Stocks to watch: The domestic equity market is expected to open on a flat-to-negative note on Friday, October 10.
At 7:43 AM, the GIFT Nifty futures were trading 27.50 points, or 0.11% higher at 25,090 levels. This, as per publicly available information, suggests that the NIFTY50 index will open 28 points lower.
On the global front, Asian shares were headed for the first weekly loss in five as the stunning rally in Chinese shares took a breather, although all eyes are on the details of the much-anticipated fiscal stimulus from Beijing this weekend.
MSCI's broadest index of Asia-Pacific shares outside Japan rose a subdued 0.3% but is still set for a weekly loss of 1.7% after four straight weeks of gains. The Nikkei, however, gained 0.6%, bringing its weekly rise to 2.6%.
In the overnight trade, Wall Street's main indexes closed lower as investors looked to higher-than-expected inflation and unemployment claims for indications on the health of the US economy and the path for interest rates.
Here is a list of stocks that may remain in focus today.
TCS: Shares of the company will be in focus today as the IT behemoth released its Q2 results last evening. The company missed Street estimates on PAT and margins front. TCS also announced an interim dividend of ₹10 per share.
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Tata Elxsi: The engineering and technology services firm reported a 14.7% rise in its Q2 profit on Thursday, exceeding street expectations, thanks to healthy demand in its transportation wing.
Its net profit rose to ₹229 crore. Analysts had expected ₹205 crore, Reuters reported, citing LSEG data.
Revenue from operations rose 8.3% to ₹955 crore, in line with analysts’ estimate of ₹956 crore.
IREDA: The Indian Renewable Energy Development Agency (IREDA) on Thursday, October 10, reported a 36.18% year-on-year (YoY) rise in its net profit at ₹387.75 crore for the quarter ended September 30, 2024 (Q2 FY25). However, it was lower than the ₹410 crore that analysts tracked by Bloomberg had estimated.
NBCC:
NBCC said its arm Hindustan Steelworks Construction has bagged a ₹1,000 crore contract to develop the campus of Gondwana University in Maharashtra. In a regulatory filing, NBCC said its subsidiary Hindustan Steelworks Construction Ltd has recently been awarded a ₹1,000 crore contract to develop the campus of Gondwana University, Gadchiroli, Maharashtra.
Mazagon Dock: The company has received an order from Maharashtra State Power Generation Company worth ₹122 crore. The order includes the supply, installation, and commissioning of an AI-based comprehensive infrasecure project at two of its facilities, according to an exchange filing on Thursday.
Bandhan Bank: Bandhan Bank on Thursday, October 10, said it has received the nod from the Reserve Bank of India (RBI) to appoint Partha Sengupta as its next chief executive officer and managing director.
Oberoi Realty : The realty firm said on Thursday, October 10, that its board of directors has approved a proposal to raise up to ₹6,000 crore through various financial instruments.
Den Networks: The company reported a 14% year-on-year (YoY) increase in net profit at ₹52 crore for the quarter ended September 30, 2024 (Q2 FY25).
Its revenue from operations declined 10% to ₹249 crore against ₹276.6 crore in the corresponding period of the preceding fiscal.
Anand Rathi Wealth: Net profit of
Anand Rathi Wealth rose 32.39% to ₹76.11 crore in the quarter ended September 2024 as against ₹57.49 crore logged in the year-ago period. Sales rose 32.81% to ₹242.48 crore for the quarter under review as against ₹182.58 crore during the previous quarter ended September 2023.
IdeaForge Technology: As per news reports, Goldman Sachs India Equity Portfolio exited IdeaForge by selling its entire shareholding of 1.51% at an average price of ₹657.67 per share, valued at ₹42.7 crore. However, Citigroup Global Markets Mauritius bought a 1.54% stake in the company at an average price of ₹656 per share.
Ugro Capital: The company said it has reached a total AUM of ₹10,200+ crore, growing from ₹2,970 crore in March 2022, underscoring its accelerated growth trajectory and investment in DataTech infrastructure. The company also recorded its highest-ever quarterly net loan originations of ₹1,970+ crore, a remarkable 72% increase compared to ₹1,146 crore in Q1 FY25.
With inputs from Reuters
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