Indian benchmark indices staged a smart rebound on Tuesday and settled higher amid the uncertainty over US elections. BSE Sensex jumped 694.39 points or 0.88 per cent, to end at 79,476.63. NSE's Nifty50 rallied 217.95 points, or 0.91 per cent, to close at 24,213.30. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, November 06, 2024:
Q2 results today: Power Grid Corporation, Tata Steel, Apollo Hospitals Enterprise, Jindal Steel & Power, Blue Star, Gujarat Gas, Endurance Technologies, JB Chemicals & Pharma, Kansai Nerolac Paints, Aadhar Housing Finance, Chambal Fertilizers & Chemicals, Neuland Laboratories, Trident, RITES and more will announce their results for September 2024 quarter later today.
Corporate actions today: Shares of ADF Foods, Ajanta Pharma, Alldigi Tech, Cyient, Hindustan Unilever, Laurus Labs, LT Foods, Nippon Life Asset Management Company, RailTel Corporation of India, Siyaram Silk Mills will trade ex-dividend later today.
Titan Company: The jewellery and watchmaker reported 25 per cent YoY fall in net profit at Rs 705 crore for the quarter ended September 30, 2024 as a cut in customs duty on gold imports led to inventory losses and shrank margins. The company's total income rose 24 per cent YoY to Rs 12,458 crore, while Ebitda dropped 16.4 per cent to Rs 1,133 crore in Q2FY25.
Infosys: Southwark Council has partnered with the IT solutions major to provide digital learning platforms for residents, colleges, and schools. The Infosys Springboard digital inclusion platform will help residents gain critical digital and employability skills.
Dr Reddy's Laboratories: The pharma major reported 15 per cent YoY fall in net profit at Rs 1,255 crore for the quarter ended September 30, 2024, weighed down by pricing pressure in a competitive North American market, their biggest by revenue. The company's revenue rose 17 per cent YoY to Rs 8,016 crore.
NTPC: The Board has given investment approval for the Telangana Super Thermal Power Project Phase-II (3x800 MW), Gadarwara Super Thermal Power Project Stage-II (2x800 MW), and Nabinagar Super Thermal Power Project Stage-II (3x800 MW), at an appraised current estimated cost of Rs 79,738.45 crore.
GAIL (India): The oil & gas major reported 11 per cent YoY growth in its standalone net profit for the quarter ended September 2024 to Rs 2,672 crore. Revenue from operations in the reporting period rose 3 per cent YoY to Rs 32,931 crore. Margins contracted 200 basis points to 11.4 per cent for the quarter.
Hero MotoCorp: The two-wheeler manufacturer unveiled a range of new motorcycles and an electric scooter at EICMA 2024. It also announced its plans to enter multiple European and UK markets by the second half of 2025. The company also plans to expand its range to include high-capacity premium internal combustion engine (ICE) motorcycles.
Mankind Pharma: The pharmaceutical firm reported a 30.4 per cent YoY jump in net profit at Rs 653.5 crore for the second quarter that ended September 30, 2024. Revenue from operations increased 13.6 per cent YoY to Rs 3,076.5 crore, while Ebitda surged 24.5 per cent YoY to Rs 850 crore in the quarter. Ebitda margins improved to 27.6 per cent for the period.
Manappuram Finance: The gold loan player reported an unexpected growth in second-quarter profit on November 5, as strong performance in its mainstay gold loan segment offset higher provisions. Its consolidated net profit rose 2 per cent YoY Rs 571 crore for the quarter ended September 30. Revenue from the gold loan portfolio rose about 21 per cent YoY to Rs 1,856 crore.
JK Tyre & Industries: The rubber player reported its first quarterly profit fall in two years, hurt by weak tyre sales to car, bus and truck makers. The tyre maker's consolidated net profit for the July-September quarter fell 44 per cent year-on-year to Rs 135 crore. Its second-quarter revenue declined 7 per cent YoY to Rs 3,622 crore, after dropping for the first time in four years.
Premier Explosives: The recently listed solar player has received an order worth Rs 89.20 crore from the state-run Singareni Collieries Company for the supply of SME explosives, LDC explosives, and accessories for use in overburden (OB) blasting at various opencast projects of Singareni Collieries. The order will be delivered over a period of 2 years.
Berger Paints India: The coatings major reported a 7.6 per cent YoY decline in consolidated net profit to Rs 270 crore for the second quarter of the 2024-25 fiscal. The company said its revenue during the quarter under review was Rs 2,774 crore, a marginal growth of 0.3 per cent YoY.
Coffee Day Enterprises: The stock exchanges have suspended the trading of Coffee Day Enterprises securities, effective November 5. The company has met the criteria for additional surveillance measures (ASM) under the Insolvency and Bankruptcy Code (IBC). The securities will be traded only once a week (every Monday or the first trading day of the week) until further review.