Stock market today: The domestic equity market is expected to open on a subdued note on Tuesday, November 5. At 7:44 AM, the GIFT Nifty futures were trading at 24,100, up 28 points or 0.12%. This indicates that the NIFTY50 index will open 15 points lower.
On the global front, US stocks closed slightly lower after a choppy session on Monday as investors prepared for a crucial week in which Americans will elect a new president and the Federal Reserve will announce its policy statement.
In commodities, oil prices eased slightly on Tuesday as markets braced for uncertainties from the US presidential election after rising more than 2% in the past session as OPEC+ delayed plans to hike production in December and eased supply concerns.
Here is a list of stocks that may remain in focus today.
Earnings today: As many as 64 companies are scheduled to declare their September quarter (Q2 FY25) results today. The list includes Titan Company, Triveni Engineering, Timken India, SJVN, Saregama India, PB Fintech, Oil India,
Mazagon Dock Shipbuilders, Muthoot Microfin, Max Healthcare Institute, Manappuram Finance, JK Tyre, GAIL, Dr Reddy's, Datamatics Global Services,
Berger Paints, and Aptus Value Housing Finance, among others.
Raymond: Raymond Ltd. on Monday reported a 63% decline in consolidated net profit to ₹59.01 crore in the second quarter of this fiscal year, compared to ₹161.16 crore logged in the year-ago period.
Total income rose to ₹1,100.70 crore during the July-September period of this fiscal from ₹512.35 crore in the corresponding period of the previous year.
Gautam Hari Singhania, Chairman and Managing Director of Raymond Ltd, said, "We witnessed good momentum in the real estate and engineering businesses."
IRCTC: The state-run company on Monday reported 4% YoY growth in its consolidated net profit to ₹308 crore for the quarter ended September 30, 2024. Consolidated revenue from operations for the reporting period stood at ₹1,064 crore, up 7% compared with ₹992 crore posted in the corresponding period of last year.
ABB India: ABB India on Monday reported over a 21% rise in profit after tax at ₹440 crore for the third quarter ended September 30, pushed by higher income.
It had posted ₹362 crore profit after tax (PAT) in the July-September period a year ago, the company said in an exchange filing.
The company follows January to December as a financial year.
Total income increased to ₹3,005.05 crore from Rs 2,846.01 crore in the year-ago period.
Total orders for the third quarter were ₹3,342 crore, up 11% as compared to Q3 2023. The order backlog was at ₹9,995 crore, 25% higher year-on-year, the company said.
IRFC: Indian Railway Finance Corporation Ltd (IRFC) on Monday reported a 4% increase in net profit to ₹1,613 crore for the September quarter. The NBFC, under the administrative control of the Ministry of Railways, had earned a net profit of ₹1,545 crore in the year-ago period.
The assets under management (AUM) stood at ₹4,62,283 crore at the end of September 2024.
Meanwhile, the board of the company approved an interim dividend of ₹0.80/share (or 8%) on the face value of ₹10 for 2024-25.
Gland Pharma: Gland Pharma reported a drop in second-quarter profit on Monday, hurt by lower sales in its Europe business and temporary production issues at its French unit Cenexi.
The company reported consolidated net profit of ₹164 crore ($19.5 million) for the quarter ended September 30, a 15.7% decrease from the year-ago period.
Revenue from operations climbed 2.4% to ₹1,406 crore.
Sales from Gland Pharma's Europe business fell over 1% for the quarter ended September 30 from a year ago.
Amara Raja: Amara Raja Energy & Mobility Ltd on Monday (November 4) posted a 6.3% year-on-year (YoY) increase in net profit at ₹240.7 crore for the second quarter that ended September 30, 2024.
The company's revenue from operations increased 11.6% to ₹3,135.8 crore against ₹2,811.1 crore in the year-ago period. The board of directors declared an interim dividend of ₹5.30 per equity share.
Bata India: Leading shoemaker Bata India Ltd on Monday reported a 53% rise in consolidated net profit at ₹51.97 crore for the second quarter ended September 2024.
It had posted a net profit of ₹33.99 crore for July-September FY24, according to a regulatory filing from Bata India.
Revenue from operations was up 2.2% to ₹837.14 crore during the quarter under review.
JK Paper: JK Paper Ltd on Monday reported a 57.84% YoY decline in consolidated net profit to ₹128.85 crore in the second quarter ended September 30, 2024, impacted by higher expenses. Consolidated total income in the second quarter stood at ₹1,714.88 crore as against ₹1,708.81 crore in the year-ago period, it added. Total expenses were higher at ₹1,569.63 crore as against ₹1,368.23 crore logged in the same period a year ago.
KEC International:
KEC International Ltd on Monday (November 4) reported a 53% year-on-year (YoY) jump in net profit at ₹85.4 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, KEC International posted a net profit of ₹55.8 crore, the company said in a regulatory filing. The company's revenue from operations increased 13.7% to ₹5,113.3 crore as against ₹4,499 crore in the corresponding period of the preceding fiscal.
Deepak Builders: The company has emerged as the L1 bidder for the construction of a 150-bedded critical care block at PGIMER, Chandigarh, and their maintenance during a defect liability period on a comprehensive design, engineering, procurement, and construction (EPC) basis with a bid project cost of ₹152.91 crore. The duration for completion of the said project is 18 months.
(With inputs from Reuters, PTI)
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