Indian benchmark indices were range-bound on Friday and settled slightly lower on the back of consistent FIIs selling and muted Q2 earnings, despite US Fed's interest rate cut . BSE Sensex fell 55.47 points or 0.07 per cent, to end at 79,486.32. NSE's Nifty50 retreated 51.15 points, or 0.21 per cent, to close at 24,148.20. Here are the stocks that may remain under spotlight before the opening bell on Monday, November 11, 2024:
Q2 results today: ONGC, Hindalco Industries, Britannia Industries, Shree Cements, NMDC, Bank of India, UPL, Jubilant Foodworks, Godfrey Phillips, Hindustan Copper, Devyani International, The Ramco Cements, Triveni Turbine, Elgi Equipments, BEML, Concord Biotech, Balrampur Chini, Blue Dart Express and more announced their results for the September 2024 quarter later today.
Corporate actions today: Shares of DCM Shriram and TD Power Systems will trade ex-dividend today.
Tata Motors: The Tata Group automaker reported a 62.4 per cent YoY fall in standalone net profit to Rs 477 crore in the second quarter of the financial year ending September 30. The revenue from operations also dropped by 16.3 per cent YoY to Rs 15,518 crore. Margins for the quarter dipped 110 bps to 12 per cent for the quarter.
Asian Paints: The paint major reported that its consolidated net profit for the quarter ended September 2024 fell 42.4 per cent YoY to Rs 694.6 crore amid muted consumer sentiments. Asian Paints recorded a 5.3 per cent YoY drop in its net sales to Rs 8,003 crore, while Ebitda fell 27.8 per cent to Rs 1,239.5 crore with the margins falling 480 bps to 15.5 per cent on a YoY basis.
JSW Steel: The Ministry of Coal has terminated the Coal Block Development and Production Agreement with JSW Steel for the Banai & Bhalumuda coal block in Mand-Raigarh. After acquiring the block and conducting a detailed feasibility study, the company concluded that the mine was not suitable from a techno-commercial perspective.
Life Insurance Corporation: The PSU insurance player reported a 4 per cent decline in its standalone net profit at Rs 7,621 crore for the quarter ended September 2024. Net premium income during the reporting quarter increased 11 per cent YoY to Rs 1.19 lakh crore. The first-year premium income during the second quarter increased 12 per cent YoY to Rs 11,201 crore.
Divi's Laboratories: The Indian pharmaceutical giant reported a net profit of Rs 510 crore, up 46.5 per cent YoY for the Q2FY25. The drug maker reported revenue at Rs 2,338 crore, up 22.5 per cent YoY, while its Ebitda rose 49.5 per cent YoY, reaching Rs 716 crore for the quarter.
Ola Electric: The electric vehicle maker's net loss narrowed in the second quarter, helped by a jump in sales and lower raw material costs. The Bengaluru-based company said its consolidated loss narrowed to Rs 495 crore in the September 2024 quarter. The electric vehicle maker clocked a consolidated revenue of Rs 1,214 crore, which went up by around 39 per cent YoY.
GR Infraprojects: The infra player has emerged as the lowest bidder for BSNL’s BharatNet Phase 3 project, valued at Rs 867.54 crore. The project involves the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network for BharatNet in Kerala.
ITI: The telecom manufacturing company has emerged as the lowest bidder for Package number 15 of the BharatNet Phase-3 project, which includes Arunachal Pradesh, Nagaland, and Manipur, with an order value of Rs 1,537 crore. It has been awarded the lowest bid for Package number 8 in Himachal Pradesh and Package number 9 in West Bengal and the Andaman and Nicobar Islands, with a total order value of Rs 3,022 crore.
Solar Industries India: The explosives company has received export orders worth Rs 580 crore for the supply of defence products. These products will be delivered over a period of 5 years.
Welspun Corp: The homegrown metal player reported a net profit of per cent 287 crore for the quarter, a 26.3 per cent YoY fall on a yearly basis. Its consolidated revenue for the three months ended September 30 was Rs 3,364 crore, falling 18.6 per cent YoY. Its EBITDA stood at Rs 462 crore, with an Ebitda margin of 14 per cent for the reported quarter.
DCX Systems: The aerospace and defence company has received an export order worth Rs 460.3 crore from Lockheed Martin Global Inc., USA, for the supply of electronic assemblies.
Utkarsh Small Finance Bank: The private lender's net profit dropped 55 per cent YoY to Rs 51.4 crore, while its net interest income rose 26.4 per cent to Rs 558.2 crore in the reported quarter. Provisions and contingencies spiked to nearly 150 per cent to Rs 208.3 crore in the quarter.
Sasken Technologies: The product engineering and digital transformation services company is set to acquire the hardware and software services business of Borqs Technologies, Inc., a global provider of embedded software and products for the Internet of Things (IoT).
Krishna Institute of Medical Sciences: The hospital chain has entered into an operations and management agreement with Insignia Healthcare for an initial term of 15 years, with an option to extend for a further 10 years. This agreement pertains to the operation and management of a newly constructed super specialty hospital with a capacity of approximately 150 beds in Guntur.
Zaggle Prepaid Ocean Services: The IT related services has signed an agreement with Can Fin Homes to provide an expense management platform and employee benefits (Zaggle Zoyer Petty Cash & Zaggle Save) for the branches and employees of Can Fin Homes, respectively.
Epigral: The company board of speciality chemical player has approved the company’s expansion of production capacity for chlorinated polyvinyl chloride resin (CPVC Resin) and epichlorohydrin at its facility in Dahej, Gujarat.
RMC Switchgears: The electrical equipment has signed an enabling Memorandum of Understanding (MoU) with the Government of Rajasthan to establish a 1,000 MW ultra mega solar park project with integrated battery storage. This project is expected to take 2-3 years to execute and will contribute to RMC’s target of implementing 1 GW of greenfield projects.