Stocks to Watch, Oct 23: Zomato, Adani Green, RIL, Indus Towers, IIFL Sec

Stocks to Watch, October 23, 2024: Zomato witnessed a consolidated revenue surge of 68.5 per cent year-on-year to Rs 4,799 crore, with a net profit soaring by 388.88 per cent to Rs 176 crore

Stocks to watch on Wednesday, October 23, 2024: Indian equities are eyeing a flat opening on Wednesday, indicated GIFT Nifty, the futures were trading just 9 points higher than Nifty50 futures at 24,547 level. 

On Tuesday, the bourses retreated heavily pressured by continuing selling by foreign institutional investors and a meek earnings season. 

The BSE Sensex closed 930 points down or 1.15 per cent at 80,220.72, while the Nifty50 settled at 24,472.10, slipping 309 points or 1.25 per cent.

Meanwhile, for Wednesday, below are some hot stocks to keep tabs on:

Adani Green: The company saw a consolidated revenue increase of 38 per cent year-on-year, amounting to Rs 3,055 crore, with Ebitda up by 30 per cent to Rs 2,205 crore and a net profit rise of 39 per cent to Rs 515 crore.

 

Zomato: Zomato witnessed a consolidated revenue surge of 68.5 per cent year-on-year to Rs 4,799 crore, with a net profit soaring by 388.88 per cent to Rs 176 crore. Zomato also approved a fundraise of up to Rs 8,500 crore via QIP.

Persistent Systems: The company saw a consolidated revenue growth of 5.84 per cent to Rs 2,897 crore, with a net profit increase of 6.2 per cent at Rs 325 crore.

Indus Towers: The company experienced a consolidated revenue increase of 4.66 per cent to Rs 7,465 crore, while net profit rose by 71.79 per cent to Rs 2,223 crore.

Bajaj Finance: The company reported a consolidated revenue growth of 27.72 per cent year-on-year, reaching Rs 17,095 crore, with a net profit increase of 13.03 per cent at Rs 4,014 crore. The net interest income rose by 23 per cent to Rs 8,838 crore, while assets under management (AUM) grew by 29 per cent to Rs 3.73 lakh crore.

IIFL Securities: The company reported a consolidated total income increase of 32 per cent to Rs 704 crore, with net profit up by 90 per cent at Rs 205 crore.

Max Financial: The company’s total income grew by 31.3 per cent to Rs 13,376 crore, although net profit declined by 18.2 per cent to Rs 139 crore.

M&M Finance: The company reported a revenue from operations increase of 21 per cent to Rs 3,897 crore and a net profit rise of 57 per cent to Rs 369 crore.

Amber Enterprises: The company experienced significant growth, with consolidated revenue up 81.7 per cent year-on-year at Rs 1,685 crore and a net profit turnaround to Rs 21 crore from a loss of Rs 5.7 crore.

Zensar Technologies: The company reported a consolidated revenue increase of 1.55 per cent to Rs 1,308 crore, although Ebit fell by 29.04 per cent to Rs 171.5 crore, resulting in a net profit decrease of 1.26 per cent to Rs 156 crore.

Reliance Industries: The Competition Commission of India has approved the merger between RIL and Disney, with conditions including a prohibition on bundling TV ad slot sales for IPL, ICC, and BCCI cricket rights until current agreements expire.

Reliance Infrastructure: The company announced that its subsidiary, Reliance Defence Ltd., will establish the largest integrated facility for manufacturing explosives, ammunition, and small arms in Ratnagiri, Maharashtra.

Bharti Airtel: The Competition Commission of India has approved Bharti Airtel's plan to increase its stake in Indus Towers, following a share buyback by the telecom infrastructure company.

Firstsource Solutions: The company plans to develop a domain-specific large language model tailored for the mortgage process.

Sonata Software: The company has secured a multi-year AI-powered managed services contract.

Choice International: Choice Finserv, a unit of the company, will acquire the retail lending business of Paisabuddy Finance and Sureworth Financial Services.

Imagicaaworld Entertainment: The company’s water park unit in Surat is set to resume operations in the first week of November.

Power Grid Corp: The company has been declared the successful bidder for an inter-state transmission project in Rajasthan.

NHPC: The company reported a loss of Rs 328 crore due to damage from a landslide at the Teesta-V Power Station.