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The GIFT Nifty index dropped by 216 points, signalling a likely gap-down start for Dalal Street. Stocks to watch include Nestle India and Dr Reddy’s joint venture, ITC’s new Italian subsidiary, Axis Bank’s profit rise, L&T’s revenue growth, and RVNL’s new South Eastern Railway project read more
 "Nestle India, Dr Reddy's Labs, ITC, RVNL, Axis Bank, and Larsen and Toubro shares in focus")
GIFT Nifty index hinted a gap-down start for the stock market on Thursday. Image courtesy: Moneycontrol
The GIFT Nifty index on Thursday, July 25, fell by 216 points, or 0.88 per cent, to 24,198, indicating a likely gap-down opening for Dalal Street. The India VIX, a measure of market volatility, decreased by 7.73 per cent to 11.76.
Ahead of the market opening, here are some stocks to watch:
Nestle India, Dr Reddy’s: Nestle India Ltd. and Dr Reddy’s Laboratories Ltd. have announced a joint venture, named Dr. Reddy’s and Nestlé Health Science Ltd. Nestle will hold a 49 per cent stake in Dr. Reddy’s Nutraceuticals Ltd., a former subsidiary of Dr. Reddy’s Laboratories, with the remainder owned by Dr. Reddy’s.
ITC: ITC Infotech India Limited (I3L), a wholly owned subsidiary, has incorporated a wholly-owned subsidiary in Italy named ITC Infotech Italia (Infotech Italy) on July 23, 2024. Infotech Italy is now a wholly-owned subsidiary of ITC, aimed at expanding and deepening client relationships in Italy.
Axis Bank: Axis Bank reported a 4.1 per cent rise in profit to Rs 6,034.6 crore, compared to Rs 5,797.1 crore in the previous period. Revenue increased by 12.5 per cent to Rs 13,448.2 crore, up from Rs 11,958.8 crore. Gross non-performing assets (NPA) climbed to 1.54 per cent from 1.43 per cent quarter-on-quarter (QoQ), while net NPA rose to 0.34 per cent from 0.31 per cent.
Larsen and Toubro: Construction giant Larsen and Toubro reported a 12 per cent increase in consolidated net profit for the June quarter, reaching Rs 2,786 crore. Its consolidated revenue grew by 15 per cent to Rs 55,120 crore.
RVNL: Rail Vikas Nigam Limited received a Letter of Acceptance from South Eastern Railway for the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning posts (SPs), and sub-sectioning posts (SSPs) in the 2x25KV System on the Rajkhaswan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway. The project is valued at Rs 191.53 crore.
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