The Singapore Exchange’s Nifty futures traded 135.5 points, or 0.79 percent, lower at 17,077.5, indicating that Dalal Street would have a bad start to the week.
The top stocks that will be the focus of today’s attention are listed below:
Q2 earnings watch: Watch for the release of the second quarter’s earnings on Monday from ACC, Can Fin Homes, Craftsman Automation, Heidelbergcement India, PVR, Tata Coffee, Tata Metaliks, RPG Life Sciences, Spandana Sphoorty Financial, Bank of Maharashtra, and Star Housing Finance.
Electronics Mart: The retailer of consumer goods and electronics will launch on the stock exchanges today. The company could list with a substantial premium of up to 50% above the issue price of Rs. 59 per share, according to IPO Watch.
Bajaj Auto: While the consolidated net profit fell 15%, Bajaj Auto’s net profit increased 20% year over year due to favourable currency movement and an increase in domestic two- and three-wheeler sales. In comparison to the same quarter last year, the company’s net profit grew to Rs 1,530 crore from Rs 1,275 crore.
Tata Steel: A company representative for domestic steel giant Tata Steel said on Friday that the company is actively pursuing financial help from the UK government for its operations there, despite rumours that the Tata family may be considering selling off its UK steel operations.
Concor: The Department of Investment and Public Asset Management (DIPAM) has requested a pre-expression of interest (EoI) roadshow of potential bidders this week in order to assess investors’ interest in the sale process of Container Corporation of India (Concor).
HDFC Bank: From July through September, the bank’s net profit increased by 20.1% year over year to Rs 10,605.8 crore. Additionally, according to Srinivasan Vaidyanathan, chief financial officer of HDFC Bank, the merger of HDFC Bank and HDFC Ltd may be finished a few months or a quarter earlier than the time frame previously stated.
HDFC: The National Company Law Tribunal (NCLT) has granted the go-ahead to organise a shareholders meeting in order to secure permission for the planned merger of HDFC with HDFC Bank. On November 25, 2022, a shareholder meeting will be called to discuss and approve the Scheme of Amalgamation.
Axis Bank: In a case involving the purchase and sale of shares by the Axis Bank and group firms, regulator Irdai fined Max Life Insurance Company Rs 3 crore for a number of offences. The Insurance Regulatory and Development Authority of India (Irdai) has also fined Axis Bank, the insurer’s corporate agent, Rs 2 crore.
Avenue Supermarts: The owner of the D-Mart retail chain reported a 64% increase in profit year over year for the second quarter of FY23, with revenue increasing by 36.6% to Rs 10,638.3 crore.
Adani Enterprises: For an undisclosed sum, the business will buy SIBIA Analytics and Consulting Services, a leader in advanced analytics and machine learning with offices in Kolkata.
Adani Ports: FCI has given Adani Agri Logistics the go-ahead to construct silo complexes in the states of Uttar Pradesh’s Kanpur, Gonda, and Sandila, as well as Bihar’s Katihar.
Dairy products: Mother Dairy has increased the cost of its full cream and cow milk varieties by Rs 2 per litre. In all states other than Gujarat, Amul has also raised the cost of its AmulGold & Amul Buffalo milk variations by Rs 2.
Dilip Buildcon: Gujarat Metro Rail Corporation has awarded the company a project worth Rs. 702.02 billion (GMRC).
Ahluwalia Contracts (India): For extra building work on a new medical college and hospital, the Assam government has awarded the company a contract worth Rs 110.7 crore.
Paytm: According to sources, Deependra Singh Rathore has been named interim chief executive officer (CEO) of Paytm Payments Bank in addition to his position as chief product & technology officer. After acquiring regulatory permissions, it will reveal the identity of the new CEO in a full-time capacity. The bank’s CEO, Satish Gupta, is planning to step down in October.