On October 19, although giving up some of its gains in the afternoon trade and closing below the day’s high, the market was able to maintain its upward trend for the fourth straight session. The market closed in the black with aid from ITC, Reliance Industries, and the HDFC twins. The Nifty50 increased by 25 points to 17,512 while the BSE Sensex increased by approximately 150 points to 59,107.
Results on October 30
Several companies will be the focus of attention going forward, including ITC, Asian Paints, Axis Bank, Bajaj Finance, Tata Consumer Products, Colgate Palmolive, Aarti Drugs, Canara Bank, Central Bank of India, Clean Science and Technology, Coforge, Dixon Technologies, Happiest Minds Technologies, ICRA, Indian Energy Exchange, ICICI Securities, L&T Finance Holdings, Mphasis, Nazara Technologies, Shriram Transport Finance, Symphony, Tanla
Stocks to watch today:
Tracxn Technologies: Shares of Tracxn Technologies Limited will begin trading on secondary markets today because the company’s initial public offering (IPO) date is October 20, 2022. The equity shares of Tracxn Technologies Limited will be listed and admitted to dealings on the Indian stock market exchanges in the list of the “B” group of securities in Special Pre-open Session, according to information published on the BSE website, effective as of Thursday, October 20, 2022. (SPOS).
IndusInd Bank: Private lender IndusInd Bank reported a surge in net profit of 60.4% to 1786.72 cr for the September quarter on Wednesday. For the same quarter, there was a net profit of Rs. 1113.53 crore. The bank’s provisions for the quarter decreased by more than 33% year over year, from Rs. 1706.95 crore to Rs. 1,141.06 crore. Provisions for the June quarter totaled Rs. 1,250 crore.
New Delhi Television: On Wednesday, Adani Group stated that it was committed to completing the open offer process to purchase a further 26% interest in NDTV. SEBI has been requested to comment on the Adani Group’s draught open offer letter. The group was late for the open offer debut date for NDTV. In August, the group purchased Vishvapradhan Commercial Pvt Ltd (VCPL), a lesser-known business that had given the founders of NDTV more than 400 crore.
Havells India: As a result of rising commodity prices, Havells India Ltd. on Wednesday announced a 38.15% fall in its consolidated net profit to Rs. 187.01 crore for the second quarter that ended on September 30, 2022. The manufacturer of consumer electrical products reported a combined net profit of Rs. 302.39 crore in the quarter from July to September of the previous year. Havells’ operating revenue increased by 13.63% to Rs. 3,679.49 crore.
SJVN: State-owned SJVN announced on Wednesday that it had won a 105 MW floating solar project from Maharashtra State Power Generation Company in an electronic reverse auction for Rs.730 crore (MAHAGENCO). In a statement, SJVN’s chairman and managing director, Nand Lal Sharma, announced that the company has won a 105 MW floating solar project in an e-reverse auction sponsored by MAHAGENCO.
Bharat Electronics: According to a regulatory filing, electric vehicle manufacturer Triton Electric Vehicle India has given a letter of intent to defense-related public sector organisation Bharat Electronics for the purchase of battery packs for its semi-truck project in India at an estimated cost of Rs.8,060 crore. According to the petition, Bharat Electronics (BEL) must supply the 300 kW lithium-ion battery packs to Triton within 24 months beginning in January 2023.
Tata Motors: On Wednesday, Tata Motors said that ride-hailing service Evera has placed an order for 2,000 XPRES T EVs. “Evera has been associated with us since a long time, and we are delighted to further strengthen this tie-up, by signing an agreement of delivering 2,000 EVs to them,” Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said in a statement.
AU Small Finance Bank: On Wednesday, AU Small Finance Bank (SFB) announced a 23% increase in net profit for the quarter ending in September, coming from solid growth in loan disbursals and a steady decline in bad loans. The lender with headquarters in Jaipur reported a net profit of Rs.279 crore during the same time of the previous fiscal year. During the July–September 2022–23 period, the bank’s net interest income (interest earned minus interest expenditure) increased by 44% to Rs.1,083 crore.
NHPC: According to LIC’s regulatory filing, between March and October of this year, it sold shares worth 700.79 crore. According to IT, its ownership in the hydropower producer NHPC has decreased to 5.2%. According to the statement, the insurer sold 20,36,00,120 shares of the company between March 17, 2022, and October 18, 2022, for an average price of 34.42 per share.