Auto stocks: Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for July starting from today, 1 August 2023.

Reliance Industries (RIL): RIL and Brookfield Asset Management have signed a Memorandum of Understanding (MoU) to explore opportunities for manufacturing renewable energy and decarbonization equipment in Australia. The objective of the MoU is to expedite and mitigate risks in Australia's energy transition by facilitating local production of clean energy equipment, including PV modules, long duration battery storage, and wind energy components.

Maruti Suzuki India: The auto major's standalone net profit zoomed 145.37% to Rs 2,485.1 crore in Q1 FY24 as against Rs 1,012.8 crore in Q1 FY23. The growth in profitability was on account of larger sales volume, improved realization, cost reduction efforts and higher non-operating income. The vehicle manufacturer registered its highest-ever quarterly net sales at Rs 30,845.2 crore in the quarter ended 30 June 2023, up 21.98% YoY.

Power Grid Corporation of India: The company's consolidated net profit fell to Rs 3,597.16 crore in Q1 FY24 as against Rs 3,801.29 crore posted in Q1 FY23. Total income rose to Rs 11,257.60 crore in Q1 FY24 from Rs 11,168.54 crore recorded in Q1 FY23. The company's board recommended issue of bonus shares in the ratio of one bonus share for three shares held.

Mahindra & Mahindra (M&M): The company is setting up an EV battery testing facility at Mahindra Research Valley (MRV), in Chengalpattu and a crash test facility at Mahindra SUV Proving Track (MSPT) SIPCOT, in Cheyyar, in Tamil Nadu.

Adani Transmission: The power transmission company's consolidated net profit jumped 8% to Rs 182 crore in Q1 FY24 as compared with Rs 168 crore in Q1 FY23. Revenue from operations increased by 19% to Rs 3,622 crore in Q1 FY24 as compared with Rs 3,049 crore in Q1 FY23.

Blue Star: A meeting of the board of directors of the company is scheduled on 03 August 2023 to consider the proposal for raising of funds.

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