Top 10 stocks for today – 18th July 2024

18 Jul 2024 , 09:07 AM

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

Asian Paints: India’s top home decor business reported a 7% volume increase in the June quarter, consistent with a market poll of 6-9%. The company posted a net profit of ₹1,187 Crore in the June quarter.

LTIMindtree: In the first quarter of 2024, the IT services company’s net profit decreased by 1.5% to ₹1,134 Crore from the previous year. In the same quarter, it reported a net profit of ₹1,152 Crore.

L&T Finance: The company posted an all-time high net profit of ₹685.3 Crore for the first quarter ending June 30, 2024, up 29% year on year. In the same quarter, it had a net profit of ₹530.9 Crore. The company’s revenue climbed by 17.4% to ₹3,784.4 Crore from ₹3,223.3 Crore in the previous fiscal year.

Zee Entertainment: The company plans to raise $239 million (1,997 Crore) by issuing Foreign Currency Convertible Bonds. The FCCBs will have a 10-year tenor and a 5% coupon rate. The FCCBs will be distributed to Resonance Opportunities Fund, St. John’s Wood Fund Ltd, and Ebisu Global Opportunities.

IREDA: The company stated that it has received in-principle approval for an equity investment of up to 10% each in GMR Upper Karnali Hydro Power Ltd, Nepal, and Karnali Transmission Company Pvt Ltd, Nepal, in collaboration with SJVN Ltd, to establish a 900 MW Upper Karnali hydroelectric power project in Nepal.

Glenmark Pharma: The medication company says it gained final FDA approval for Topiramate capsules USP, 15 mg and 25 mg. These capsules are used to treat epilepsy and are also referred to as anti-epileptic drugs. According to IQVIA data through May 2024, the capsules generated about $21.9 million in annual sales in the US market.

Techno Electric & Engineering: The company’s board of Directors approved a Qualified Institutional Placement (QIP) at 1,506.58 per share to raise 1,250 Crore, as reported. ICICI Securities manages the QIP and serves as the initiative’s sole banker.

Adani Green Energy: The company presented its Q1 update, with operating capacity rising 31% year on year to 10,934 MW from 8,316 MW. Energy sales also increased significantly, by 22% year on year to 7,536 million units from 6,023 million.

TV18 broadcast: The company reported a 3% year-on-year fall in consolidated revenue to ₹3,069 Crore for the first quarter ending June 30, 2024. In the same quarter, it had a combined revenue of ₹3,176 Crore. TV18 experienced an operating EBITDA loss of ₹109 Crore, compared to ₹54 Crore in the same period last year.

KEC International: The RPG Group company has received fresh orders totaling ₹1,100 Crore for transmission and distribution (T&D) projects in India, the Middle East, Australia, and the Americas. The Power Grid Corporation of India has placed orders for a 765 kV transmission line and a 765 kV GIS substation in India, as well as a 132 kV transmission line in the United Arab Emirates.

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