Stocks to watch: The domestic equities are expected to open on a mildly positive note on Monday, October 14. At 7:46 AM, the GIFT NIFTY futures were trading 59 points, or 0.23%, lower at 25,076.50. This, as per publicly available information, indicates that the NIFTY50 will open 26 points higher.
On the global front, Asian stocks swung between gain and loss on Monday as investors struggled to reach a consensus view on China's economic stimulus promises made over the weekend, which, though broad, were light on specifics.
On Wall Street, US stocks advanced on Friday, with the Dow and S&P 500 closing at record highs, as bank shares jumped 4.21%, its biggest daily percentage gain since May 2023, at the start of the quarterly earnings season.
Here is a list of stocks that are expected to be in focus today.
RIL: Shares of the oil-to-telecom giant will be in focus today as the company is slated to release its Q2 results today. As per news reports, net profit will drop as much as 10% on a YoY basis. Global brokerage Jefferies anticipates a surge in the EBITDA of the oil and gas segment.
EBITDA is expected to increase 5% year-on-year, but decline 4% quarter-on-quarter at ₹4,999 crore. The Singapore Gross Refining Margin (GRM) remained low at $3.6 per barrel in the September quarter, slightly up from $3.5 per barrel in the first quarter.
HCLTech: The IT services major is slated to release its September quarter numbers today. HCL Tech is estimated to register a consolidated net profit of ₹4,000 crore, which means a decrease of 6% sequentially. The company's revenue is expected to come in at ₹28,450 crore or $3,395 million, showing an increase of 1.4% or 0.9%, respectively.
Avenue Supermarts:
Avenue Supermarts, which owns and operates the retail chain D-Mart, on Saturday, October 12, reported a 5.78% increase in its consolidated net profit to ₹659.44 crore for the second quarter ended September 2024 (Q2 FY25). The company had posted a net profit of ₹623.35 crore a year ago.
Its revenue from operations rose 14.41% to ₹14,444.50 crore during the quarter under review. It was ₹12,624.37 crore in the corresponding quarter of the last fiscal.
Wipro:
Wipro on Sunday said its board of directors will consider the issue of bonus shares at a meeting scheduled to be held on October 16-17, 2024. Wipro is set to announce its Q2 FY25 results on October 17, 2024.
Other earnings today: Apart from RIL and HCLTech, 12 other companies are slated to release their September quarter results today. The list includes names such as Alok Industries, Oriental Hotels, and Sterling and Wilson Renewable Energy, among others.
PNC Infratech: The infrastructure company, as per news reports, acquired a letter of acceptance by the City and Industrial Development Corporation of Maharashtra for a road project valued at ₹2,040 crore.
Sula Vineyards: Sula reported its highest ever Own Brands revenue in Q2 FY25, driven by the Elite & Premium portfolio, which recorded high single-digit growth, the company said in its Q2 business update.
"Growth in Q2 FY25 was subdued primarily due to a broader slowdown in discretionary spending at the macroeconomic level as well as challenges in key markets—policy ambiguity in Karnataka and significant issues with the Delhi Excise Portal in the last 15 days of Q2 FY25. The company is optimistic that these setbacks are temporary and will resolve in the coming months," it added.
JSW Energy: JSW Energy PSP Two Limited, a step-down subsidiary of JSW Energy Limited (“The Company"), has signed an Energy Storage Facility Agreement (“ESFA”) with Maharashtra State Electricity Distribution Company Ltd (“MSEDCL”) for procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage.
Ashoka Buildcon: As per reports, the firm's joint venture has been awarded a letter of acceptance for a project valued at ₹1,673 crore from the City and Industrial Development Corporation of Maharashtra.
Indoco Remedies: Indoco Remedies has received regulatory status from US Food and Drug Administration (USFDA), for its facilities located at Goa Plant-II & III, L-32, 33, 34, Verna Industrial Area, Verna, Goa, Goa 403722, India (facility), following an inspection conducted by USFDA in July 2024.
The USFDA has determined that the inspection classification of this facility remains 'Official Action Indicated' (OAI).
GSFC: Gujarat State Fertilizers & Chemicals Ltd. (GSFC), as per news reports, has commissioned manufacturing plant Fertilizernagar, Vadodara, for the production of Hydroxylamine Sulfate Crystal (FIX Crystal). The commercial production at the said plant has commenced on October 11, 2024.
Indo Count: Indo Count Global, a wholly-owned subsidiary of Indo Count Industries, has acquired a 100% stake in Modern Home Textiles, Inc. (‘Modern Home’) by entering into a stock purchase agreement.
Hindustan Aeronautics:
Hindustan Aeronautics Limited (HAL) has been elevated to the status of Maharatna Central Public Sector Enterprise (CPSE). The Department of Public Enterprises announced the same on October 12 through a post on X (formerly Twitter).
With this upgrade, HAL becomes the 14th Maharatna CPSE, a status that will further enhance its operational autonomy and financial powers.
Sudarshan Chemicals: The company informed stock exchanges that it will consider fund raising on October 16.
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