Buzzing Stocks: Bata, IRCTC, ZEE, Hero Moto and rate-sensitive stocks to be in focus

Results on August 10: Hero MotoCorp, Life Insurance Corporation of India, Grasim Industries, Ipca Laboratories, Biocon, Alkem Laboratories, Manappuram Finance, Allcargo Logistics, Apollo Tyres, Ashoka Buildcon, Avalon Technologies, Bajaj Electricals, Campus Activewear, General Insurance Corporation of India, Graphite India, Indiabulls Real Estate, Lemon Tree Hotels, Mazagon Dock Shipbuilders, Samvardhana Motherson International, MTAR Technologies, Page Industries, Pidilite Industries, Steel Authority of India, Spencers Retail, Suryoday Small Finance Bank, and Torrent Power will be in focus with their quarterly earnings lined up to be announced today.

Rate sensitive stocks: Banking and financial services, real estate, and auto will be in focus ahead of the outcome of the three-day Monetary Policy Committee meeting. The Reserve Bank of India will announce its interest rate decision and economic growth and inflation outlook on August 10.

Zee Entertainment Enterprises: The media and entertainment company has reported a 97% year-on-year decline in profit from continuing operations at Rs 3.87 crore for quarter ended June FY24, impacted by weak operating numbers and exceptional loss (Rs 70.6 crore against Rs 29.9 crore YoY). Revenue from operations at Rs 1,984 crore grew by 7.6% during the same period, with subscription revenue rising 18% driven by pick up in subscription revenue post NTO 3.0 and ZEE5, but domestic advertising revenues dropped 2.6% YoY. On the operating front, EBITDA dropped 42.3% on-year to Rs 154.9 crore with margin falling 680 bps to 7.8% for the quarter.

Axis Bank: The private sector lender has received approval from the board for capital infusion of Rs 1,612 crore in Max Life through preferential allotment. With this capital infusion, Axis Bank’s direct stake in Max Life will increase to 16.22% and the collective stake of Axis Entities increase to 19.02%. The bank will now enter into a Share Subscription Agreement with Max Life for proposed acquisition through subscription to the preferential issue of 14.25 crore equity shares, at a fair market value of Rs 113.06 per share.

Tata Power Company: The Tata Group company has registered consolidated profit at Rs 972.5 crore for the quarter ended June FY24, rising 22.4% over a year-ago period, backed by healthy operating performance, and exceptional gain (Rs 234.7 crore). Revenue grew by 5% on-year to Rs 15,213.3 crore and EBITDA rose by 43% to Rs 3,005 crore on sustained business growth across all clusters.

Eicher Motors: Eicher has announced collaboration with Amazon to scale electric truck deployment. The global e-commerce giant has committed to acquire 1,000 electric trucks from Eicher Motors. Of which, 50 trucks will be purchased by Amazon in the first phase for major hubs like Delhi, Manesar, & Gurugram, reports CNBC-TV18.

Angel One: The stock broking company has received board approval for the scheme of arrangement involving transfer of company’s business undertaking 1 to Angel Securities, and business undertaking 2 to Angel Crest. Both Angel Securities, and Angel Crest are subsidiaries of Angel One.

BSE: The country’s oldest stock exchange has recorded a consolidated profit of Rs 442.66 crore for the quarter ended June FY24, rising 10-fold over Rs 44 crore in year-ago period, driven by 5% stake sale in associate company CDSL, higher investment income and other income. Revenue for the quarter grew by 15.4% on-year to Rs 215.62 crore.

Bata India: The footwear major has reported consolidated profit at Rs 106.9 crore for June FY24 quarter, falling 10.5% compared to year-ago period, primarily on early start of end of season sale by industry and subdued operating numbers. Revenue from operations for the quarter at Rs 958.15 crore grew by 1.6% over a year-ago period.

Indian Railway Catering and Tourism Corporation: The state-owned railway company has recorded profit at Rs 231 crore for quarter ended June FY24, falling 7% compared to corresponding period last fiscal, impacted by exceptional loss (Rs 51.9 crore) and lower operating margin. Revenue from operations jumped 17.5% year-on-year to Rs 1,001.8 crore for the quarter.

Abbott India: The pharma company has registered profit at Rs 290.2 crore for quarter ended June FY24, rising sharply by 41.1% over a year-ago period, backed by healthy topline and operating performance. Revenue from operations for the quarter came in at Rs 1,479 crore, increasing 13.4% on-year.

MAS Financial Services: Basant Maheshwari Wealth Advisers LLP has bought 2.93 lakh equity shares or over half a percent stake in the financial services company via open market transactions at an average price of Rs 816.38 per share.

Sula Vineyards: The leading wine maker has recorded consolidated profit at Rs 13.68 crore for quarter ended June FY24, rising 24.4% over a year-ago period, driven by good topline and operating numbers. Revenue from operations grew by 17.7% on-year to Rs 108.5 crore in Q1FY24.

PI Industries: The agri-sciences company has registered a massive 46% on-year growth in profit at Rs 383 crore for quarter ended June FY24 on demand traction in CSM (custom synthesis manufacturing) exports, with strong operating numbers as well as topline. Revenue grew by 24% year-on-year to Rs 1,910.4 crore during the quarter.

Gati: Huafreed Farrokh Nasarwanji has resigned from the position of Chief Commercial Officer with effect from August 9.

Force Motors: The automobile company has reported consolidated profit at Rs 68.6 crore for quarter ended June FY24, against loss of Rs 16.6 crore in year-ago period. Revenue from operations for the quarter at Rs 1,487.5 crore increased by 53.2% over a year-ago period.

Bombay Dyeing and Manufacturing Company: The company has recorded consolidated loss of Rs 119.8 crore for quarter ended June FY24, widening from loss of Rs 76.8 crore in year-ago period. Revenue from operations fell by 17.87% on-year to Rs 498 crore due to lower polyester business and tepid growth in real estate segment. The company has received board approval for delisting of GDRs from The Luxembourg Stock Exchange, and termination of deposit agreement with Citibank N.A. for company’s GDRs.