Muhurat Trading, Stocks to Watch, Nov 8: Tata Steel, Lenskart, Adani Ent, auto stocks and more under spotlight

The Indian equity market will conduct a special Muhurat Trading session on Sunday, November 8, on account of the auspicious occasion of Diwali Laxmi Pujan.

In India, every year, the stock market opens for a special one-hour trading session known as Muhurat trading, marking the beginning of the new “samvat” or year.

Experts believe that the upcoming Samvat 2083 trading year will hold a cautiously optimistic outlook, where investors will be able to focus and create long-term investment opportunities in the market if they adopt stock-specific action amid the overall market volatility.

Stocks to watch, Nov 8

“We expect to do capex at a run rate of around ₹40,000 crore. So, we may be somewhere in the range of ₹35,000 crore to ₹40,000 crore, which is the rate we expect to continue over the next couple of years,” Manan Vakharia, head of finance at Adani Enterprises, said during the company’s earnings call.

The planned spending comes as the group seeks to scale up businesses built over recent years, including airports and data centres, while bringing its large manufacturing investments closer to commercial operation. “The heavy lifting will be done by airports, data centres and PVC,” Vakharia said.

Revenue from operations grew by 8% during the quarter under review to ₹4,177 crore compared with ₹3,877 crore during the same period last year. This growth was mainly driven by higher volumes in India and the US, higher realisation in India, and the temporary suspension of operations in Kenya.

During the latest July-September quarter, Tata Steel’s consolidated revenues increased to ₹65,436 crore from ₹58,689 crore in the year-ago quarter. The company produced 8.07 million tonnes (MT) and sold 7.92 MT of steel in Q2 FY27 as against 7.73 MT output and 7.91 MT deliveries made in July-September a year ago.

SoftBank, through its affiliate SVF II Lightbulb (Cayman) Ltd, offloaded 2.72 crore shares in 10 tranches at an average price of ₹697.15 apiece on Friday. The combined deal transaction stood at ₹1,896.24 crore. After the transaction, SoftBank’s stake in Lenskart fell to 5.71% from 7.27%.

Maruti Suzuki estimates its deliveries to be over 30,000 units today, compared to 50,000 deliveries in the last Dhanteras, which the company said happened across two days.

Tata Motors expects deliveries of 12,000 units, while Hyundai India’s CEO, Tarun Garg, said the automaker expects to record almost 14% growth in Dhanteras and Diwali deliveries, reaching 16,000 units.

Gold sales by value are estimated to have risen 15-20% to around ₹60,000 crore, supported by a recent decline in gold prices that attracted buyers, PTI reported.

Volumes, however, are likely to remain roughly flat from a year earlier because prices are still well above last year’s levels, said Rajesh Rokde, chairman of the All India Gem and Jewellery Domestic Council (GJC), told the news agency.

The company’s board has already approved the purchase of a few vessels, and tenders were issued several months ago, Director of Finance Anuj Jain said during its second-quarter earnings call. The move marks a potential shift in the IOC’s shipping strategy, which has traditionally relied on a mix of time-charter and voyage-chartered vessels. 

Revenue from operations soared 15.3% to ₹2,706.57 crore in the September quarter compared to ₹2,347.32 crore in the corresponding quarter a year ago.

Voltas’ revenue from Unitary Cooling Products, which includes room AC business, was up 29% at ₹1,566.79 crore. It was at ₹1,215.13 crore in the corresponding period of the preceding fiscal.

The major orders received include stabilised optronic pedestals, communication equipment, navigation systems, night vision devices, software solutions, components, upgrades, spares and services.