Indian markets saw another session of a sharp selloff on Wednesday as the rising inflation, relentless FIIs selling and weak Q2 performance continued to spook the street.. BSE Sensex tanked 985.23 points or 1.25 per cent, to end at 77,690.95. NSE's Nifty50 crashed 324.40 points, or 1.36 per cent, to close at 23,559.05. Here are the stocks that may remain under spotlight before the opening bell on Thursday, November 14, 2024:
Q2 results today: Hindustan Aeronautics, Grasim Industries, Hero MotoCorp, Muthoot Finance, Bharat Forge, Glenmark Pharma, Ipca Laboratories, Bharat Dynamics, ITI, Global Health, Brainbees Solutions, Crompton Greaves Consumer Electricals, Delhivery, Jyoti CNC Automation, PTC Industries and more will announce their results for September 2024 quarter later today.
Corporate actions today: Shares of Amara Raja Energy & Mobility, Aptus Value Housing Finance, Astral, Container Corporation of India, Gretex Corporate Services, Indian Metals and Ferro Alloys, IRCTC, KPI Green Energy, KP Energy, KP Green Engineering, Oil India, Page Industries, Power Grid and RITES will trade ex-dividend today. Shares of Worth Investment & Trading Company will trade ex-bonus, while shares of Contil India, JTL Industries and JostS Engineering Company will share ex-split today.
Niva Bupa Health Insurance Company: The standalone health insurance player will make its Dalal Street debut on Thursday after the company raised a total of Rs 2,200 crore via its IPO, which was sold between November 7-11, in the fixed price band of Rs 70-74 apiece. The issue was overall booked 1.80 times during the bidding process.
Eicher Motors: The Royal Enfield parent reported an 8 per cent rise in net profit for the September 2024 quarter to Rs 1,100 crore. Revenue for the second quarter increased 3.6 per cent to Rs 4,263 crore. EBITDA for the quarter stood flat at Rs 1,087.7 crore, while margins contracted to 25.5 per cent.
Cipla: Following an inspection of its Bengaluru facility, the pharma major has received 8 observations in Form 483 from the US Food and Drug Administration (US FDA). The inspection took place at the company’s manufacturing facility in Virgonagar, Bengaluru, from November 7 to 13.
Vodafone Idea: The telecom company narrowed its consolidated net loss in Q2 to Rs 7,176 crore from Rs 8,737 crore last year. The telco's revenue from operations increased marginally by 2 per cent YoY to Rs 10,932 crore, while Ebitda stood at Rs 4,550 crore. Driven by tariff hikes, ARPU came in at Rs 166 for the quarter, up 7.8 per cent YoY.
Varun Beverages: The PepsiCo bottler opened its qualified institutions placement (QIP) issue on November 13. The floor price has been fixed at Rs 594.56 per share.
Apollo Tyres: The tyre maker's consolidated profit after tax declined 37 per cent Yoy to Rs 297 crore in the September 2024 quarter, hit by tepid demand in the domestic market and an increase in raw material prices. Revenue from operations rose slightly to Rs Rs 6,437 crore in the second quarter.
Tata Power Company: The Tata Group company’s subsidiary, Tata Power Renewable Energy, has commissioned floating solar projects of 126 MW in Omkareshwar, Madhya Pradesh.
National Aluminium: The state-owned metal player's consolidated profit rose more than five-fold to Rs 1,045.97 crore in the quarter ended September 2024 on the back of higher revenue from operations. Its consolidated revenue from operations in the latest September 2024 quarter rose to Rs 4,001.48 crore. The company's board has approved an interim dividend of Rs 4 apiece.
Garden Reach Shipbuilders & Engineers: The state-run defence player reported a 21 per cent YoY rise in its net profit for September 2024 quarter. THe revenue for the quarter stood at Rs 1,152.9 crore, clocking a growth of 28.4 per cent YoY. Ebitda for the quarter stood at Rs 68.7 crore, up 41 per cent YoY.
Sun TV Network: The South India-based broadcaster reported a consolidated 11.9 per cent YoY fall in the net profit to Rs 409.1 crore for the quarter ended September 30. Its consolidated revenue from operations decreased by 10.86 per cent YoY to Rs 934.5 crore.
Torrent Power: The utility firm reported an 8.6 per cent YoY decline in net profit to Rs 481 crore for Q2FY25 on the back of reduced contribution from thermal generation, lower merchant sales, and decreased electricity demand. However, its revenue rose 3.1 per cent YoY to Rs 7,175.8, while Ebitda edged down 1.2 per cent YoY to Rs 1,207.3 crore.
Inox Green Energy Services: The renewable energy player's board has approved the demerger of the company’s power evacuation business. Resco Global Wind Services will undertake the power evacuation business.