Stocks to Watch on Wednesday
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Three companies are set to remain in focus after strong earnings, a fresh order win and a manufacturing expansion announcement.
✨ Key Takeaways
Indian equity benchmarks ended lower on Tuesday, August 4, snapping a four-session winning streak as investors booked profits ahead of the Reserve Bank of India's monetary policy decision and monitored developments surrounding the U.S.-Iran talks.
The Nifty 50 declined 159.40 points, or 0.64 per cent, to close at 24,614.90, while the Sensex fell 210.07 points, or 0.27 per cent, to settle at 78,428.96.
Against this backdrop, the following stocks are likely to remain in focus on Wednesday.
Veerhealth Care informed exchanges that it has received an order worth approximately Rs 526.84 lakh from one of India's fast-moving consumer goods (FMCG) companies for the supply of skincare products.
The company said the order is expected to provide a meaningful boost to its revenue and strengthen its business pipeline. It expects to complete execution of the order within 45 days.
The order also reflects continued demand for the company's skincare manufacturing capabilities and could support turnover growth over the coming quarters.
2. FSN E-Commerce Ventures Ltd (Nykaa)
FSN E-Commerce Ventures, the parent company of Nykaa, reported a strong set of quarterly numbers, led by healthy growth across revenue, profitability and margins.
The company's consolidated gross merchandise value (GMV) increased 34 per cent year-on-year to Rs 5,590 crore. Revenue from operations rose 29 per cent to Rs 2,782 crore, while gross profit climbed 33 per cent to Rs 1,276 crore.
EBITDA increased 68 per cent year-on-year to Rs 236 crore, with the EBITDA margin expanding to 8.5 per cent from 6.5 per cent in the corresponding period last year.
Net profit stood at Rs 80 crore, marking a 226 per cent year-on-year increase, indicating continued improvement in operating performance and profitability.
SJS Enterprises announced that its wholly owned subsidiary, SJS Decoplast Private Limited, has completed the establishment of a new manufacturing facility at Ranjangaon, Pune, Maharashtra.
The company said the facility is ready to commence commercial operations and forms part of its ongoing capacity expansion programme.
According to the company, the new plant is expected to enhance the production capacity of the subsidiary and support future business growth by catering to rising customer demand.
Disclaimer: The article is for informational purposes only and not investment advice.