Stock Market : Airtel’s Profit Surge, Adani Energy’s Major Fundraising, and More! Watch These Key Stocks Today

Bharti Airtel

Airtel reported a net profit of ₹4,160 crore for the June quarter, doubling from the previous quarter and rising 158% year-on-year. This impressive growth was driven by a favourable tax judgment and the sale of its Sri Lankan operations. The company’s consolidated revenue increased by nearly 3% to ₹38,506 crore, while EBITDA reached ₹19,944 crore, up 1% year-on-year. However, the EBITDA margin decreased to 51.8%. CEO Gopal Vittal highlighted Airtel’s cost efficiency, strong growth in Africa, and the addition of 6.7 million new smartphone customers in India, with an improved average revenue per user (ARPU) of ₹211.

ONGC

ONGC surpassed first-quarter profit expectations with a standalone profit of ₹89.38 billion, thanks to strong domestic fuel demand and higher price realization. The company’s crude oil price realization rose by 8.8% to $83.05 per barrel, and its revenue from operations grew by 4% to ₹352.66 billion. However, profit declined by 15% due to the government’s windfall tax on petroleum crude, and expenses increased by 19% to ₹253.71 billion. Its peer, Oil India, is set to release its results later this week.

InterGlobe Aviation

IndiGo introduced a business class service, #IndiGoStretch, on the Delhi-Mumbai route, with bookings starting on August 6 for travel from November 14. This new service will be available on 12 domestic routes. Additionally, the airline will launch a loyalty program called ‘IndiGo BluChip’. CEO Pieter Elbers emphasized the premium quality of the new service and highlighted India’s increasing demand for premium services.

Reliance Industries

Reliance Industries climbed to the 86th position on the Fortune 500 list, marking its highest-ever ranking. The company had a market capitalization of ₹19.585 trillion and reported a 2.6% increase in revenue to ₹10,00,122 crore and a 16.1% rise in EBITDA to ₹1,78,677 crore at the end of FY24. Other Indian companies on the list include LIC, Indian Oil, SBI, ONGC, BPCL, Tata Motors, HDFC Bank, and Rajesh Exports.

Adani Energy Solutions

The company raised ₹8,373 crore through a qualified institutional placement (QIP) to invest in transmission assets, smart metering, debt repayment, and general corporate purposes. The QIP attracted bids nearly six times the base deal size from various investors. CEO Kandarp Patel noted the strong interest from institutional investors and India’s robust investment cycle.

Tata Chemicals

Tata Chemicals reported a significant 71.8% drop in first-quarter profit to ₹1.5 billion, citing lower soda ash prices and subdued demand. Revenue fell by more than 10% to ₹37.89 billion. The company anticipates a recovery in 12-18 months, as the oversupply in Asia and the EU, driven by China’s economic slowdown and decreased EU demand for glass products, continues to impact the market.

Marico

The FMCG giant reported an 8.66% increase in net profit to ₹464 crore for the April-June quarter, compared to ₹427 crore in the previous year. Revenue from operations rose by 6.7% to ₹2,643 crore. India’s revenues increased by 7.38% to ₹1,926 crore, with the oil business contributing 72% of revenue growth. The Parachute coconut oil segment accounted for 34% of revenue, Saffola edible oils for 16%, and value-added hair oils for 22%. The EBITDA margin improved by 50 basis points to 23.7%, as Marico continues to diversify and premiumize its product offerings in India.

Mahindra Lifespace Developers

Ample Parks, a joint venture between Actis and Mahindra Lifespace Developers, has acquired a 70-acre industrial land parcel at Mahindra World City, Chennai. The JV plans to develop 2 million sq. ft of Grade A industrial and warehousing space with an investment of ₹800 crore. It aims to acquire 700-750 acres for 15-17 projects in tier 1 and 2 cities over the next 5-7 years.

Aster DM Healthcare

Aster DM Healthcare plans to merge with Care Hospitals, creating India’s third-largest hospital chain with 9,900 beds. The merger, under the new entity Aster DM Quality Care Pvt. Ltd., will involve a share swap ratio of 50:50. The Moopen family will hold a smaller stake in the merged entity. Private equity firm Blackstone holds significant stakes in both companies.

Sterlite Technologies

STL has appealed to the European Commission against anti-dumping duties imposed on Indian optical fiber cable manufacturers. The company anticipates improved business performance and a return to profitability. STL also expects to benefit from the Indian government’s anti-dumping duties on certain optical fiber imports from China, South Korea, and Indonesia.

Tata Power

Tata Power received a letter of intent from PFC Consulting to acquire Paradeep Transmission, a project special purpose vehicle (SPV). The SPV, to be developed on a build, own, operate, and transfer basis for 35 years, involves constructing a 2 x 1,500 MVA, 190 km of 765 kV double circuit transmission line from Angul substation to Paradeep, Odisha.

Ambuja Cements

Ambuja Cements announced its first project in Bihar, a 6 MTPA cement grinding unit at Warisaliganj, Nawada, with an investment of ₹1,600 crore. The project, to be completed in three phases, will initially add 2.4 MTPA by December 2025. It is expected to generate ₹250 crore per year for Bihar’s fiscal revenue and create 250 direct and 1,000 indirect jobs.

Bharti Hexacom

Bharti Hexacom reported a net profit of ₹511 crore for the June quarter, up 101.9% year-on-year. Revenue increased by 13.6% to ₹1,911 crore, with mobile services revenue up 12.9%. The average revenue per user (ARPU) improved to ₹205 from ₹194. The homes and office business revenue increased by 21.1% year-on-year. The company reported an EBITDA of ₹912 crore with a margin of 47.7%, while EBIT came in at ₹416 crore with a margin of 21.8%.

Brigade Enterprises

Brigade Enterprises reported a significant 267.12% year-on-year increase in net profit to ₹80.5 crore for Q1FY25. Revenue from operations surged 64.8% to ₹1,077.7 crore. The company’s real estate revenue was ₹707 crore, leasing revenue was ₹259 crore, and hospitality revenue was ₹118 crore. EBITDA rose by 67.3% to ₹292.5 crore, with a margin of 27.2%. Pre-sales bookings amounted to 1.15 million sq. ft., with a sale value of ₹1,086 crore.

Deepak Nitrite

Deepak Nitrite reported a 35.1% year-on-year increase in net profit to ₹202.5 crore for Q1FY25. Revenue from operations grew by 22.5% to ₹2,166.8 crore. EBITDA rose by 47.4% to ₹309.2 crore, with a margin of 14.35%.

Biocon

Biocon received an establishment inspection report (EIR) with voluntary action indicated (VAI) from the US FDA for its API facility in Visakhapatnam, Andhra Pradesh, following a GMP inspection conducted in June 2024.

BLS International Services

BLS International Services reported a 70.1% year-on-year increase in net profit to ₹120.8 crore for Q1FY25, with revenue from operations rising by 28.5% to ₹492.7 crore. EBITDA grew by 66% to ₹133.1 crore, with a margin of 27%. Visa and consular business revenue increased by 35.9% year-on-year to ₹414.1 crore, while the digital business revenue was ₹78.5 crore. The business correspondent segment recorded over 3.5 crore transactions.

Honeywell Automation India

Honeywell Automation India reported a 32% year-on-year increase in net profit to ₹136.5 crore for Q1FY25. Revenue from operations rose by 3% to ₹960.4 crore. EBITDA grew by 27.9% to ₹154.2 crore, with a margin of 16.1%.

V-Mart Retail

V-Mart Retail posted a net profit of ₹12 crore for Q1FY25, reversing a net loss of ₹21.9 crore from the previous year. Revenue from operations increased by 15.9% to ₹786 crore. EBITDA rose by 88.9% to ₹99 crore, with a margin of 12.6%.

Indian Energy Exchange

IEX reported its highest-ever monthly traded volume of 13,250 MU for July 2024, a 56% year-on-year increase. Electricity volume reached 10,093 MU, while green electricity volume was 1 billion units. REC volume rose by 405% year-on-year to 3,150 MU. India’s energy consumption hit 145.4 BUs, a 4% increase year-on-year.

Lupin

Lupin announced the establishment of Lupin Lanka (Private) Ltd in Sri Lanka as a wholly-owned subsidiary. Additionally, the company received a centralized Show Cause Notice from the Maharashtra GST Authority seeking recovery of ₹336.2 crore in taxes, along with applicable interest and an equivalent penalty of ₹336.2 crore for the period from July 2017 to March 2022.

Schneider Electric Infrastructure

Schneider Electric Infrastructure reported a 38.8% year-on-year increase in Q1 profit to ₹48.5 crore, compared to ₹34.9 crore in the same period last year. Revenue grew by 19.7% to ₹592.9 crore, compared to ₹495.3 crore previously.

Brigade Enterprises

Brigade Enterprises saw a 268% year-on-year increase in consolidated Q1 profit to ₹80.5 crore, compared to ₹21.9 crore in the same period last year. Revenue surged by 64.8% to ₹1,077.7 crore, up from ₹653.97 crore earlier.

BEML

BEML reported a consolidated Q1 net loss of ₹70.5 crore, narrowing from a net loss of ₹75 crore in the same period last year. Revenue rose by 9.9% year-on-year to ₹634.1 crore, compared to ₹576.9 crore earlier.

BLS International Services

BLS International Services’ consolidated Q1 profit jumped by 70.1% year-on-year to ₹120.8 crore, compared to ₹71 crore in the same period last year. Revenue grew by 28.5% to ₹492.7 crore, compared to ₹383.5 crore earlier.

Motherson Sumi Wiring India

Motherson Sumi Wiring India’s Q1 profit increased by 20.9% year-on-year to ₹148.9 crore, compared to ₹123.1 crore in the same period last year. Revenue grew by 16.7% to ₹2,184.8 crore, compared to ₹1,871.8 crore previously.

Triveni Turbine

Triveni Turbine’s consolidated Q1 profit rose by 31.9% year-on-year to ₹80.41 crore, compared to ₹61 crore in the same period last year. Revenue grew by 23% to ₹463.3 crore, compared to ₹376.4 crore earlier.

Bajaj Consumer Care

Quant Mutual Fund bought a 1.89% stake in Bajaj Consumer Care at an average price of ₹256 per share, while Goldman Sachs Funds sold a 1.69% stake at an average price of ₹256.02 per share.

Huhtamaki India

Plutus Wealth Management LLP acquired a 0.66% stake in Huhtamaki India at an average price of ₹416.49 per share.

Aavas Financiers

Smallcap World Fund Inc purchased a 0.63% stake in Aavas Financiers at an average price of ₹1,630 per share.