Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, and fund raising, here’s a quick look at which stocks will be in focus in today's trade:
Infosys, Wipro, Axis Bank, Nestle India, LTIMindtree, Tata Chemicals, Tata Communications, Ceat, Havells India, Jindal Stainless, Central Bank of India, Indian Overseas Bank, 5paisa Capital, Geojit Financial Services, Deccan Bearings, Dhanlaxmi Bank, Harshil Agrotech, Mahindra EPC Irrigation, National Standard, Polycab India, Quick Heal Technologies, Shemaroo Entertainment, Steel Exchange India, SW Investments, and Tanla Platforms will announce their quarterly earnings on October 17
Bajaj Auto Q2 (Standalone YoY)
Profit grows 9.2% to Rs 2,005 crore Vs Rs 1,836.1 crore
Revenue increases 21.8% to Rs 13,127.5 crore Vs Rs 10,777.3 crore
EBITDA jumps 24.3% to Rs 2,652.2 crore Vs Rs 2,132.9 crore
Margin expands 40 bps to 20.2% Vs 19.8%
L&T Technology Services Q2 (Consolidated QoQ)
Profit rises 1.9% to Rs 319.6 crore Vs Rs 313.6 crore
Revenue grows 4.5% to Rs 2,572.9 crore Vs Rs 2,461.9 crore
EBIT increases 1.1% to Rs 387.7 crore Vs Rs 383.6 crore
Margin falls 50 bps to 15.1% Vs 15.6%
Dollar revenue jumps 3.9% to $306.7 million Vs $295.2 million
Company reaffirms FY25 guidance of 8-10% revenue growth in constant currency, and EBIT margin of 17-18%
Company declares an interim dividend of Rs 17 per share
Aditya Birla Money Q2 (YoY)
Profit jumps 124% to Rs 26.7 crore Vs Rs 11.9 crore
Revenue grows 30.4% to Rs 125.7 crore Vs Rs 96.4 crore
Pondy Oxide and Chemicals Q2 profit zooms 168% YoY to Rs 15.3 crore, revenue grows 46%
Pondy Oxide and Chemicals Q2 (Consolidated YoY)
Profit surges 168.2% to Rs 15.3 crore Vs Rs 5.7 crore
Revenue increases 45.9% to Rs 579.1 crore Vs Rs 396.8 crore
CRISIL Q2 (Consolidated YoY)
Profit jumps 12.9% to Rs 171.6 crore Vs Rs 152 crore
Revenue grows 10.3% to Rs 811.8 crore Vs Rs 735.9 crore
EBITDA increases 16.8% to Rs 223.8 crore Vs Rs 191.7 crore
Margin expands 160 bps to 27.6% Vs 26%
Company declares interim dividend of Rs 15 per share
Kolte-Patil Developers Q2 Update
Collections grow 16% YoY and down 10% QoQ to Rs 550 crore
Sales value rises 22% YoY and 8% QoQ to Rs 770 crore
Realisation increases 16% YoY and 1% QoQ to Rs 7,472 per square feet
Sales volume jumps 5% YoY and 7% QoQ to 1.03 million square feet
Stocks To Watch
RVNL has emerged as the lowest bidder for a project worth Rs 270 crore from Maharashtra Metro Rail Corporation. The project involves the construction of 10 elevated metro stations.
The company has received a new contract worth Rs 375 crore for the construction of a 75 MW (AC) solar power plant from Maharashtra State Electricity Distribution Company. The project involves the implementation of feeder-level solarisation under Component C of the PM-KUSUM Scheme, including land and transmission line.
The company's subsidiary, Bikaji Foods Retail, will make a strategic investment of up to Rs 131.01 crore in Hazelnut Factory Food Products for the acquisition of its 53.02% stake in tranches. This acquisition is part of the company's overall strategy to develop and expand its quick service restaurant (QSR) business vertical.
The company has signed a Memorandum of Understanding (MoU) with Patel Engineering for collaboration and cooperation to jointly execute mutually beneficial business opportunities in various infrastructure projects in India and overseas.
The company's subsidiary, Sintex-BAPL, has completed the acquisition of a 100% stake in Weetek Plastic from the current shareholders. Following the acquisition, Weetek Plastic becomes a wholly owned step-down subsidiary of the company. Weetek Plastic manufactures plastic pipes, fittings, and water storage tanks with a combined capacity of 19 KMPTA in Raipur, Chhattisgarh.
The company's board has decided to invest up to GBP 69 million in EIH London Investments for a 100% stake. EIH London Investments has not yet commenced its business operations.
Aditya Birla Fashion and Retail
Aditya Birla Digital Fashion Ventures (ABDFVL), a wholly owned subsidiary of the company, has infused Rs 75 crore into Wrogn, increasing its shareholding in Wrogn from 17.10% to 32.84%.
The board has approved the issuance of non-convertible debentures worth up to Rs 1,500 crore on a private placement basis. Additionally, it plans to launch a residential project named Jardin at Oberoi Garden City, Thane, on October 18.
The design and technology services company has launched Coalesce, powered by the Snapdragon Spaces XR platform from Qualcomm Technologies Inc. Coalesce is an XR-based immersive collaboration solution that integrates spatial computing, digital twins, and simulations.
The cement major has added 1.2 MTPA grinding capacity at its Arakkonam plant in Tamil Nadu. With this addition, its total cement capacity has reached 156.06 MTPA.
The Government of India has decided to exercise a green shoe option of up to 2.5% in the offer for sale of Cochin Shipyard on October 17. The offer for sale was subscribed 2.16 times the base size by non-retail investors on October 16. The issue will be opened for retail investors on October 17. The government is selling a 5% stake (including a 2.5% base issue size and a 2.5% green shoe option) in Cochin Shipyard.
The passenger traffic in September grew by 9% YoY but fell by 4% MoM to 1.02 crore, while aircraft movements increased by 8% YoY and declined by 4% MoM to 67,018.
The total volume, including surface and air express, stood at 108 kt for September, increasing by 6.9% over the previous month, but falling by 0.9% from 109 kt in September 2023.
The company has fixed October 28 as the record date for determining the eligibility of equity shareholders for bonus equity shares. The issue of bonus shares was passed with more than the requisite majority in e-voting on October 15.
Bulk Deals
Mavira Growth Opportunities Fund has bought a 2.25% stake in Anlon at an average price of Rs 441.29 per share, and a 0.5% stake at an average price of Rs 456.37 per share.
Morgan Stanley Asia Singapore Pte bought a 0.57% stake in the company at an average price of Rs 1,120 per share, amounting to Rs 85.5 crore; however, Smallcap World Fund Inc sold a 0.59% stake in the company at an average price of Rs 1,120.12 per share, valued at Rs 88.6 crore.
SME Listing on October 17
Pranik Logistics
Stock Trades Ex-Date for Split
Harshil Agrotech
Stock Turns Ex-Dividend
Madhuveer Com 18 Network
F&O Ban
Bandhan Bank, Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Indian Energy Exchange, L&T Finance, Manappuram Finance, National Aluminium Company, Punjab National Bank, RBL Bank, SAIL, Tata Chemicals
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