Top Stocks to Watch On August 16: SpiceJet, Hindustan Zinc, Hinduja Global, Ola Electric, Glenmark Pharmaceuticals, Tata Steel, Max India

Top Stocks to Watch On August 16

Top Stocks to Watch On August 16: On Friday, August 16, Indian Benchmark indices Bse Sensex and Nse Nifty 50 started the day in the green. Bse Sensex was up by 0.82% and was trading at Rs 79,754 while Nse Nifty 50 was hiked by 0.80% and was trading at Rs 24,335.

However, there are some top stocks that you should watch today, some of them are SpiceJet, Hindustan Zinc, Hinduja Global, Ola Electric, Glenmark Pharmaceuticals, Tata Steel, and Max India.

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Let's take a look at the financial status of these companies:

SpiceJet

SpiceJet reported that its net profit in the first quarter went down by 19.9% to Rs 158.2 crore against Rs 197.6 crore in a year ago period.

The company’s revenue also went down by 14.7% to Rs 1,708 crore from Rs 2,003.6 crore in the corresponding period last year. However, the company’s EBITA rose by 5.5% to Rs 650 crore from Rs 616 crore year over year.

Hindustan Zinc

The metal and mining company reported that its promoter Vedanta has decided to sell a 3.17% stake in Hindustan Zinc through OFS which will be issued from August 16 to August 19.

The base size for the offer for sale is 1.22%, and the oversubscription choice is 1.95%. The shares are set at a price band of Rs 486 per share and will be open for subscription to non-retail investors on August 16 and to retail investors on August 19.

Hinduja Global

The technology-led solution provider company reported in the June quarter the company’s net profit made a net profit of Rs 165.6 crore against Rs 14.9 crore in a year ago period.

The company’s revenue also went up by 3.7% year-over-year to Rs 1,091.9 crore.

Ola Electric

Ola Electric incurred a net loss of Rs 347 crore against a net loss of Rs 267 crore. Revenue went up by 3.7% year-over-year to Rs 1,091.9 crore.

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Glenmark Pharmaceuticals

The pharmaceutical company reported that in the June quarter, the company’s net profit rose by 127% to Rs 340.27 crore against Rs 149.93 crore in the same quarter last year.

The company reported that the growth was possible because of the high demand for its drugs and a drop in the production cost.

The company reported that its revenue from operations rose by 6.9% to Rs 3244.19 crore against Rs 3036.07 crore in the corresponding period last year. The company’s EBITDA went up by 34.5% to Rs 588.3 crore.

Tata Steel

Tata Steel reported that the company obtained 115.92 crore shares which are worth $182 million (Rs 1,528.24 crore) of its Singapore-based subsidiary, T Steel Holdings Pte.

Through this, Tata Steel wants to improve its international existence and operational efficiency.

Max India

Max India reported that the company incurred a net loss of Rs 27 crore against a loss of Rs 12.2 crore in a year-ago period.

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