Stock Market News: August 22, Top Stocks Expected to Surge

Exploring Lucrative Investment Prospects in the Indian Stock Market on August 22, 2024

INDIAN STOCKS IN FOCUS AT STOCK MARKET

Zomato Ltd

• Technology  | Large Cap
• Rs.259.50/-

Ola electric mobility Ltd

• Automobile | Mid Cap
• 131.67/-

Jubilant FoodWorks Ltd

• Miscellaneous | Large Cap
• Rs.79.15/-

Reliance Industries Ltd

• Energy | Large Cap
• Rs.2,987.90/-

BEML Ltd

• Industrials | Small Cap
• Rs.3939.90/-

Indusland Ltd

• Financial services  | Mid Cap
• Rs.1,388.25/-

Castrol India ltd

• Basic Materials  | Small Cap
• Rs.271.55/-

Deepak Fertilizers & Petrochemicals corp Ltd  

• Basic Materials | Small Cap
• Rs.1,068.95/-

Bharti Airtel Ltd

• Communication Services | Large
• Rs.1,481.95/-

Hindustan Petroleum Corporation Ltd

• Energy | Mid Cap
• Rs.409.25/-

RBL Bank Ltd

• Financial Services | Large Cap
• Rs.233.40/-

Shriram Properties Ltd

• Realty | Small Cap
• Rs.128.84/-

Indian Renewable Energy Development Agency Ltd

• Finance | Mid Cap
• Rs.255.10/-

Indian Railway Finance Corp Ltd

• Financial Services | Large Cap
• Rs.179.90/-

Tata Consultation Services Ltd

• Technology | Large Cap
• Rs.4,532.65/-

State Bank of India

• Financial Services | Large Cap
• Rs.815.18/-

Chambal Fertilisers & Chemicals Ltd

• Basic Materials |Small Cap
• Rs.541.00/-

Vodafone Idea Ltd

• Communication Services | Large Cap
• Rs.16.07/-

Maruti Suzuki India Ltd

• Consumer Cyclical | Large Cap
• Rs.1,2240.20/-

Kalyan Jewellers India Ltd

• Consumer Cyclical | Mid Cap
• Rs.581.95/-

Mazagon Dock shipbuilders Ltd

• Industrials | Mid Cap
• Rs.4,482.85/-

HDFC Bank Ltd

• Financial Services | Large Cap
• Rs.1,632.05/-

Tata Motors Ltd

• Consumer Cyclical | Large Cap
• Rs.1,076.30/-

Infosys Ltd

• Technology | Large Cap
• Rs.1,884.45/-

Rail Vikas Nigam Ltd

• Real Estate | Large Cap
• Rs.571.35/-

 PNB Housing Finance Bank

• Financial Services | Large Cap
• Rs.866.00/- 

Adani Wilmar Ltd

• Edible Oil  | Mid Cap
• Rs.115.75/-

Interglobe Aviation Ltd

• Industrials | Large Cap
• Rs.4,447.45/-

Vedanta Ltd

• Basic Materials | Large Cap
• Rs.458.80/-

Reliance Power Ltd

• Utilities | Small Cap
• Rs.36.68/-

Axis Bank

• Financial Services | Large Cap
• Rs.1,175.80/-

Trending Top Stories in Indian e-Commerce, Fashion , Food & Entertainment

1. Estee Lauder Projects Dismal Annual Forecasts; CEO Fabrizio Freda to Step Down

Estee Lauder, one of the biggies in the global beauty industry, recently came out with an annual projection that is nothing short of a shocker. The brand has forecasted profits and sales far below the projections that the market analysts has. According to the company, the slump is in business is driven by weaker demand for beauty products in the world market, especially in China. Further, the company declared that Fabrizio Freda, its Chief Executive for, almost 16 years now, is to go on retirement by June this year.

Freda, who took over as CEO in 2009, had moved aggressively to expand the company’s skincare portfolio by acquiring brands like Dr. Jart and Deciem, the owner of The Ordinary. He also managed to steady the company last year through supply chain issues arising from the pandemic, which had pushed up prices to mitigate increased costs. Just last year, Freda introduced a turnaround plan that included significant job cuts.

It comes shortly after the announcement by Chief Financial Officer Tracey Travis that, after 12 long years at the company, he will be stepping down. Estée Lauder has already begun the process of searching for the successor to Freda, including considering both internal and external candidates.

Dana Telsey, senior research analyst at Telsey Advisory Group, called Freda’s departure not much of a surprise : his exit had been expected for some time, given the company’s performance over the past several years and the need new leadership. Most of it is because of flat inflation and dawdling demand, mainly from china.

In a post-earnings call, Travis was quoted saying he was “optimistic that profits will see a rebound in fiscal 2025 on the back of the turnaround plan and momentum outside China in markets such as the Americas, Asia-Pacific and Europe.” Still, the company’s sales forecast for the year packed in a cautionary stance, with anticipated figures lying between a fall of 1% and gain of 2% from the previous period against analyst hopes for a rise of 6.4%.

The problems of Estee Lauder mirror larger trends in the beauty industry, where even ‘recession-proof’ products such as luxury lipsticks and perfumes face sagging demand.

2. Taiwan’s Bestec Group to invest Rs 200 crore in Karnataka, create 5,000 jobs

In a major development likely to take place on the industrial map of Karnataka, Taiwan-based Bestec Group has announced Rs 200 crore worth of investment to set up a manufacturing unit near Bengaluru. The investment is expected to provide employment to at least 5,000 people.

Minister Patil visited Bestec Group Chairman Mike Chen and Vice-Chairman Teresa Dong and said the state government would support their plans while also assuring that the new facility would be one of the biggest investments in the state that would propel the industrial growth of Karnataka and underline the state’s growing interest as a destination for international investment.

3. Summercool Gets New Manufacturing Plant in Prayagraj

Having reigned as one of the most popular names in the household and kitchen appliances sector, Summercool is set to increase production capacity with a new regime in place at the facility in the Naini Industrial Area of Prayagraj. The unit, covering 5,000 square meters and built at an initial investment of around Rs 10 crore, is to give direct employment to about 100–150 employees.

Besides its surrounding areas, including Bihar, Bengal, Jharkhand, and Nepal, the new setup will serve the increasing demand for products of Summercool in Uttar Pradesh. The state government has promised logistical and infrastructural support to the new investment proposal, and Nand Gopal Gupta is clearly committed to the efforts toward industrial growth in the region.

Construction of the Prayagraj plant will be completely finished within the next 1-2 years, with operations immediately beginning afterward. Summercool sees investment in the facility continuing with expanded capacity and wider ranges of products to keep the lead in manufacturing standards.

Sanjeev Kr Gupta, Managing Director, Summercool said, “We aim to make this plant the global standard for quality and organizational practices. This is a step in the company’s commitment to growth and innovation.” He further added that the new capacity addition will not only reinforce the company’s strong presence in Uttar Pradesh but will also further aid in cutting costs of logistics that will congregate with the company’s dedicated vision of penetrating untapped markets.

4. Godrej Interio to Open 10 New Kitchen Specialty Outlets by FY 2025

Godrej Interio, the leading home and office furniture division of Godrej & Boyce, has planned to expand its footprint with 10 new kitchen specialty retail outlets across India by the close of fiscal year 2025. The company has opened two new stores located in Kokapet and Tellapur, in Hyderabad.

These new stores are part of the broader strategy to invest in an expansion mode that includes growing by at least 20% in the next three years with an aim to reach Rs 25 crore in revenue for states and Rs 50 crore for the Southern zone for Godrej Interio. It is an addition to the previous stance of expanding and strengthening its brand.

The company manufactures the best quality furniture for home and office ranges; it has its presence felt in more than 450 cities across Stark India. Operating 450 exclusive Godrej Interio showrooms, alongwith 520 dealer outlets, and a network of seven state-of-the-art manufacturing facilities. The company’s growth story continues to illustrate that Godrej flexes its muscles hard enough to quench the unending thirst of the customers and make them proud to own home and commercial spaces.

5. Decathlon to Invest Rs 930 Crore on Expansion and Innovation in India

Decathlon, a French global sports retail giant, is set to make an extra investment of 100 million euros or Rs 930 crore in the next five years in India. The invested sum is a part of Decathlon’s commitment toward becoming a better leader as a global sports brand in India.

The fresh proceeds will be channelled into expanding stores, increasing the digital assets and strengthening the value chain of Decathlon. The target for Decathlon is to have about 190 stores in over 90 towns, Tier I, and Tier II towns.

Speaking on the sidelines, Decathlon CEO for India Sankar Chatterjee explained that the company was actively participating in the “Make in India” program and targeted 85% of its products to be manufactured locally by the year 2029. Currently, Decathlon sources for India 8% of the purchased quantity, while 60% of all sales in India are from locally produced products.

Decathlon is heavily investing in technology to improve the customer experience through digital transformation and the implementation of technologies such as AI, ML, and RFID. The company recently introduced a new brand identity, including a refreshed logo, to be rolled out in 43 out of its 127 stores in a modernization drive.

6. FSSAI: Deadline for Phasing Out 100% Fruit Juice Packaging Extended

The Food Safety and Standards Authority of India has extended the previous deadline given to food business operators to utilize all pre-printed packaging material carrying claims “100% of apple/orange/mango juice” in their products. The new deadline granted is December 31, 2024. Food business operators must strictly adhere to the revised labeling standards by this deadline.

The FSSAI had, earlier this year, ordered that such misleading declarations regarding the juice percentage in the food product would have to be removed from advertisements and product labels. The decision to extend the deadline has been taken on recommendations after several consultations with industry stakeholders.

Under the new regulations, products labelled as containing 100 per cent fruit juice must indicate if they are reconstituted from concentrate. Additionally, the presence of any added sweeteners should be clearly labelled. This is part of FSSAI’s broader effort to clamp down on misleading marketing and to see that consumers get to know the right information about whatever they purchase.

7. Zappfresh Acquires Bonsaro, Eyes Expansion in Western India

Leading online direct-to-consumer (D2C) meat brand Zappfresh has acquired Mumbai-based company Bonsoro for poultry, goat, and seafood home delivery. This acquisition represents the first major step by Zappfresh in establishing operations in western India, more specifically in the Mumbai market.

With this acquisition having been completed, Zappfresh has fully-secured assets and operations of Bonsaro’s and therefore offers the best chance for the company to squarely enhance quality service, hygiene standards, and product range. Therefore, ZappFresh shall continue to invest and build Bonsaro’s existing business and geographical territory and shall begin operating in the new geographical market like Navi Mumbai and Pune within the next one year.

Having turned profitable two years back, Zappfresh expects to achieve revenues of INR 160 crores in the fiscal year FY24-25, which goes on to show disciplined brand growth with strong investor support.

8. Stone Sapphire India Pvt Ltd Appoints Shobhit Singh as CEO

Stone Sapphire India Pvt Ltd is a leading manufacturing and distribution company and has announced the appointment of Shobhit Singh as the new Chief Executive Officer (CEO) of the company. Having been elevated from the Director’s position, the rationale behind making Singh the CEO is one of the strategies to help the company consolidate market share and further assess the market potential across different sectors.

He comes with a rich past experience along with a visionary approach, which he brings in his new role. He is expected to lead the team in making Stone Sapphire India Pvt Ltd the largest iconic distribution brand in the world, where value-added products in assortments are concerned.

This brand is synonymous with so many products, including toys, stationery, home décor, and much more. The brand aimed to expand its portfolio to fast-moving consumer goods (FMCG) and other home categories. The company will strategically switch to have a bigger footprint on the Indian retail market to bring to life brands that resonate with value and relevance to the people.

Stone Sapphire India Pvt Ltd also concentrating on the enhancement of the distribution network, and the recent expansions include opening a fresh office in Noida and depots in Delhi and Bangalore.

9. Bagzone Lifestyles Pvt Ltd Launches Lavie Signature, an Online-Only Brand

Parent behind popular brands like ‘Lavie” and “Lavie Luxe,” Bagzone Lifestyles Pvt Ltd is all set to launch a new online-exclusive brand, Lavie Signature. Positioned over the hugely popular Lavie, but below the premium one Lavie Luxe, Lavie Signature is created to offer style in bags at affordable prices.

With a price bracket ranging between INR 2,000 and 3,500, Lavie Signature comes with a bag made of premium PB fabric with the top-caliber metal hardware available in the market, hence giving a rich look to the bags and ensure sustainability. The brand’s design features include monogram logos, color block patterns, quilting and many more, all releasing the new wave in modern fashion.

This was a strategic move from the brand, highlighting the fact that demand for mid-range premium products has been on the rise in the digital shopping space. While being launched on Myntra currently, the brand will next be launched on many other e-commerce platforms.

10. Amul is the World’s Strongest Food Brand

In that regard, Amul has again emerged as the strongest food brand in the world according to Brand Finance, a leading brand valuation consultancy. This has been the fourth consecutive year of Amul becoming titled as the strongest dairy brand in the world.

It’s on the performance of familiarity, consideration, and recommendation metrics that Amul is seen now gaining the number one spot. In the listing published by Brand Finance, in their top 50 global brands list, there’s not a single Indian brand to be seen there other than Amul.

Gujarat Cooperative Milk Marketing Federation – Amul, marketed by the Gujarat Cooperative Milk Marketing Federation, is today the largest farmer-owned cooperative in the world, marketing procurement of 11 billion liters of milk per annum. Products of Amul reach the people 22 billion times in a year, and it has emerged as one of the most recognized and trusted food brands in the world.

11. Third Wave Coffee, Riskcovry Chosen for IIMA Ventures’ People and Culture Accelerator

IIMA Ventures— formerly IIMA-CIIE —has announced the cohort for the People and Culture Accelerator Program, with eight startups selected to participate in the three-month program that includes companies like Third Wave Coffee and Riskcovry.

It helps startups fill the people-strategy and culture gaps in the areas of talent acquisition, leadership development, diversity and inclusion, and organizational change management. The participants will be mentored and coached for executable strategies and tools to scale their businesses successfully.

12. Udaan Ties with Ministry of Food and Public Distribution, and SIDBI to Transform Fair Price Shops

B2B e-commerce platform Udaan has now joined hands with the Ministry of Consumer Affairs, Food and Public Distribution, in association with the Small Industries Development Bank of India, to change the whole game of fair price shops (FPS) into Jan Poshan Kendras, further bound to increase the income of dealers associated with FPSs and increasing the product portfolio for such shops.

The partnership will give Jan Poshan Kendras access to the Udaan platform, which currently undersells more than 3,500 products in a wide range of staples and FMCG categories. The pilot program is underway with 60 selected fair price shops in Rajasthan, Uttar Pradesh, Telangana, and Gujarat.

SIDBI will provide credit facilities to these Jan Poshan Kendras so they can procure food grains and FMCG  products. In the case of its success, this initiative will technologically transform about 1.3 lakh Jan Poshan Kendras in the country.

13. Zappfresh Acquires Bonsaro, Approves Antiracist Strategy to Strengthen Western India Presence

Leading online D2C meat brand Zappfresh has acquired Mumbai-based poultry, goat, and seafood delivery start-up Bonsaro. This acquisition will further beef up Zappfresh’s presence in Mumbai by increasing the range of products and customer service.

It can now use the expertise Bonsaro brings—along with the customer base in Pune—to expand to newer markets like Navi Mumbai within the next year. The business will also invest in Bonsaro’s operations and resources, which are at the core of its profitability, while at the same time maintaining its level of service quality with hygiene and other quality attributes at the top level.

Zappfresh, which has been profitable over the last two years, is eyeing INR 160 crore revenue in FY24-25 and is looking at its disciplined expansion alongside strong investor backing.

These are the top stories illustrating the story landscape of Indian ecommerce, fashion, food, and entertainment, churning out huge investments, strategic expansions, and innovation across sectors. The growing and evolving companies are bound to define the future trajectory for their industries in India as a whole.

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Source: Google

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