Stock market today: The domestic stocks are expected to open on a cautious note on Wednesday, November 6. At 7:55 AM, the GIFT Nifty futures were trading at 24,280 levels, down 16.50 points, or 0.07%. This suggests that the NIFTY50 index will open 16 points lower today.
US stock futures and the dollar climbed in Asia on Wednesday as early results from the US presidential election suggested the race remained too close to call.
Republican Donald Trump won eight states while Democrat Kamala Harris captured three and Washington, D.C., Edison Research projected, but critical battleground states were unlikely to be called for hours or even days.
Here is a list of stocks that may remain in focus today.
Titan Company:
Titan Company on Tuesday, November 5, reported a 23.1% year-on-year (YoY) drop in its consolidated net profit at ₹704 crore for the quarter ended September 30, 2024 (Q2 FY25).
The company had posted profit of ₹916 crore in the year-ago period.
Total income came in at ₹13,660 crore, up 26% YoY from ₹10,837 crore in the September 2023 quarter.
Dr Reddy's:
Dr Reddy's Laboratories Ltd on Tuesday said its consolidated profit after tax for the quarter, ended September 30, was down by nine percent to ₹1,342 crore (before non-controlling interest) compared to the same period last fiscal.
The drugmaker reported a profit after tax of ₹1,480 crore in the second quarter of FY24.
However, its revenue increased 16.51% to Rs 8,016.2 crore in the September quarter from Rs 6,880.2 crore in the year-ago period.
Hindustan Zinc: The government will sell up to a 2.5% stake in Hindustan Zinc (HZL) at a floor price of ₹505 per share through an offer for sale (OFS). The two-day OFS opens for institutional bidders on Wednesday and for retail investors on Thursday. The government is selling over 5.28 crore shares, or 1.25% stake, with a greenshoe option to retain additional subscriptions of similar amount.
PB Fintech:
PB Fintech, the parent entity that operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, on Tuesday reported a consolidated net profit of ₹51 crore for the quarter ended September 30, 2024, as against a net loss of ₹20 crore in the same quarter last year.
Tata Steel: The steel major is slated to release its Q2 results today.
Earnings today: Apart from Tata Steel, other firms that are slated to release their Q2 results today are Power Grid Corp., Jindal Steel & Power Ltd., Apollo Hospitals Ltd., and Chambal Fertilisers Ltd.
HUL: Hindustan Unilever (HUL)'s stock will trade ex-dividend on Wednesday for its interim dividend that the FMCG major announced in October. The company had declared an interim dividend of ₹29 per share. The record date for this dividend is November 6, with payments scheduled to be made to shareholders on November 21.
GAIL: State-owned
GAIL (India) Ltd on Tuesday reported a 10% rise in September quarter net profit after an increase in earnings from the gas transmission business and a turnaround in the petrochemical business neutralised fall in marketing margin.
Consolidated net profit of ₹2,689.67 crore in July-September FY25 compared with ₹2,442.18 crore in the same period a year ago.
India's biggest natural gas transmission and marketing firm reported almost flat revenue from operations at ₹33,981.33 crore.
Oil India: Oil India Limited (OIL) on November 5 reported multi-fold rise in consolidated net profit year-on-year at ₹2,069 crore in the second quarter of financial year 2024-25. The state-run oil producer had posted a net profit of ₹640 crore in the same quarter last year.
Oil India's revenue from operations in the latest quarter dwindled by 7.7% to ₹8,135.9 crore, down from ₹8,816.47 crore in Q2 FY24.
NTPC: The company said in its filing to exchanges that the Board of Directors of the Company, in its meeting held on November 5, 2024, has accorded investment approval for the Nabinagar Super Thermal Power Project, Stage II (3x800 MW), at an appraised current estimated cost of ₹29,947.91 crore.
IEX: Indian Energy Exchange's (IEX) total trade volume rose 4% year-on-year to 9,642 million units (MU) in October this year.
During the month, the exchange traded 4.44 lakh renewable energy certificates (RECs), recording a 105% year-on-year increase.
Rane Holdings: Rane Holdings has recorded a consolidated profit after tax of ₹185.4 crore during the July-September 2024 quarter, attributed to exceptional items, the company said on Tuesday.
Total revenues during the July-September 2024 quarter stood at ₹920 crore, compared to ₹930.5 crore during the corresponding quarter of last year.
The earnings before interest, taxes, depreciation, and amortisation (EBITDA) during the quarter improved by 140 basis points, supported by various cost-saving initiatives, the release said.
Berger Paints: Coatings major
Berger Paints India on Tuesday reported a 7.6% decline in consolidated net profit to ₹270 crore for the second quarter of the 2024-25 fiscal.
The company posted a net profit of ₹292 crore in the same quarter of the last financial year.
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