Stocks to Watch: At 7:40 am, the GIFT NIFTY futures were trading flat at 24,806 levels. This, as per publicly available information, suggests that the NIFTY50 will open 17 points higher on Tuesday, October 22.
On the global front, Asian stocks turned lower and the US dollar stood by multi-month peaks on Tuesday as a sharp sell-off in bonds and a jump in gold suggested investors are adopting a cautious approach ahead of the US election.
In the overnight trade, the Dow Jones Industrial Average and S&P 500 closed lower on Monday, retreating from Friday's record high closes and six straight weekly gains as Treasury yields rose and investors wary of high valuations awaited earnings from major companies.
Here is a list of stocks that may remain in focus today.
Q2 earnings today: Today will be a results-heavy day as 70 companies are slated to release their September quarter (Q2 FY25) results. The list includes names such as Adani Green, Amber Enterprises, Bajaj Finance, Can Fin Homes, Zomato, Paytm, Chennai Petroleum Corporation, Coforge, ICICI Prudential Life, Indus Towers, Mahindra & Mahindra Financial Services, Persistent Systems, and
Zensar Technologies, among others.
Bajaj Housing Finance: Bajaj Housing Finance on Monday reported a 21% growth in net profit to ₹546 crore in the September quarter.
The housing finance company had recorded a net profit of ₹451 crore in the same quarter a year ago.
Total income increased to ₹2,410 crore during the quarter under review from ₹1,912 crore a year earlier.
Gravita India: As per news reports, the company's net profit rose 24.44% YoY to ₹72 crore in the quarter ended September 2024. Sales rose 10.91% to ₹927.42 crore in the quarter ended September 2024.
Mahindra Logistics: Mahindra Logistics on Monday reported a 54% decline in standalone profit after tax (PAT) at ₹8.5 crore for the September quarter FY25.
A statement said the company posted a PAT of ₹18.6 crore in the second quarter of FY24.
Revenue during the quarter under review, however, increased 9% to ₹1,236 crore from ₹1,136 crore in July-September FY24.
Union Bank of India: The state-owned lender logged 34% growth in its net profit at ₹4,720 crore for the second quarter ended September 2024.
The Mumbai-based lender had earned a net profit of ₹3,511 crore in the same quarter a year ago.
The total income increased to ₹32,036 crore during the quarter under review against ₹28,282 crore in the same period last year.
PNC Infratech: On Monday, the company filed three separate writ petitions in the Delhi High Court challenging a recent order issued by the Ministry of Road Transport and Highways.
Tata Steel:
Tata Steel said it has signed a contract with an Italy-headquartered metals technology multinational to deliver a state-of-the-art electric arc furnace as part of its green steelmaking drive in the UK.
Hyundai Motor India: Shares of the Indian arm of the South Korean car manufacturer will list on bourses today.
The ₹27,870 crore initial share sale got bids for 23,63,26,937 shares against 9,97,69,810 shares on offer, translating into a 2.37 times subscription, as per NSE data.
Eicher Motors: Royal Enfield, one of the leading names in the mid-size motorcycle segment, announced on Monday, October 21, the commencement of operations of its Manufacturing Unit (Category 2) and flagship showroom in Bangladesh. To begin with, Royal Enfield will be launching the iconic Bullet 350, the timeless Classic 350, the modern retro roadster Hunter 350, and the easy cruiser Meteor 350 in Bangladesh.
Nelco: The company on Monday said that Intelsat’s IS33E satellite (one of the satellites that the company uses to provide services by leasing the capacity via New Space India Limited) experienced a power outage on October 19, 2024, disrupting customer traffic.
The satellite operator confirmed on October 20, 2024, that the satellite will not be recovered. The company has initiated backup plans for migrating the impacted customers to alternative satellite capacity. As per the current analysis, the company believes that there is no material financial impact as a result of the above event.
Lemon Tree Hotels: The company has signed a license agreement viz Lemon Tree Hotel, Kalaburagi, Karnataka. The property shall be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels Limited, and is expected to open in FY 2027. This hotel will feature 72 well-appointed rooms, a restaurant, a bar, a banquet hall, a meeting room, a swimming pool, a fitness center, a spa, and other public areas.
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