Indian benchmark indices took a U-turn on Thursday and settled sharply lower after a day's revival. Muted Q2 results and consistent FII selling dented the sentiments. BSE Sensex crashed 836.34 points or 1.04 per cent, to end at 79,541.79. NSE's Nifty50 tanked 284.70 points, or 1.16 per cent, to close at 24,199.35. Here are the stocks that may remain under spotlight before the opening bell on Friday, November 08, 2024:
Corporate actions today: Shares of Computer Age Management Services, Dabur India, Dr Agarwals Eye Hospital, IRB Infrastructure, Petronet LNG, REC, TCI Express, Zee Entertainment, Bharat Highways InvIT, Brookfield India Real Estate Trust REIT will trade ex-dividend today. Shares of Cropster Agro will trade ex-bonus today, while shares of Cropster Agro, Motisons Jewellers and Roto Pumps will trade ex-split today.
Q2 results today: State Bank of India. Life Insurance Corporation of India, Tata Motors, Vedanta, Power Grid Corporation of India, Info Edge (India), Ashoka Leyland, MRF, Premier Energies, Fortis Healthcare, Ola Electric Mobility, Cholamandalam Finance, Jupiter Wagons, Motherson Sumi Wiring India and more will announce their results for the September 2024 quarter later today.
Wipro: The IT services company has announced the launch of the Google Gemini Experience Zone to accelerate AI-driven innovation for enterprises.
Lupin: The pharma company Lupin reported a 74.1 per cent YoY surge in consolidated net profit at Rs 852.63 crore for the July-September quarter of FY25, aided by higher sales. Mumbai-based player's revenue came in at Rs 5,672.73 crore, up 12.6 per cent YoY. Indian generic drugmakers earn a significant share of their revenue from the US.
Indian Hotels Company: The hotel chain reported a 232 per cent YoY rise in its consolidated net profit at Rs 554.6 crore in September 2024 quarter. The revenue from operations increased 27.4 per cent YoY to Rs 1,826 crore crore in the reporting period. Ebitda for the quarter rose 41.3 per cent YoY to Rs 501.2 crore, while margins improve 270 bps to 27.4 per cent.
Steel Authority of India: The PSU player reported a 31 per cent YoY decline in consolidated net profit to Rs 897.15 crore for the second quarter of the current fiscal. Total income stood 16.80 per cent lower at Rs 24,842.18 crore during the months under review.
Emami: The FMCG major reported a 19 per cent YoY increase in its net profit for the second quarter ended September 2024 reaching Rs 213 crore, driven by improved margins and steady growth in domestic and international markets. Revenue from operations for the quarter rose by 3 per cent YoY to Rs 891 crore. Gross margins improved by 60 basis points to 70.7 per cent.
Cummins India: The unit of US-based truck engine maker reported a higher second-quarter profit at Rs 449 crore, up 36.5 per cent YoY, helped by robust demand for its engines and power generators. The company's revenue increased 30.6 per cent to Rs 2,508.6 crore due to price hikes, particularly for its CPCB 4+ generator sets.
Emcure Pharmaceuticals: The recently listed pharma player reported a 38.2 per cent YoY increase in net profit to Rs.202 crore in Q2FY25 led by strong performance of domestic and international business. Revenue grew by 20.4 per cent YoY to Rs 2,002 crore for the quarter. The company’s Ebitda rose 26 per cent YoY to Rs 417 crore crore, while the Ebitda margin stood at 20.8 per cent.
Rail Vikas Nigam: The state-run railway player recorded a 27.24 per cent YoY drop in its September 2024 quarter net profit at Rs 286.88 crore. Revenue from operations fell 1.21 per cent to Rs 4,854.95 crore for the period. Ebitda dropped 9 per cent YoY to Rs 271.5 crore, while margins tumbled 40 bps to 5.6 per cent for the quarter.
NHPC: The PSU utlity player reported 41 per cent decline in its consolidated net profit at Rs 909 crore in the second quarter ended September 2024. Revenue from operations in the July-September 2024 period increased 4 per cent YoY to Rs 3052 crore.
Va Tech Wabag: The water treatment player's net profit for the second quarter of the current fiscal rose 17 per cent YoY to Rs 70.3 crore. Revenue from operation rose 5.3 per cent YoY to Rs 700.3 crore. Ebitda for the period grew 8.4 per cent to Rs 93.3 crore.
IRCON International: The railway firm reported a 17.9 per cent YoY fall in its net profit at Rs 206 crore for the September 2024 quarter. The PSU player's revenue dropped 19.3 per cent YoY to Rs 2,447.5 crore. EBITDA during the September quarter dropped over 23 per cent to Rs 201 crore for the reported quarter.
Embassy REIT: The real estate investment trust has appointed Ritwik Bhattacharjee as its interim CEO. Bhattacharjee, who last held the position of Chief Investment Officer at the company, has been associated with the REIT since its listing and was a founding member of the team that helped list Embassy REIT in 2019.
ITD Cementation India: The engineering and construction firm reported a 34.3 per cent YoY surge in net profit at Rs 72 crore for the second quarter that ended September 30, 2024. Revenue from operations increased 23.6 per cent to Rs 1,991 crore. Ebitda increased 15 per cent to Rs 181.7 crore in the second quarter of this fiscal, while Ebitda margins stood at 9.1 per cent.