Stocks to Watch: LIC, ONGC, Max Health, Hero Moto, Zee Entertainment, M&M

A likely positive start awaits the Sensex and Nifty indices on Tuesday amid firm domestic cues. India’s retail inflation in July came in at its lowest in five months at 6.71 per cent. The wholesale inflation data will guide market sentiment today.

At 7:30 am, the SGX Nifty futures were quoting at 17,850, up around 140 points from Nifty futures’ previous close.

That said, here are some stocks that will likely be see some market action today:

Jhunjhunwala stocks in focus: Shares of companies owned by Rakesh Jhunjhunwala will be under the limelight on Tuesday following the demise of the ace investor. Titan, Star Health Insurance and Metro Brands are the stocks with highest exposure in terms of market value.

M&M: On India’s 75th year of Independence on Monday, Mahindra & Mahindra (M&M) took the wraps off its five electric SUVs. The auto giant also showcased a new electric vehicle (EV) platform INGLO at the company’s newly-established Mahindra Advanced Design Europe (MADE) at Oxfordshire in the UK. Read here

Besides, the company and Volkswagen Group has announced that they have expanded their cooperation and signed a term sheet, under which the German automaker will supply electric vehicle components to the Indian automaker.

Max Healthcare: American private equity major KKR and Co will sell up to 26.83 per cent in Max Healthcare Institute for Rs 9,416 crore via block deals on Tuesday. The offer, managed by Jeffries India and Kotak Securities, India, will mark the exit of KKR from the company. According to the terms of the transaction, the shares will be sold at Rs 350 to Rs 362 a share — a discount of 3.29 per cent to its closing price on Friday. Read more

Life Insurance Corporation of India: State-owned insurance behemoth reported a net profit of Rs 682.88 crore in the April-June quarter (Q1) of FY23, driven by its non-par business. In the corresponding period a year ago, the insurer’s profit was a mere Rs 2.94 crore. But these numbers are not comparable because the corporation was ascertaining its policy liabilities annually until FY21. Read here

Oil and Natural Gas Corporation: The oil and gas producer on Friday reported a tripling of net profit in the June quarter as it earned record prices before the government slapped a tax on windfall profits arising from a global rally in energy rates. Oil and Natural Gas Corporation’s (ONGC) standalone net profit at Rs 15,205.85 crore, or Rs 12.09 per share, in April-June, compared to Rs 4,334.75 crore, or Rs 3.45 a share, in the same period a year back. Read more

Hero MotoCorp: Hero MotoCorp reported a year-on-year (YoY) increase of 71 per cent in net profit during the April-June quarter on higher sales of motorcycles and scooters as well as last year’s low base. Volumes in the first quarter of FY22 were impacted due to the second wave of Covid. Read here

Zee Entertainment Enterprises: Zee Entertainment on Friday reported a 48.94 per cent fall in consolidated net profit to Rs 106.60 crore for the quarter ended June 30, 2022 (Q1), due to challenging macroeconomic conditions, the company said. The broadcaster had reported a net profit of Rs 208.78 crore in April-June last year. Revenue during the quarter under review stood at Rs 1,879.53 crore versus Rs 1,808.56 crore reported in the year-ago period. Read more

Muthoot Finance: The gold financing company posted a net profit of Rs 802 crore during the first quarter of 2022-23, down 17 per cent from Rs 971 crore during the first quarter of 2021-22 (in terms of loan portfolio). Total income for the quarter under review was seen down by 8 per cent to Rs 2,509 crore as against Rs 2,715 crore during the same quarter in 2021-22. Read here

BEML: BEML will soon list its land holding company on the exchanges after receiving the corporate ministry’s approval, helping efforts for the privatisation of the defence public sector undertaking (PSU). Read here

Aditya Birla Fashion and Retail: The company is looking at FY23 with cautious optimism and the company is on a growth trajectory with a digitally and structurally transformed business, its Chairman Kumar Mangalam Birla has said. Read more

Indiabulls Real Estate : The company has cut its net debt by 54 per cent to Rs 464 crore during the three months ended June, compared to the March quarter. Besides, the merger with the Embassy Group is in the final stage of National Company Law Tribunal (NCLT) review, according to an investor presentation by Indiabulls Real Estate Ltd (IBREL). Read here

Apollo Tyres: The tyre maker clocked a 49 per cent year-on-year growth in consolidated profit at Rs 190.7 crore for the quarter ended June FY23 on low base.

Dhani Services: The company posted a consolidated loss of Rs 103.91 crore for the quarter ended June FY23, narrowing from loss Rs 192.4 crore in corresponding period last fiscal, supported largely by a sharp decline in impairment on financial assets, but impacted by lower revenue from operations that declined 19 percent YoY to Rs 246.4 crore during the quarter.

Sun TV Network: The company reported a 35.3 per cent year-on-year growth in consolidated profit at Rs 494 crore for the quarter ended June FY23 driven by operating income and top line growth.

Wockhardt: The company recorded consolidated loss of Rs 75 crore for the quarter ended June FY23, against loss Rs 7 crore in year-ago period. Revenue fell 31 per cent to Rs 595 crore compared to year-ago period.

Varroc Engineering: The company posted loss of Rs 3.88 crore for the quarter ended June FY23, narrowing loss from Rs 16.36 crore in year-ago period, aided by strong operating income and top line growth.

Dilip Buildcon: The road developer has posted consolidated loss of Rs 55.1 crore for the quarter ended June FY23, against profit of Rs 32.86 crore in year-ago period, but sequentially the loss widened from Rs 41.09 crore in previous quarter on weak operating performance.

Elgi Equipments: The company reported a 305 per cent year-on-year growth in consolidated profit at Rs 48.7 crore for the quarter ended June FY23 driven by low base and strong operating performance.

Astral: The company recorded a 25 per cent year-on-year increase in consolidated profit at Rs 93.80 crore for the quarter ended June FY23 despite higher input cost, partly aided by low base.

Aegis Logistics: The logistics company reported a 55 per cent year-on-year increase in consolidated profit at Rs 103.37 crore for the June FY23 quarter. Revenue from operations increased 230 per cent to Rs 2,235.5 crore compared to year-ago period.

Bajaj Healthcare: The company reported a 37.5 per cent year-on-year decline in profit at Rs 12.02 crore for the quarter ended June FY23 impacted by weak operating income and lower top line. Revenue fell 7.3 per cent to Rs 172 crore compared to year-ago period.

Ahluwalia Contracts (India): The company reported a 8.6 per cent year-on-year increase in consolidated profit at Rs 37.77 crore for the quarter ended June FY23 and its revenue from operations grew by 5 per cent to Rs 609.25 crore compared to year-ago period.

Hinduja Global Solutions: The company clocked a 869 per cent year-on-year increase in consolidated profit at Rs 73.26 crore for the quarter ended June FY23, driven by healthy other income, and low base in Q1FY22 due to exceptional loss. Revenue grew by 14 per cent to Rs 912 crore compared to year-ago period.

Stocks under F&O ban: Tata Chemicals, Balrampur Chini Mills, and Delta Corp.