Stocks to Watch: The domestic stocks are expected to open on a negative note on Thursday, November 7. At 8:00 AM, the GIFT NIFTY futures were trading at 24,470 levels, down 16.50 points, or 0.07%.
This suggests that the NIFTY50 index will open 18 points lower.
On the global front, Wall Street tore to record highs on Wednesday and major stock markets around the world surged, while bitcoin hit an all-time high and the dollar was set for its biggest one-day jump in four years after Donald Trump was elected US president.
Here is a list of stocks that may trade actively today.
Results today:
Cochin Shipyard, Trent, Lupin, Emami,
Mahindra & Mahindra, Escorts Kubota, NHPC, and NCC are some of the companies that are slated to release Q2 results today.
Tata Steel: Tata Steel on Wednesday reported a net profit of ₹758.84 crore for the September 2024 quarter, helped by lower expenses. It had posted a net loss of ₹6,511.16 crore in the July-September period of the preceding 2023-24 fiscal. The company's total income rose to ₹54,503.30 crore during the second quarter against ₹55,910.16 crore in the same period a year ago.
Tata Steel reduced its expenses to ₹52,331.58 crore from ₹55,853.35 crore in the year-ago quarter.
Gujarat Gas: Gujarat Gas' consolidated net profit fell 7% sequentially in the quarter that ended September 30, but topped analysts' estimates. Its net profit came in at ₹309 crore in the July–September period, compared to ₹331 crore in the year-ago quarter. Revenue was down 15% to ₹3,782 crore versus ₹4,450 crore.
Power Grid: The state-owned Power Grid Corporation of India (PGCIL) on Wednesday said its consolidated net profit stood almost flat at ₹3,793.02 crore in the July-September quarter of this financial year. The company reported a consolidated net profit of ₹3,781.42 crore in the quarter that ended on September 30, 2023.
Total income of the company rose to ₹11,845.93 crore in the quarter under review from ₹11,530.43 crore in the same period a year ago.
Reliance Power: Reliance Power on Wednesday said its arm, Rosa Power Supply Company, has prepaid another Rs 485 crore debt to Singapore-based lender Varde Partners and become a zero-debt company.
UltraTech Cement: As per news reports, the company's wholly-owned subsidiary, UltraTech Cement Middle East Investments Ltd., bought an additional 11.55% stake in UAE-based unit Ras Al Khaimah Co. for White Cement and Construction Materials PSC for $22.02 million.
Hindustan Zinc: Hindustan Zinc on Wednesday committed to spend ₹36 crore towards children's education over the next five years in Rajasthan. Besides, the government said it will exercise the oversubscription option in the offer for sale. The offer for sale included a base offer of 1.25% stake, with a greenshoe option of an additional 1.25%. The floor price has been set at ₹505 per share.
SpiceJet: SpiceJet on Wednesday said the annual general meeting for 2023-24 will be held on or before December 31, as the company has been given three more months to conduct the meeting. In another filing, the airline said it will launch eight new flights starting November 15, including services connecting Jaipur with Varanasi, Amritsar, and Ahmedabad.
RVNL: The company received an order for a rail project worth Rs 180 crore from East Central Railway.
Kansai Nerolac: Kansai Nerolac Paints reported a 27.6% year-on-year drop in PAT at ₹130 crore on a marginal gain in net revenues worth ₹1,864 crore for the second quarter ended September this year. EBITDA for the quarter stood at ₹215 crore, down 20.3% from the same quarter a year ago.
Apollo Hospitals: Apollo Hospitals on Wednesday reported a 63% growth in its consolidated profit after tax for the second quarter that ended September 2024, on the back of higher revenue.
The hospital chain had registered a PAT of ₹233 crore a year ago.
During the quarter under review, its revenue from operations grew 15% year-on-year to ₹5,589 crore.
Blue Star: On Wednesday, Air conditioning and commercial refrigeration systems maker Blue Star Ltd reported a 35.73% rise in consolidated net profit at ₹96.06 crore for the second quarter ended September 2024, led by its project business.
The company had logged a net profit of ₹70.77 crore in July-September FY24, according to a regulatory filing from Blue Star Ltd.
Revenue from operations was up 20.39% to ₹2,275.96 crore in the September quarter, compared to ₹1,890.40 crore in the year-ago period.
Sonata Software:
Sonata Software reported a slight increase in net profit for the second quarter ended September 30, with a 0.9% rise to ₹106.5 crore, compared to ₹105.6 crore in the previous quarter.
However, the company reported a 14% drop in revenue, which came in at ₹2,169.8 crore, against ₹2,527.4 crore reported in the June quarter.
Chambal Fertilisers and Chemicals Ltd (CFCL) on Wednesday, November 6, reported a 40.8% year-on-year (YoY) jump in net profit at ₹536.4 crore for the second quarter that ended September 30, 2024.
Revenue from operations was down 19.3% to ₹4,346.2 crore against ₹5,385.5 crore in the year-ago period.
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