Stocks to Watch: Hero Moto, Titan, Indigo, Vedanta, Delta Corp, HPCL
Hero MotoCorp: Enforcement Directorate seized cash and jewellery worth ₹25 crore during raids against top officials of Hero MotoCorp. The law enforcement agency also found "incriminating" documents in the residences and offices of executive chairperson Pawan Kant Munjal and others. This comes a day after ED conducted searches at Chairman Pawan Munjal's premises on August 1 located in Delhi and neighbouring Gurugram, and also registered a case against him under the Prevention of Money Laundering Act (PMLA), reported news agency PTI.
Titan: Titan Company Limited, India's leading consumer lifestyle company, reported revenue growth of 19% in the first quarter of FY 2023-24. The total income for the quarter on a standalone basis was Rs. 10,306 crore, while the consolidated total income reached Rs.
11,070 crore. The EBIT for the quarter showed a slight decline of 2% on both standalone and consolidated levels. Similarly, the PBT before exceptional items decreased by 4% to ₹1,024 crores and 7% to ₹1,002 crores for standalone and consolidated figures, respectively.
The PAT also saw a dip of 2% to ₹777 crores on a standalone basis and 4% to ₹756 crores on a consolidated basis. InterGlobe Aviation: InterGlobe Aviation Ltd, the operator of India’s largest airline IndiGo, reported record quarterly profit and revenue on robust demand for air travel, lower fuel costs, and favourable foreign currency movement. Net profit rose to ₹3,090.6 crore in the quarter ended 30 June from a loss of ₹1,064.3 crore.
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