Stocks to watch, stock market today: After a week of heavy sell-off, the domestic stock market is expected to see a positive start on Monday, October 7, amid encouraging global cues. Asian stocks rallied and the US dollar reached a fresh seven-week peak on the yen on Monday after blowout US labour data dispelled fears of a recession and spurred a sharp paring of rate-cut bets.
Crude oil prices eased from a one-month peak even as Israel bombed targets in Lebanon and the Gaza Strip, with Monday marking one year since the Hamas attack that triggered the war.
On Friday, the Dow posted a record closing high, and the Nasdaq ended with a more than 1% gain as a stronger-than-expected jobs report reassured investors who had worried the economy may be getting too weak.
US job gains increased in September by the most in six months, and the unemployment rate fell to 4.1%, the report showed.
At 07:39 AM, the GIFT NIFTY futures were trading at 25,255.50 levels, up 13 points, or 0.05%. This, as per publicly available information, suggests that the NIFTY50 index will open 82 points higher.
Here is a list of stocks that may remain in focus today.
Titan Company: The Tata Group-owned jewellery and eyewear company reported a robust set of numbers in its business update for the quarter ended September 30, 2024.
Titan Company registered a growth (standalone) of around 25% YoY in O2FY25. A total of 75 stores (net) were added during the quarter expanding Titan's combined retail network presence to 3,171 stores. Its Jewellery segment grew 26% YoY.
Bandhan Bank: Total business of the private sector lender increased 24.6% in the second quarter of the current financial year. Total business at the end of September 30, 2024, touched ₹2,73,163 crore as compared to ₹2,19,712 crore in the similar previous period, representing a rise of 24.6%. Loans and advances of the bank at the end of current second quarter stood at ₹1,30,652 crore, while deposits touched ₹1,42,511 crore, the lender said.
Godrej Properties: The realty firm's sale bookings rose 3% to nearly ₹5,200 crore in the second quarter of this fiscal on better housing demand. This is the highest ever Q2 (July-September) booking value achieved by
Godrej Properties, the company said in a regulatory filing. "Q2, FY25 booking value grew 3% YoY (year-on-year) to nearly ₹5,200 crore from sales of over 5.1 million sq ft," it said.
J&K Bank: As per the provisional Q2 update shared by the lender, the Jammu and Kashmir Bank's gross advances rose 8.3% year-on-year to ₹99,344 crore in the quarter-ended September. Total deposits rose 8.96% over a year ago to ₹1.38 lakh crore.
Utkarsh Small Finance Bank: In its quarterly business update, Utkarsh Small Finance Bank said its total deposits rose 39.6% on a yearly basis to ₹19,496 crore in the July-September quarter. Gross loan portfolio rose 28.3% on a yearly basis to ₹19,101 crore in the July-September quarter compared to ₹18,798 crore last year.
NBCC: Shares of the company will trade ex-bonus today as the PSU has announced a bonus issue in the ratio of 1:2. The record date for this bonus issue is also today, ie, October 7, 2024.
Macrotech Developers: Realty firm
Macrotech Developers on Friday reported a 21% increase in sales bookings to a record ₹4,290 crore during the July-September period on better housing demand.
Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, had sold properties worth ₹3,530 crore in the year-ago period.
Hindalco Industries, JSW Steel: Aditya Birla Group firm Hindalco Industries and Sajjan Jindal-led JSW Steel are in the race for two copper mines in Jharkhand, which will be put on sale this month, sources said.
Both mines have a combined capacity of three million tonne per annum.
Hindalco Industries and JSW Steel will be vying for state-owned Hindustan Copper Ltd's two copper mines in Jharkhand, sources said.
NTPC: UP-based Meja Urja Nigam (MUNPL) has paid a first dividend of ₹51 crore each to its parent companies, NTPC and UPRVUNL. MUNPL is a 50:50 joint venture (JV) of state-owned NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL). The company has paid a final dividend of ₹51 crore to NTPC for FY24. Another dividend of ₹51 crore was paid to UPRVUNL last week.
SBI: India's biggest lender, State Bank of India (SBI), intends to recruit about 10,000 new employees during the current financial year to meet its general banking requirement and foster its technical prowess.
The bank has invested significantly in technology to provide seamless customer service as well as to strengthen the resilience of its digital channels.
Adani Wilmar:
Adani Wilmar on Friday said it has registered 10% total volume growth during the second quarter of this financial year, while its Food and FMCG segment saw 31% volume growth.
The company has been expanding its distribution network to access more towns, reaching over 36,000 rural towns directly by the end of September 2024. The company has a goal to reach over 50,000 rural towns by the end of FY25.
IndusInd Bank: The lender on Friday (October 4) released its provisional business update for the quarter ending September 30, 2024. The bank reported a year-on-year (YoY) increase of 13% in net advances, to ₹3.57 lakh crore. The bank's deposit rose 15% to ₹4.13 lakh crore in the second quarter ended June 2024, according to an exchange filing.
The CASA ratio—the proportion of deposits that come from low-cost current and savings accounts—dipped to 35.9% from 36.7% sequentially. A lower CASA ratio indicates that a bank is relying more on high-cost funds, which can limit its profitability and growth potential.
With inputs from Reuters
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