Stocks to watch out for on August 3, 2020: Maruti Suzuki, Mahindra & Mahindra, Hero MotoCorp, Indian Oil Corp and Tata Motors
Photo Credit: AFP

The domestic equity market in this coming week will be driven by a host of key developments like RBI monetary policy, macro-economic data release, etc.

At the start of the week, the market will also take cues from July auto sales numbers which signal a recovery in the sector hit hard by COVID-19. With most parts of the country in unlock phase, the automobile industry has performed better in July over the previous month in terms of sales and is now marching towards normalcy in terms of production as well.

Here are some stocks to watch out for:

Maruti Suzuki: Maruti Suzuki, the country's largest passenger car manufacturer, posted total sales of 1.08 lakh units in July, marking a growth of over 88 per cent from the previous month but a fall of one per cent year-on-year. said its domestic sales in July stood at 1,01,307 units as against 1,00,006 units in July 2019 with sales of mini cars comprising Alto and S-Presso jumping 49.1 per cent to 17,258 units compared to 11,577 units in the same month last year. The company further said its sales of compact cars, including models such as Swift, Celerio, Ignis, Baleno and Dzire, however, declined by 10.4 per cent to 51,529 units as against 57,512 cars in July last year.

Mahindra & Mahindra (M&M): Mahindra & Mahindra on Saturday reported 27 per cent jump in its tractor sales at 25,402 units in July. Mahindra & Mahindra on Saturday reported 27 per cent jump in its tractor sales at 25,402 units in July.

Hero MotoCorp: Hero MotoCorp sold 5.14 lakh units of motorcycles and scooters in July, marking a sequential growth of 14 per cent over the previous month and reaching more than 95 per cent of wholesale dispatch numbers in the corresponding month last year. While domestic sales totalled 5.07 lakh as compared to 5.11 lakh in July 2019, exports in July 2020 were 7,563 as against 24,436 in the year-ago period. Motorcycles sales last month were 4.78 lakh and scooters sales added up to 35,843 units as compared to 4.9 lakh and 45,752 year-on-year respectively.

Indian Oil Corp: Indian Oil Corporation Ltd (IOCL) will invest Rs 13,805 crore to set up a plant in Odisha's Paradip to manufacture raw materials for the textile sector, an official told news agency PTI. The project is expected to be completed by 2024. The paraxylene (PX) and purified terephthalic acid (PTA) plant will be integrated with the IOCL's refinery facility in the port town of Jagatsinghpur district.

IRB Infrastructure Developers: IRB Infrastructure Developers Ltd on Sunday said it has received award letter from NHAI for executing a stretch of Vadodara-Mumbai Expressway at a cost of Rs 1,755 crore. With this award, the company's order book now stands at Rs 13,755 crore.

Bharti Airtel and Vodafone Idea: Not satisfied with responses submitted by Bharti Airtel and Vodafone Idea on priority plans, regulator Trai has shot off additional "technical" queries to both the telcos and asked them to explain their stand on August 4, a source told news agency PTI.

Tata Motors: Tata Power on Saturday said it plans to double its consumer base in the distribution business to 10 million over the next five years. With its public-private-partnership with CESU, the company has acquired over 2.5 million consumers in Odisha in addition to the existing consumer base of 2.5 million across its distribution markets including Mumbai, New Delhi and Ajmer, a company statement said.

Bayer Cropscience: Bayer CropScience Ltd on Saturday said it has provided 5,500 litres of Deltamethrin chemical for locust control activities in Rajasthan and Punjab. "Since chemical control measures are highly effective for locust management, Bayer CropScience is supporting the government initiative by providing 5,500 litres of Deltamethrin for locust control activities in the states of Rajasthan and Punjab," a company statement said.

Lupin: Drug major Lupin is recalling 35,928 bottles of a generic antibiotic drug in the US market following unfavourable result in retention samples, the US health regulator said in a report. As per the latest Enforcement Report of the US Food and Drug Administration (USFDA), the Mumbai-based company is recalling Cefdinir for oral suspension USP, 250 mg/5mL, packaged in 60 ml bottles.

(Inputs from Agencies)

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