Stocks to watch: Adani Enterprises, Tech Mahindra, Ambuja Cement, ITC, HCL Tech and more

As they release their September quarter profits today, IndusInd Bank, Havells India, AU Small Finance Bank, HDFC Asset Management, Inox Leisure, Nestle India, and Ultratech Cement will be scrutinised.

In light of gloomy international indications, the Sensex and Nifty indices are set to open Wednesday’s session with a slight gain. The SGX Nifty quoted at 17,517 at 7:30 am, representing an initial increase of about 20 points on the Nifty index.

Q2 Result: Watch for the release of Q2 earnings on Wednesday from IndusInd Bank, UltraTech Cement, HDFC Asset Management, Nestle India, 5paisa Capital, AU Small Finance Bank, Metro Brands, Max Financial Services, Navin Fluorine International, Persistent Systems, Shoppers Stop, and Syngene International.


Stocks to watch today:

HCL Tech: Prior to its record date to select eligible shareholders for the third interim dividend payout of Rs 10 per share, HCL Technologies will go ex-dividend on October 19. HCL Tech reported strong second-quarter results, which helped the stock of the firm perform well. HCL Tech shares have increased by more than 6% on Dalal Street after its Q2 report. The majority of analysts are upbeat about the shares of HCL Tech.

L&T Technology Services: In comparison to the same quarter last year, L&T Technology Services’ net consolidated profit climbed by 22.7% to Rs 282 crore in the second quarter, reaching Rs 230 crore. In the first quarter of the current fiscal year, the company reported a net profit of Rs. 274.2 crore. In the second quarter, it increased its EBITDA by 5.6% to Rs. 362.8 crore from Rs. 343.3 crore.

Adani Enterprises: The Adani Group, through a division of Adani Enterprises, has acquired Air Works, the country’s second-oldest MRO facility, for a reported Rs 400 crore. The company owns seven airports, and its most recent acquisition will enable it to maintain aircraft in the airline, business jet, and defence industries.

Shares of telecom companies: In August, Mukesh Ambani-led Reliance Jio surpassed all competition to take the top spot among landline service providers in the nation. According to Trai data, Reliance Jio outperformed state-owned telecom operator and previous market leader BSNL with 7.35 million landline connections as of August 31 as opposed to 7.13 million connections.

Tech Mahindra: The leading provider of IT services revealed on Tuesday that it has reached an agreement with the Gujarat government to grow operations there by recruiting more than 3,000 people over the course of the next five years.

Ambuja Cements: The business reported on Tuesday that it raised Rs 5,000 crore and issued 477.4 million warrants to the Adani family business Harmonia Trade and Investment.

ITC: The company and Mother Sparsh have a contract in place for the company to purchase an extra 1000 compulsorily convertible preference shares. Once purchased, the aforementioned shares will increase the company’s ownership of Mother Sparsh to 22%.

Shalby: The hospital’s consolidated profit for Q2FY23 increased by 71.3% year over year to Rs 18.4 crore. Compared to the same period previous year, its income increased by 11% to Rs 201.8 crore.

Suven Life Sciences: The board approved setting the opening and closing dates for the next rights issue as Monday, October 31 and Thursday, November 10, respectively.

Jupiter Wagons: On Tuesday, Jupiter Wagons Ltd (JWL) announced that it had been chosen as the Stone India Limited’s (SIL) successful resolution application. SIL previously provided engineering products to the Indian Railways. The trading of Stone India has now been delisted. After the company didn’t pay its debts, lenders filed for insolvency. JWL’s railway product portfolio, which already include brake systems and other engineering goods, would be strengthened by Stone India.