Stocks To Watch On October 23: Domestic markets continued their downward trend, losing over a percent in an ongoing corrective phase. In today’s trade, shares of Bajaj Finance, SBI Life, HUL, Adani Energy, Fedbank Financial among others will be in focus due to various news developments and second quarter results.
SBI Life, HUL, Bajaj Finserv
Shares of SBI Life, HUL and Bajaj Finserv will be in focus as the companies will announce their quarterly results for the July-September 2024 period.
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’s consolidated revenue surged 68.5 percent year-on-year to Rs 4,799 crore, and its net profit soared 388.88 percent to Rs 176 crore. Zomato also approved a QIP fundraising of up to Rs 8,500 crore.
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.
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.
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