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Stocks to Watch on Monday, October 23, 2023: Stock-specific action and global cues will guide investors on Monday. At 7:46 AM, Gift Nifty was quoting at 19,492 as against Nifty Futures' previous close of 19,523, indicating a loss of 31 points.
Elsewhere in Asia, markets are mostly lower ahead of a week of inflation readings from across the region and South Korea's third-quarter gross domestic product numbers.
In Australia, the S&P/ASX 200 fell 0.81 per cent, Japan's Nikkei 225 slipped 0.37 per cent, while South Korea's Kospi was trading just below the flatline. Hong Kong markets are shut today.
Last Friday, the S&P 500 shed 1.26 per cent, the Nasdaq Composite dropped 1.53 per cent, and the Dow Jones Industrial Average lost 0.86 per cent after 10-year Treasury yields topped 5-per cent mark.
Meanwhile, here's a list of stocks to watch today:
Q2FY24 earnings today: Torrent Pharmaceuticals, Lloyds Metals and Energy, PNB Housing Finance, Alok Industries, Mahindra Holidays & Resorts India, Kewal Kiran Clothing, Mahindra Logistics, New Delhi Television, and Ganesha Ecoverse.
ICICI Bank: The private lender, on Saturday, reported a 36 per cent rise in standalone net profit to Rs 10,261 crore for the September 2023 quarter, aided by an improvement in interest income.
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Its net interest income (NII) increased by 24 per cent year-on-year to Rs 18,308 crore, while net interest margin climbed to 4.53 per cent.
Kotak Mahindra Bank: It reported a consolidated net profit of Rs 4,461 crore for Q2FY24 – a growth of 24 per cent over the same period last year. Its NII improved by 23 per cent YoY, while NIM expanded to 5.22 per cent.
One97 Communications (Paytm): Paytm said its revenue increased 32 per cent YoY to Rs 2,519 crore in the second quarter, with its consolidated net loss narrowing to Rs 291 crore from Rs 571 crore a year ago.
Oil Marketing Companies (OMCs): OMCs have floated tenders for the supply of 8.25 billion litres of ethanol from all sources for the FY24 supply year that will start from November 1, which is required to meet the 15 per cent blending target for the period.
Blue Star: Received Rs 3.4-crore demand notice from Mumbai Stamps Collector.
Rossari Biotech: Revenue from operations reached Rs 483.5 crore in Q2FY24, compared to Rs 425.4 crore YoY. Though Ebitda rose to Rs 63.6 crore (vs Rs 56.5 crore YoY), Ebitda margin fell marginally to 13.2 per cent (vs 13.3 per cent YoY).
Profit After Tax (PAT) soared to Rs 32.9 crore as against Rs 23.9 crore YoY.
Samvardhana Motherson: The company has announced a series of acquisitions: Approved acquisition of 73.05 per cent (on a fully diluted basis) in Irillic Private Limited; Entered into an agreement to acquire 100 per cent stake in SSCP Aero Topco SAS; Approved to acquire 100 per cent stake of Samvardhana Motherson Adsys Tech Limited from Motherson Auto Limited.
YES Bank: It reported a 47 per cent YoY increase in quarterly net profit to Rs 225 crore, helped by a drop in loan-loss provisions and healthy loan growth.
NII, however, declined to Rs 1,925 crore from Rs 1,991 crore YoY.
LIC, Hudco: LIC: Life Insurance Corporation has increased stake in Housing & Urban Development Corporation from 5.22 per cent to 8.90 per cent.
IDBI Bank: IDBI Bank, on Saturday, reported a 60 per cent rise in net profit to Rs 1,323 crore for the September quarter.
Aditya Birla Fashion and Retail: Aditya Birla Digital Fashion Ventures, wholly owned subsidiary of the ABFRL, has entered into Shareholders Agreement and Share Subscription Agreement for acquisition of 51 per cent stake of Styleverse Lifestyle Private Limited on a fully diluted basis.
JSW Steel: Reported net profit of Rs 2,773 crore for the September quarter as against a net loss in the same quarter last fiscal.
Amber Enterprises: Net loss widened to Rs 5.65 crore in Q2FY24 as against loss of Rs 2.29 crore last year. This was, however, lower than Bloomberg's estimates of Rs 9.5 crore.
Tejas Networks: Appointed Sumit Dhingra as chief financial officer (CFO) with effect from December 1, 2023.
