- November 2, 2023
Stocks to Watch: Adani Ent, Tata Motors, SBI, BPCL, Tata Steel, Britannia, and Others – News18
Last Updated: November 02, 2023, 08:38 IST
Stocks to Watch On November 2: GIFT Nifty on the NSE IX traded 34 points, or 0.18 per cent, higher at 19,219, signaling that Dalal Street was headed for positive start on Thursday. Here’s a slew of stocks that will be in focus today for various reasons.
Q2 earnings today: Adani Enterprises, Tata Motors, Adani Power, Cholamandalam Investment, Dabur India, IRFC, Berger Paints, Godrej Properties, Container Corporation of India, Gujarat Gas and Dr. Lal PathLabs, among others.
Reliance Industries: The conglomerate is considering raising Rs 15,000 crore ($1.8 billion) via the sale of local-currency bonds, as per Bloomberg.
GAIL and BPCL: The two have signed a 15-year agreement to supply propane for GAIL’s upcoming petrochemical plant at Usar in Maharashtra. The supply contract is estimated to be over Rs. 63,000 crore.
SBI: State Bank of India has raised Rs 10,000 crore in debt capital by issuing Tier-II bonds — at a coupon rate of 7.81 per cent — to meet the regulatory capital requirement and support its business growth.
KFin Technologies: The company has launched Guardian, a trade reporting and compliance management platform for organisations involved in the capital markets.
Tata Steel: Tata Steel reported a consolidated net loss of Rs 6,196.24 crore in the July-September quarter on the back of impairment charges and restructuring costs due to the proposed transition in the UK. In the year-ago period, it had posted a net profit of Rs 1,514.42 crore.
Hero Moto: The two-wheeler manufacturer’s consolidated net profit rose 47.6 per cent YoY to Rs 1,007 crore in the September quarter.
Britannia: Britannia Industries reported a 19.55 per cent YoY increase in consolidated net profit to Rs 586.50 crore in the September quarter on softening commodity prices.
JK Tyre: The tyre manufacturer reported a nearly five-fold surge in its Q2 consolidated net profit to Rs 242 crore from a year ago. Revenue rose 3.8 per cent to Rs 3,897.5 crore.
Syrma Technology: The company’s Q2 revenue jumped 52.4 per cent YoY to Rs 711.7 crore. Reported profit rose 7.8 per cent to Rs 30.5 crore.
Godrej Consumer: The FMCG major reported a 20.6 per cent YoY increase in its consolidated net profit to Rs 432.77 crore in Q2FY24. Revenue rose 6 per cent YoY to Rs 3,568 crore.
Ambuja Cements: The company’s net profit rose seven times to Rs 793 crore compared to Rs 93 crore reported a year ago. Net sales rose 4 per cent YoY to Rs 7,424 crore.
India Cements: Chennai-based India Cements narrowed its net loss to Rs 85.54 crore in Q2FY24 from a loss of Rs 121.1 crore in the same quarter last year.
Dhanlaxmi Bank: The lender released an advertisement on Wednesday for the post of managing director and chief executive officer, as the term of its incumbent, J K Shivan, is set to be over by 29 January next year.
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