Stocks To Watch On July 25: The markets traded lackluster and ended slightly lower on Wednesday, continuing the ongoing consolidation phase. In today’s trade, shares of RBL Bank, Adani Green, Nestle, Tech Mahindra, L&T, VST Industries among others will be in focus due to various news developments and first quarter results.
Q1FY25 results on Thursday: Aavas Financiers, Adani Green Energy, Ashok Leyland, AU Small Finance Bank, Canara Bank, Chalet Hotels, Chennai Petrochem Corp, Cyient, DLF, Glenmark Life Sciences, Go Digital General Insurance, Home First Finance Company India, Jupiter Wagons, Jyothy Labs, Laurus Labs, MGL, Motilal Oswal Financial Services, Mphasis, Nestle India, PNB Housing Finance, Praj Industries, The Ramco Cements, Tech Mahindra, United Breweries, Ujjivan small finance Bank, UTI AMC, Venus Pipes and Tubes, and Westlife Foodworld are scheduled to report their Q1FU25 results today, July 25.
Axis Bank: Private lender Axis Bank reported a net profit of Rs 6,035 crore for the April-June quarter (Q1FY25). PAT was up just 4 per cent year-on-year, and down around 15 per cent quarter-on-quarter.
The lender’s loan loss provisions rose significantly during the quarter, coupled with weak asset quality. Axis Bank ADRs fell 4.5 per cent overnight in US markets.
Larsen & Toubro: Construction major L&T’s consolidated net profit for the June quarter rose 12 per cent to Rs 2,786 crore. It’s consolidated revenue increased 15 per cent to Rs 55,120 crore.
SBI Life: SBI Life Insurance clocked a 34.3 per cent Y-o-Y growth in net profit to Rs 519.52 crore during Q1FY25, backed by healthy growth in premiums. Its value of new business (VNB) increased 12 per cent Y-o-Y to Rs 970 crore during the quarter.
However, the company reported a contraction in VNB margin at 26.8 per cent in Q1FY25 compared to 28.8 per cent in the corresponding period last year.
V-Guard: The company reported a 54.11 per cent increase in consolidated net profit at Rs 98.97 crore for June quarter of FY25, aided by improvement in margins.
Indraprastha Gas: City gas distributor IGL saw an 8.63-per cent Y-o-Y decline in its standalone net profit for Q1FY25 to Rs 400.65 crore. It was up 5.5 per cent Q-o-Q. IGL’s total sales volumes rose 5.3 per cent in Q1 to 786 million standard cubic metres (scm), up from 746.2 million scm in the corresponding quarter of the previous year.
IDBI Bank: IDBI Bank’s Q1FY25 net profit surged 40 per cent Y-o-Y to Rs 1,719 crore as provisions and taxes were down 80 per cent Y-o-Y to Rs 356 crore in the quarter.
Other Q1FY25 result reactions: JK Paper, Hitachi Energy, Bikaji Foods, Oracle Financial, Karnataka Bank, IEX, Sona BLW, DCB Bank, MAS Financial Services, Jindal Steel and Power, Aditya Birla Sun Life AMC, Craftsman Automation.
RBL Bank: RBL Bank counter is expected to see a block deal today, July 25. Baring Private Equity Asia is reportedly looking to exit the lender by divesting its entire 7.9 per cent equity via open market transactions on Thursday.
Nestle India, Dr Reddy’s Labs: FMCG major Nestle India and pharmaceutical firm Dr Reddy’s Laboratories have joined hands to combine products of Nestlé Health Science with the nutraceutical portfolios of Dr. Reddy’s Laboratories. The joint venture will be called Dr. Reddy’s and Nestlé Health Science Ltd.
BSE: The Exchange has received Sebi’s approval to act as a research analyst and investment adviser administration body.
Sun Pharmaceutical: Sun Pharma has informed the exchanges that it had received a warning letter from the USFDA for its Dadra facility on June 19. Sun Pharma said it will work with the US drug authority to resolve the outstanding issues.
Rail Vikas Nigam: RVNL has received a Letter of Acceptance (LoA) from SER HQ-Electrical/South Eastern Railway for a project worth Rs 191.53 crore.
HG Infra Engineering: The Board of Directors has approved the sale or disposal of HG Rewari Bypass Private Limited, a wholly-owned subsidiary of the company.
Ircon International: The company informed the exchanges on Wednesday that the matter of dispute between Ircon International Limited and Hindustan Construction Company Limited has been closed in the Arbitration.
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