Buzzing Stocks: Titan, Maruti Suzuki, TVS Motor, Power Grid, Ashok Leyland & others in focus

Results on August 2: Titan Company, Ambuja Cements, Hindustan Petroleum Corporation, InterGlobe Aviation, Mankind Pharma, Godrej Properties, Aditya Birla Capital, Adani Wilmar, Engineers India, Firstsource Solutions, Fusion Micro Finance, Gateway Distriparks, Gujarat Gas, Indian Overseas Bank, Metropolis Healthcare, Narayana Hrudayalaya, Quess Corp, Sapphire Foods India, Sheela Foam, Strides Pharma Science, Vaibhav Global, and VIP Industries will be in focus ahead of quarterly earnings on August 2.

Sterling and Wilson Renewable Energy: The company has received a limited notice to proceed with an engineering, construction and procurement order worth Rs 360 crore for a project in India. This is in addition to the new order value of Rs 466 crore that the company reported in Q1 FY24.

Maruti Suzuki India: The country’s largest car maker has announced production of more than 1.86 lakh vehicles in the month of July 2023, up nearly 1 percent over production of 1.85 lakh vehicles in same period last year. This data included production by Suzuki Motor Gujarat. Maruti is going to acquire a 100% stake in Suzuki Motor Gujarat from Suzuki Motor Corporation.

TVS Motor Company: The two-and-three-wheeler company has recorded sales volume at 3.26 lakh units for July 2023, which came in slightly above analysts’ estimates, increasing by 4% compared to the year-ago month. Two-wheeler sales volume rose 4% YoY to 3.12 lakh units, while electric vehicle sales doubled to 13,306 units against 6,304 units during the same period. Domestic two-wheeler sales grew by 17% YoY to 2.35 lakh units, but total exports dropped 20.4% to 89,213 units during the same period.

Power Grid Corporation of India: The state-owned electric services company has received board approval for implementation of 85 MW solar PV power project at Nagda in Madhya Pradesh. The estimated cost of the project is Rs 554.91 crore.

Ashok Leyland: The country’s second-largest commercial vehicle maker has announced sales of 15,068 units for July 2023, better than analysts’ estimates, rising 10.6% over the corresponding period last year. Medium and heavy commercial vehicle sales increased by 17% to 9,571 units, and light commercial vehicle sales rose by 0.4% to 5,497 units during the same period.

Hero Motocorp: The leading two-wheeler manufacturer told exchanges that officials from the Enforcement Directorate visited two of its offices in Delhi and Gurugram, and the residence of Executive Chairman, Pawan Munjal. The company continued to extend all cooperation to the agency.

RITES: Krishna Gopal Agarwal has assumed the charge of Director/ Finance and Chief Financial Officer of the company with effect from August 1.

DLF: Promoter Kushal Pal Singh has sold his entire 1.45 crore shares, which is equivalent to 0.59% of paid-up equity, via open market transactions, at an average price of Rs 504.21 per share. The stake sale was worth Rs 730.87 crore.

Eicher Motors: The automobile company has announced sales volume data of its Royal Enfield. Total sales grew by 32% year-on-year to 73,117 motorcycles, driven by domestic sales which surged 42% YoY to 66,062 units, but exports dropped 22% to 7,055 units during the same period.

SML Isuzu: The commercial vehicle manufacturer has registered sales at 1,250 units for July 2023, increasing by 23% compared to 1,020 units in corresponding period last year, led by passenger vehicle sales which surged 34% YoY to 936 units, but cargo vehicle sales declined 2% to 314 units during the same period.

Thermax: The energy and environment solutions provider has reported a 0.1% year-on-year decline in consolidated profit at Rs 58.88 crore for quarter ended June FY24 despite strong operating numbers, & topline, dented by provisions of Rs 50.63 crore related to litigation. Revenue from operations jumped 16.83% YoY to Rs 1,933 crore in Q1FY24. The order balance for the quarter was Rs 10,505 crore, up by 10% from the corresponding quarter. The order booking for the quarter was 11% higher at Rs 2,567 crore YoY.

SAT Industries: Subsidiary Aeroflex Industries has received clearance from SEBI for its initial public offering (IPO), which is subject to submission of requisite documents as per the final observation letter dated July 31.

Sula Vineyards: The country’s leading wine maker has receives excise duty notice of Rs 115.9 crore from Maharashtra State Excise Department. The order does not affect the existing business or the activities of the company.

Metro Brands: The footwear retailer has reported consolidated profit at Rs 93.5 crore for the quarter ended June FY24, falling 11.6% compared to year-ago period, impacted by weak operating margin. However, revenue from operations increased 14.7% year-on-year to Rs 582.52 crore during the same period.

Cholamandalam Investment and Finance Company: The non-banking finance company has registered a 26.3% year-on-year growth in consolidated profit at Rs 710 crore for June FY24 quarter. Revenue from operations jumped 47.4% to Rs 4,082 crore compared to year-ago period. The company has received board approval for issue of non-convertible debentures up to Rs 38,000 crore on private placement basis, and issue of equity shares up to Rs 4,000 crore via QIP.

Brookfield India REIT: The board of directors of Brookprop Management Services, the manager to Brookfield India REIT will meet on August 4 to consider fund raising options, including through preferential issue of units or debt.

Som Distilleries & Breweries: The company has received the approval for supply of Indian Made Foreign Liquor (IMFL) brands in Rajasthan. This portfolio will have a meaningful impact on the topline and bottomline of the company in the medium term.

Bikaji Foods International: The ethnic snacks manufacturer has recorded profit of Rs 41.4 crore for June FY24 quarter, rising 163.8% over a year-ago period on strong operating performance. Revenue grew by 15% YoY to Rs 482.1 crore during the same period.

Solara Active Pharma Sciences: Rajeev Singh has resigned as Chief Human Resource Officer of the company with effect from August 31. Pagadala Srinivasan has been appointed as Chief Human Resource Officer with effect from August 1.