Stocks To Watch On November 10: GIFT Nifty on the NSE IX traded 40.5 points, or 0.21 per cent, lower at 19,381.50, signaling that Dalal Street was headed for negative start on Friday. Here’s a slew of stocks that will be in focus today for various reasons.
Q2 Results: 3M India, Biocon, Fortis Healthcare, Hindustan Aeronautics, Hindalco, Hindustan Copper, Hindustan Oil Exploration, HUDCO, Igarshi Motors, Kothari Products, Life Insurance Corporation of India, Mahindra & Mahindra, MTNL, ONGC, PTC India, RCF, SAIL, Sundaram Brakes, Sun Tv, Tata Chemicals, TNPL and Zuari Industries are among the notable companies scheduled to report September quarter earnings today.
Tata Motors: Moody’s has upgraded Tata Motors corporate family rating (CFR) from ‘B1’ to ‘Ba3’, reflecting continued improvement in the company’s credit profile. The ratings agency also upgraded Jaguar Land Rover Automotive CFR to ‘Ba3’ from ‘B1’.
Dabur, Religare Enterprises: The Burman family has no plans to change the existing Religare Enterprises board after the family office acquires a majority stake in the financial services firm, Dabur chairman Mohit Burman said in a video call on Thursday.
Wipro: The IT major may skip giving hikes to ‘top performers with higher compensation’ in its largest business line in the upcoming round of salary revisions in December, Reuters reported. The move comes at a time when the company is dealing with a plethora of problems ranging from weak client spending to tough competition from larger rivals.
Ashok Leyland: The Board approved an investment of Rs 1,200 crore in Switch Mobility as equity through its holding company Optare PLC UK. The funds infused will be used for capital expenditure, research and development, and meeting operational requirements both in the UK and India.
Meanwhile, the company posted over two-fold jump in net profit for Q2FY24 to Rs 569.31 crore as against Rs 185.8 crore in Q2FY23.
Zee Entertainment Enterprises (ZEE): Q2 net profit rose 8.9 cent to Rs 122.96 crore for the quarter ended September 2023 when compared with Rs 112.89 crore in Q2FY23. Total income grew 23 per cent YoY to Rs 2,509.27 crore.
ABB India: Reported a 83.7 per cent jump in net profit to Rs 363 crore for Q2FY24 as against Rs 198 crore reported a year ago. Net sales grew 31 per cent YoY to Rs 2,751 crore.
Piramal Enterprises: Posted a net profit of Rs 48 crore for Q2FY24 quarter as compared to a net loss of Rs 1,536 crore in the year-ago period. Net Interest Income (NII), however, was down 9.5 per cent YoY at Rs 750 crore.
Shriram Life Insurance: Registered net profit of Rs 70.4 crore for H1FY24, down 6.3 per cent compared to Rs 75.1 crore in H1FY23. The firm reported a 88 per cent YoY growth in new business premium for retail and group policies in H1FY24 at Rs 860 crore.
Aurobindo Pharma: Q2 net profit zoomed 152.5 per cent to Rs 415.74 crore for the quarter ended September 2023 when compared with Rs 164.63 crore in Q2FY23. Revenue from operation increased 37 per cent YoY to Rs 2,668.76 crore.
General Insurance Corporation of India (GIC): Q2 consolidated net profit declined 23.8 per cent to Rs 1,688.95 crore for the quarter ended September 2023 when compared with Rs 2,216.55 crore in Q2FY23. Total income, however, grew 5.6 per cent YoY to Rs 12,302.67 crore.
Hinduja Global Solutions (HGS): Reported a net loss of Rs 18.71 crore for Q2FY24 as against a net profit of Rs 224.24 crore in Q2FY23. Total income, however, was up 5.3 per cent YoY at Rs 472.63 crore.
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