The Singapore Exchange’s Nifty futures traded 124.5 points, or 0.72 percent, lower at 17,439.5, indicating that Dalal Street would begin the day on a positive note.
On October 17, the market continued to rise for another session and concluded close to the day’s high, mirroring the optimism of its international rivals. The surge was led by several IT, auto, and banking and financial services firms.
Nifty50 increased 126 points to 17,312 while the BSE Sensex increased 491 points to 58,411.
Stocks to watch today:
Tata Coffee: For the quarter that ended in September of FY23, the company’s consolidated profit increased by 172 percent year over year to Rs 147 crore, driven by the improved performance of its plantation and instant coffee businesses as well as a one-time exceptional income from the sale of a non-core property. The quarter saw a 31 percent YoY increase in consolidated revenue to Rs 718.3 crore, driven by stronger realisations across all businesses.
Zee Entertainment Enterprise: Invesco Developing Markets Fund will sell a 5.51 percent share in Zee Entertainment Enterprise in a block trade on Tuesday for up to $169.5 million, under the terms of the agreement. The stake would be sold for between Rs 250 and Rs 263.7 per share.
ACC: Due to a significant increase in fuel prices, the cement manufacturer posted a consolidated net loss of Rs 87.32 crore for the September quarter. A profit of Rs 450.21 crore had been reported by the company for the same period a year earlier.
Aster DM Healthcare: Aster Pharmacies Group LLC, a subsidiary, and Abdulmohsen Al Hokair Holding Group have formed a joint venture to build, run, and sell a network of pharmacies throughout the Kingdom of Saudi Arabia under the name “Aster Pharmacy.”
SJVN: A Memorandum of Understanding (MoU) was signed by SJVN. Subsidiary SJVN Green Energy and Assam Power Distribution Company (APDCL) to create 1,000 MW of floating solar power plants in Assam.
Star Housing Finance: The firm announced that the board of directors has approved the division of one fully paid-up equity share into two bonus equity shares, each with a face value of Rs. 5 (instead of the original Rs. 10) per fully paid-up equity share.
Indowind Energy: Due to a robust topline, the company achieved a consolidated profit of Rs 3.91 crore for the three months ended in September FY23, an increase of 587 percent. Comparing the current quarter to the same period in the previous fiscal, revenue increased by 65 percent to Rs 14.7 crore. Comparing the same period in FY22 to FY23, the consolidated profit climbed by 249% to Rs 5.61 crore and the revenue increased by 48% to Rs 22.5 crore.
Maharashtra Seamless: Subject to shareholder approval, the business has hired Sarat Kumar Mohanty as chief financial officer and suggested the issuance of bonus shares at a ratio of one bonus equity share for every existing share. Comparing the most recent quarter to the same quarter last year, its consolidated profit jumped by 86 percent to Rs 176.6 crore and its revenue by 49 percent to Rs 1,414.2 crore.
Spandana Sphoorty Financial: The non-banking financing firm turned a profit in the second quarter of fiscal year 23 with a net income of Rs 49.5 crore, up from a loss of Rs 222.68 crore and a loss of Rs 58.87 crore in the same quarters of fiscal year 22. Revenue increased by 21% sequentially but decreased by 24.5 percent on an annual basis to Rs 281 crore.
