Stocks to Watch: Axis Bank, ITC, Asian Paints, Bajaj Finance, YES Bank, RIL

Stocks to Watch: The Competition Commission of India (CCI) has approved Carlyle Group and Advent International's acquisition of up to 10 per cent stake each in YES Bank

The Sensex and Nifty indices may open lower on Friday amid weak global cues and withdrawal of foreign investors.  

At 07:30 am, the SGX Nifty quoted at 17,495, indicating an opening loss of 50 points on the Nifty index.

Overnight, US equities declined for a second day, falling up to 0.8 per cent as the 10-year bond yield touched 4.23 per cent, the highest level seen since 2008. 

Most Asian indices also traded lower this morning with the Nikkei and Kospi down up to 0.4 per cent each. 

That said, here are some stocks to watch out in trade today: 

Q2 earnings watch: Reliance Industries, Hindustan Unilever, Bajaj Finserv, HDFC Life Insurance Company, JSW Steel, SBI Life Insurance Company, Ambuja Cements, IDBI Bank and United Spirits will release their results today. 

Asian Paints: The company’’s net profit increased 31.3 per cent year-on-year (YoY) to Rs 783 crore in the quarter ended September thanks to price increases and strong demand in the domestic decorative business. The company will also set up a manufacturing facility for vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) in India for a proposed investment of approximately Rs 2,100 crore over a period of three years. Read here

Axis Bank: The bank reported a 70 per cent year-on-year rise in standalone net profit for the July-September quarter at Rs 5,329.77 crore as a healthy increase in net interest income and margins boosted the private lender’s bottom line. Read here

Bajaj Finance: Bajaj Finance booked its highest-ever quarterly consolidated net profit in July-September (Q2FY23) quarter, backed by healthy growth in net interest income (NII) and lower loan loss provisions. Its net profit for the quarter jumped 88 per cent YoY to Rs 2,781 crore. Read more

ITC: The tobacco-to-hotels major on Thursday reported 24.4-per cent year-on-year (YoY) jump in its consolidated net profit in the July-September quarter (second quarter, or Q2), which came in at Rs 4,619.77 crore. In the year-ago period, profit was at Rs 3,713.76 crore. Read here

Colgate-Palmolive (India): The company reported quarterly profit above market estimates on Thursday, benefiting from price increases. The price increases drove profit at Colgate-Palmolive around 3% higher from a year earlier to Rs 2.78 billion Indian ($33.51 million). Read here

Dhanlaxmi Bank: The bank said on Thursday its largest shareholders were seeking to curb the spending powers of its chief executive officer, escalating a bitter shareholder battle with the private lender's management. Read more

Wipro: The company announced today the appointment of Suzanne Dann as Chief Executive Officer of Wipro Americas 2 Strategic Market Unit, effective immediately. Dann will also join the Wipro Executive Board. Read here

Coforge: The company on Thursday reported a consolidated net profit of Rs 220.6 crore for Q2 FY23, an increase of 36.6 per cent year-on-year (YoY). This is against a net profit of Rs 161.5 crore in the year-ago period, the company said in a regulatory filing. Read here

YES Bank: The Competition Commission of India (CCI) has approved Carlyle Group and Advent International’s acquisition of up to 10 per cent stake each in YES Bank. 

K.P. Energy: The company received order for Erection and Installation of 10.5MW wind power project from AB REL Century Energy Limited.

KNR Constructions: The company has transferred its remaining 51 per cent equity stake in subsidiary company KNR Tirumala Infra Private Limited (“SPV”) to Cube Highways and Infrastructure III Pte. Ltd.

Indus Towers: The board will meet on October 27 to consider the proposal for raising of funds through issuance of Non-Convertible Debentures (NCDs).

Nazara Technologies: The company will appoint founder Nitish Mittersain as CEO, effective December 1, 2022. Sudh

Kamath has been appointed new COO, effective October 20.

HIL: The company acquired the entire business undertaking of Fast Build Blocks through a slump sale arrangement on a going concern basis for Rs 37 crore.

Lakshmi Machine Works: The board approved the proposal to invest Rs 50 crore in the unsecured compulsorily

convertible debentures issued by LMW Aerospace Industries, a wholly owned subsidiary of the company.

Stocks in F&O ban: Delta Corp, Indiabulls Housing Finance, India Cements, BHEL, Zee Entertainment.