Indian benchmark indices are likely to open on a muted note, hinted SGX Nifty. Ahead of the week’s last trading session, Nifty futures were trading 22 pts or 0.12% down at 18092 on the Singapore Exchange, signalling a flat-to-negative start for domestic share market. In the previous session, BSE Sensex declined 70 points to 60,836, while NSE Nifty 50 fell 30 points to 18,053 “Markets are taking a breather after the recent surge and it’s healthy for the overall trend. However, the recent uptick in volatility on the global front especially in the US may trigger erratic swings in between. We expect the Nifty to find support within the 17800-17920 zone,” 

Stocks in focus on 4 November, Friday

Yes Bank: Yes Bank is expecting to close the deal involving the transfer of stressed assets to JC Flowers ARC by the end of this month, Prashant Kumar, MD & CEO of the bank, said, adding that it is undergoing certain legal process. Earlier, the bank had approved transfer of its stressed assets to JC Flowers ARC after accepting its bid of Rs 11,183 crore. The deal is expected to reduce bad loans from its balance sheet.

Vodafone Idea: Vodafone Idea on Thursday said its net loss rose 4.1% on-quarter to Rs 7,595.5 crore during the July-September quarter owing to higher finance cost and network operating expenses. In the previous quarter, the company had reported a net loss of Rs 7,296.7 crore. The debt-laden company’s consolidated revenues rose nearly 2% sequentially to Rs 10,615 crore, thanks to 4G subscriber additions and an increase in average spends by consumer on its network.

Raymond: Raymond on Thursday posted a consolidated net profit of Rs 159 crore for the second quarter ended September, nearly 198% higher from Rs 53 crore reported in the same period last fiscal. Revenues came in at Rs 2,191 crore, up by 38% against the previous year and by 15% for the corresponding pre-pandemic period. The company posted its highest Ebitda in the past decade of Rs 358 crore, with Ebitda margin of 16.3%.

Adani Enterprises: Adani Enterprises’ net profit soared to Rs 461 crore in the second quarter of fiscal year 2022-23 (Q2 FY23). The net profit has climbed by 117% on-year, as it stood at Rs 212 crore in the corresponding quarter of last year. Sequentially, however, the profit has declined by 1.81% from Rs 469.46 crore recorded in Q1 FY23. The company’s EDBITDA came in at Rs 1,869 crore as against Rs 883 crore recorded in the second quarter of last fiscal year.

HDFC: Housing Development Finance Corporation Ltd (HDFC) reported a net profit of Rs 4,454.24 crore for the July-September quarter, on-year increase of 17.8% on the back of robust loan growth. The housing finance company’s total interest income was Rs 13,142.93 crore, a growth of 24.2% from the year-ago period. Total revenue from operations was Rs 15,027.21 crore, up from Rs 12,215.95 crore in the year-ago period.

Q2 Results today: Britannia Industries, Cipla, Titan Company, GAIL India, InterGlobe Aviation, Aditya Birla Fashion and Retail, City Union Bank, Cummins India, Dreamfolks Services, Elgi Equipments, Escorts Kubota, Go Fashion (India), Mahindra Logistics, Marico, Tube Investments of India, TVS Motor Company, and Wockhardt will be in focus ahead of their September FY23 quarter earnings on November 4.