 "Stocks to Watch today: Adani Group, DMart, HDFC Life, TaMo, Dalmia Bharat")
Stocks to Watch on Monday, October 16, 2023: India’s key benchmark equity indices are likely to start Monday’s trading session on a tepid note amid weakness in the Asian market in the backdrop of firm US bond yields, spike in Crude Oil prices and Israel-Palestine war.
At 08:00 AM, Gift Nifty futures quoted around 19,730 as against the spot Nifty50 index close of 19,754 last week.
On Friday, the US market finished mixed, with Nasdaq slipping over a per cent and the S&P 500 down 0.5 per cent; while Dow Jones added 0.1 per cent. Near home this morning, Nikkei shed 1.7 per cent, Kospi and Taiwan declined around 0.5 per cent each.
Meanwhile, here are the stocks that are likely to see action in Monday’s trade.
Q2 Results to Watch: Ceat, Choice International, Cyient DLM, Federal Bank, ICICI Securities, Jai Balaji Industries, Jio Financial Services, Bank of Maharashtra, NELCO, Orient Hotels, Selan Exploration, Tinplate Company of India and Yatra Online are few of the prominent companies among 24 scheduled to announce September quarter earnings on Monday.
Adani Group: The Gautam Adani Group plans to invest up to Rs 20,000 crore in expanding its cargo capacity at ports 4 times to 1 billion tonnes by 2030 to emerge as the world’s largest company in this field. READ MORE
Meanwhile, Adani Enterprises on Friday said that India's corporate affairs ministry was investigating the accounts of the group's two airports in Mumbai.
More From This Section
HDFC Life: The private insurer posted 15.5 per cent year-on-year (Y-o-Y) growth in net profit to Rs 376.77 crore for the quarter ended September 2023. Net premium income rose by 12.5 per cent YoY to Rs 14,755.96 crore from Rs 13,110.91 crore.
Tata Motors (TaMo): The auto major seems to be on track to become a zero net debt company for its domestic business in 2023-24, and for Jaguar-Land Rover (JLR) in FY25, according to analysts.
As part of the company’s strategy to divest stake in non-core assets, Tata Motors to sell 9.9 per cent stake for Rs 1,613 crore in Tata Technologies to TPG Rise Climate Fund (9 per cent) and Ratan Tata Endowment Foundation (0.9 per cent).
Avenue Supermarts (DMart): Q2 net profit slipped 9.1 per cent to Rs 623.35 crore for the quarter ended September 2023 when compared with Rs 685.71 crore in the quarter ended September 2022. Total income, however, was up 18.6 per cent YoY at Rs 12,661.29 crore from Rs 10,673.90 crore.
Dalmia Bharat: Reported 161.7 per cent surge in Q2FY24 consolidated net profit to Rs 123 crore when compared with Rs 47 crore in Q2FY23. Total income was up 7.5 per cent YoY at Rs 3,234 crore.
Texmaco Rail: Q2 consolidated net profit surged 70 per cent to Rs 202 crore for the quarter ended September 2023 as against Rs 118.83 crore in the corresponding quarter a year ago. Total income also jumped 63.8 per cent YoY to Rs 810.41 crore from Rs 494.66 crore.
Tata Steel Long Products: Q2FY24 net loss narrowed to Rs 460.23 crore as against a net loss of Rs 661.80 crore in Q2FY23. Total income increased by 57.7 per cent YoY to Rs 2,947.60 crore.
Speciality Restaurants: The Anjan Chatterjee-led firm to focus on oriental cuisine and Asia Kitchen by Mainland China for its next stage of expansion.
Ashok Leyland: Has secured an order for 1,666 buses from Tamil Nadu State Transport.
NHPC: Expects Rs 788 crore worth damages due to flash floods impacting its 510 MW Teesta-V Power Station in Sikkim. Company said, damages are fully insured.
Bajaj Electricals: Won a contract worth Rs 564 crore from Power Grid Corporation for 400 kV transmission lines in Andhra Pradesh.
Stocks in F&O ban on Monday: Balrampur Chini, BHEL, Delta Corporation, Hindustan Copper, Indiabulls Housing Finance, India Cement, L&T Housing Finance, Manappuram Finance, PNB, SAIL and Sun TV are the 11 stocks in futures & options ban period today.