Stocks to Watch: RIL, Kotak Mahindra Bank, HDFC Life, Wipro, Vedanta and More

Here’s The List of Stocks on which Investors will keep their eye today:

IRCTC

The Government of India has declared that IRCTC has been promoted from ‘Schedule B’ to ‘Schedule A’ in the category of Central Public Sector Enterprises.

EMS

The Uttarakhand Urban Sector Development Agency has issued the corporation a Letter of Acceptance for the development of a water supply and sewerage system in Vikas Nagar, Dehradun. The order is worth Rs 535.19 crore, with EMS and another joint venture partner sharing a 95% stake for an 18-year operation and maintenance (O&M) period.

Vedanta

The business finished its Qualified Institutions Placement (QIP) issuance, which raised Rs 8,500 crore by issuing 19.31 lakh equity shares at Rs 440 each. Institutional investors such as Morgan Stanley, Societe Generale, SBI MF, Nippon MF, ICICI Mutual Funds, and Copthall Mauritius Investment took part.

Allcargo Gati

Total volume, including surface and air express, was 1,00,000 tonnes in June 2024, a 3% decrease over the previous month and a 2% decrease year on year. The firm claimed a 1% increase in yield over the previous month, due to a better product mix.

HDFC Life Insurance Company

The Assistant Commissioner of Income Tax in Mumbai issued an income tax rectification order lowering the tax and interest demand for Assessment Year 2020-21 to Rs 1,868.12 crore, down from Rs 4,178.8 crore.

Indian Bank

The Central Government has prolonged Shanti Lal Jain’s term as MD and CEO of Indian Bank from September 1, 2024 to December 31, 2024.

RIL 

Revenue increased by 11.5% to ₹2.32 lakh crore from ₹2.08 lakh crore. EBITDA rose 1% to ₹38,765 crore. Net profit fell 5.5% year on year at ₹15,138 crore. EBITDA margin has dropped to 16.7% from 18.4% the previous year. Reliance Jio increased its average revenue per user to ₹181.7 from ₹180.5 the previous year. Reliance Retail revenue increased 8.1% to ₹75,630 crore. Retail EBITDA margin increased to 7.5% from 7.4% previous year. O2C income was ₹1.57 lakh crore, up from ₹1.33 lakh crore the previous year. The O2C margin has dropped to 8.3% from 11.5% the previous year. Oil and gas income increased to 6,179 crore from 4,632 crore previous year. The oil and gas margin fell to 84.3% from 86.7% the previous year.

Wipro 

Constant currency revenue falls by 1%. Revenue has declined for the sixth quarter in a row. The EBIT margin stayed constant at 16.5%. In constant currency terms, revenue growth in the second quarter ranged from -1% to +1%. Overall Total Contract Value decreased 9% sequentially to $3.28 billion. Large transaction TCV fell 3% sequentially to $1.15 billion. The ADR closed 11.5% lower on Wall Street.

Kotak Mahindra Bank

Net interest income of ₹6,842 crore is lower than the expected ₹7,067 crore. The net profit of ₹6,249 crore is larger than the poll of ₹4,004 crore. The net interest margin of 5.02% is the lowest in eight quarters. Deposits increased by 15.8% year on year, the lowest in six quarters. Advances are up 18.7% from last year, marking the greatest rise in six quarters. Provisions quadruple to ₹578.5 crore. Profit was boosted by an extraordinary item worth ₹3,519.9 crore. Gross NPA is steady at 1.39%. Net NPA: 0.35%.

Power Finance Corporation (PFC)

The board appointed Sandeep Kumar as Director (Finance) effective July 11.