Stocks in news

Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, fundraising, and appointments, here’s a quick look at which stocks will be in focus in today's trade:

Results Today

HDFC Life Insurance Company, HDFC Asset Management Company, PVR Inox, Rallis India, DB Corp, Bank of Maharashtra, KEI Industries, Newgen Software Technologies, Coromandel Agro Products, Darshan Orna, DMR Hydroengineering, GM Polyplast, Gujarat Hotels, Lactose India, Morarka Finance, MRP Agro, Premium Capital Market, RO Jewels, SG Finserve, Sita Enterprises, Stylam Industries, Sybly Industries, Teamo Productions, Transchem, and Universal Arts will release their quarterly earnings scorecard on October 15.

Quarterly Earnings

Reliance Industries Q2 (Consolidated YoY)

Profit declines 2.8% to Rs 19,323 crore Vs Rs 19,878 crore

Revenue increases 0.8% to Rs 2,58,027 crore Vs Rs 2,55,996 crore

EBITDA drops 2% to Rs 43,934 crore Vs Rs 44,809 crore

Margin at 17% Vs 17.5%

Reliance Industries Q2 (Consolidated QoQ)

Profit jumps 10.8% to Rs 19,323 crore Vs Rs 17,445 crore

Revenue rises 0.08% to Rs 2,58,027 crore Vs Rs 2,57,823 crore

EBITDA increases 2.8% to Rs 43,934 crore Vs Rs 42,748 crore

Margin expands 40 bps to 17% Vs 16.6%

Jio Platforms Q2 (YoY)

Profit surges 23.4% to Rs 6,539 crore Vs Rs 5,299 crore

Revenue zooms 17.7% to Rs 37,119 crore Vs Rs 31,537 crore

Reliance Retail Ventures Q2 (YoY)

Profit rises 1.3% to Rs 2,836 crore Vs Rs 2,800 crore

Revenue falls 1.1% to Rs 76,302 crore Vs Rs 77,148 crore

HCL Technologies Q2 (Consolidated QoQ)

Profit falls 0.5% to Rs 4,235 crore Vs Rs 4,257 crore

Revenue rises 2.9% to Rs 28,862 crore Vs Rs 28,057 crore

EBIT jumps 11.8% to Rs 5,362 crore Vs Rs 4,795 crore

Margin expands 150 bps to 18.6% Vs 17.1%

Dollar revenue grows 2.4% to $3,445 million Vs $3,364 million

Revenue growth in constant currency at 1.6%

Company announces interim dividend of Rs 12 per share

The company estimates FY25 revenue growth at 3.5-5% YoY in constant currency terms and EBIT margin at 18-19%

Angel One Q2 (Consolidated YoY)

Profit jumps 39.1% to Rs 423.4 crore Vs Rs 304.5 crore

Revenue zooms 44.55% to Rs 1,514.7 crore Vs Rs 1,047.9 crore

Gopal Snacks Q2 (YoY)

Profit rises 6.2% to Rs 28.9 crore Vs Rs 27.2 crore

Revenue increases 12.6% to Rs 402.6 crore Vs Rs 357.7 crore

Sterling and Wilson Renewable Energy Q2

The company has received orders worth Rs 2,050 crore in the domestic market in Q2 FY25, including an order of Rs 823 crore received on October 15. It has achieved the highest-ever unexecuted order value of more than Rs 10,500 crore.

Sunteck Realty Q2 Business Update (YoY)

Pre-sales grow 32.7% to Rs 524 crore Vs Rs 395 crore

Collections increase 24.8% to Rs 267 crore Vs Rs 214 crore

Stocks To Watch

JSW Infrastructure

The company has received a Letter of Intent from the Maharashtra Maritime Board for the development, operation, management, and maintenance of an all-weather, multipurpose port at Palghar, Maharashtra. The development of the port will be on a public-private partnership (PPP) basis with a design, build, own, operate, and transfer (DBOOT) model.

Lyka Labs

The company has received product permission from the Central Drugs Standard Control Organization of India to manufacture and market Pregabalin Gel 8% w/w in India, following the completion of Phase III clinical trials. Pregabalin Gel is used for patients with diabetic neuropathic pain.

Zydus Lifesciences

The company has formalized a Memorandum of Agreement (MoA) with the Indian Council of Medical Research (ICMR) to initiate Phase 2 clinical trials of Desidustat in patients with sickle cell disease.

CESC

The company's subsidiary, Purvah Green Power, has signed a Share Purchase Agreement to acquire 100% of the share capital of Deshraj Solar Energy. Post-acquisition, Deshraj Solar Energy will become a step-down subsidiary of the company.

Autumn Investment and Infrastructure

The company has entered into a purchase cum shareholders agreement with India SME Asset Reconstruction Company (ISARC) to buy 79.28% of the expanded share capital of ISARC. The company will purchase 13 crore equity shares, representing 56.52% of the expanded share capital of ISARC for Rs 176.8 crore, and 5.235 crore shares, representing 22.76% of the expanded share capital of ISARC for Rs 85.3 crore.

Can Fin Homes

The Board will meet on October 22 to consider the unaudited financial results for Q2 FY25 and fund-raising of up to Rs 4,000 crore via the issuance of non-convertible redeemable debentures (NCDs) on a private placement basis, in one or more tranches.

CG Power and Industrial Solutions

The company has appointed Deven Jani as Vice President – Strategic Sourcing, effective October 14.

Chalet Hotels

The Finance (No. 2) Act 2024 has withdrawn the benefit of the Cost of Inflation Index and reduced the long-term capital gains tax rate from 20% to 12.5%. As a result, there will be a reversal of the deferred tax asset created on capital assets, amounting to Rs 203 crore, which will have a one-time non-cash impact on the profit after tax of the company. Furthermore, there will be a reversal of the deferred tax liability in the balance sheet, created on the revaluation of capital assets (IND AS transition April 1, 2016), amounting to Rs 55 crore.

Indian Overseas Bank

The bank has increased its lending rate by 5 bps for overnight and one-month tenures, effective October 15.

J Kumar Infraprojects

The construction company has received a work order worth Rs 297.83 crore from Pune Municipal Corporation. The project involves the development of the Mula River from Wakad Bypass to Sangvi Bridge (stretches 1, 2, and 3).

Bulk Deals

Nitco

JM Financial Asset Reconstruction Company sold a 2.78% stake in the company at an average price of Rs 93.76 per share.

TechEra Engineering (India)

Compact Structure Fund exited the company by selling its entire shareholding of 1.5% at an average price of Rs 184.28 per share.

Gujarat Petrosynthese

Life Insurance Corporation of India sold a 0.88% stake at an average price of Rs 72 per share. However, Manju Gaggar bought a 0.92% stake at an average of Rs 72.05 per share.

Gujarat Toolroom

Foreign portfolio investor Eminence Global Fund PCC- Eubilia Capital Partners Fund I sold a 5.14% stake at an average price of Rs 13.7 per share.

Block Deals

Transformers and Rectifiers (India)

Promoter Jitendra Mamtora sold a 1.8% stake in the company at an average price of Rs 780.3 per share, valued at Rs 210.68 crore. However, Stallion Asset, Pru World FD Inc, PGIM Funds Plc, New York State Teachers Retirement System, and Societe Generale, along with Advanced Series Trust - AST Prudential Growth Allocation Portfolio, bought the 1.8% stake at the same price.

Trent

Investor Siddhartha Yog bought a 0.29% stake in the company at an average price of Rs 8,115 per share, amounting to Rs 846.1 crore, from Dodona Holdings.

Mainboard Listing Today

Garuda Construction and Engineering

SME Listing Today

Shiv Texchem

Stocks Trade Ex-Date for Split

Abans Enterprises, Credent Global Finance

F&O Ban

Indian Energy Exchange, National Aluminium Company, Tata Chemicals, Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Manappuram Finance, Punjab National Bank, RBL Bank, SAIL