Stocks to Watch: Reliance, Ultratech Cement, AU SFB, NTPC, Gujarat Gas, MGL

Stocks to watch on October 30, 2023: Fincare Small Finance Bank is set to merge with AU Small Finance Bank (AU SFB) in an all-share deal; Gujarat Gas has hiked industrial gas price to Rs 45.6 per scm

Equity benchmark Sensex and Nifty indices are looking at a sombre start on Monday, tracking tepid moves elsewhere in Asia. At 7:30 am, the Gift Nifty futures were quoting 30 points down at 19,101.

In Asia, Japan's Nikkei 225 lost 1 per cent, South Korea's Kospi was flat, and Australia's and Hong Kong's key indices slipped 0.6 per cent each. 

For the new week, the US Federal Reserve's rate outcome on November 1 remains the key market mover. Brent crude prices and movement of US bond yields will also dictate market mood.

 

Meanwhile, here are stocks that may see some action today: 
 

Q2 earnings today: Adani Green, Castrol, Daawat, DLF, TVS Motor, UPL, GMR Infra, and Blue Star, among others.

Reliance Industries: RIL reported a 27.4 per cent YoY rise in its consolidated net profit to Rs 17,394 crore for Q2FY24. While revenue growth of the company was flattish YoY. Read

NTPC: The company reported over 38 per cent YoY rise in consolidated net profit at Rs 4,726.40 crore for Q2FY24. The board also approved the first interim dividend of this fiscal at the rate of 22.5 per cent (Rs 2.25 per share).

UltraTech Cement: The company has approved its third phase of expansion to reach 182 million tonnes per annum (MTPA) capacity in India. In its third phase, it will add another 21.9 MTPA for an investment of Rs 13,000 crore. T

AU Small Finance Bank: Fincare Small Finance Bank is set to merge with AU Small Finance Bank (AU SFB) in an all-share deal. Fincare shareholders will receive 579 shares of AU for every 2,000 shares held.

Gujarat Gas: It has hiked the industrial gas price to Rs 45.6 per scm to be effective from November 1, 2023. The hike is in line with the recent rise in spot LNG prices.

BPCL: BPCL posted a consolidated net profit of Rs 8,501 crore in Q2FY24 against a net loss of Rs 304 crore a year ago. The consolidated revenue fell about 9 per cent YoY to Rs 1.17 trillion.

IDFC First Bank: The bank reported a 35 per cent YoY rise in net profit at Rs 751 crore for Q2FY24.

Pfizer: The drug maker reported a 52.11 per cent decline in Q2FY24 net profit to Rs 148.96 crore. Revenue fell 9.76 per cent to Rs 575.21 crore in the quarter.

IRB Infrastructure Trust: It has received a letter of award from the NHAI for a project worth Rs 4,428 crore in Uttar Pradesh and Madhya Pradesh.

BEL: BEL reported a 33 per cent YoY jump in its standalone net profit to Rs 812.34 crore for Q2FY24.

HFCL: Launched 1,728 fibre intermittently bonded ribbon cables to meet the growing demand for high fibre count cables from data centres and boost 5G network infrastructure.

Panacea Biotec: Has launched Paclitaxel protein-bound particles for injectable suspension (albumin-bound), a generic version of Abraxane in the Canadian market.

SBI Card: The card player reported a 14.71 per cent YoY rise in its Q2 net profit to Rs 602.98 crore. Total revenue rose 22 per cent on-year to Rs 4,221 crore.

MGL: Mahanagar Gas reported a 106 per cent YoY rise in Q2FY24 consolidated net profit.