Stocks to Watch: At 7:44 AM, the GIFT NIFTY futures were trading at 24,128 levels, up 10 points, or 0.04%. This suggests that the NIFTY50 will open 92 points lower on Monday, November 11.
On Friday, the US S&P 500 zoomed past 6,000 points to a new record while Treasury yields retreated as investors again cheered Donald Trump's decisive victory, although disappointment about China's latest fiscal support dampened the mood elsewhere.
The S&P 500 index climbed to an intra-day high of 6,012.45 points before pulling back to finish up 0.4%. The Dow Jones Industrial Average climbed 0.6%, and the Nasdaq Composite ended flat.
Back home, the stock market closed lower amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank, and State Bank of India.
Benchmark BSE Sensex declined by 55.47 points, or 0.07%, to settle at 79,486.32.
The NSE Nifty dipped 51.15 points, or 0.21%, to 24,148.20.
Here is a list of stocks that may remain in focus today.
Asian Paints:
Asian Paints on Saturday reported a 43.71% decline in consolidated net profit to ₹693.66 crore for the September quarter, impacted by soft-demand conditions, material price inflation, and a decline in the decorative and coatings business in the domestic market.
Its revenue from operations was down 5.3% to ₹8,027.54 crore in the September quarter. In the year-ago period, it stood at ₹8,478.57 crore.
"On the margin front, soft-demand conditions, product mix, and material price inflation affected margins in Q2," Asian Paints said.
Divi's Labs:
Divi's Laboratories on Saturday reported that its September quarter consolidated profit after tax rose 46.5% year-on-year (YoY) to ₹510 crore for the quarter ended September 2024 on forex gains of ₹29 crore.
The company's revenue rose 22.5% YoY to ₹2,338 crore in Q2 vs. ₹1,909 crore in the corresponding quarter of the previous financial year.
Aurobindo Pharma: Aurobindo Pharma on Saturday reported an 8.6% year-on-year (YoY) rise in net profit to ₹817 crore for the quarter ended September 2024, led by strong sales from Europe and growth markets.
Tata Motors: Tata Motors on Friday, November 8, reported an 11.18% year-on-year (YoY) fall in its consolidated net profit for the quarter ended September 30, 2024 (Q2 FY25) to ₹3,343 crore against ₹3,764 crore registered in the year-ago period. Total revenue from operations came in at ₹101,450 crore, down 3.49% against ₹105,129 crore logged in the September 2023 quarter.
In its earnings release, the auto major said "Tata Motors delivered revenues of ₹101.5K crore (down 3.5%), EBITDA at ₹11.6K crore (11.4%, down 230 bps), and EBIT of ₹5.6K crore (5.6%, down 190 bps) in a challenging external environment.
LIC: State-owned insurer LIC on Friday reported a 3.8% decline in net profit to ₹7,621 crore for the quarter ended September 30, on lower other income. Its net premium income eased to ₹1,19,901 crore in the second quarter of the current fiscal, from ₹1,07,397 crore in the same period a year ago.
Other income of the insurer almost halved to ₹145 crore from ₹248 crore in the same quarter in the previous year.
Orient Cement: CK Birla Group firm Orient Cement Ltd on Friday reported a 90.5% decline in net profit to ₹2.32 crore for the second quarter ended September 2024. The company reported a net profit of ₹24.62 crore for the July-September quarter a year ago.
Its revenue from operations was down 24.5% at ₹544.02 crore during the quarter under review against ₹720.57 crore in the corresponding period a year ago. Total expenses of OCL were at ₹544.47 crore in the September quarter, down 20%.
Ola Electric: Ola Electric Mobility on Friday reported a narrowing of consolidated net loss at ₹495 crore for the second quarter ended September 30, 2024, aided by higher sales. The Bengaluru-headquartered firm had reported a net loss of ₹524 crore in July-September FY24. Revenue from operations rose to ₹1,214 crore from ₹873 crore.
Jupiter Wagons: Jupiter Wagons reported a 9.34% increase in consolidated net profit to ₹89.74 crore in Q2 FY25 as compared to ₹82.07 crore recorded in Q2 FY24. Revenue from operations jumped 14.75% YoY to ₹1,009.04 crore in the quarter ended September 30, 2024.
Q2 earnings today: Several companies are slated to declare their September quarter (Q2 FY25) earnings today. Some of the notable names include UPL Ltd, SML Isuzu, Shree Cement, Parag Milk Foods, ONGC, NMDC, Landmark Cars, KPT Industries, Jubilant FoodWorks, Hindalco,
Britannia Industries, Blue Dart Express, BEML, and Bank of India.
Oil-linked stocks: Oil upstream, downstream, paints and tyre stocks will remain in focus as oil prices extended declines on Monday as the threat of a supply disruption from a US storm eased and after China's stimulus plan disappointed investors seeking fuel demand growth in the world's No. 2 oil consumer.
Both benchmarks (Brent crude futures, and US West Texas Intermediate) fell more than 2% last Friday.
DCX Systems: The company said on November 8 that it has received export orders from M/s. Lockheed Martin Global Inc., USA, for US$ 54,798,120.00 (equivalent to about ₹460.30 crore at an exchange rate of 1 USD = ₹84).
GE Vernova T&D India: The company on Friday reported an over-three-fold jump in profit after tax to ₹144.6 crore for the September 2024 quarter, helped by higher revenue. The company's revenue from operations rose to ₹1,107.7 crore from ₹697.7 crore in the year-ago period.
.png)
