Synopsis
Indian benchmark indices fell nearly 3% on Monday, influenced by turmoil in global markets and fears of a slowdown in the US economy. Major companies such as RIL, Bharti Airtel, Vedanta, and Tata Power were in the spotlight due to recent news and quarterly earnings reports. RIL is set to hold its AGM on August 29, while ONGC and Airtel reported contrasting profit margins.
Amidst concerns of a slowdown in the US economy, global equities markets saw exceptionally weak trends on Monday, which caused Indian benchmark indexes to plummet by around 3%. Due to a number of news stories and first-quarter earnings, shares of RIL, Bharti Airtel, Vedanta, Tata Power, and Lupin, among others, will be the subject of attention in today’s trade.
Stocks to Watch
PFC, Vedanta, Tata Power, TVS Motor and Shree Cements
When the businesses release their first quarter results today, investors will be concentrating on the stocks of PFC, Vedanta, Tata Power, TVS Motor, and Shree Cements.
RIL
The business said in a statement on exchanges that RIL, Reliance Industries Limited, will hold its 47th Annual General Meeting (AGM) on August 29 at 2:00 PM.
ONGC
The state-owned ONGC announced on Monday that its standalone net profit for the first quarter ended in June 2024 had decreased by 15% to Rs 8,938 crore.
Airtel
Leading telecom provider Bharti Airtel reported on Monday that its consolidated net profit for the first quarter increased by 158% year over year to Rs 4,160 crore.
Bajaj Consumer
Leading telecom provider Bharti Airtel reported on Monday that its consolidated net profit for the first quarter increased by 158% year over year to Rs 4,160 crore.
Power Mech
An order for Rs 110.57 crore was placed with Power Mech by Dangote Petroleum Refinery and Petrochemical FZE.
Deepak Nitrite
In the first quarter, Deepak Nitrite declared a net profit of Rs 202 crore. The operational revenue amounted to Rs 2,167 crore.
Lupin
The Maharashtra GST authorities sent Lupin a show-cause notice, requesting that they pay back Rs 672.4 crore in taxes and penalties.
Stocks to Watch: RIL, Bharti Airtel, Vedanta, Tata Power, and Lupin
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