Overnight Digest: Stocks to keep an eye on August 2
Watch out for these stocks for Tuesday's trading session
On Monday, the domestic equity markets commenced the week on a positive note and ended with gains of nearly one per cent. Supportive global cues coupled with buying across sectors pushed the benchmarks to end higher.
Sensex was up 545.25 points or 0.95 per cent at the 58,115.50 level, and the Nifty was up 181.70 points or 1.06 per cent at 17,340.
Apart from pharma, all the sectoral indices ended higher with auto, energy, and media emerging as Top Gainers. The broader market indices, midcap and Smallcap also ended 1.7-1.8 per cent higher.
Watch out for these stocks for Tuesday's trading session -
Intellect Design Arena - Intellect Global Consumer Banking (iGCB) announced a strategic partnership with VMware to accelerate the shift to digital for financial institutions across the globe. The partnership and establishment of a Cloud Centre of Excellence (CCOE), is a joint vision by iGCB and VMware to make cloud-based services more accessible & quicker for banks to drive their digital transformation. The shares of Intellect Design Arena closed 0.81 per cent higher during Monday's trading session.
Varun Beverages - The shares of Varun Beverages were seen outperforming, zooming more than 4 per cent in an otherwise flat market. The company's revenue from operations (net of excise/GST) grew by 102 per cent on a YoY basis to Rs 4,954.8 crore, on account of robust volume growth over last year and higher realisation on a consolidated basis. On the other hand, PAT increased by 151.6 per cent to Rs 8,02 crore from Rs 318.8 crore driven by high growth in revenue from operations and improvement in margins.
Paper stocks - The shares of paper manufacturers expected the sector to report solid earnings for the quarter that ended June 30, 2022, following the stellar performance of one of the top player, JK Paper. It reported a more than 100 per cent increase in consolidated revenue to Rs 1,508.1 crore for the quarter, aided by strong demand and pricing environment for paper makers. The company’s net profit nearly tripled to Rs 264 crore in the June quarter.
Mahindra & Mahindra – The shares of Mahindra & Mahindra Ltd (M&M) hit an all-time high on Monday after it recorded 1,00,000 bookings for the all-new Scorpio-N within 30 minutes of booking commencement on Saturday. The rush has translated into a book value of Rs 18,000 crore on an ex-showroom price basis. The firm asserted that the enthusiasm for the SUV was attractive and it recorded 25,000 bookings within the first one minute. The shares of M&M climbed more than 6 per cent and closed at Rs 1,234.5 per share.