Stocks in Focus: GIFT Nifty traded down 34.5 points, or 0.18%, at 19,520.5, indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously on Thursday, The NSE Nifty 50 fell 46.40 points or 0.24% to settle at 19,624.70, while the BSE Sensex shed as much as 247.78 points to 65,629.24.
“Amid increasing global political strain, US treasury yield, and underwhelming IT earnings, the domestic market continued to trade with a minor cut. However, some optimism was evident in the equity market given global efforts to stabilize the West Asia conflict, which deescalated crude prices trend. Auto sector stocks outperformed, driven by Q2 results outcome. Investors are closely monitoring the Q2 earnings season, US Fed chair speak and West Asia developments,” said Vinod Nair, Head of Research at Geojit Financial Services.
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Stocks to Watch on October 20, 2023
ITC
The company on Thursday reported a 6.11% rise in consolidated net profit to Rs 4,955.90 crore for the second quarter of FY24. ITC said that it saw a , “Robust growth in FMCG – Others; Segment Revenue up 16.1% YoY to exceed Rs. 5,000 crores in a quarter for the first time; Segment EBITDA margin expanded 325 bps YoY to 11.0%.”
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL
Hindustan Unilever (HUL)
Hindustan Unilever (HUL) on Thursday posted second quarter profit at Rs 2,656 crore, down 0.3% in comparison to Rs 2,665 crore during the corresponding quarter of FY23. It posted total income of Rs 15,806 crore, up 3.6% as against Rs 15,253 crore during the same period last year.
Tata Motors
The company has entered into agreements to acquire 26.79% stake in Freight Commerce Solutions Private through investments in Equity shares and Compulsory Convertible Preference Shares of Freight Commerce Solutions. “Tata Motors and Freight Commerce Solutions Private Limited (‘Freight Tiger’) have today signed a Securities Subscription Agreement (SSA) and a Shareholders Agreement (SHA) for the acquisition of 26.79% stake in ‘Freight Tiger’ for a consideration of Rs 150 Crores. The SSA also includes a provision enabling Tata Motors to further invest Rs 100 Crores over the next two years, at the then prevailing market value,” the company said in a press release.
Natco Pharma
“The United States Food and Drug Administration (USFDA) conducted an inspection of its Pharma Division located in Kothur Hyderabad, India. The inspection was conducted from October 9, 2023, to October 18, 2023, according to the information available on the NSE.
Cyient
The Company posted profit for the second quarter of FY24 at Rs 183.60 crore, up 132.1% in comparison to Rs 79.10 crore during the corresponding quarter of last year. It posted revenue from operations at Rs 1778.50 crore, up 27.4% as against Rs 1396.20 crore during the second quarter of FY23. The Board of Directors of the company also declared an interim dividend of Rs 12 per equity share.
Grasim Industries
The company has received a demand notice of Rs 141 crore for non-payment of stamp duty on a scheme of arrangement between Indian Rayon and Industries Limited from the Collector (Stamps), Registration & Stamp (Anti-Evasion), Special Circle Rajasthan, Jaipur.
Companies scheduled to report their Q2 earnings today;
JSW
Hindustan Zinc
Central Bank of India
Laurus Labs
Poonawalla Fincorp
Kajaria Ceramics
CSB Bank
Glenmark Life Sciences
(With agency inputs.)
