Stocks to Watch on Tuesday, October 17, 2023: Equity markets are likely to start Tuesday’s trading session on an upbeat note tracking strong gains among global peers.
At 07:00 AM, Gift Nifty futures quoted around 19,818, indicating a likely gap-up of 70-odd points on the NSE Nifty50 index.
Overnight, the US benchmark indices – Dow Jones, the S&P 500 and Nasdaq rallied over a per cent each on earnings optimism.
Closer home this morning, Japan’s Nikkei has rallied 1.5 per cent. Kospi and Taiwan were up over 0.5 per cent each.
Meanwhile, here are the stocks that are likely buzz in today’s trading session.
Q2 Results to Watch: Happiest Minds Technologies, Himadri Speciality Chemical, ICICI Prudential Life, IIFL Securities, L&T Technology Services, PCBL, Syngene International, Tata Elxsi, Tata Metaliks, TCI Express, VST Industries and Zensar Technologies are few of the prominent companies scheduled to announce September quarter earnings on Tuesday.
HDFC Bank: Announcing its first results after merger, the private sector lender reported a 50.6 per cent year-on-year (Y-o-Y) surge in net profit to Rs 15,976 crore. The merger had a noticeable impact on the bank’s asset quality, which deteriorated because of bad loans among the non-individual loans of the erstwhile HDFC. READ MORE
Grasim Industries: To raise Rs 4,000 crore through rights issue of shares. The fund raise comes a month after the company announced its plans to enter the paint business under the brand name ‘Birla Opus’ by end of this fiscal year. READ MORE
Jio Financial Services (JFS): In its first earnings after being demerged from Reliance Industries and listed on the stock exchanges, the company posted a 101.30 per cent growth in net profit at Rs 668.18 crore for the quarter ended September 30 as agasint Rs 331.92 crore in Q1FY24. Total income rose by 46 per cent QoQ (quarter-on-quarter) to Rs 608.04 crore from Rs 414.13 crore, partly helped by a dividend income of Rs 216.85 crore.
Sugar producers:The Centre may consider imposing stock limits on sugar trade if all entities engaged in the business don’t disclose their inventories on the official portal by Tuesday (October 17), a senior official said. Additionally, the government is likely to extend the current restrictions on sugar exports indefinitely after October 31. READ MORE
SpiceJet: The low-cost airline reached an interim settlement with Engine Lease Finance BV, putting a temporary hold on legal proceedings. As per the settlement terms, SpiceJet is supposed to pay over $2 million to the engine lessor by January. READ MORE
Ceat: Q2FY24 net profit soared 32-fold to Rs 207.72 crore when compard with Rs 6.40 crore in Q2FY23. The sharp growth was partly aided by a dip in raw material prices. Total income was up 5.5 per cent year-on-year (Y-o-Y) at Rs 3,053.32 crore
Karur Vysya Bank: Net profit rose 51 per cent YoY to Rs 378 crore as against RS 250 crore in the year ago period. Net interest income increased 11.5 per cent YoY to Rs 915 crore.
Bank of Maharashtra (BoM): Q2 net profit surged 72 per cent YoY to Rs 920 crore, while Net Interest Income (NII) expanded 28.9 per cent YoY to Rs 2,432 crore.
Battery makers: The government plans to introduce another production-linked incentive scheme for batteries to bring down cost and boost the adoption of electric vehicles in India, union minister R K Singh said. READ MORE
Mphasis: Appoints Ayaskant Sarangi, ex-Wipro, as its new Global Chief Human Resource Officer (CHRO). Sarangi will join the Executive Council and report directly to Nitin Rakesh, Chief Executive Officer and Managing Director of Mphasis.
Data Patterns (India): Has entered into a licensing and transfer of technology (ToT) agreement with IN-SPACe. The latter serves as an autonomous nodal agency within the Department of Space (DoS).
Cyient DLM: Net profit more-than-doubled to Rs 14.65 crore in the quarter ended September 2023 when compared with Rs 7.10 crore in Q2FY23. Total income surged 77.7 per cent YoY to Rs 301.12 crore.
ICICI Securities:Q2 net profit jumped by 41.5 per cent to Rs 423.83 crore for the quarter ended September 2023 as against Rs 299.45 crore in the year ago period. Total income was up 45.5 per cent YoY at Rs 1,248.61 crore.
Selan Exploration: Net profit for Q2FY24 was up 6.9 per cent YoY at Rs 9.42 crore, while total income grew by 21.6 per cent YoY to Rs 42.13 crore.
Stocks in F&O ban today: Balrampur Chini, BHEL, Delta Corporation, GNFC, Hindustan Copper, Indiabulls Housing Finance, India Cement, Manappuram Finance, MCX, PNB, SAIL and Sun TV are the 12 stocks in futures & options ban period on Tuesday.
