Stocks to Watch Today: Maruti Suzuki, Indus Towers, SBI Cards, IDBI Bank, and Others
Stocks to Watch Today: Maruti Suzuki, Indus Towers, SBI Cards, IDBI Bank, and Others
Stocks to watch today: Shares of firms like Maruti Suzuki, Indus Towers, SBI Cards, IDBI Bank, and others will be in focus in Thursday's trade

Indian equity markets are likely to open marginally higher on the week’s last trading day, hinted SGX Nifty. Ahead of the session, Nifty futures were trading 40 pts or 0.23% higher on the Singapore Exchange, signalling a flat to positive start for NSE Nifty 50 and BSE Sensex.

Results Today

Maruti Suzuki India, Dr Reddy’s Laboratories, JSW Energy, Vedanta, Tata Power Company, Bandhan Bank, Blue Dart Express, CCL Products (India), Dwarikesh Sugar Industries, Eveready Industries India, NIIT, Satin Creditcare Network, Sona BLW Precision Forgings, Sumitomo Chemical India, and TTK Healthcare will be in focus ahead of September FY23 quarter earnings on 28 October.

Stocks in Focus

Aditya Birla Sun Life AMC: The asset management company has recorded a 10.75 per cent on-year increase in consolidated profit at Rs 191.68 crore for the quarter ended September FY23, driven by other income. Revenue from operations fell 6.3 per cent on-year to Rs 311 crore for the quarter.

Indus Towers: Indus Towers on Thursday reported a weak financial performance for the September quarter which can be attributed to collection challenges faced by the company from its clients. In the September quarter, the company’s consolidated net profit fell 44 per cent on-year to Rs 872 crore, whereas its revenue from operations rose 16 per cent on-year to Rs 7,967 crore.

PC Jeweller: The company on Thursday said it has defaulted on Rs 3,466.28-crore loan facilities from banks and financial institutions for the second quarter. In a stock exchange filing, the Delhi-based company said the total loan amount outstanding as on date was Rs 3,466.28 crore and that was the amount of default for Q2.

SBI Cards: SBI Cards and Payment Services on Thursday reported a 52 per cent on-year increase in its net profit for the three months ended September 30 to Rs 526 crore, led by an increase in revenue. Total income was at Rs 3,453 crore, higher by 6 per cent on-year, boosted by interest income, fees income and other income.

Dabur India: Dabur India will be launching all of its new products in a digitally first environment or through e-commerce channels going forward. This is its strategy to save on investments in establishing new products in a high inflationary environment. Additionally, with foods being an inflation-resistant category, the FMCG major is also beefing up focus on the segment.

IDBI Bank: The department of investment and public asset management (DIPAM) has given 13 more days till 10 November to interested parties to submit their written queries concerning the proposed disinvestment of the majority stake and transfer of management control in IDBI Bank. On 7 October, the Centre invited expressions of interest (EoIs) for IDBI Bank and offered to sell a total of 60.72 per cent stake in the bank, including 30.48 per cent held by the government and 30.24 per cent by LIC.

JSW Steel: JSW Steel USA, a subsidiary of JSW Steel, has tied up $182 million (around Rs 1,500 crore) of long-term financing from Italian banking firms Intesa Sanpaolo and Banco BPM. The funding will be used for modernisation of its plate mill project in Baytown, Texas. Of the total amount, $70 million is covered under SACE (Italian export credit agency) guarantee and the balance $112 million is a term loan.

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