Stocks to watch on August 8, 2023: Adani Ports, Coal India, Happiest Minds, Star Health, Tech Mahindra, Emami, others

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“Markets could witness a range-bound trend with a mixed bias ahead of the RBI's monetary policy announcement later this week. The key CPI inflation and IIP numbers to be announced on Friday also hold the key as the RBI's interest rate decision and the key economic readings would give some sense on what could be in store in the near to medium term,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities

Share market outlook

The resilience in the IT majors combined with noticeable buying in the pharma pack is largely fueling the domestic share market recovery, while others are witnessing a mixed trend. Adani Ports, Coal India, Happiest Minds, Star Health, Tech Mahindra among stocks to watch on Tuesday

Stocks to watch on
August 8, 2023

Star Health and Allied Insurance has announced its collaboration with Standard Chartered Bank to enhance its distribution network. After this collaboration, Star Health will make its health insurance products readily accessible to customers via Standard Chartered Bank's extensive distribution network

Star Health shares

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IT services company Tech Mahindra announced in an exchange filing on Monday that Atul Soneja, former CitiusTech and Infosys veteran, would be joining the company as its Chief Operating Officer (COO). Soneja has been working in the IT services sector for over 28 years

Tech Mahindra shares

Home appliances maker Whirlpool of India Ltd reported a 10.6% drop in Q1FY24 profit. The company said consolidated net profit for the three months ended June 30 fell to Rs 748.8 million from Rs 837.3 million a year earlier. Revenue fell 2% to Rs 20.39 billion, hurting the company's operating profit metrics

Whirlpool shares

Emami Ltd reported an 86.5% YoY rise in its consolidated net profit for Q1FY24 to Rs 137.72 crore. The company had reported a profit of Rs 73.83 crore in the year-ago period. Sequentially, consolidated net profit was down 4.6% from Rs 144.43 crore in Q4FY23

Emami shares

Adani Ports, Coal India, Siemens, Hindalco, Linde India, Lloyds Metals, Phoenix Mills, Oil India, Prestige Estates, Aarti Industries, Happiest Minds, Brigade Enterprises, Suven Pharma, Eureka Forbes and others will announce their June quarter results on Tuesday

Q1FY24 results today

Archit Organosys, Castrol India, PowerGrid Corp, Shalby, Sterlite Technologies, Taneja Aerospace & Aviation, and Westlife Foodworld stocks will trade ex-dividend on August 8, 2023

Dividend stocks today

"The short-term trend of Nifty has turned down and one may expect more weakness in the coming days. The next crucial lower supports to be watched around 19,200-19,100 levels in the coming week. Any pullback rally up to 19600-19650 could be a ‘sell-on-rise’ opportunity," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Nifty Outlook

“Bank Nifty has formed an Inside Bar pattern on the daily charts which makes the extremes of the pattern i.e. 45,118 and 44,520 crucial levels from a short-term perspective. A breach of these levels on either side shall lead to a move in that direction. Considering the price and momentum setup, we expect the index to trade with a negative bias and target levels of 44,000 from a short-term perspective," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

Bank Nifty Outlook

Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position


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