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

Stocks in Focus: GIFT Nifty traded higher as the index was up 26.50 points or 0.11% at 24,370 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 closed the session 20.50 points or 0.08% lower to settle at 24,347, while the BSE Sensex fell 57 points or 0.07% to close at 79,648.92.

Stocks to watch on August 13, 2024

Berger Paints

Berger Paints, the country’s second-largest paints company, is not worried about the entry of Birla Opus in the market and hopes to double turnover to Rs 20,000 crore by FY29 from Rs 10,000 crore in standalone revenue in FY24, Abhijit Roy, MD & CEO, Berger Paints India, said on Monday. 

Stocks To Watch: Vedanta, Vodafone Idea, Happiest Minds Technologies, Asian Paints, Piramal Enterprises Stocks To Watch: Reliance Industries, Aurobindo Pharma, ONGC, Bajaj Consumer, Bank of Baroda Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power

Vodafone Idea

Vodafone Idea’s net loss for the April-June quarter narrowed to Rs 6,432 crore from Rs 7,674 crore in the preceding quarter, owing to the fall in expenses, especially the finance costs.

ONGC

The ministry of petroleum and natural gas on Monday allowed the allocation of gas produced from new wells or well interventions from nominated fields of state-owned upstream companies ONGC and Oil India at a 20% premium over the administered price mechanism (APM price) or the domestic natural gas price.

IRFC

IRFC’s net profit remained flat on a yearly basis, coming in at Rs 1,576 crore, compared to Rs 1,551 crore last year. The railway financier reported revenue of Rs 6,765 crore, which is a growth of 1.4% from the revenue of Rs 6,673 crore that it reported in the same quarter of last year. 

Wipro  

Wipro announced that its Chief Technology Officer (CTO) Subha Tatavarti has resigned from the services of the company to pursue opportunities outside of the IT firm. In her resignation letter, she wrote, “I am resigning from the post of CTO, Wipro effective August 16th. Good luck with your journey.” Subha Tatavarti will be stepping down as Chief Technology Officer with effect from the close of business hours on August 16, 2024. 

VA Tech Wabag

VA Tech Wabag, a pure-play water technology company, has secured a repeat order worth Rs 415 crore from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB). The order is towards the operation and maintenance of 110 megaliters per day SWRO Desalination Plant at Nemmeli in Chennai for a period of 7 years.

Power Grid Corp

Power Grid Corporation said it has bagged a transmission project in Rajasthan under tariff-based competitive bidding. “Power Grid Corporation of India Ltd (Power Grid) has on 12th August 2024, received a Letter of Intent (LoI) for acquiring a Project Special Purpose Vehicle (SPV) viz. Bhadla-III Power Transmission Ltd for establishing the transmission system associated with ‘Additional Transmission System for Evacuation of Power from Bhadla-III PS as Part of Rajasthan REZ Phase-III Scheme (20 GW),” a company statement said.

JSW Steel 

JSW Steel will acquire the controlling stake in an Australian miner for $170 million as India’s largest steelmaker seeks to secure the supply of coking coal—a key raw material that is scarce in India—to meet its expansion plans. The company’s board approved to pay $120 million for a 66.67% stake in M Res NSW HCC Pty Ltd, according to an exchange filing.

Hindustan Copper 

Hindustan Copper’s net profit surged to Rs 113 crore from Rs 47 crore last year. This, despite higher employee expenses, power and fuel costs, and lower other income.

The bottom line was aided by an increase in revenue, which grew by 33% from the same period last year to Rs 493.6 crore.

NMDC

National Mineral Development Corporation (NMDC) reported a consolidated net profit of Rs 1,970.80 crore for the quarter ending June, increasing 19% on year from Rs 1,652.2 crore in the year-ago period, amid increased realisations. NMDC’s consolidated revenue from operations was flat at Rs 5,414.2 crore in the quarter ended June 30.

Key earnings to watch 

Hero MotoCorp, Hindalco Industries, FSN E-Commerce Ventures Nykaa, Allied Blenders and Distillers, Allcargo Logistics, Anupam Rasayan India, Apollo Hospitals Enterprise, Ashoka Buildcon, Dilip Buildcon, Eclerx Services, Emcure Pharmaceuticals, Endurance Technologies, Godrej Industries, HEG, Ipca Laboratories, Indian Railway Catering and Tourism Corporation, Manappuram Finance, Medi Assist Healthcare Services, Max Financial Services, Samvardhana Motherson International, MTAR Technologies, Muthoot Finance, Nazara Technologies, NBCC India, Piramal Enterprises, Religare Enterprises, SJVN, and TBO Tek will announce their Q1 FY25 results on August 13.