Stocks to Watch: At 7:57 AM, the GIFT NIFTY futures were trading 47.50 points, or 0.19%, higher at 24,543.50 levels. This, as per publicly available information, suggests that the NIFTY50 index will open 60 points higher on Thursday, October 24.
On the global front, stocks edged lower on Wednesday amid tepid trading ahead of the US election, while gold prices retreated from record highs, dragged down by gains in the US dollar.
Here is a list of stocks that may remain in focus today.
Results today: Over 100 companies are slated to release their September quarter (Q2 FY25) results. The list includes names such as ITC, ACC, CSB Bank, Cyient, DCB Bank,
Dixon Technologies, Godrej Consumer Products, IndusInd Bank, JSW Energy, Laurus Labs, NTPC, Patanjali Foods, and
Westlife Foodworld.
HUL: FMCG major Hindustan Unilever Ltd (HUL) on Wednesday reported a 2.33% decline in consolidated net profit at ₹2,595 crore for the second quarter ended on September 30, 2024, impacted by moderation in demand from the urban market.
Revenue from product sales was up 2.36% at ₹15,703 crore in the September quarter, from ₹15,340 crore in the year-ago period.
Further, the company also decided to demerge the ice cream business.
Pidilite Industries: Pidilite Industries on Wednesday reported an increase of 17.83% in consolidated net profit at ₹540.30 crore for the second quarter ended September 30, 2024, helped by benign input prices and volume growth.
Its revenue from operations was up 5.16% at ₹3,234.91 crore during the quarter under review. It was at ₹3,076.04 crore in the corresponding quarter a year ago.
Metro Brands: Metro Brands missed second-quarter profit estimates on Wednesday as higher expenses weighed on muted sales growth. The footwear retailer reported a consolidated net profit after tax of ₹69.55 crore ($8.3 million) in the quarter ended September 30, up 4% from a year ago.
Analysts, on average, were expecting ₹76.74 crore, according to data compiled by LSEG.
Revenue from operations rose 5% to ₹585 crore, while expenses rose 7.9% to ₹515 crore.
United Spirits: Alcoholic beverages maker United Spirits Ltd on Wednesday reported a marginal increase in consolidated net profit at ₹341 crore in the second quarter ended September 30, 2024, impacted by a softer-than-expected demand environment.
Consolidated revenue from operations in the quarter under review stood at ₹6,672 crore, as against₹6,737 crore in the year-ago period, the company said.
AU Small Finance Bank: AU Small Finance Bank on Wednesday reported a 42% rise in net profit at ₹571 crore for the quarter ended September 30, 2024, on the back of improvement in interest income.
Net interest income of the bank improved to ₹1,974 crore in the July-September quarter from ₹1,249 crore in the September quarter of 2023, registering a growth of 58%.
Piramal Pharma: Piramal Pharma on Wednesday reported a net profit of ₹23 crore in Q2 FY25. The company reported a net profit of ₹5 crore in the corresponding quarter of the previous year.
Revenue from operations rose 17% year-on-year (YoY) to ₹2,242 crore in Q2 FY25.
EBITDA rose 28% YoY to ₹403 crore, while EBITDA margins expanded 200 basis points to 18%.
Dr. Lal Pathlabs on Wednesday said its consolidated profit after tax increased 18% year-on-year to ₹131 crore for the second quarter ended September 30, 2024.
The diagnostics firm had reported a profit after tax (PAT) of ₹111 crore in the July-September quarter of last fiscal year.
The company said its board approved a second interim dividend of ₹6 per equity share for the financial year 2024-25.
TVS Motor Company: Chennai-based
TVS Motor Company on Wednesday reported a 41.4% rise in consolidated net profit at ₹588.13 crore in the second quarter ended September 30, 2024, riding on record sales.
Revenue from operations in the second quarter stood at ₹11,301.68 crore as against ₹9,932.82 crore in the year-ago period, it added.
Adani Power: The board of directors will hold a meeting on October 28 to consider raising funds not more than ₹5,000 crore. The company may raise the funds through a public issue or private placement of non-convertible debentures in one or more tranches, according to an exchange filing on Wednesday.
KEC International: The company has bagged an order worth ₹1,142 crore across its various businesses. The company has secured transmission and distribution projects in the Middle East and America, according to an exchange filing on Wednesday.
F&O ban list
Ten securities are barred from trading in the futures & options segment today. The names are Aarti Industries, Bandhan Bank, Birlasoft, GNFC, IEX, IndiaMart, Manappuram Finance, NMDC, PEL, and RBL Bank.
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