
The stock market today is set to see a mix of gains and losses as several companies release updates on new deals, acquisitions, and financial performance. While some companies like HDFC Bank, BEL, and Nykaa are expected to shine with positive developments, others such as Tata Motors and Sobha may face challenges. Here’s a look at the top stocks in focus today and the reasons behind their movements.
Stocks to watch – Positive developments
- HDFC Bank: The bank’s board has approved the sale of its 100% stake in HDFC Education to Vama Sundari for ₹192 crore.
- Bharat Electronics Limited (BEL): Secured orders worth more than ₹500 crore since September 11.
- Nykaa: Reported Q2 revenue growth in the mid-twenties, primarily driven by its retail business.
- RITES: Bagged an order worth $5.4 million from Ntokoto Rail for diesel electric locomotives.
- Mahanagar Gas Ltd (MGL): Signed a non-binding term sheet to invest ₹385 crore in a joint venture with International Battery Co, acquiring a 40% stake.
- HEG: Acquired 8.23% stake in GrafTech International for ₹248.62 crore.
- Oberoi Realty: Scheduled a board meeting on October 10 to consider fundraising.
- MOIL: Recorded a 15% month-on-month increase in September production, reaching 1.46 lakh tonnes, and sales at 1.59 lakh tonnes.
- Yes Bank: Received ₹454 crore from two separate JC Flower ARC trusts for its NPA portfolio.
- Nuvoco: Selected as the preferred bidder for three limestone blocks in Rajasthan, with resources estimated at 28.43 million tonnes.
- Lemon Tree: Signed a license agreement for a 54-room hotel in Udaipur, Rajasthan.
- Puravankara: Purchased 3 acres and 4 guntas of land in Bangalore for a residential project.
- Hi-Tech Pipes: Launched a QIP to raise up to ₹600 crore, with an issue price of ₹185.50 per share.
Stocks to watch – Facing challenges
- Tata Motors: Reported a 10% year-on-year and quarter-on-quarter decline in Q2 Jaguar Land Rover (JLR) wholesale numbers.
- Godrej Consumer Products Limited (GCPL): Expected to miss its target of mid-teens EBITDA growth due to tough operating conditions in India.
- OMCs/Paint Companies: Crude oil prices have surged back near $80 per barrel due to escalating tensions in West Asia, potentially impacting operational costs.
- Sobha: Q2 sales declined by 27.5%, and realizations dropped by 20.4% on a quarter-on-quarter basis.
- Ola Electric: Received a show cause notice from the Central Consumer Protection Authority (CCPA) following recent news reports.
- Crompton: The Supreme Court dismissed its plea in a trademark infringement case against V-Guard.
As the market navigates these developments, investors will be keeping a close eye on both the positive and negative impacts these updates may have on stock prices. With several key decisions and performance reports being released, today’s market action is expected to be dynamic.
Disclaimer: Stock investments are subject to market risks. Please consult your financial advisor before making any investment decisions.