Top 10 stocks for today – 31st July, 2024

31 Jul 2024 , 09:19 AM

Here are some of the stocks that may see significant price movement today.

Tata Consumers Products: Tata Consumer Products Ltd (TCPL) reported a 14.34% decline in consolidated net profit to ₹289.25 crore for the first quarter ended June 2024, due to exceptional items and a reduced share of profits from associates and joint ventures.

GAIL: GAIL (India) Ltd., the country’s largest gas transportation and distribution company, reported a 77.5% increase in net profit for the June quarter, reaching ₹3,183.35 crore compared to ₹1,792.99 crore in the same period last year.

Torrent Power: Torrent Power reported an 87% increase in consolidated net profit to ₹996.34 crore for the June quarter of FY25, driven by higher revenues. Total income rose to ₹9,110.02 crore from ₹7,413.32 crore. The board also approved selling 100% equity shares of Torrent Electricals Private Ltd (TEPL) to Torrent Investments Private Ltd (TIPL) for ₹85 crore.

Jindal Stainless: Jindal Stainless Ltd. (JSL) reported a 12% decline in consolidated net profit to ₹646.07 crore for the June quarter, down from ₹737.58 crore in the same period last year, primarily due to lower income. Total income decreased to ₹9,480.50 crore from ₹10,227.20 crore in the April-June 2023-24 period, while expenses dropped to ₹8,593.13 crore from ₹9,279.15 crore a year ago.

Castrol India: Castrol India Limited reported a marginal 3% growth in profit after tax (PAT) to ₹232 crore for the June 2024 quarter. The company’s revenue from operations rose by 5% to ₹1,398 crore, compared to ₹1,334 crore in the same quarter of the previous year.

Navin Florine: The fluorochemicals maker reported a 16.8% year-on-year decline in net profit to ₹51.2 crore for the first quarter ending June 30, 2024, compared to ₹62 crore in the same quarter last year. Revenue increased by 6.6% to ₹523.7 crore from ₹491.2 crore in the previous year’s corresponding period.

Vedanta: The mining major announced on Tuesday that 75% of its secured creditors have approved its plan to seek clearance from stock exchanges and file its demerger scheme with the National Company Law Tribunal (NCLT).

Dixon Tech: The homegrown contract electronics manufacturer saw a 108% increase in net profit in Q1 FY25, rising from ₹67.19 crore to ₹139.70 crore, with revenue also up 101% from ₹3,271.50 crore to ₹6,579.80 crore compared to the same quarter last year.

Indus Towers: Indus Towers, a leading telecom infrastructure company, reported a 42% rise in consolidated profit, reaching ₹1,925.9 crore in the first quarter ending June 30, 2024, up from ₹1,347.9 crore in the same period last year. The company’s consolidated revenue from operations increased by approximately 4% to ₹7,439.4 crore, compared to ₹7,132.4 crore in the June 2023 quarter.

South Indian Bank: The bank’s board has given the green light to raise up to ₹750 crore through a Qualified Institutional Placement (QIP) or an alternative method.