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As US 10-year bond yield retreated to 4.67 per cent, US indices rose 1.7-1.9 per cent overnight. The Gift Nifty futures, up 50 points, also suggest a positive start for the Indian Nifty benchmark.
Investors are betting the US Federal Reserve is done raising rates for 2023. Asian markets elsewhere also jumped with Hang Seng, S&P/ASX 200 and Kospi indices up over 1 per cent.
Meanwhile, here are some stocks to watch:
Q2 earnings today: Titan, Zomato, JSW Infra, MRF, Escorts Kubota, Bharat Dynamics, Indigo Paints, Shipping Corp and MSTC, among others.
Tata Motors: Tata Motors posted a consolidated net profit of Rs 3,764 crore for Q2FY24 over a net loss of Rs 944 crore in the same period a year ago. The company’s revenues from operations rose 32 per cent YoY to more than Rs 1.05 trillion.
Adani Green: The renewables firm is in talks with a group of foreign lenders to borrow as much as $1.8 billion, reported Bloomberg.
IEX: The firm posted over a 21 per cent YoY rise in consolidated net profit to Rs 86.46 crore in the September quarter. Revenue rose 14 per cent YoY to Rs 109 crore.
Adani Enterprises: It reported a 50 per cent YoY drop in Q2 profit to Rs 228 crore. Net sales also dipped 41 per cent to Rs 22,517 crore.
Concor: Its consolidated net profit jumped 22 per cent YoY to Rs 481.76 crore in Q2FY24. Revenue rose 10.5 per cent YoY to Rs 2,195 crore.
Tatva Chintan Pharma: Consolidated profit rose 9.4 per cent YoY to Rs 7.8 crore. Revenue was up 7.3 per cent at Rs 96.7 crore in Q2FY24.
Gujarat Gas: The CGD posted over a 26 per cent drop in Q2 profit to Rs 298 crore from Rs 404 crore a year earlier. Revenue fell over 2 per cent to Rs 3,991 crore.
Chaman Lal Setia: Revenue rose 15.8 per cent YoY to Rs 308.7 crore in Q2. Net profit jumped 30 per cent to Rs 26 crore.
Sheela Foam: The company reported a 17 per cent drop in Q2 net profit to Rs 44.3 crore from a year ago. Revenue slipped 10 per cent to Rs 613 crore.
NBCC India: The company bagged two orders worth Rs 212 crore from the Haryana government for the supply of equipment to medical colleges.
Mahindra & Mahindra Finance: The company estimated to have recorded an overall disbursement of nearly Rs 5,250 crore in October. YTD disbursements were 16 per cent up YoY at Rs 30,700 crore.
Dixon Technologies: The company incorporated Dixtel Infocom for electronic manufacturing and wholesale trade.
Atul: Its board meeting will be held on November 07 to consider a buyback proposal.
Hikal: The firm reported a 49.39 per cent YoY fall in Q2 consolidated net profit to Rs 12.57 crore. Revenue came 22 per cent lower at Rs 435 crore. The board approved the proposed acquisition of up to 26 per cent stake in FPEL Ujwal.
