Buzzing Stocks, Stock market today: The domestic stocks will open in the red on Wednesday, October 30, as indicated by GIFT Nifty futures. At 7:39 AM, the index futures were trading at 24,439, down 11 points, or 0.04%. This, as per publicly available information, suggests that the NIFTY50 index will open 39 points lower.
On the global front, the Nasdaq scored a record closing high and the S&P 500 rose on Tuesday, while the Dow fell as investors digested a host of corporate earnings and awaited Google-parent Alphabet's numbers that came after the market close.
After the closing bell, shares of Alphabet were up more than 5% as the Google parent topped third-quarter revenue expectations and noted an AI-driven surge in its cloud business. The stock ended the regular session up 1.8%.
Here is a list of stocks that are expected to be in focus today.
Q2 Results today: L&T, Dabur,
Tata Power, and Biocon, among others, are among the prominent names slated to declare their Q2 earnings today.
OMCs such as Indian Oil Corporation, BPCL, and HPCL are expected to trade actively today as companies have decided to hike the Dealer Commission which is paid to petrol pump dealers, a move that is expected to benefit consumers residing in the far-flung areas of the country, as the prices of petrol and diesel are likely to register a considerable drop.
“#IndianOil is pleased to announce a revision in the dealer margins (effective from 30th October 2024), following the resolution of a pending litigation. This will have no additional impact on the Retail Selling Price of products. This will further strengthen our collective resolve in enhancing customer service standards and the welfare of staff employed in retail outlets,” Indian Oil Corp Ltd wrote on X on Tuesday.
Torrent Pharma: According to news reports, Torrent Investments, Torrent Pharmaceutical’s promoter, is likely to sell up to 2.9% of its stake in the company through a block deal on Wednesday, October 30.
The transaction, if fully subscribed, could amount to a total deal size of ₹3,000 crore.
Colgate Palmolive: The company said in its filing to exchanges that it has received a tax demand of ₹170 crore from the Income Tax Authority.
Container Corporation of India (CONCOR) Tuesday reported a 46.80% jump in its standalone net profit to Rs 336.05 crore for the quarter ended September 30, 2018. The company had clocked a standalone net profit of Rs 228.91 crore for the corresponding quarter of the previous fiscal, it said in a filing to the BSE.
Marico: The FMCG major on Tuesday reported a 20.27% YoY rise in its consolidated net profit at ₹433 crore in the September 2024 quarter, as per news reports.
The total income of the company increased to ₹2,746 crore in the reporting period from ₹2,514 crore a year ago.
The revenue from operations was reported at ₹2,664 crore against ₹2,476 crore logged in the year-ago period.
EBITDA rose 5% higher.
Adani Enterprises: The company reported a 664.5% jump in its consolidated net profit to ₹1,741.75 crore in the quarter that ended September 2024. In the corresponding period last fiscal, the net profit was ₹227.8 crore. Revenue from operations increased 15.66% to ₹22,608.07 crore in the second quarter of the financial year 2024-25, compared to ₹19,546.25 crore in Q2 FY24.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) grew 45.8% to ₹3,694 crore from ₹2,533 crore in the year-ago period. The margin rose 340 basis points (bps) to 16.3%.
SBI Card: SBI Cards and Payment Services Ltd (SBI Card) on Tuesday reported a 33% fall in net profit to ₹404 crore for the September quarter on an increase in delinquency. However, the total income in the second quarter of the current fiscal year rose 8% to ₹4,556 crore from ₹4,221 crore a year ago. The interest income grew 20% to ₹2,290 crore, while income from other sources declined 2% to ₹2,131 crore.
There was a slight deterioration in the company's asset quality, with the gross non-performing assets rising to 3.27% of the gross advances as of September, from 2.43% a year earlier.
Cipla: Drug major
Cipla on Tuesday reported a 17% increase in consolidated net profit to ₹1,303 crore for the second quarter ended September 2024, driven by robust sales across markets. The company had reported a net profit of ₹1,115 crore in the July-September quarter of the last fiscal.
Its total income from operations rose to ₹7,051 crore in the second quarter compared to ₹6,490 crore in the year-ago period, Cipla said in a regulatory filing.
Voltas: Air-conditioning maker and engineering services provider Voltas Ltd on Tuesday a more than two-fold jump in consolidated net profit to ₹132.83 crore for the September quarter. The increase was led by a 56% volume growth from its room AC business. Voltas' revenue from operations was up 14.23% to ₹2,619.11 crore during the quarter under review from ₹2,292.75 crore in the year-ago period.
Total expenses of Voltas increased 10.74% to ₹2,486.89 crore in the September quarter.
Adani Ports: Adani Ports and Special Economic Zone (APSEZ) on Tuesday reported a 37% rise in consolidated net profit at ₹2,413.54 crore for the quarter ended September 2024, mainly on the back of higher revenues.
The consolidated net profit of the company stood at ₹1,762 crore in the quarter ended on September 30, 2023, the company said in a regulatory filing.
HUDCO: Housing and Urban Development Corporation Ltd (HUDCO) on Tuesday reported a 52% increase in consolidated net profit to ₹688.62 crore for the September quarter. The company's total income rose to ₹2,526.14 crore in the second quarter of this fiscal year from ₹1,880.85 crore in the corresponding period of the preceding year.
ASK Automotive: Auto component maker ASK Automotive on Tuesday reported a 63% rise in consolidated net profit to ₹67 crore in the July-September quarter of 2024-25 compared to the year-ago period. The country's largest brake shoe and advanced braking systems manufacturer for two-wheelers reported a net profit of ₹41 crore in the second quarter of the previous fiscal.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) stood at ₹119 crore in the September quarter, up 50.3% from ₹79 crore in Q2FY24, ASK Automotive said.
"We had a strong finish to the second quarter and first half of the year in revenue and profitability. This is the fourth consecutive quarter of robust performance by us since the listing of the company last year. During Q2 FY25, we delivered a strong performance in business and recorded significant growth," said Kuldeep Singh Rathee, Chairman and Managing Director of ASK Automotive.
Reliance Industries (RIL):
Reliance Industries announced that Reliance New Energy Limited (RNEL), its wholly owned subsidiary, has completed the acquisition of the remaining 8% equity share in Faradion Limited, a leading sodium-ion battery technology company.
GlaxoSmithKline Pharmaceuticals on Tuesday reported a 16% year-on-year increase in its consolidated net profit to ₹252 crore in the September quarter, aided by robust sales across segments.
The drug maker posted a net profit of ₹217 crore for the July-September quarter of last fiscal.
Revenue from operations rose to ₹1,010 crore for the September quarter compared with ₹957 crore in the year-ago period.
Deepak Fertilizers: Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) reported a more than three-fold surge in second-quarter profit at ₹214.07 crore on Tuesday, driven by strong sales growth across its business segments. Revenue from operations rose 12.7% to ₹2,753.59 crore, while total expenses increased 5.5% to ₹2,454.92 crore.
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