Stocks to Watch Today: Ola Electric, Hindustan Zinc, SpiceJet, SBI, Glenmark Pharma – Big News and Q1 Results in Focus

Domestic markets stayed quiet and closed without much change on Wednesday, taking a break after Tuesday’s fall. Today, shares of Ola Electric, Hindustan Zinc, SpiceJet, SBI, and Glenmark Pharma will be in the spotlight due to important news and their first quarter results.

Hindustan Zinc
Hindustan Zinc Limited (HZL) has announced an offer for sale from August 16 to 19, with a floor price set at ₹486 per share, according to reports.

SpiceJet
Budget airline SpiceJet Ltd reported a 20% drop in its net profit for the first quarter, standing at ₹158 crore for the period ending June 2024.

Ola Electric
Ola Electric Mobility reported a net loss of ₹347 crore for the quarter ending June 30, 2024, an increase from the ₹267 crore loss a year ago.

REC
REC has set up a new subsidiary called Rajasthan IV 4B Power Transmission to help manage power evacuation efforts in Rajasthan’s Renewable Energy Zone.

SBI, PNB
The Karnataka government has decided to stop banking with SBI and PNB due to concerns about the misuse of government funds and illegal transactions.

Glenmark Pharma
Glenmark Pharma reported a net profit of ₹340 crore for the first quarter. Its revenue from operations stood at ₹3,244 crore.