Stocks to watch: Shares of firms like IRCTC, Nykaa, HDFC Bank, Bajaj Finance, HPCL, RR Kabel, and others will be in focus on Tuesday’s trade.
Stocks to Watch on November 7: GIFT Nifty on the NSE IX traded 16.5 points, or 0.08 per cent, lower at 19,463.5, signaling that Dalal Street was headed for muted start on Tuesday. Here’s a slew of stocks that will be in focus today for various reasons.
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Q2 Results: 3i Infotech, Apollo Tyres, Atul Auto, Balrampur Chini, CRISIL, Cummins, DB Realty, Dredging Corporation, Eveready, GSFC, Idea Forge, IRCTC, Jyothy Labs, KIMS, Naukri, Power Grid Corporation, Prestige Estates, Saint Gobain, Skipper, Venkys and Zydus Life are few of the notable companies scheduled to report September quarter earnings today.
Bajaj Finance: Has set Rs 7,250 per share as the base price for its Rs 8,800 crore qualified institutional placement (QIP). The price is near about 4 per cent discount as per the Sebi formula and the stock’s last close.
HDFC Bank: In its bid to expand workforce and tackle attrition head-on, the private lender has recruited 56,310 employees between March 2022 and September 2023. In other words, more than a fourth of the bank’s staff was added in the past 18 months.
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Nykaa: Reported a 50 per cent YoY increase in net profit at Rs 7.8 crore for Q2FY24 when compared with Rs 5.2 crore in the year-ago period. Consolidated revenue grew 22 per cent to Rs 1,507 crore.
Adani Energy Solutions: Reported a 33.8 per cent YoY rise in net profit for Q2 FY24 at Rs 275.90 crore. Revenue from operations grew by 15.3 per cent to Rs 3,497 crore.
Adani Green Energy: Is now India’s largest green energy company as it reached the 8.4 gigawatt (GW) installed capacity mark last week. Among its peers, ReNew is closest with 8.3 GW, followed by Tata Power and Greenko Energies with close to 4 GW capacity each.
Hindustan Petroleum Corporation (HPCL): Returned to profitability in the September quarter after a boost in marketing margin improved earnings. It logged a consolidated net profit of Rs 5,826.96 crore for Q2FY24. In the year-ago period, the company had a loss of Rs 2,475.69 crore. Revenue, however, dipped 9.7 per cent YoY fell to Rs 1.02 lakh crore.
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PNB Housing Finance: Targeting to up its branches dedicated to affordable housing to 160 by the end of this financial year and a 33 per cent increase in disbursement under the segment to Rs 1,000 crore during the current quarter as against Rs 750 crore in the preceding quarter.
Max Healthcare: Reported a 39.5 per cent YoY fall in consolidated net profit for Q2FY24 at Rs 276.68 crore. The fall has been attributed to the impact of a one-time reversal of deferred tax liability amounting to Rs 244 crore. Revenue from operations rose 19 per cent to Rs 1,363 crore.
Metropolis Healthcare: Reported a 12 per cent YoY decline in net profit at Rs 35.60 crore for Q2FY24. Consolidated revenue from operations, however, grew 2.7 per cent to Rs 308.50 crore.
Quess Corp: Q2 net profit rose 24 per cent YoY to Rs 63.84 crore in Q2FY24. Total income was up 11.2 per cent at Rs 4,763.47 crore.
RR Kabel: Q2 net profit more-than-doubled to Rs 73.94 crore in Q2FY24 when compared with Rs 36.57 crore in Q2FY23. Total income rose 18 per cent YoY to Rs 1,624.43 crore.
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