Overnight Digest: Stocks likely to be in focus on August 1

Keep an eye on these stocks for Monday's trading session

On Friday, investors piled up the metal and IT shares, coupled with some major Sensex stocks like Reliance Industries, HDFC twins, Sun Pharma, and Bajaj Finance. The benchmark indices ended the trading session near the day's high level, closing the week on a green note. 

Sensex gained 712 points, or 1.25 per cent, to end at the 57,570 level, while the Nifty50 ended at the 17,158 level, up 229 points or 1.35 per cent.

Sectorally, the Nifty Metal index surged 4 per cent, while the Nifty IT index gained 2 per cent. The only losers were the public sector banks with the Nifty PSB index down 1.2 per cent.

Keep an eye on these stocks for Monday's trading session: 

Sun Pharma- The shares of Sun Pharmaceutical Industries rose more than 3 per cent on Friday after the company posted a 42.7 per cent jump in its Q1FY23 net profit at Rs 2,061 crore versus Rs 1,444.2 crore while its revenue was up by 10.7 per cent at Rs 10,762 crore versus Rs 9,718.7 crore, YoY. Gross sales stood at Rs 106.44 crore, a growth of 10.1 per cent over the first quarter of FY22, last year. Excluding COVID product sales for Q1 last year, the overall sales are up by about 14 per cent.  

Granules India - The shares of Granules India are likely to be in focus in the upcoming trading sessions as the meeting of its board of directors is scheduled to take place on August 9, 2022, to consider & approve the unaudited financial results for the first quarter ended on June 30, 2022, as well as to consider a proposal for buyback of the company’s equity shares. The shares of Granules India closed 1.05 per cent lower on Friday.  

TVS Motor - The shares of TVS Motor hit an all-time high of Rs 953.05, soaring 10 per cent on Friday. The spike came after the company posted a consolidated net profit of Rs 305.37 crore during Q1FY23, owing to an increase in the sales volume as against a loss of Rs 10.55 crore in Q1FY22. Meanwhile, the revenue from operations zoomed 57 per cent on a YoY basis at Rs 7,316 crore when compared to Rs 4,689 crore during the same period of the last financial year. 

Ashok Leyland - In the first half of the trading session, ahead of Q1FY23 results, the shares of Ashok Leyland hit an over four-year high at Rs 154.45. The shares gained up to 6 per cent. During the second half, Ashok Leyland reported a net profit of Rs 68 crore in the quarter that ended June 2022 against a loss of Rs 282.3 crore in a year ago period. The revenue of the company stood at Rs 7,223 crore versus Rs 2,951 crore on a YoY basis. Its shares moved downwards towards the end of the trading session.