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Top 10 stocks for today - 16th July, 2024

16 Jul 2024 , 08:47 AM

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

HUL: The FMCG company’s board approved the sale and divestiture of its water purifying division to A. O. Smith for ₹601 Crore. HUL’s Home Care segment’s water purification business had a turnover of ₹293 Crore in FY2023-24, making up less than 1% of the company’s overall sales.

Birla Estates: The real estate firm has announced the purchase of a premium five-acre property piece in Gurugram’s Sector 71. The newly-acquired site has a development potential of almost one million square feet and is expected to earn over ₹1,400 Crore.

Lupin: The drug company announced that it has sold its US commercial women’s health specialty business to Evofem Biosciences, Inc, a US biopharmaceutical company focusing solely on women’s health. Lupin’s US commercial women’s health specialty business is principally focused on the sale of SOLOSEC (secnidazole) 2g oral granules.

DEN Networks: Cable TV services provider announced a 6.8% year-on-year growth in net profit to ₹45.5 Crore for the first quarter ended June 30, 2024. In the same quarter, it reported a net profit of ₹42.6 Crore. The company’s revenue from operations decreased by 9.4% to ₹247.5 Crore from ₹273.2 Crore in the same period last fiscal year.

Unichem Laboratories: Unichem Laboratories Ltd reported on Monday (July 15) that the US Food and Drug Administration (FDA) examined its Goa formulation facility from July 8 and July 15, 2024. The inspection concluded with five observations, the most of which were procedural and had nothing to do with data integrity.

Jio Financial: Jio Financial Services Ltd reported a 5.81% drop in year-on-year (YoY) consolidated profit to ₹312.63 Crore in the first quarter of the current fiscal year 2024-25 (Q1 FY25).

HDFC Life Insurance: HDFC Life Insurance’s Q1 FY25 net profit increased 15% year on year to ₹479 Crore, aided by substantial growth in both first-year and renewal premiums. The net profit matched Street expectations. 

Vedanta: On July 15, the business issued its Qualified Institution Placement (QIP) issuance, with a floor price of 461.26 per share.

Eris Lifesciences: Franklin Templeton Mutual Fund purchased an additional 0.8% ownership in the company at an average price of 1,000.04 per share. Meanwhile, Rakesh Shah, a high net worth individual, sold a 1.47% stake at an average price of 1,000.12 a share.

Ujaas Energy: The board has approved a 1:4 bonus issue (one bonus share for every four shares held) and Anurag Mundra’s appointment as a full-time director for a five-year term, subject to shareholder approval.

For feedback and suggestions, write to us at editorial@iifl.com

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