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Stocks to Watch on Friday, October 20, 2023: Equity markets are likely to witness another round of weakness today as the crisis in the Middle East aggravates. That apart, further spike in US Treasury yields and Crude Oil prices would weigh on the sentiment.
The Israel war has now entered its 13th day. Earlier in the day, the US Navy had reportedly intercepted 3 missiles fired from Yemen towards Israel. Meanwhile, the US President is likely to seek a $100 billion funding request in aid for Ukraine, Israel.
Back to the market, the 30-year US Treasury bond yield quoted at 5.1 per cent, while the 10-year yield inched closer to the 5 per cent mark. Brent Crude Oil now topped the $93-mark.
Overnight, the US market declined up to 1 per cent. This morning markets in the Asia-Pacific region were down up to 2 per cent, with Kospi leading the fall.
At 07:00 AM, Gift Nifty futures quoted around 19,510, suggesting another 100-point gap-down for the NSE Nifty50 benchmark index.
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Meanwhile, here are the stocks that are likely to see some action on Friday.
Q2 Results to Watch: Atul Auto, Central Bank of India, Century Textiles, CG Power & Industrial Solutions, Elecon Engineering, Glenmark Life Sciences, Goa Carbon, Hindustan Zinc, ICRA, J&K Bank, JSW Energy, JSW Steel, Just Dial, Kajaria Ceramics, L&T Finance Holdings, Laurus Labs, Paytm, Sasken Technologies, Sunteck Realty and Tejas Networks are few of the prominent companies scheduled to report September quarter results today.
Hindustan Unilever (HUL): The FMCG major reported a marginal decline in consolidated net profit for the quarter ended September 30, 2023 to Rs 2,656 crore, down 0.3 per cent from a year ago period. Total income, however, was up 3.1 per cent year-on-year (YoY) at Rs 15,364 crore. READ MORE
ITC: Reported a 6 per cent YOY rise in consolidated net profit for Q2FY24 at Rs 4,898.07 crore from Rs 4,619.77 crore. Total income was up 3.9 per cent YoY at Rs 17,774 crore.
Zomato: SoftBank’s venture capital fund SVF Growth, Singapore, to sell 1.1% stake in Zomato at Rs 111.65 per share, amounting to Rs 1,024 crore, CNBC TV-18 reported on Thursday.
UltraTech Cement: Net profit surged 69 per cent YoY to Rs 1,281 crore for Q2FY24. Net sales rose by 15.3 per cent to Rs 16,012 crore.
Dixon Technologies: In a step-down from its earlier move, the Indian government on Thursday said it will not restrict import of laptops and other IT hardware products. READ MORE
Tata Motors: To pick 26.8 per cent stake in digital logistics solutions firm Freight Tiger for Rs 150 crore. As per the Securities Subscription Agreement (SSA) signed, Tata Motors can invest another Rs 100 crore over the next two years in the company.
MphasiS: Q2FY24 consolidated net profit declined 6.3 per cent to Rs 391.95 crore when compared with Rs 418.46 crore in Q2FY23. Total income was also down 6.6 per cent YoY at Rs 3,325.54 crore.
United Breweries: Posted a 20 per cent YoY decline in consolidated net at Rs 107.17 crore for Q2FY24. Total income, however, increased by 14 per cent to Rs 4,204.95 crore.
Tata Communications: Q2 net profit plunged 58.6 per cent to Rs 221.26 crore for the quarter ended September 2023 when compared with Rs 534.26 crore in the corresponding quarter a year ago. Total income was up 9.6 per cent YoY at Rs 4,897.86 crore.
Tata Coffee: Q2 net profit dropped to Rs 32.65 crore for the quarter ended September 2023, down 77.3 per cent from a year ago period. Total income declined 1.7 per cent to Rs 268.93 crore.
Havells India: Posted a 33.3 per cent growth in net profit at Rs 249.10 crore for Q2FY24 when compared with Rs 186.87 crore in Q2FY23. Total income was up 6.2 per cent YoY at Rs 3,943.63 crore.
Voltas: Reported a turnaround in Q2 with a net profit of Rs 36 crore for the quarter ended September 2023 as against a net loss of Rs 6 crore in the year ago quarter. Total income rose 29 per cent YoY to Rs 2,364 crore.
Equitas Small Finance Bank: Net profit zoomed 70.2 per cent YoY to Rs 198.14 crore for Q2FY24. Total income was up 34.2 per cent to Rs 1,540.37 crore.
Updater Services: Q2FY24 net profit rose 13.7 per cent to Rs 12.39 crore from Rs 10.90 crore in Q2FY23. Total income jumped 20.7 per cent to Rs 579.16 crore.
Metro Brands: Q2 net was up 7.7 per cent at Rs 79.45 crore for the quarter ended September 2023 as against Rs 73.77 crore a year ago. Total income increased 15.8 per cent YoY to Rs 550.18 crore.
HFCL: Q2 net profit declined 10.9 per cent to Rs 67.55 crore for Q2FY24 from Rs 75.84 crore in Q2FY23. Total income was down 8.7 per cent YoY at Rs 1,019.36 crore.
Butterfly Gandhimathi Appliances: Q2 net plunged 42 per cent YoY to Rs 14.59 crore for the quarter ended September 2023. Total income declined 16.3 per cent to Rs 307.97 crore.
Stocks in F&O ban today: Balrampur Chini, Delta Corporation, GNFC, Indiabulls Housing Finance, India Cements, Manappuram Finance and MCX are in futures & options ban period on Friday.
