Stocks to Watch: The domestic stocks are expected to open on a flat note on Wednesday, October 23. At 7:52 AM, the GIFT NIFTY futures were trading at 24,541.50 levels, down 33.50 points or 0.14%.
On the global front, gold prices jumped to a record high and the dollar was on the rise on Wednesday, keeping the pressure on the yen and the euro, while stocks in Asia stuttered as investors were reluctant to place major bets ahead of a hotly contested US election.
Here is a list of stocks that will be on investors' radar today.
Q2 Results today: As many as 73 companies are slated to release their September quarter (Q2 FY25) results today. Some of the prominent names that will declare their financial results today are HUL, SBI Life,
Pidilite Industries, TVS Motor Company, AU Small Finance Bank, Bajaj Finserv, Bajaj Holdings, and Navin Fluorine.
Mazagon Dock: The board of directors of Mazagon Dock Shipbuilders on Tuesday approved a stock split in the 1:2 ratio along with an interim dividend of ₹23.19 per share for the financial year 2025.
RIL: The Competition Commission of India (CCI) recently approved the merger between RIL and Viacom18 and Disney Star. The 48-page detailed order outlines several conditions, including the divestment of seven TV channels. This decision aims to ensure fair competition in the media landscape while allowing the merger to proceed.
Triveni Engineering:
Triveni Engineering & Industries Ltd, which makes sugar and engineered-to-order turbo gearboxes, has entered the Indian-Made Foreign Liquor (IMFL) business with the launch of premium whisky brands in Uttar Pradesh.
Power Grid: Power Grid Corporation (PGCIL) on Tuesday said it has emerged as the successful bidder for two transmission projects to evacuate power from renewable projects in Rajasthan.
PGCIL will establish inter-state transmission systems for evacuation of power from Rajasthan REZ Ph-IV (Bikaner complex) Part A&B on a build, own, operate, and transfer (BOOT) basis, a BSE filing said.
Zomato: Online food delivery firm Zomato Ltd on Tuesday reported a consolidated net profit of ₹176 crore in the second quarter ended on September 30, 2024.
The board of the company has also approved the raising of ₹8,500 crore through qualified institutional placement of equity shares, Zomato Ltd said in a regulatory filing.
Paytm: Paytm said on Tuesday it received approval from the country's payments authority to onboard new unified payment interface (UPI) users, providing some relief for the financial services firm after a central bank-ordered ban on its banking unit.
The National Payments Corporation of India (NPCI) granted its approval following a request by the company in August, Paytm said.
Reliance Infra: Anil Ambani's flagship firm, Reliance Infrastructure Ltd is set to receive Rs 1,100 crore equity infusion from the promoters and another Rs 1,910 crore from two Mumbai-based investment firms, according to a filing by the company.
Adani Green Energy:
Adani Green Energy Solutions on Tuesday posted a nearly 39% rise in its consolidated net profit to ₹515 crore in the September quarter compared to a year ago, mainly on the back of higher revenues.
The consolidated net profit of the company stood at ₹371 crore in the quarter ended on September 30, 2023, a BSE filing said.
Indus Towers: Telecom infrastructure company Indus Towers on Tuesday reported a 71.7% year-on-year rise in consolidated net profit to ₹2,224 crore for the September 2024 quarter.
For the just-ended quarter, the consolidated revenues stood at ₹7,465 crore, 4.7% higher than the year-ago period.
Bajaj Finance: Bajaj Finance Ltd (BFL) on Tuesday reported a 13% increase in consolidated net profit at ₹4,014 crore for the second quarter ended September 30, 2024.
Its total consolidated income increased to ₹17,095 crore during the quarter under review, as against ₹13,382 crore in the same period a year earlier.
Asset quality of the company worsened, with gross non-performing assets rising to 1.06% of the gross loans by the end of September 2024 from 0.91% a year ago.
BSNL: The state-owned entity on Tuesday ruled out an increase in tariffs in the near future. "We can clearly say we are not going to increase our tariffs in the near future," Robert Ravi, Chairman and Managing Director of Bharat Sanchar Nigam Limited (BSNL), told reporters.
ITC: According to a report by The Economic Times, British American Tobacco Plc (BAT), the single-largest shareholder in ITC, plans to sell its stake in the soon-to-be demerged hotel business of the Indian conglomerate, said chief executive Tadeu Marroco. The CEO said BAT is also exploring ways to "unlock shares" in ITC to achieve "financial flexibility" for the future.
Arkade Developers: Realty firm Arkade Developers Ltd will invest ₹570 crore to develop a luxury real estate project in Mumbai. The project "Arkade Rare" is spread over 3 acres and located at Bhandup West in Mumbai. The company will develop 432 residential units along with 43 commercial units.
NHPC: State-run hydropower giant NHPC on Tuesday said a major landslide in Sikkim affected its 510 MW Teesta-V Power Station, and the estimated loss was around ₹327.67 crore. The power station is currently not operational and undergoing restoration works after the flash flood of October 2023.
ICICI Prudential: ICICI Prudential Life Insurance Company on Tuesday reported a marginal rise of 3% in its net profit to ₹252 crore in the September quarter. Total income rose to ₹25,229 crore from ₹17,436 crore in the year-ago period. The net premium earned by the private sector insurer during July-September grew to ₹10,754 crore against ₹10,022 crore in FY24, it said.
Persistent Systems: IT services firm
Persistent Systems has reported a 23.44% increase in consolidated net profit to ₹324.9 crore in the September 2024 quarter. Revenue from operations for the quarter under review was ₹2,897.1 crore, up 20.13% from ₹2,411.6 crore in the quarter-ended September FY24.
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