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    GUJARAT MINERAL DEVELOPMENT CORPORATION LTD Q2 RESULTS

    These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 25%

    As far as Nifty is concerned, bulls have never left control so there is no point even talking about it. Now in the last few sessions, it is clear that bulls are once again making an attempt to control every corner of the street once again which is to improve the market breadth of all segments. But because valuations are high, one has to be cautious, while being bullish. The reason why we are being cautious is that valuations have once again begun to move from expensive to extremely expensive even if one takes into account the results from Q1. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.

    Take notice! In a muted Q1 season, these 14 companies doubled sales and profits

    14 companies with market capitalization exceeding Rs 2,500 crore demonstrated exceptional performance in Q1 2024, doubling their sales and profits. Top performers included Spright Agro and Diamond Power Infrastructure. The broader market saw mixed results with sectors like BFSI and automobile doing well, but oil marketing companies underperforming.

    Ola electric might be the face: There is more to EV ecosystem: 7 stocks that may not come at the “first thought” but gain equally from EV

    Whether we accept it or not, a number of times we assume the company’s business by its name. For example Bajaj Auto is an auto company, which is very obvious. This is what is called as “ first thought” Similarly when it comes to electric vehicles (EV), it is but natural to think that auto ancillary which are supplying to EV OEMs would be the biggest gainer as the structural change takes place. The fact is that in the case of EV, the most critical part is battery, that is why even Ola electric is focussing on it with its Bharat 4680. Now let's go back even further. What is going to power the batteries which are going to power EV. There are companies which are focussing on being critical to the battery ecosystem by supplying what will go into making of EV batteries which is critical to the EV eco system. So, there is a chain, which starts from the most non obvious company to end at the most obvious which is ola electric and other auto companies. Let's look at the most non obvious one.

    Oil and gas spoil India Inc show in June Quarter

    In the June 2024 quarter, India's industry saw modest growth with a 9.4% net profit increase, mainly due to lower refining and marketing margins in the oil and gas sector. Banking and finance sectors performed well with significant revenue growth. The overall operating margin declined to 17.4%. Future growth hinges on rural demand revival post-monsoon.

    Bankruptcy court okays SKS Power Generation’s Acquisition by Sarda Energy & Minerals

    The division bench of judicial member Kishore Vemulapalli and technical member Anu Jagmohan Singh approved Sarda Energy & Minerals’ resolution plan in its oral order. The detailed order was not uploaded at the time of filing the report.

    Stocks to buy: Consider reasonably valued companies; 5 stocks with up to 38% upside potential

    Out of 2,506 stocks with market caps greater than Rs.100 crore, 60.8% or 1,523 companies are trading at a TTM PBV multiple higher than their respective five-year average; 1,042 companies’ (41.5% of total) current TTM PBV multiple is at over 25% premium to their respective five-year average multiple. The stocks that are trading at a valuation discount in terms of their PBV multiple relative to their respective five-year average were identified. To look for fundamental soundness, only those that have surpassed analysts’ estimates in the June 2024 quarter were considered.

    • Q1 results this week: HAL, Ola Electric, Vodafone Idea, IRFC, and Nykaa among 85 companies to announce quarterly earnings

      Several widely followed companies, including Vodafone Idea, Hindustan Aeronautics (HAL), Mazagon Dock, Hero MotoCorp, IRFC, IRCTC, HUDCO, Apollo Hospitals, Samvardhana Motherson, GMR Airports Infrastructure, Nykaa, and Ola Electric will be releasing their June quarter report cards this week. Here’s the list:

      Torrent Power Q1 Results: Cons PAT zooms 87% YoY to Rs 996 cr

      The company reported a substantial increase in net profit for the April-June quarter, reaching Rs 996.34 crore compared to Rs 532.28 crore in the same period last year. Total income also rose by 23% to Rs 9,110.02 crore. Additionally, the company's board approved the sale of its entire stake in Torrent Electricals Private Ltd (TEPL) to its holding company, Torrent Investments Private Ltd (TIPL), for Rs 85 crore.

      Q1 results this week: ITC, SBI, TaMo, Zomato among 130 firms to announce earnings

      This week, several prominent companies released their June quarter financial results. Firms like ITC, SBI, Adani Ports, Tata Motors, and M&M showcased their reports between July 29th and August 3rd. The updates offered a glimpse into their quarterly performance, engaging the attention of investors and stakeholders.

      Westlife Foodworld Q1 Results: Net profit declines 88% to Rs 3.25 crore

      Westlife Foodworld, operator of McDonald's restaurants in West and South India, on Thursday reported an 88.72 per cent decline in its consolidated net profit to Rs 3.25 crore for the June 2024 quarter on account of subdued in-store business and higher royalty costs. The company reported a consolidated net profit of Rs 28.83 crore in the April-June quarter a year ago, according to a regulatory filing.

      Adani Green Energy Q1: Net profit surges 95% to Rs 629 crore

      Adani Green Energy Q1 Result Updates: Adani Green Energy Ltd, the renewable energy arm of Adani Group reported a 95% increase in consolidated net profit for the quarter ended June 30, on the back of higher revenues led by capacity addition.

      Adani Green Q1 Results: Profit rises 38% YoY to Rs 446 crore

      On Thursday, Adani Green reported a 38% year-on-year (YoY) increase in its consolidated net profit, reaching Rs 446 crore for the first quarter ended June 2024, up from Rs 322 crore in the same period last year.

      Infosys Q1 earnings; payment cos seek UPI sops

      IT major Infosys logged a rise in profits for the first quarter of FY25. This and more on today’s ETtech Top 5.

      Q1 results this week: RIL, Paytm, Infosys, Jio Financial among 418 companies to announce quarterly earnings

      Several widely followed companies, including Jio Financial, Paytm, Bajaj Auto, Asian Paints, LTIMindtree, Infosys, Reliance Industries, Wipro, Union Bank of India, Kotak Mahindra Bank, Tanla Platform, Tata Technologies, and YES Bank, will be releasing their June quarter report cards this week.

      Cabinet approves offshore wind energy projects in Gujarat, Tamil Nadu with total outlay of Rs 7,453 cr

      The Union Cabinet approved India's first offshore wind energy projects with a capacity of 1 GW, divided equally between Gujarat and Tamil Nadu, at a total cost of Rs 7,453 crore. Information & Broadcasting Minister Ashwini Vaishnaw highlighted this as a landmark decision, emphasizing the significant opportunity it represents for India's renewable energy sector.

      SJVN Q4 Results: Net profit jumps two-fold to Rs 61 crore

      State-owned SJVN has reported over two-fold jump in consolidated profit to Rs 61.08 crore during the March quarter, on account of exceptional gains.

      Nalco Q4 Results: Profit jumps two-fold YoY to Rs 996.7 cr

      ​State-owned Nalco on Monday reported two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses. The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE.

      Power stocks: Stay with the re-rated ones in Modi 2.0 for next round in 3.0, just hedge a bit, 5 stocks with upside potential of upto 23%

      In the last ten years there have been many sectors which have come out of their troubled past, but the power sector probably stands out for multiple reasons. First, moving out of trouble not only meant that power companies were able to stand on their own feet, but also a big amount of NPA which the banks were saddled with was due to power companies being in the red. So, the health of the power sector, especially the private companies, has seen an improvement. Because there are a large number of PSUs in the power sector, due to policy push and changes in the policy a number of them have seen better performance. Now because any sector where the government and its policies have played an important role in terms of revival, the continuation of the policy framework becomes critical for the sector. So in such a sector, shareholders should hedge before the election results so that their decisions are not impacted by the narrative that FPI are selling due to polls.

      Q4 results this week: Tata Steel, LIC, IRCTC, Apollo Hospitals Enterprise, and Bharat Dynamics

      Several companies, including Tata Steel, LIC, and IRCTC, will release their March quarter report cards this week.

      Hudco Q4 Results:Net profit rises 9% YoY to Rs 700 crore

      The company's total income for the quarter was 18% higher at Rs 2,194 crore against Rs 1,862 crore. Its board recommended a final dividend of Rs 2.65 per equity share on the face value of Rs10 each for the financial year 2023-24.

      Q4 results this week: ITC, ONGC, Sun Pharma, Nykaa, Ircon International and IRFC

      ITC, ONGC, IRFC, Ircon International, BHEL, BEL, Sun Pharma, Nykaa, Tata Investment Corporation, Hindalco, Ashok Leyland, and Divi's lab will be releasing their March quarter report cards this week.

      Hyderabad pre monsoon showers bring flooding, traffic woes; IMD warns of more showers

      Heavy rains brought relief from the heat in Hyderabad but also caused flooding in several areas. The Telangana State Development Planning Society reported over 51 mm of rainfall, with Yousfuguda recording the highest at 51.3 mm. The Indian Meteorological Department predicted more rainfall for the evening and night, raising concerns for the IPL match. Alerts have been issued, urging people to monitor the weather and be prepared to move to safer locations. The IMD also warned of moderate rain and thundershowers in GHMC limits. Residents are advised to stay updated with weather forecasts and take precautions.

      Q3 Results: How did 5 key sectors perform during the quarter?

      Insights from management commentaries provide indicators of the Indian economy's health in Oct-Dec quarter. IT sector revenue growth remains muted. Pharma sector sees promising PAT growth. Banking sector experiences robust credit growth. Auto sector witnesses deceleration in volume growth. FMCG sector faces slow sales growth.

      These 26 companies saw over 25% drop in Q3 sales, PAT; are they still worth betting on?

      Around 26 companies, with a market capitalisation of over Rs 2,500 crore, reported atleast 25% year-on-year (YoY) fall in both revenue and profits in the last quarter, and a majority of them were part of the chemicals and pesticides sector.

      Q3 results today: Hindalco Industries, BHEL, IRCTC among 500 companies to announce earnings

      On Monday, over 299 companies announced their December quarter earnings which included the likes of NHPC, Coal India, 63 Moons Technologies, Allcargo Logistics, Balmer Lawrie Investments and Galaxy Surfactants.

      ONGC Q3 Results: Net profit falls 10% YoY to Rs 10,356 crore; dividend declared at Rs 4/share

      ​Oil and Natural Gas Corporation (ONGC) reported a 9.9% year-on-year (YoY) decline in consolidated net profit for the quarter ended December 2023 to Rs 10,356 crore, compared to Rs 11,489 crore in the year-ago period.

      Q2 results this week: Adani Ports, Tata Power, LIC, RVNL, M&M and others

      Power Grid, Shree Cements, Trent, Zydus Lifesciences, Info Edge (India), Indian Railway Catering & Tourism Corporation, Cummins India, Alkem Laboratories, UNO Minda, Prestige Estates Projects, among others will release their Q2 earnings on November 7

      Q1 results this week: Adani Enterprises, SBI, Maruti, Titan, Airtel, M&M & others

      Major firms such as Maruti Suzuki, Titan, Bharti Airtel, and M&M among others will release their June quarter results this week. The report cards of other companies such as GAIL, Power Grid, Sun Pharma, and Adani Enterprises are also expected to be out. This week, Maruti Suzuki, Adani Enterprises, Adani Transmission, Titan, IndiGo, Bharti Airtel, Sun Pharma, SBI, M&M, Varun Beverages, and Bank of Baroda are scheduled to announce their quarterly performance.

      Buy Gujarat Mineral Development Corporation, target price Rs 188: ICICI Securities

      Gujarat Mineral Development Corporation, incorporated in the year 1963, is a Small Cap company (having a market cap of Rs 5641.32 Crore) operating in Mining sector.

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