The Indian benchmark indices rebounded after a three-day losing streak, closing higher on October 18. The Nifty climbed above the 24,850 mark, while the Sensex gained 218.14 points or 0.27% to close at 81,224.75. The Nifty also rose by 104.20 points or 0.42%, finishing at 24,854.
Here is the list of stocks to keep on your radar for today, October 21 2024 –
- Kotak Mahindra Bank: The bank has announced its agreement to acquire Standard Chartered Bank India’s personal loan portfolio, amounting to ₹4,100 crore ($490 million). This acquisition is expected to strengthen its retail lending operations.
- HDFC Bank: The private lender posted a 6% YoY increase in consolidated net profit, reaching ₹17,825.91 crore for Q2 FY25. On a standalone basis, HDFC Bank reported a net profit of ₹16,820.97 crore, with a 10% growth in core net interest income to ₹30,010 crore.
- Tech Mahindra: The IT services giant saw its Q2 FY25 net profit more than double to ₹1,250 crore, driven by gains from asset sales. Revenue increased by 3.49% to ₹13,313.2 crore.
- UCO Bank: The state-owned bank posted an impressive 50% YoY jump in net profit, hitting ₹602 crore for Q2 FY25. Its net interest income also saw a 20% increase, coming in at ₹2,300.4 crore.
- JSW Steel: JSW’s subsidiary, Jsquare Electrical Steel Nashik Private Ltd, is set to acquire Thyssenkrupp Electrical Steel India Private Ltd for ₹4,051.40 crore, further expanding its foothold in the electrical steel industry.
- Godrej Properties: The company has acquired a 3-acre land parcel in Vastrapur, Ahmedabad, with plans for premium residential developments. The project is expected to generate an estimated booking value of ₹1,300 crore.
- ICICI Lombard: The insurance provider posted a strong 20.2% YoY increase in net profit to ₹694 crore, supported by a 10.4% rise in Gross Direct Premium Income (GDPI).
- L&T Finance: The company reported a 25% YoY rise in revenue to ₹4,019.34 crore, driven by increased interest and fee income, while net profit grew by 16.8% to ₹695.58 crore.
- Jio Financial Services: The financial arm of Reliance Industries recorded a 3.1% YoY increase in net profit at ₹689.1 crore, with revenue from operations rising 14.1% to ₹693.5 crore.
- Oberoi Realty: The real estate developer reported a 28% YoY jump in net profit to ₹589.4 crore, with an 8.4% rise in revenue from operations to ₹1,320 crore.
These stocks are worth keeping an eye on as their financial results, acquisitions, and business strategies position them for further movement in the market on October 21.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
