The Indian stock market is set to see action today with key companies announcing quarterly results and strategic developments. Reliance Industries reported better-than-expected Q2 profits, driven by a 7% rise in Jio’s ARPU and an improved margin in its O2C business. Maruti launched the Baleno Regal Edition across all variants of the New Age Baleno, aiming to attract a broader consumer base. HCLTech’s Q2 performance exceeded expectations, prompting the company to raise its lower-end revenue growth guidance to 3.5%. Meanwhile, IOC is set to form a joint venture with EverEnviro Resource, focusing on sustainable energy solutions.
Additionally, Angel One reported a significant improvement in Q2 margins, rising to 44.4%, with profits jumping 45% on a quarterly basis. Other notable movements include a sharp fall in Brent crude, which dropped nearly 3%, bringing it below $76 per barrel due to updates from West Asia and an OPEC demand cut. This could have an impact on oil and paint companies in today’s trading session.
List of stocks in focus today:
- Reliance: Q2 profit above estimates, Jio ARPU rises 7%, O2C business margin expands YoY.
- Maruti: Launches Baleno Regal Edition across all variants of the New Age Baleno.
- HCLTech: Q2 results beat estimates, raises lower-end of constant currency revenue growth guidance to 3.5%.
- OMCs/Paints Companies: Brent crude falls nearly 3%, below $76/bbl due to West Asia updates and OPEC demand cut.
- IOC: To form joint venture with EverEnviro Resource for sustainable energy solutions.
- CESC: Signs share purchase agreement to acquire Deshraj Solar Energy, executing 300 MW solar PV plant.
- Angel One: Q2 margin at 44.4%, profit up 45% QoQ.
- GIC RE: AM Best upgrades financial strength rating to A- (Excellent) from B++ (Good).
- Sunteck Realty: Q2 pre-sales up 32.7%, collections rise 24.8% YoY.
- IRCTC: 72,000 liters/day Rail Neer unit in Vijayawada starts production.
- J Kumar: Bags work order worth ₹297.8 crore from Pune Municipal Corporation.
- Ola Electric: Consolidates market share to 34% in October 2024.
- Landmark Cars: Q2 total revenue from operations up 14% YoY, up 9.5% QoQ.
- Lyka Labs: Gets CDSCO nod to manufacture & market Pregabalin Gel 8% in India.
- Honeywell: Bags airfield ground lighting project for Noida International Airport.
- Exxaro: Board approves stock split in the ratio of 1:10.
- ONGC/OIL: Brent crude falls nearly 3%, below $76/bbl due to West Asia updates and OPEC demand cut.
- Allcargo Terminals: September CFS volumes up 2% YoY, down 6% MoM.
- Gopal Snacks: Margin at 11.6% vs 12.7%, EBITDA down 1.4% YoY.
- Chalet Hotels: To reverse deferred tax assets & liabilities amounting to ₹203 crore.
As investors evaluate these developments, the market will be closely watching key corporate moves and the global crude price scenario, with potential shifts in sentiment as the day progresses.
Disclaimer: This information is for informational purposes only and should not be considered investment advice. Always seek independent financial advice before making any investment decisions.
