Indian benchmark indices continued to fall on Wednesday and settled lower on the back of dull Q2 performance by India Inc so far. BSE Sensex dropped 318.76 points or 0.39 per cent, to end at 81,501.36. NSE’s Nifty50 cracked 86.05 points, or 0.34 per cent, to close at 24,971.30. Here are the stocks that may remain under spotlight before the opening bell on Thursday, October 17, 2024:
Q2 results today: Infosys, Axis Bank, Wipro, Nestle India, LTIMindtree, Havells India, Polycab India, Indian Overseas Bank, Jindal Stainless, Tata Communications, Central Bank of India, Tata Chemicals, Karur Vysya Bank, CEAT, Tanla Platforms, National Standard (India), Quick Heal Technologies, Geojit Financial Services and more will announce their quarterly results for September 2024 quarter.
Reliance Industries: The company has fixed October 28 as the record date for determining the eligibility of equity shareholders for bonus equity shares. The issue of bonus shares was passed with more than the requisite majority in e-voting on October 15.
UltraTech Cement: The cement major has added 1.2 MTPA grinding capacity at its Arakkonam plant in Tamil Nadu. With this addition, its total cement capacity has reached 156.06 MTPA.
Bajaj Auto: The two-wheeler major reported a standalone net profit of Rs 2,005 crore for the quarter ended September 2024, up 9 per cent YoY. The company reported revenue from operations at Rs 13,127 crore, rising 22 per cent YoY. Ebitda increased 24 per cent YoY to Rs 2,652.2 crore, while margins expanded 40 basis points to 20.2 per cent for the quarter.
Aditya Birla Fashion and Retail: The retail chain’s wholly owned subsidiary, Aditya Birla Digital Fashion Ventures (ABDFVL), has infused Rs 75 crore into Wrogn, increasing its shareholding in Wrogn from 17.10 per cent to 32.84 per cent.
L&T Technology Services: The IT solutions player reported a marginal rise of 2 per cent YoY rise in its consolidated net profit at Rs 320 crore for the quarter ended September 2024. Revenue from operations in the reporting period increased 8 per cent YoYto Rs 2,573 crore. The board has also declared an interim dividend of Rs 17 per share.
Oberoi Realty: The realty player’s board has approved the issuance of non-convertible debentures worth up to Rs 1,500 crore on a private placement basis. Additionally, it plans to launch a residential project named Jardin at Oberoi Garden City, Thane, on October 18.
GMR Airports Infrastructure: The passenger traffic in September grew by 9 per cent YoY but fell by 4 per cent MoM to 1.02 crore, while aircraft movements increased by 8 per cent YoY and declined by 4 per cent MoM to 67,018.
Tata Elxsi: The design and technology services company has launched Coalesce, powered by the Snapdragon Spaces XR platform from Qualcomm Technologies Inc. Coalesce is an XR-based immersive collaboration solution that integrates spatial computing, digital twins, and simulations.
Rail Vikas Nigam: The railway film has emerged as the lowest bidder for a project worth Rs 270 crore from Maharashtra Metro Rail Corporation. The project involves the construction of 10 elevated metro stations.
Bikaji Foods International: The ethnic snack maker’s subsidiary, Bikaji Foods Retail, will make a strategic investment of up to Rs 131.01 crore in Hazelnut Factory Food Products for the acquisition of its 53.02 per cent stake in tranches. This acquisition is part of the company’s overall strategy to develop and expand its quick service restaurant (QSR) business vertical.
Welspun Corp: The pipe maker’s subsidiary, Sintex-BAPL, has completed the acquisition of a 100 per cent stake in Weetek Plastic from the current shareholders. Following the acquisition, Weetek Plastic became its wholly owned step-down subsidiary. Weetek Plastic manufactures plastic pipes, fittings, and water storage tanks with a combined capacity of 19 KMPTA in Raipur, Chhattisgarh.
Cochin Shipyard: The Government of India has decided to exercise a green shoe option of up to 2.5 per cent in the offer for sale of Cochin Shipyard on October 17. The offer for sale was subscribed 2.16 times the base size by non-retail investors on October 16. The issue will be opened for retail investors on October 17. The government is selling a 5 per cent stake in the company.
Ircon International: The railway player has signed a memorandum of understanding (MoU) with Patel Engineering for collaboration and cooperation to jointly execute mutually beneficial business opportunities in various infrastructure projects in India and overseas.
Allcargo Gati: The total volume, including surface and air express, stood at 108 kt for September, increasing by 6.9 per cent over the previous month, but falling by 0.9 per cent from 109 kt in September 2023.
Oriana Power: The industrial solar manufacturеr has received a new contract worth Rs 375 crore for the construction of a 75 MW (AC) solar power plant from Maharashtra State Electricity Distribution Company. The project involves the implementation of feeder-level solarisation under Component C of the PM-KUSUM Scheme, including land and transmission line.
EIH: The hotel company’s board has decided to invest up to GBP 69 million in EIH London Investments for a 100 per cent stake. EIH London Investments has not yet commenced its business operations.
