Top Stocks to Watch on August 7: Tata Power, Chambal Fertilisers, SBI, PB Fintech, Lupin, PI Industries, JM Financial, Suzlon Energy, Linde India

Top Stocks to Watch on August 7: On August 7, the stock market after experiencing its worst day on Monday stayed in a better position today.

At 9:15 am, GIFTY Nifty futures were trading at Rs 24,343 which is up by 0.90%, which is a good start for Indian investors.

The Asian market started the day negative, Nikkei in Japan was down 2.18 percent, and the ASX200 Australia was down 0.38 percent. However, Korea's Kospi recorded an upward trend, it rose by 0.80%.

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Let’s take a look at the top stocks that you should watch today to gain higher returns.

Tata Power

The power company reported that its net profit went down by 0.2% year-on-year to Rs 970.9 crore in the June quarter. Last year, in the same quarter the company made a net profit of Rs 972.5 crore.

Chambal Fertilisers

The Indian agrochemicals manufacturer reported that its net profit rose by 32.4% year-on-year to Rs 448.3 crore in the June quarter.

Meanwhile, in the same quarter last year, the company made a net profit of Rs 338.6 crore. The agrochemical company revenue went down by 11.7% to Rs 4,933.2 crore from Rs 5,589.3 crore in the same period of the previous year.

SBI

The public sector lender reported that on August 28 Challa Sreenivasulu Setty will be chosen as the chairman of the State Bank of India for a three-year term and Rana Ashutosh Kumar Singh will be appointed as the Managing Director.

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PB Fintech

The company reported that its net profit rose To Rs 60 crore in the first quarter from Rs 11.9 crore in the corresponding period last year.

The company revenue went up by 51.8% to Rs 1,010.5 crore in the first quarter. Last year, in the same quarter the company made a revenue of Rs 665.6 crore.

Lupin

The pharmaceutical company reported that its net profit rose by 77.2% to Rs 801.3 crore in the first quarter ending in June from Rs 452.3 crore in the same quarter last year.

The company’s revenue also increased by 16.3%, from Rs 4,814 crore to Rs 5,600.3 crore.

Bosch's profit rose by 13.8% to Rs 465.4 crore from Rs 409 crore and its revenue also went up 3.8% to Rs 4,316.8 crore.

PI Industries

The agri-sciences company reported that its net profits went up by 17.2% from Rs 382.9 crore to Rs 448.8 crore and its revenue went up by 8.3% to Rs 2,068.9 crore.

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JM Financial

The company told the stock markets that the special audit that the Reserve Bank of India had started on its subsidiary JM Financial Products is now over and steps are being taken to fix the problems. But it was still allowed to pay its existing loan accounts via normal collection and recovery methods.

Suzlon Energy

The company reported that the board of directors has given a green signal to the purchase of 22,80,000 equity shares which is 76% of Renom Energy Services' equity share capital. However, this deal is valued at Rs 660 crore which will make Renom Energy Services a subsidiary of Suzlon Energy.

Linde India

The company reported that it's net profit was increased by 13.8%, from Rs 99.88 crore to Rs 113.7 crore. However, it's revenue went down by 9.4%, from Rs 721 crore to Rs 653.2 crore.

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