Record Highs for Sensex and Nifty: Maruti, M&M, Tata Consumer, Adani Energy, and Vedanta in the Spotlight Today

July 31, 2024

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The main stock market indices, Sensex and Nifty, reached record highs on Tuesday, continuing their winning streak for the third consecutive day. Today, several major companies, including Maruti, M&M, Tata Consumer, Adani Energy, and Vedanta, will be in the spotlight due to various news events and the release of their first-quarter results.

Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja, BoB

The shares of these companies will be closely watched as they are set to announce their first-quarter financial results today.

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Vedanta

Mining giant Vedanta has received approval from 75% of its secured creditors to proceed with obtaining clearance from stock exchanges. The company will then file its demerger scheme with the National Company Law Tribunal (NCLT).

GAIL

State-owned GAIL reported a consolidated net profit of ₹3,183 crore for the quarter ending in June 2024, a significant increase of 78% from the ₹1,793 crore profit reported in the same period last year.

Adani Energy

Adani Energy Solutions launched a qualified institutional placement (QIP) on Tuesday, setting a floor price of ₹1,027.1 per share.

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Hindalco

Hindalco Industries plans to invest nearly $7 billion in capital expenditure over the next three to five years.

Mindspace Business Parks

Mindspace Business Parks REIT, backed by K Raheja Corp, is planning to invest over ₹3,500 crore in developing new office properties.

Nexus Select Trust

Nexus Select Trust, India’s first listed retail real estate investment trust (REIT), is focusing on inorganic growth by negotiating the acquisition of five more retail properties, in addition to working on five existing acquisitions.

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Indus Towers

Indus Towers reported a net profit of ₹1,926 crore for the first quarter, with revenue from operations amounting to ₹7,383 crore.

Punjab Housing

The Carlyle Group sold a 12.8% stake in Punjab Housing Finance for ₹2,578 crore at an average price of ₹775.1 per share.

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