GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted opening on Monday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded higher as the index was up 22.50 points or 0.09% at 24,406 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed the session 250.50 points or 1.04% higher to settle at 24,367.50, while the BSE Sensex rose 819.69 points or 1.04% to close at 79,705.91.

Stocks to watch on August 12, 2024

Reliance Industries 

Reliance Industries, India’s largest conglomerate, recently made news for a significant workforce reduction. A report by The Economic Times says that RIL let go of 42,000 employees in the fiscal year 2023-24, reducing its total workforce by 11% compared to the previous year. This big cut, especially in the company’s retail division, has raised concerns. 

Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Stocks To Watch: Vedanta, Vodafone Idea, Happiest Minds Technologies, Asian Paints, Piramal Enterprises Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC

Aurobindo Pharma 

Aurobindo Pharma said its consolidated net profit increased 61% year on year to Rs 919 crore in Q1FY25, aided by strong sales across markets, compared to Rs 571 crore in Q1FY24. The Hyderabad-based drug maker’s revenue from operations increased to Rs 7,567 crore in the June quarter as against Rs 6,851 crore in the year-ago period, the drug maker said in a statement.

ONGC

Oil and Natural Gas Corporation said that it has received government approval to invest more capital into ONGC Petro additions Limited (OPaL). The investment will include an infusion of additional equity capital up to Rs 10,501 crore in ONGC Petro additions Limited (OPaL), which will take ONGC’s stake in its subsidiary to 95.69 per cent. The company received approval from the Ministry of Petroleum & Natural Gas, Govt. of India (GoI) on August 9, 2024.

Also, Mazagon Dock Shipbuilders has clinched a contract worth Rs 4,676 crores from the Oil and Natural Gas Corporation (ONGC). The contract pertains to the fabrication and installation of Wellhead Platforms and Associated Pipeline Project (DSF-II) on an EPC reimbursable basis. “The contract is slated for execution by May 31, 2026

Bajaj Consumer Care 

Bajaj Consumer Care on Friday reported a 19.7% year-on-year decline in net profit at Rs 37.1 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, Bajaj Consumer Care posted a net profit of Rs 46 crore, the company said in a regulatory filing. The company’s revenue from operations dipped 9% to Rs 245.9 crore against Rs 270.2 crore in the year-ago period.

Bank of Baroda  

Bank of Baroda announced that it would hike lending rates by 5 bps for 3-month, 6-month, and 1-year tenures from August 12, 2024. With this latest hike in the marginal cost of funds-based lending rates (MCLR), EMIs will increase for borrowers.

Jubilant FoodWorks 

Domino’s India franchisee Jubilant FoodWorks on Friday posted a nearly twofold growth in its June quarter profit to Rs 56 crore despite food inflationary pressures. However, the numbers still came in below the Street estimates of Rs 65 crore. Q1 revenue rose nearly 45% year-on-year to Rs 1,933 crore, ahead of Street estimates of Rs 1,608 crore

Inox Wind 

Inox Wind posted a Rs 50 crore profit after tax during the June quarter on account of a surge in income. It had reported a loss of Rs 65 crore in the April-June quarter of the preceding financial year, the company said in an exchange filing.

Amara Raja Energy & Mobility

Amara Raja Advanced Cell Technologies, a wholly owned subsidiary of the Amara Raja Energy & Mobility, has signed a Memorandum of Understanding (MoU) with Piaggio Vehicles Pvt Ltd to develop and supply Lithium Iron Phosphate (LFP) Lithium-Ion (Li-ion) cells and chargers for its electric vehicles (EVs) along with developing cells and battery packs for their upcoming offerings, to be produced locally at Amara Raja’s Gigafactory in Divitipally, Telangana.

Key earnings to watch 

Vodafone Idea, Voltas, Bajaj Hindusthan Sugar, Balrampur Chini Mills, Campus Activewear, Dhanlaxmi Bank, DOMS Industries, Happiest Minds Technologies, Hindustan Copper, Housing & Urban Development Corporation, Indian Railway Finance Corporation, Natco Pharma, National Aluminium Company, NMDC, Olectra Greentech, Senco Gold, SJVN, Sunteck Realty, and Voltas will announce their Q1 FY25 results on August 12.