Stocks to watch: Shares of firms like Titan, IRCTC, Embassy REIT, Zomato, Maruti, Vedanta, and others will be in focus on Tuesday’s trade
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Stocks To Watch Today: Domestic Markets began the week on a negative note, shedding nearly 1.3%, extending the ongoing downward trend. In today’s trade, shares of Titan, Dr Reddy’s, IRCTC, Embassy REIT, Afcons Infrastructure, Dixon Tech among others will be in focus due to various news developments and second quarter results.
Results today: Dr Reddy’s Labs, Titan, PB Fintech, Mankind Pharma, Mazagon Dock Shipbuilders, Oil India, GAIL, Berger Paints, eClerx Services, Manappuram Finance, Aptus Value Housing Finance, JK Tyre, Max Healthcare Institute, Raymond Lifestyle, SJVN, Sundram Fasteners, Timken India, and Waaree Renewable Technologies, among others will release their September quarter results today.
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Bata India: The company reported a strong 53 per cent increase in net profit for Q2 FY25, reaching Rs 51.97 crore, up from Rs 33.99 crore in the same period last year. Revenue rose by 2.2 per cent to Rs 837.14 crore. Despite higher expenses (up 5 per cent), the company showed resilience in its earnings, making it one to watch in the retail sector.
Adani Power: The company’s power supply to Bangladesh has been reduced amid a payment dispute, with the company halving its electricity exports due to delayed dues of $846 million. Bangladesh has made some payments, but Adani Power’s ability to resolve the situation before the November 7 deadline is crucial.
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Zomato: The company faced scrutiny after the FSSAI discovered incorrect packaging dates on mushroom packets from a vendor in its Hyperpure warehouse. CEO Deepinder Goyal clarified the issue, stating it was a manual error by the vendor and that the vendor has been delisted.
IFCI: The Financial Services Institutions Bureau (FSIB) has recommended Rahul Bhave for the position of Managing Director and CEO of IFCI Ltd. Bhave, currently Deputy Managing Director, is set to head the state-owned financial institution, pending approval from the Appointments Committee of the Cabinet.
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Maruti Suzuki India: The company’s push for global expansion, particularly in electric vehicles (EVs), is gaining momentum. The company aims to double its exports by 2030, with a focus on international markets like Europe and Japan. The launch of its first-ever EV in January 2025, built on a dedicated platform, could enhance its presence in these markets.
Raymond: The company saw a sharp 63 per cent drop in its net profit, which fell to Rs 59.01 crore in Q2 FY25 from Rs 161.16 crore in the previous year. However, total income rose significantly, jumping to Rs 1,100.70 crore from Rs 512.35 crore. The company is focusing on growth in its real estate and engineering businesses, with a notable launch in its retail space (Park Avenue- High Street Reimagined) in Thane. Despite the profit decline, Raymond’s focus on new projects and strategic business segments could be worth monitoring.
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Eicher Motors: Royal Enfield’s announcement of its new electric vehicle brand, Flying Flea, marks its foray into the EV market. The company plans to launch the Flying Flea C-6 model in 2026, combining retro styling with modern EV technology. This move could further strengthen its brand, as it taps into the growing urban mobility sector and positions itself for future growth in the electric motorcycle segment.
JK Paper: The company reported a 57.84 per cent decline in consolidated net profit to Rs 128.85 crore in Q2 FY25, impacted by higher expenses. It had posted a consolidated net profit of Rs 305.68 crore in the same quarter last fiscal. Consolidated total income in the quarter stood at Rs 1,714.88 crore as against Rs 1,708.81 crore in the year-ago period. Total expenses were higher at Rs 1,569.63 crore as against Rs 1,368.23 crore in the same period a year ago, the company said.
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Vedanta: Cairn Oil & Gas, a part of the Vedanta Group, has committed to reducing methane emissions as part of its goal to achieve net-zero carbon emissions by 2030. The company’s new partnership with the UN’s OGMP 2.0 signals a strong commitment to environmental sustainability, which could boost its long-term prospects in the energy sector.
Sun Pharma: The company’s US launch of its alopecia areata drug, Leqselvi, has been delayed due to a court injunction following a patent dispute with Incyte Corporation. This could affect the company’s projected revenue and market position, particularly in the US, where the drug was expected to contribute significantly to sales.
Gland Pharma: The company reported a 15.7 per cent YoY drop in net profit for Q2 FY25, at Rs 164 crore ($19.5 million), largely due to lower sales in its European market and production issues at its French unit, Cenexi. Revenue from operations climbed 2.4 per cent to Rs 1,406 crore. While sales from the US grew, the overall challenges in Europe could weigh on Gland’s short-term performance.
National Stock Exchange: The NSE reported a 57 per cent Y-o-Y jump in consolidated net profit to Rs 3,137 crore in Q2FY25. Its total income rose 25 per cent Y-o-Y to Rs 5,023 crore. On a consolidated basis, earnings per share (non-annualised) increased to Rs 12.68 in Q2FY25. The exchange shares trade around Rs 1,800–Rs 2,000 apiece in the unlisted market (post adjustment for the recent four-for-one bonus). The average daily trading volume (ADTV) for the cash segment stood at Rs 1.29 trillion in Q2, up 66 per cent Y-o-Y. Meanwhile, ADTV for the equity futures segment stood at Rs 2.01 trillion, and for equity options (premium value) stood at Rs 65,648 crore.
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ABB India: The company reported a 22 per cent increase in its net profit for Q3FY24, reaching Rs 440 crore. Revenue from operations rose by 5 per cent YoY to Rs 2,912 crore, while expenses grew by 2 per cent. The company’s operational EBITDA surged by 32 per cent. ABB India’s order intake reached Rs 3,342 crore, up 11 per cent from the previous quarter, with a growing order backlog of Rs 9,995 crore, up 25 per cent YoY.
Bharti Airtel: Bharti Telecom, the holding company of Bharti Airtel, raised Rs 11,150 crore via bond issuances across six tranches, with coupon rates ranging from 8.25 per cent to 8.90 per cent. The proceeds will be used for investments and transaction-related costs.
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REC: State-owned REC plans to raise Rs 6,500 crore through bond issuances in two tranches on November 6-8, 2024. The first tranche of Rs 3,000 crore (15-year maturity) and the second tranche of Rs 3,500 crore (5-year maturity) are expected to attract significant demand. The bonds are rated AAA by major domestic rating agencies. Market participants expect the coupon rate to be between 7.15 per cent and 7.35 per cent, with potential impacts from global bond yield fluctuations.
NTPC and ONGC: Both the companies announced the formation of a 50:50 joint venture to drive their renewable energy ambitions. The new company will focus on solar, wind, green hydrogen, green ammonia, sustainable aviation fuel (SAF), and energy storage.
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IIFL Finance: Fitch Ratings affirmed IIFL Finance’s ‘B+’ long-term issuer default rating, citing continued challenges in the SME and microfinance sectors. However, the rating agency lifted the negative outlook on the company after the RBI lifted restrictions on its gold-backed lending business. Despite a rise in non-performing assets (NPAs) due to higher impairments in certain segments, the company’s moderate NPA ratio and improving risk controls could stabilise its credit profile in the medium term.
Dabur: The company’s Q2FY25 performance showed a 5 per cent YoY decline in consolidated revenue, primarily due to temporary inventory adjustments in the Indian market. Domestic revenue fell by 7.6 per cent, while international sales grew by 13 per cent. The company faced margin pressure, with EBITDA down 16 per cent YoY. Dabur is planning to acquire Sesa Care, an Ayurvedic hair oil brand, and expects high-single-digit revenue growth in H2FY25.
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Embassy Office Parks REIT: SEBI has directed the suspension of Aravind Maiya, CEO of Embassy Office Parks Management Services, for failing to meet the ‘fit and proper’ criteria due to his involvement in the Coffee Day Enterprises audit controversy. SEBI’s move follows a penalty imposed by the National Financial Reporting Authority (NFRA) for professional misconduct.
