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  5. Stocks to watch on November 18: Waaree Energies, Tata Motors, Hero MotoCorp, IGL, Godrej Properties, Godavari Biorefineries, and more

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Stocks to watch on November 18: Waaree Energies, Tata Motors, Hero MotoCorp, IGL, Godrej Properties, Godavari Biorefineries, and more

Upstox
By Upstox News Desk

4 min read | Updated on November 17, 2024, 19:49 IST

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SUMMARY

Two-wheeler major Hero MotoCorp on Thursday, November 14, said its consolidated profit after tax increased 6% year-on-year (YoY) to ₹1,066 crore for the quarter ended on September 30, 2024, driven by higher sales.

Stock list

WAAREEENER
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The stock market was closed on Friday on account of Guru Nanak Jayanti.

The stock market was closed on Friday on account of Guru Nanak Jayanti.

Stocks to Watch: It was another painful week for Dalal Street as domestic stocks inched lower on Thursday, logging their sixth weekly loss in seven, as worries about a slowdown in consumption added to concerns over earnings moderation and foreign outflows.

The NSE Nifty 50 fell 0.11% to 23,532.7, closing below its 200-day moving average for the first time since April 2023. The BSE Sensex shed 0.14% to end at 77,580.31.

The stock market was closed on Friday on account of Guru Nanak Jayanti.

Both the benchmarks lost about 2.5% for the week. 

Foreign institutional investors (FIIs) offloaded equities worth ₹1,849.87 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth ₹2,481.81 crore, according to exchange data.

Here is a list of stocks that may trade actively in Monday's session. 
Hero MotoCorp: Two-wheeler major Hero MotoCorp on Thursday, November 14, said its consolidated profit after tax increased 6% year-on-year (YoY) to ₹1,066 crore for the quarter ended on September 30, 2024, driven by higher sales.

Revenue from operations rose to ₹10,483 crore for the September quarter as against ₹9,533 crore logged in the year-ago period. 

The company sold 15.2 lakh units of motorcycles and scooters in July-September this fiscal compared with 14.16 lakh units in the same period last fiscal.

Godrej Properties: Godrej Properties has denied allegations of fraud and money laundering, calling them "baseless" and resulting from a dispute with a disgruntled joint venture partner. The company stated in response to an ongoing investigation by the Enforcement Directorate (ED) into a housing project linked to the real estate firm.
Indraprastha Gas Limited: On Friday, Indraprastha Gas Limited (IGL) confirmed a further reduction in domestic gas allocation to CNG retailers, which is expected to impact the company’s profitability adversely.

In a regulatory filing to the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), the company said the revised domestic gas allocation is around 20% lower than the previous allocation. This follows a 21% cut effective October 16.

Tata Motors: According to a top company executive, Tata Motors is expecting passenger vehicle (PV) retail sales to maintain growth momentum in the ongoing quarter, driven by year-end demand.

As per FADA data, festive demand helped PV retail sales rise 32% year-on-year (YoY) to 4,83,159 units in October.

The segment reported a 7% YoY increase to 6,03,009 units during the 42-day festival period this year.

RIL: Reliance Industries Ltd, Viacom 18 Media Private Limited, and The Walt Disney Company on Thursday announced the completion of the impending merger, creating one of India’s largest media and entertainment joint ventures (JV) valued at ₹70,352 crore. Reliance has invested ₹11,500 crore as growth capital in the new venture, reported PTI. 

The merger is expected to fuel the entity's development in digital content, broadcasting, and distribution.

Honasa Consumer: Honasa Consumer, which owns FMCG brands such as Mamaearth and The Derma Co, on Thursday, reported a consolidated loss of ₹18.57 crore for the quarter ended September 30, 2024 (Q2 FY25) on account of inventory correction.

Its revenue from operations was down 6.9% to ₹461.82 crore in the second quarter of this fiscal. It was at ₹461.82 crore in the same period a year ago.

The EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin, reported for the September quarter, was down 6.6%, and "with EBITDA Margin adjusted for inventory correction at 4.1%," it added.

Zomato: Food delivery platform Zomato has introduced ‘District,’ an app for dining services and ticket booking for a host of other events.

Zomato's ticketing services through its District app will reportedly face competition from BookMyShow, backed by Reliance.

Auto stocks: Automobile retail sales in India rose 12% year-on-year to 42,88,248 units in the 42-day-long festive period this year, dealer's body FADA said on Friday.

The overall automotive registrations in the festive period of the last year stood at 38,37,040 units.

"We witnessed a remarkable surge in numbers since the beginning of Navratri, nearly hitting our forecasted target with 42.88 lakh vehicles registered during this period's growth of 11.76% over last year's 38.37 lakh units," FADA president CS Vigneshwar said.

Q2 results announcement: Newly listed companies Waaree Energies and Godavari Biorefineries are slated to announce their September quarter (Q2 FY25) results on Monday, November 18. 
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