Stocks to watch on October 26: GIFT Nifty on the NSE IX was trading 44.5 points, or 0.23 percent, lower at 19,132, indicating that Dalal Street was heading for a negative start on Thursday. Here you’ll find a whole host of stocks that will be in the spotlight today for a variety of reasons.
Profits in the second quarter of 24: Asian Paints, Shriram Finance, Canara Bank, Colgate Palmolive India, Indian Bank, ACC, Coromandel International, Apar Industries, NLC India, Westlife Foodworld, Aavas Financiers, Aditya Birla Sun Life AMC, Jindal Saw, Medplus Health Services, Maharashtra Scooters, Laxmi Organic Industries, Railtel, Sterlite Technologies, Symphony, Prudent Corporate Advisory Services, Steel Strips Wheels, Voltamp Transformers, Paisalo Digital, Ugro Capital, Apcotex Industries, Venus Pipes & Tubes, Sadhana Nitrochem, Quick Heal Technologies, Kabra Exlusiontechnik, Punjab Chemicals & Crop Protection, DB Corp, Punjab National Bank, ISMT, Dixon Technologies, Agi Greenpac.
IRM energy: The stock will debut on the stock exchanges on Thursday, October 26, 2023. The company has a premium of 6 percent in the gray market, which indicates a likely listing price of Rs 537 versus the issue price of Rs 505.
Ash bank: Axis Bank on Wednesday posted a consolidated net profit of Rs 5,863.56 crore for Q2FY24, up 10 per cent year-on-year (year-on-year), on the back of margin improvement, higher revenues and healthy asset quality. Net interest margin (NIM) improved to 4.11 percent, compared to 3.96 percent a year ago.
Technical Mahindra: Tech Mahindra’s consolidated net profit for Q2FY24 fell 61.10 percent year-on-year to Rs 505.30 crore – the biggest decline in 16 years. While the total contract value of new deals rose 78 percent quarter-on-quarter to Rs 5,300 crore, it fell 10 percent year-on-year.
Adani Group: The audit regulator, National Financial Reporting Authority (NFRA), has approached several firms involved in the audit of listed companies in the Adani Group, seeking records and communications relating to the functioning of these audit firms in this diversified conglomerate, reported Bloomberg.
For its part, an Adani Group spokesperson said: “We strongly reject any suggestion that the Adani Group and its companies have not acted in accordance with the regulations and accounting standards of the jurisdictions in which we operate.”
Dependent industries: Reliance Jio has partnered with network services and consumer experience company Plume to deploy HomePass and WorkPass consumer services powered by Plume’s AI-powered and cloud-based platform, including adaptive whole-home WiFi, optimization of connected devices and applications, protection against cyber threats, etc
Cheering FoodWorks: Domino’s Pizza and Dunkin’ Donuts reported a 26 percent year-on-year decline in net profit to Rs 97.2 crore for Q2FY24. Sales increased 5 percent year-on-year, while Same Store Sales Growth (SSSG) contracted 1.3 percent, compared to 8.4 percent year-on-year growth.
Indus Tower: The telecom infrastructure company’s consolidated net profit rose 49 percent year-on-year to Rs 1,295 crore in the September quarter. However, consolidated revenue declined 10 percent year-over-year due to deferred costs.
CMS info systems: It reported 16.41 percent YoY growth in consolidated net profit at Rs 84.4 crore in Q2FY24. New operating profits stood at Rs 500 crore in the reporting quarter.
Sonata software: Net profit rose 10 percent year-on-year to Rs 124.2 crore for the September quarter, while revenue grew 28 percent year-on-year to Rs 1,912.6 crore. The company announced an interim dividend of Rs 7 per share for FY24. It also approved and recommended a bonus issue of 1 equity share for each equity share held by the company’s shareholders as of the record date.
TV18 broadcast: The NSE and BSE have issued letters to the company stating that material information relating to the strategic partnership with Reliance, Bodhi Tree Systems and Paramount Global relating to VMPL, a subsidiary of the company, has not been disclosed to the stock exchanges.
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