Stocks to Watch on October 17: GIFT Nifty on the NSE IX traded 5.5 points, or 0.03 per cent, higher at 19,816.50, signaling that Dalal Street was headed for muted start on Tuesday. Here’s a slew of stocks that will be in focus today for various reasons.
Q2 Results to Watch: Happiest Minds Technologies, Himadri Speciality Chemical, ICICI Prudential Life, IIFL Securities, L&T Technology Services, PCBL, Syngene International, Tata Elxsi, Tata Metaliks, TCI Express, VST Industries and Zensar Technologies are few of the prominent companies scheduled to announce September quarter earnings on Tuesday.
ICICI Securities: ICICI Securities reported revenue growth across various business segments. Retail equities and allied revenue stood at Rs701 crore, marking a 39% year-on-year (YoY) increase, within which equity revenue grew by 44% YoY to Rs 270 crore.
HDFC Bank: Announcing its first results after merger, the private sector lender reported a 50.6 per cent year-on-year (Y-o-Y) surge in net profit to Rs 15,976 crore. The merger had a noticeable impact on the bank’s asset quality, which deteriorated because of bad loans among the non-individual loans of the erstwhile HDFC.
Grasim Industries: To raise Rs 4,000 crore through rights issue of shares. The fund raise comes a month after the company announced its plans to enter the paint business under the brand name ‘Birla Opus’ by end of this fiscal year.
Jio Financial Services (JFS): In its first earnings after being demerged from Reliance Industries and listed on the stock exchanges, the company posted a 101.30 per cent growth in net profit at Rs 668.18 crore for the quarter ended September 30 as agasint Rs 331.92 crore in Q1FY24. Total income rose by 46 per cent QoQ (quarter-on-quarter) to Rs 608.04 crore from Rs 414.13 crore, partly helped by a dividend income of Rs 216.85 crore.
Sugar producers: The Centre may consider imposing stock limits on sugar trade if all entities engaged in the business don’t disclose their inventories on the official portal by Tuesday (October 17), a senior official said. Additionally, the government is likely to extend the current restrictions on sugar exports indefinitely after October 31.
SpiceJet: The low-cost airline reached an interim settlement with Engine Lease Finance BV, putting a temporary hold on legal proceedings. As per the settlement terms, SpiceJet is supposed to pay over $2 million to the engine lessor by January.
Ceat: Q2FY24 net profit soared 32-fold to Rs 207.72 crore when compard with Rs 6.40 crore in Q2FY23. The sharp growth was partly aided by a dip in raw material prices. Total income was up 5.5 per cent year-on-year (Y-o-Y) at Rs 3,053.32 crore
Karur Vysya Bank: Net profit rose 51 per cent YoY to Rs 378 crore as against RS 250 crore in the year ago period. Net interest income increased 11.5 per cent YoY to Rs 915 crore.
Bank of Maharashtra (BoM): Q2 net profit surged 72 per cent YoY to Rs 920 crore, while Net Interest Income (NII) expanded 28.9 per cent YoY to Rs 2,432 crore.
Battery makers: The government plans to introduce another production-linked incentive scheme for batteries to bring down cost and boost the adoption of electric vehicles in India, union minister R K Singh said.
Mphasis: Appoints Ayaskant Sarangi, ex-Wipro, as its new Global Chief Human Resource Officer (CHRO). Sarangi will join the Executive Council and report directly to Nitin Rakesh, Chief Executive Officer and Managing Director of Mphasis.
Data Patterns (India): Has entered into a licensing and transfer of technology (ToT) agreement with IN-SPACe. The latter serves as an autonomous nodal agency within the Department of Space (DoS).
Cyient DLM: Net profit more-than-doubled to Rs 14.65 crore in the quarter ended September 2023 when compared with Rs 7.10 crore in Q2FY23. Total income surged 77.7 per cent YoY to Rs 301.12 crore.
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