Stocks to Watch: Tata Consumer, Adani Wilmar, Indian Oil and Others in News

Benchmark equity indices moved marginally up in volatile trade to settle at record high levels on Tuesday, extending the gaining streak to third consecutive day on the back of buying in Tata Motors and HDFC Bank.

The BSE Sensex gained 99.56 points or 0.12 per cent to close at 81,455.40. The NSE Nifty jumped 21.20 points or 0.09 per cent to settle at an all-time closing high of 24,857.30. Broader market outperformed with Nifty Midcap 100 up 0.5 per cent and Smallcap 100 up 0.9 per cent. Sector-wise it was a mixed bag with buying seen in Consumer Durables, Oil & Gas, Auto, and Realty.

“Oil & Gas sector was in momentum after crude oil prices slipped to a 2-month low as global demand concerns outweighed rising geopolitical tension in the Middle East. Nifty consolidated at higher levels, while stock-specific actions continued in the market. 25,000 zone has been elusive for the last 2 days and once Nifty crosses this level, it would be a euphoric moment for equity markets. Investors would track US consumer confidence and Jolt Job Opening data ahead of the US Fed policy meeting outcome on Wednesday late evening,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Here are the key stocks to watch on July 31:

Tata Consumer Products: The FMCG major reported a 14.34 per cent decline in consolidated net profit to Rs 289.25 crore compared to Rs 337.71 crore in the year-ago period. Its revenue from operations increased 16.32 per cent to Rs 4,352.07 crore in the June quarter as against Rs 3,741.21 crore in the corresponding quarter of previous fiscal.

Adani Wilmar: The company reported a consolidated net profit of Rs 313.20 crore for Q1 FY25, compared to a net loss of Rs 78.92 crore in the year-ago period, on the back of higher revenue from cooking oils and other food-FMCG products. The total income increased to Rs 14,229.87 crore during the reported quarter from Rs 12,994.18 crore in the corresponding period of the previous year, according to a regulatory filing. Angshu Mallick, MD & CEO of Adani Wilmar said, "The company's revenue grew by 10 per cent YoY to Rs 14,169 crore. The consumer shift to branded staples is benefiting us significantly".

Indian Oil Corporation: The country’s largest oil firm reported a 81 per cent drop in June quarter net profit to Rs 2,643.18 crore compared to Rs 13,750.44 crore a year-ago, as refinery and marketing margins fell and the firm booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates. While the company earned $6.39 on turning every barrel of crude oil into fuel in the quarter ($8.34 per barrel gross refining margin last year), its pre-tax earnings from downstream fuel retailing businesses slumped 77 per cent to Rs 4,299.96 crore.

Ajanta Pharma:  The drug firm said its consolidated profit after tax (PAT) increased 18 per cent YoY to Rs 246 crore for the June quarter from Rs 208 crore in the year-ago quarter, on account of robust sales across domestic and international markets. Revenue from operations increased to Rs 1,145 crore during the reported quarter as against Rs 1,021 crore in the year-ago period, Ajanta Pharma said in a regulatory filing. Its India sales rose 10 per cent YoY to Rs 353 crore in the first quarter.

Torrent Power: The company reported over 87 per cent rise in consolidated net profit at Rs 996.34 crore for June quarter FY25 as against Rs 532.28 crore for April-June FY24, mainly on the back of higher revenues. Its total income rose to Rs 9,110.02 crore from Rs 7,413.32 crore. The board also approved sale of 100 per cent equity shares of Torrent Electricals Private Ltd (TEPL) to Torrent Investments Private Ltd (TIPL), the holding company, for Rs 85 crore.