.

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Tamilnad Mercantile Bank Ltd

Rs.459.80/-

Tamilnad Mercantile Bank Sees Strong Profit Growth

• Tamilnad Mercantile Bank reported a 9.97% year-on-year increase in net profit for Q1 FY2024, reaching Rs 287.29 crore.
• The profit growth is due to higher interest income, with total income rising to Rs 1,046.03 crore.
• The bank is in the process of submitting new candidates for the MD and CEO positions after previous rejections by the RBI, indicating management changes.
• Tamilnad Mercantile Bank has shown a slight decline of -0.04% in returns over the past year.

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LIC Housing Finance Ltd

Rs.685.60/-

LIC Housing Finance Q1 Results: Mixed Performance

• LIC Housing Finance’s PAT for Q1 June 2024 slightly declined to Rs 1,306 crore from Rs 1,319 crore year-on-year.
• Total income showed a marginal increase, reaching Rs 6,797 crore compared to Rs 6,759 crore YoY, indicating stable revenue.
• Asset quality improved significantly, with gross NPAs dropping to 3.29% from 4.98%, reflecting better loan performance.
• LIC Housing Finance has delivered 89.83% returns over the past year.

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