Stocks to watch: Shares of firms like Asian Paints, Axis Bank, Voda Idea, Tech Mahindra, ACC, and others will be in focus on Thursday’s trade.
Stocks to Watch on October 26: GIFT Nifty on the NSE IX traded 44.5 points, or 0.23 per cent, lower at 19,132, signaling that Dalal Street was headed for negative start on Thursday. Here’s a slew of stocks that will be in focus today for various reasons.
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Q2FY24 earnings: Asian Paints, Shriram Finance, Canara Bank, Colgate Palmolive India, Indian Bank, ACC, Coromandel International, Apar Industries, NLC India, Westlife Foodworld, Aavas Financiers, Aditya Birla Sun Life AMC, Jindal Saw, Medplus Health Services, Maharashtra Scooters, Laxmi Organic Industries, Railtel, Sterlite Technologies, Symphony, Prudent Corporate Advisory Services, Steel Strips Wheels, Voltamp Transformers, Paisalo Digital, Ugro Capital, Apcotex Industries, Venus Pipes & Tubes, Sadhana Nitrochem, Quick Heal Technologies, Kabra Extrusiontechnik, Punjab Chemicals & Crop Protection, DB Corp, Punjab National Bank, ISMT, Dixon Technologies, Agi Greenpac.
IRM Energy: The stock will debut on the bourses on Thursday, October 26, 2023. The company is commanding 6 per cent premium in the grey market, indicating a likely listing price of Rs 537 vs issue price of Rs 505.
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Axis Bank: Axis Bank, on Wednesday, logged a consolidated net profit of Rs 5,863.56 crore for Q2FY24, up 10 per cent year-on-year (YoY), on the back of an improvement in margin, increased income and healthy asset quality. The net interest margin (NIM) improved to 4.11 per cent, up from 3.96 per cent a year ago.
Tech Mahindra: The consolidated net profit of Tech Mahindra for Q2FY24 fell 61.10 per cent YoY to Rs 505.30 crore — the biggest drop in 16 years. While the total contract value of new deal wins increased by 78 per cent QoQ to Rs 5,300 crore, it was down 10 per cent YoY.
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Adani Group: The audit regulator, the National Financial Reporting Authority (NFRA), has approached various firms involved in the audit of listed companies in the Adani Group, seeking files and communications relating to the workings of these audit firms on this diversified conglomerate, Bloomberg reported.
On its part, a spokesperson for the Adani Group said: “We strongly reject any suggestion that Adani Group and its businesses have not acted as per the regulations and accounting standards of the jurisdictions in which we operate.”
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Reliance Industries: Reliance Jio has entered into partnership with network services and consumer experience company Plume to deploy HomePass and WorkPass consumer services enabled by Plume’s AI-powered and cloud-based platform, including whole-home adaptive WiFi,connected device and application performance optimisation, cyberthreat protection, etc
Jubilant FoodWorks: The Domino’s Pizza and Dunkin’ Donuts operator reported a 26 per cent YoY fall in net profit at Rs 97.2 crore for Q2FY24. Revenue rose 5 per cent YoY, while Same Store Sales Growth (SSSG) contracted by 1.3 per cent from 8.4 per cent growth YoY.
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Indus Tower: The telecom infrastructure company’s consolidated net profit increased by 49 per cent YoY to Rs 1,295 crore in the September quarter. The consolidated revenue, however, declined 10 per cent YoY due to deferred expenses.
CMS Info Systems: It reported a 16.41 per cent YoY growth in consolidated net profit at Rs 84.4 crore in Q2FY24. The new business wins were Rs 500 crore in the reporting quarter.
Sonata Software: Its net profit climbed 10 per cent YoY to Rs 124.2 crore for the September quarter, while revenue grew 28 per cent YoY to Rs 1,912.6 crore. The company declared an interim dividend of Rs 7 per share for FY24. It also approved and recommended a bonus issue of 1 equity share for every 1 equity share held by the shareholders of the company as of the record date.
TV18 Broadcast: The NSE and BSE have issued letters to the company stating that material information related to the strategic partnership with Reliance, Bodhi Tree Systems, and Paramount Global pertaining to VMPL, a subsidiary of the company, were not disclosed to the Stock Exchanges.
