Trading Radar For July 7: Dabur, Adani Enterprises, UltraTech Cement, BEML, And RVNL Are On The Watchlist

Indian equity markets remained rangebound last week. The GIFT Nifty, an early indicator for the Nifty 50 index, indicates a flat to slightly negative start on Monday, tracking weak global cues. At the time of writing, the Gift Nifty was down 0.04%.

Let’s take a look at the stocks in the news on Monday: 

Adani Enterprises: The Adani Group-led firm announced ₹1,000 crore fundraising via a NCD issue. 

UltraTech Cement: The company has denied media reports claiming it is under investigation by the Competition Commission of India (CCI) in a cement cartelisation case. It stated that its subsidiary, India Cements, is involved in the matter and is making the disclosures separately.

Rail Vikas Nigam: RVNL received a ₹143.4 crore Letter of Authorization (LOA) from Southern Railway for upgrading the electric traction system in Salem Division in Tamil Nadu.

Hazoor Multi Projects: Bagged a ₹913 crore order from Apollo Green Energy for executing a 200 MW grid-connected solar photovoltaic project in Gujarat.

BEML: Received $6.23 million export orders from the Commonwealth of Independent States (CIS) region and Uzbekistan for bulldozers and motor graders, respectively.

Jyoti CNC Automation: The board approved the acquisition of 20 acres of land at the Tumakuru Machine Tools Park in Karnataka for future expansion. The acquisition is expected to be funded via internal accruals or debt.

Mahindra Lifespace Developers: Mahindra Lifespace launched a new residential tower at Mahindra Citadel in Pune with a total gross development value of nearly ₹2,500 crore.

Q1 Provisional Updates

Dabur India: The company expects operating profit growth to lag revenue growth in the June quarter marginally. Its home care and personal care divisions are expected to perform well. 

IndusInd Bank: There was a 3.9% drop in net advances to ₹3.34 lakh crore and a 0.3% decline in deposits to ₹3.97 lakh crore, with the CASA ratio falling to 31.49% from 36.67%.

Bank of India: Global business grew 10.3% to ₹15.05 lakh crore, driven by a 9.07% rise in global deposits and a 12% increase in global gross advances.

IDBI Bank: Total business grew 8% to ₹5.08 lakh crore, with deposits up 7% and net advances increasing 9%, though CASA deposits dipped 2% to ₹1.33 lakh crore.

Dhanlaxmi Bank: 15.8% rise in total business to ₹29,054 crore, with gross advances up 17.3% and gold loans jumping 28.1%.

Utkarsh Small Finance Bank: 18.3% growth in total deposits to ₹21,489 crore, while gross loan portfolio rose 2.3% and CASA deposits surged 22.1%.

ESAF Small Finance Bank: 8.7% growth in deposits to ₹22,698 crore, a 3% decline in gross advances, and an improved CASA ratio of 24.80%.

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