Stocks that are in the news today

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Photo: BCCL

HIGHLIGHTS

  • HUL Q1 Vol up 6%, JPMorgan maintains overweight
  • Grasim authorizes investments of `2000 Cr over the next 5 years
  • Krsnaa has received an order from Rajasthan for a CT center

Let’s talk about a few actions that are in the spotlight today.

1 – HUL

HUL is front and center in today’s trading after reporting an 11.06% YoY jump in PAT to 2,289 Cr from 2,061 Cr last year. Analysts increased their price target while their recommendation remained the same.

2 – RIL, CGSB & OIL INDIA

The Center lowered the windfall tax on crude oil exports and production, prompting reactions from stocks like RIL, ONGC and Oil India. The tax was reduced to ₹17,000/ton for crude oil production.

3 – SPECIALIZED RESTAURANTS IN THE SPOTLIGHT

The Delhi High Court has suspended recent guidelines prohibiting hotels and restaurants from automatically levying service charges on food bills. Judge Yashwant Varma, while dealing with motions from the NRAI and the Federation of Hotel and Restaurant Associations of India challenging the CCPA July 4 guidelines, said the matter needed to be looked into and ordered the authorities to file their response.

4 – GRASIM

Grasim’s Board of Directors has approved the move to a B2B e-commerce platform for trading and marketing a wide range of building materials, allowing a Capex of ₹2000 Cr over the next five years.

5 – HAVELS

A good set of first quarter earnings is expected for Havells as intense summers have resulted in strong value and volume growth for Lloyd fans. Lloyd’s profitability is expected to remain under pressure due to commodity inflation and intense competition.

6 – ABUZZ FERTILIZER

India plans to secure fertilizer supply and hedge against price hikes by expanding its footprint in mineral-rich countries through investment and multi-year import deals.

7 – KRSNAA DIAGNOSIS

Rajasthan Medical Education Society, Government of Rajasthan has awarded a tender for the supply, installation, operation and maintenance of CT center.

8 – JBM AUTO & OLECTRA GREEN

State-controlled Convergence Energy Services Ltd. plans $10 billion tender for 50,000 electric buses that will drive India’s plans to decarbonise public transport and meet its zero-emissions targets net.

9 – ITC

FMCG Business is estimated to have a market potential of ₹5 Lk Cr by 2030. The cigarette business has seen a recovery and is ahead of pre-pandemic levels.

10 – STAR HEALTH

Credit Suisse initiated a hedge on the stock with an outperformance position.

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