Indian benchmark indices saw a sharp correction on Tuesday and settled sharply lower. The intense selloff triggered by carnage in the broader market weighed on the sentiments. BSE Sensex crashed 930.55 points or 1.15 per cent, to end at 80,220.72. NSE's Nifty50 cracked 309 points, or 1.25 per cent, to close at 24,472.10. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, October 23, 2024:
Q2 results today: Hindustan Unilever, Bajaj Finserv, SBI Life Insurance, Pidilite Industries, TVS Motor Company, Bajaj Holdings & Investment, United Spirits, Godrej Properties, Schaeffler India, Lloyds Metals & Energy, AU Small Finance Bank, KPIT Technologies, Sola BLW Precision Forgings, Metro Brands, Piramal Pharma and more will announce their results for September 2024 quarter.
Bajaj Finance: The shadow lender reported a 13 per cent jump in its net profit for the quarter ended September 2024 to Rs 4,000 crore, attributable to the owners of the company. The revenue from operations for the reported quarter came in at Rs 17,090 crore, up 28 per cent YoY. The net interest income (NII) rose 23 per cent YoY to Rs 8,838 crore for the reported quarter.
Power Grid Corporation of India: The PSU power player has been declared the successful bidder to establish an inter-state transmission system in Rajasthan. It has received a Letter of Intent for the said project.ICICI Prudential Life Insurance Company: The private insurer reported a marginal rise of 3 per cent in its net profit to Rs 252 crore in the September quarter. Total income rose to Rs 25,229 crore from Rs 17,436 crore in the year-ago period. The net premium earned by the private sector insurer during July-September grew 7.3 per cent YoY to Rs 10,754 crore.
Indus Towers: The telecom infra player reported a 71.7 per cent YoY jump in net profit to Rs 2,224 crore for its fiscal second quarter, on the back of strong tower additions and steady collection of past overdues from Vodafone Idea (Vi). Quarterly revenue grew 4.7 per cent Yoy on year to Rs 7,465 crore for the quarter .
One97 Communications: The National Payments Corporation of India (NPCI) has granted approval to Paytm parent One 97 Communications to onboard new UPI users.
RailTel Corporation of India: The railway communications player has received a work order worth Rs 36.8 crore from South Eastern Railway. The work order involves the provision of an electronic interlocking system and signaling arrangements.
Firstsource Solutions: The RP-Sanjiv Goenka Group company has decided to build a domain-centric large language model for the US mortgage business.
Sonata Software: The software solutions player has received a contract from a Fortune 500 manufacturer of consumer goods and industrial products. Under the multi-year deal, Sonata will support the manufacturing company's global business growth and its ongoing digital transformation journey.
RITES: The railways player has received an order worth Rs 454 crore from the Karnataka Mining Environment Restoration Corporation. Earlier, the order for the construction of railway PFTs at Dharmapura and Susheel Nagar in the Ballari district, awarded to the company on a project management consultancy (PMC) basis, has now been converted to a turnkey basis.
Mukka Proteins: The animal feed player has announced to raise Rs 98 crore via preferential issue by allocating 1.96 crore equity shares at Rs 50 per share to promoter and non-promoter investors.
Aavas Financiers: The Competition Commission of India has approved the acquisition of Aavas Financiers by Aquilo House Pte.
Dhanlaxmi Bank: The board has approved fundraising of up to Rs 300 crore via equity shares on a rights basis.