Stocks in news: Nykaa, Adani Wilmar, Titan, Bandhan Bank, IndusInd Bank, Marico, Dabur
Markets uptrend; focus stocks: Nykaa, Adani Wilmar, Titan, Bandhan Bank, IndusInd Bank, Marico, Dabur, BigBloc Construction, Tinna Rubber and Infra, ASM Technologies. Punjab & Sind Bank to open 100 branches. PC Jeweller’s settlement approved. Tata Motors 5% growth. Union Bank and Bank of Baroda growth. AB Capital COO retires. Nykaa 22-23% revenue growth. Adani Wilmar 13% volume growth.
Despite a mixed session on Friday, domestic markets had an uptrend last week, indicating positive sentiments of investors. In today’s trade, shares of , , , , , , among others will be in focus due to various news developments and first quarter updates.The Board of BigBloc Construction will meet on July 19 to consider and approve bonus issue of shares.
Tinna Rubber and Infra
Ace investor Dolly Khanna picked up 1.03% stake in Tinna Rubber and Infrastructure, which is into recycling end-of-life tires and waste tires, during the June quarter.
Star investor Mukul Mahavir Agrawal bought as much as 6.5% stake in engineering consultancy service provider ASM Technologies during the June quarter.
Nykaa
Nykaa expects its revenue growth to be around 22-23% year-on-year in the first quarter. GMV (Gross merchandise value) growth for the quarter is seen to be in mid-twenties.
Punjab & Sind Bank
State-owned Punjab & Sind Bank plans to open 100 branches across the country in the current financial year as part of the strategy to expand its reach.
(PNB) approves PC Jeweller’s one time settlement (OTS) proposal to settle the outstanding dues.
Adani Wilmar
Adani Wilmar said it achieved a volume growth of 13% year-on-year in the first quarter, driven by market-specific strategies in each category, aimed at gaining market share, especially in under-indexed markets.
Titan
Consumer discretionary major Titan Ltd registered 9% year-on-year growth in its business for the first quarter ended June 2024.
IndusInd Bank
Private lender IndusInd Bank reported net advances at Rs 3.48 lakh crore for the quarter ended June 2024, which was up 16% year-on-year.
Bandhan Bank
Bandhan Bank has appointed Ratan Kumar Kesh as interim MD and CEO for 3 months with effect from July 10, 2024.
Union Bank’s total deposits rose 8.5% in the first quarter ended June 2024. Meanwhile, global gross advances gain about 11.5%.
Tata Motors unit JLR wholesales were up 5% year-on-year to 97,755 units in the first quarter ended June 2024. Meanwhile, retail sales were up 9% year-on-year.
Dabur
Dabur India said it expects its consolidated revenue to grow in the mid to high single-digits in the first quarter.
AB Capital
The company’s COO Mukesh Malik opted to retire early from the position with effect from July 31.
Bank of Baroda reported 9% growth in deposits in first quarter, while advances rose 8% year-on-year.
Marico
Marico said its domestic business posted a modest uptick in underlying volume growth on a sequential basis during the June quarter.
Source: Stocks-Markets-Economic Times
