Top Stocks to Watch on August 1: Coal India, Infosys, Godrej Prop, Adani Power, Bank of Baroda, Maruti Suzuki, Prestige Estates

Top Stocks to Watch on August 1

Top Stocks to Watch on August 1: On August 1, Thursday BSE Sensex and NSE Nifty, the Indian stock market benchmarks, hit new highs today. The BSE Sensex is trading at Rs 82,000 with an increase of 0.18% while NSE Nifty is trading at Rs 25,000 with an increase of 0.30%.

Let’s take a look at the top stocks to watch today on August 1, 2024:

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Top Stocks to Watch on August 1: Coal India

The leading coal company owned by the government reported that it made a net profit of Rs 10,943 crore in the first quarter. The company's revenue from operations was Rs 36,464 crore.

In the first quarter, the company's EBITDA was 5.6%.

Infosys

The IT company reported that the GST authorities have given Infosys a Rs 32,403 crore notice for services it received from its foreign branches for 5 years from 2017.

CNBC TV 18 reported that Infosys called the notice a "pre-show cause" notice and believed that the GST should not be applicable to these costs.

Godrej Prop

The real estate company reported that in the first quarter of FY25, the company made a combined net profit of Rs 520.05 crore which is much higher than the net profit of Rs 124.94 crore it made in the same quarter last year.

The company’s operating income dropped by 21.5% year-over-year to Rs 739 crore in the first quarter ended on June 2024.

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Top Stocks to Watch on August 1: Adani Power

The company reported that consolidated net profit dropped by 55% to Rs 3,913 crore in the June quarter. In the same quarter, the company made a net profit of Rs 8,759 crore and the company’s income went down Rs 15,474 crore April-June quarter.

In the same quarter last year, the company made a net profit of Rs 18,109 crore.

Bank of Baroda

The public sector lender reported that the net profit rose by 9.5% year-over-year to Rs 4,458 crore in the first quarter. The Bank of Baroda's Net interest income (NII) rose by 5.5% to Rs 11,600 crore from Rs 10,997 crore in the same quarter last year.

Maruti Suzuki

The car manufacturer reported that the company's net profit went up by 47% to Rs 3,650 crore in the June quarter because of cut costs, higher product prices, and gains in foreign exchange.

In the April to June quarter, the automobile company made a net profit of Rs 2,485 crore and the net sales went up to Rs 33,875 crore in the June quarter.

Top Stocks to Watch on August 1: Prestige Estates

The real estate company reported that its net profit dropped by 3.4% year-on-year to Rs 307 crore in the first quarter. In the same quarter, the company made a net profit of Rs 317 crore.

The company income went up by 10.8% to Rs 1,862 crore compared to income of Rs 1,680 crore in the same quarter last year.

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