India’s benchmark indices scaled new peaks on July 17 (Monday) as buyers showed keen interest in financial stocks.
The S&P BSE Sensex hit a new high of 66,589.93, ending up 529 points, or 0.80 per from the previous close. The NSE’s Nifty also performed its best, rising to 19,711.45, up 147 points, or 0.75 per cent. The Sensex scaled an all-time high of 66,656.21, while the 50-share Nifty also soared to a lifetime high of 19,731.85.
Even as the share market performed well, companies like HDFC Bank, LTIMindtree, and Tata Elxsi declared their first-quarter results on Monday. As the share market opens on Tuesday, ZeeBiz takes you through the list of shares to watch out for.
HDFC Bank
HDFC Bank beat Zee Business Research estimates to report a 30 per cent jump in its net profit at Rs 11,952 crore in its first quarter (April-June).
The company’s net interest income rose 21.1 per cent to Rs 23,599 crore, while the net interest margin remained flat sequentially at 4.1 per cent in the quarter under review.
The upbeat results raised investors’ hopes as the bank’s share jumped 2.07 per cent to Rs 1679.20 at the BSE on Monday. Good results can have an impact on the HDFC Bank share on Tuesday as it can continue its excellent performance.
LTIMindtree
The IT services and consulting company also announced its April-June quarter results on Monday, registering an above-3 per cent jump to Rs 1151.5 crore in its quarter-on-quarter net profit.
The company’s revenue from operations also rose marginally QoQ, from Rs 8,691 crore to Rs 8,702.1 crore, while its year-on-year net profit saw a growth of 4.15 per cent.
The company’s share price rose 0.78 per cent on Monday to close at Rs 5,133.95. It can generate investor interest on Tuesday.
Tata Elxsi
Tata Elxri announced its first quarter results on Monday, clocking a marginal rise of 2 per cent in its net profit to Rs 189 crore.
In its BSE filing, the company said that its revenue from operations also grew 17 per cent to Rs 850 in the quarter under review. The results were declared after the close of the stock market.
The company’s share on the BSE dipped 0.30 per cent to Rs 7710.85. As the market opens on Tuesday, the share of the technology services firm will be the one to follow.
Suzlon Energy
The share price of India’s leading renewable energy company gained strength immediately after the market opened on Monday, rising to the day’s high of Rs 18.45 on the BSE.
It settled 2.99 per cent higher at Rs 18.23 at close of market on Monday. The buying interest in the scrip came after the company inked a deal with Everrenew Energy Private Limited.
JSW Energy
JSW Energy had a lacklustre show on Monday as its share price plummeted 3.78 per cent to Rs 293.05 after a poor showing in its Q1 results.
The company declared its first-quarter results on Friday (July 14), reporting a 48 per cent decline in its net profit to Rs 290 crore. As the share market opened on Monday, the company’s shares started sliding.
At one point, the share price had fallen above 7 per cent, before recovering towards the end of the day. It will be interesting to see if the dismal showing of the share continues on Tuesday or if it recovers to a better performance.
