Stocks To Watch On August 16: Even as the Indian stock market has seen volatility in the recent trading session amid negative global cues, there are individual stocks that need to be watched closely today, Friday, August 16. These include Ola Electric, Hindustan Zinc, Spicejet, Vedanta, Suzlon Energy, Glenmark Pharma, and Hindustan Aeronautics.
Meanwhile, here are some stocks to watch on May 16:
Ola Electric Mobility
After a flat listing, Ola Electric’s shares have given a significant 46 per cent returns in four days. The electric mobility player on Thursday announced its foray into the electric motorcycle segment with the launch of three models and two more in the pipeline.
On Wednesday, Ola Electric Mobility also reported a higher consolidated loss of Rs 347 crore for the April-June quarter of 2024-25 compared to Rs 267 crore in the same period last year. Its revenue from operations for the quarter was Rs 1,644 crore against Rs 1,243 crore in the same quarter of the previous fiscal. However, the company said its automotive segment (E2W) posted a strong improvement in EBITDA (earnings before interest, tax, depreciation and amortisation) margin and is close to EBITDA breakeven.
Vedanta, Hindustan Zinc
Vedanta offload a 3.17 per cent stake in Hindustan Zinc through an offer-for-sale (OFS) scheduled from August 16 to 19. The OFS will start with a base size of 1.22 per cent, with the option to extend the sale by an additional 1.95 per cent if there is strong demand. The floor price for the OFS has been set at Rs 486 per share.
Hindustan Zinc Ltd. (HZL) has announced plans to distribute a second interim dividend for FY25, with the board set to meet on August 20, 2024, to finalize the details. Shareholders eligible to receive the dividend will be determined based on the record date of August 28, 2024. HZL is also preparing for a substantial special dividend payout amounting to Rs 8,000 crore.
Mahindra & Mahindra
Mahindra & Mahindra has rolled out five-door Thar Roxx and may also introduce new products under the brand over the next few years to cater to different sets of customers. It said the company aims to make Thar range leader in the fast-growing mid-sized sports utility vehicle segment over the next 3-5 years
“The opportunity that gets presented to us with the launch of Thar Roxx is that we would like to make it (the Thar portfolio) the number one brand over the next 3-5 years in the more than Rs 12.5 lakh price point,” Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm director Rajesh Jejurikar has said.
Glenmark Pharmaceuticals
The company reported a robust performance in Q1FY25, with net profit surging to Rs 340.27 crore, more than doubling from Rs 149.9 crore in the same quarter last year. Total revenue from operations grew by 7 per cent, reaching Rs 3,244.2 crore. Additionally, operating income saw a rise of 34 per cent, amounting to Rs 588 crore, with an EBITDA margin of 18.1 per cent.
SpiceJet
SpiceJet reported a net profit of Rs 158.6 crore for Q1FY25, reflecting a 19.7 per cent decline compared to the same period last year. The airline’s revenue also dropped by 14.7 per cent to Rs 1,708.24 crore, attributed to a reduction in operations. Although SpiceJet led the industry with a 91 per cent domestic load factor, the airline faced significant financial hurdles, including unpaid leases and delayed salaries.
In a separate development, promoter Ajay Singh is planning to dilute his stake to raise Rs 3,000 crore. Additionally, the Delhi High Court has ordered SpiceJet to ground three leased engines due to overdue rental payments.
Suzlon
Suzlon Energy’s recent acquisition of a 76 per cent stake in Renom Energy Services is poised to enhance its market share and enable expansion into new markets. Renom, the largest multi-brand renewable energy operations and maintenance (OMS) company in India, was acquired from the Sanjay Ghodawat Group (SGG). This strategic move is expected to strengthen Suzlon’s position in the wind energy sector by leveraging Renom’s expertise in operations and maintenance.
Hindustan Aeronautics Ltd
Hindustan Aeronautics posted a strong financial performance in Q1FY25, with consolidated net profit soaring by 76.5 per cent year-on-year to Rs 1,437.14 crore, compared to Rs 814.09 crore in Q1FY24. The company also reported a 17.54 per cent increase in total income, reaching Rs 5,083.85 crore, up from Rs 4,325.29 crore in the same quarter of the previous year.
Q1 Earnings Today
Apart from these, Sharanam Infraproject and Trading, Bheema Cements, Shri Venkatesh Refineries, and Rapid Investments will announce their Q1 FY25 results on August 16.
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