Indian benchmark indices settled marginally lower on Thursday amid the consistent FII selling and sluggish Q2 earnings. BSE Sensex shed merely 16.82 points or 0.02 per cent, to end at 80,065.16. NSE's Nifty50 dropped 36.10 points, or 0.15 per cent, to close at 24,399.40. Here are the stocks that may remain under spotlight before the opening bell on Friday, October 25, 2024:
Corporate actions today: Shares of Allcargo Logistics, DB Corp, Dalmia Bharat, L&T Technology Services, LTIMindtree and Wealth First portfolio will trade ex-dividend today. Shares of BEW Engineering and Pulz Electronics will trade ex-bonus today, while Mayukh Dealtrade, Pocl Enterprises and Sukhjit Starch and Chemical will trade ex-split later today.
Q2 results today: Coal India, JSW Steel, DLF, Bharat Electronics, InterGlobe Aviation, Bharat Petroleum Corporation, Bank of Baroda, Shriram Finance, Cholamandalam Investment & Finance Company, Torrent Pharmaceuticals, Macrotech Developers, IDBI Bank, Hindustan Petroleum Corporation and more will announce their results for September 2024 quarter later today.
ITC: The diversified conglomerate reported a consolidated net profit of Rs 5,078 crore for the quarter ended September 30, 2024, up 3 per cent YoY. Revenue from operations rose 16.8 per cent YoY to Rs 19,327.7 crore in the reporting period. The cigarette-to-hotels conglomerate reported an Ebitda of Rs 6,335 crore in the September 2024 quarter, while margins fell to 32.8 per cent.
NTPC: State-run power generator reported a consolidated net profit of Rs 5,380 crore for the second quarter of 2024-25, up 14 per cent YoY. Revenue from operations in the September quarter was Rs 44,696 crore, marginal down YoY. The company’s board approved an interim dividend of Rs 2.5 per share. NTPC contributed 25 per cent of the country's power requirement.
IndusInd Bank: The private sector lender reported a 39 per cent YoY drop in its net profit for the quarter ended September 2024 at Rs 1,325 crore. The net interest margin for the quarter under review stood at 4.08 per cent, down by 21 bps QoQ. The bank’s deposits crossed the Rs 4 lakh crore mark, growing by 15 per cent YoY to Rs 4,12,317 crore.
Axis Bank: The Reserve Bank of India has given its approval for the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of Axis Bank for a further three years, effective January 1, 2025.
Godrej Consumer Products: The FMCG major reported a 13.52 per cent YoY rise in its consolidated net profit to Rs 491.31 crore in the September quarter, helped by volume growth in the domestic market and Indonesia. Revenue from the sale of products of the Godrej group FMCG arm grew 2.2 per cent YoY to Rs 3,647.11 crore.
Indian Energy Exchange: The utility player posted over 25 per cent YoY rise in consolidated net profit at Rs 108.32 crore for the quarter ended September 30, 2024 compared to the year-ago period mainly due to higher revenues. Total income rose 26 per cent YoY to Rs 167.76 crore in the quarter in the quarter under review.
Jubilant Pharmova: The drugmaker's subsidiary, Jubilant Pharma Holdings Inc, USA, has voluntarily prepaid a $25 million term loan, equivalent to Rs 210 crore, from its internal accruals on October 23. Jubilant Pharma is a wholly owned subsidiary of Jubilant Pharmova.
Petronet LNG: The gas distribution player' second-quarter profit rose 4 per cent YoY to Rs 848 crore on strong capacity utilization of its Dahej import terminal, but dropped 26 per cent QoQ compared to the April-June quarter as the power sector’s demand for liquefied natural gas (LNG) fell with falling temperatures in the second quarter. Revenue also rose 4 per cent to Rs 13,022 crore.
Kansai Nerolac Paints: The paint company has entered into definitive agreements for the conveyance or assignment of lease with Aethon Developers (a subsidiary of Runwal Developers) for the sale of its land parcel at Lower Parel, Mumbai, together with the building thereon, for Rs 726 crore.
Shriram Properties: Enforcement Directorate officials conducted search activities at the real estate player's office premises in Bengaluru and Chennai. The search process has been completed without any material developments. The company has provided necessary clarifications or details sought by the officials to their satisfaction by extending full cooperation.