GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap down opening on Tuesday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded lower as the index was down 34.50 points or 0.14% at 24,620 indicating a lower start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 rose 85 points or 0.35% to settle at 24,587, while the BSE Sensex advanced 145 points or 0.18% to close at 80,665.

Stocks to watch on July 16, 2024

HUL 

Hindustan Unilever Limited (HUL) on Monday announced that it has signed an agreement for the sale of its Pureit business in India. In a regulatory filing, HUL said that the business is being sold to A.O. Smith, a global water technology company. 

Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Stocks To Watch: Reliance Industries, Aurobindo Pharma, ONGC, Bajaj Consumer, Bank of Baroda

Zomato

Deepinder Goyal, founder and CEO of Zomato, has joined the billionaire club, with the food delivery company’s shares continuing their rally on Monday. Goyal holds a 4.19% stake in Zomato, comprising 369.5 million shares. At Monday’s closing price of Rs 229 apiece (up 2.99% from the previous close), this stake is now valued at approximately Rs 8,465 crore (around $1.1 billion). During the day, Zomato’s stock hit a 52-week high of Rs 232 on the BSE.

Jio Financial Services 

Jio Financial Services’ net profit rose sequentially to Rs 312.63 crore in the June quarter of FY25 from Rs 310.63 crore in the previous quarter. The company’s total income for Q1 FY25 came in at Rs 417.82 crore, against Rs 414.13 crore in the same period a year ago and Rs 418.18 crore for the quarter ended March 31.

Unichem Laboratories 

Unichem Laboratories said that the United States Food and Drug Administration (FDA) inspected its Goa formulation facility from July 8, 2024 to July 15, 2024. The inspection concluded with five observations, primarily procedural in nature, and none related to data integrity. 

HDFC Life 

HDFC Life Insurance Company reported a net profit of Rs 478.97 crore, up 14.9% in comparison to Rs 416.71 crore posted in the same period a year ago. The company’s net premium income for the quarter stood at Rs 12,548.42 crore as against Rs 11,507.89 crore during the same period last year. 

Angel One 

Angel One reported a consolidated profit increased by 32.6% year-on-year to Rs 293 crore ($35.1 million) in the three months to June 30. The company’s higher Q1 profit was boosted by a surge in orders amid increased trading activity.

Hatsun Agro Products 

Hatsun Agro Products declared a 62.9% year-on-year decline in net profit standing at Rs 130.5 crore for Q1 FY25. The company’s revenue from operations rose 10.4% on year to Rs 2,375 crore against Rs 2,150.6 crore in the corresponding period a year ago.

Infosys

Infosys is well-positioned to lead growth among tier-I IT companies in the June quarter, with a sequential growth of nearly 3%. This growth is largely driven by the ramp-up of multiple mega deals, optimising operational efficiencies, and a one-off revenue impact adjustment from the previous quarter, various brokerage firms said.

Key Earnings Today

Bajaj Auto, L&T Finance, Aditya Birla Money, Alok Industries, Century Textiles & Industries, CRISIL, TV18 Broadcast, Agro Tech Foods, DB Corp, Dee Development Engineers, Eimco Elecon, Himadri Speciality Chemical, International Travel House, Jubilant Ingrevia, Just Dial, and Sofcom Systems to release their quarterly results today.