Benchmark equity indices witnessed a sharp recovery on Wednesday after three consecutive days of decline following a rally in global markets and value-buying in metal, IT and oil stocks at lower levels.
The NSE Nifty 50 jumped 304.95 points or 1.27 per cent to 24,297.50
Benchmark equity indices witnessed a sharp recovery on Wednesday after three consecutive days of decline following a rally in global markets and value-buying in metal, IT and oil stocks at lower levels.
The BSE Sensex rallied 874.94 points or 1.11 per cent to settle at 79,468.01. The NSE Nifty 50 jumped 304.95 points or 1.27 per cent to 24,297.50. All sectors ended in green with oil & gas, pharma and metals being top gainers.
"Global factors & headwinds are likely to persist which could continue to impact Indian markets over the next few days. Nifty saw a relief rally today, but volatility cannot be ruled out. All eyes will be on RBI policy outcome on Thursday where the committee is expected to maintain the interest rate. Hence, interest-sensitive sectors and stocks would be in focus," says Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services Ltd.
Here are the key stocks to watch on August 8:
Godrej Consumer Products: The company reported a 41.36 per cent jump in profit after tax (PAT) at Rs 450.69 crore for the April-June quarter of FY25 compared to Rs 318.81 crore in the year-ago period. Total revenue in the reported quarter came in at Rs 3,331.58 crore as against Rs 3,448.91 crore in the corresponding quarter last fiscal.
Abbott India: The pharma company reported a 13 per cent year-on-year growth in net profit to Rs 328 crore for the June quarter of FY25 compared to Rs 290 crore in the year-ago quarter. Abbott’s revenue grew 5.3 per cent to Rs 1,557.6 crore as against Rs 1,479 crore in the corresponding quarter of previous fiscal year.
Apollo Tyres: The company posted a net profit of Rs 302 crore for June quarter of FY25, down 24 per cent YoY compared to Rs 397 crore in the year-ago period. Revenue from operations for the reported quarter stood at Rs 6,335 crore, as against Rs 6,245 crore in the year-ago period.
NTPC: The power transmission company’s subsidiary NTPC Renewable Energy has launched the first 60 MW phase of its 150 MW Gujarat Solar PV project in Radhanpur, Gujarat, bringing NTPC’s total installed and commercial capacity to 76,134 MW.
Godfrey Phillips: The cigarette maker reported a 23.9 per cent YoY decline in net profit at Rs 223.4 crore for the April-June quarter compared to Rs 293.5 crore in the year-ago period. The company’s revenue grew 12 per cent to Rs 1,158.2 crore compared to Rs 1,034.1 crore in the corresponding period of previous fiscal.