Stocks to Watch on Friday, October 27: Despite overnight selling in the US, Asia-Pacific markets attempted a rebound on Friday, with Australia stocks bouncing from one-year lows.
Hong Kong’s Hang Seng index opened 0.86 per cent higher, while Japan’s Nikkei 225 rose 1 per cent.
South Korea’s Kospi gained 0.65 per cent, and Australia’s S&P/ASX 200 advanced 0.34 per cent.
At 7.50 AM, the Gift Nifty index was at 18,986, up 13 points.
Overnight, Nasdaq Composite index lost 1.76 per cent on Wall Street, closing below its 200-day moving average and ending at 12,595.61. The S&P 500 dipped 1.18 per cent, while the Dow Jones Industrial Average slipped 0.76 per cent.
Here’s a list of stocks to watch out today:
Vodafone Idea: Vi, on Thursday, reported a 15.2 per cent higher consolidated net loss of Rs 8,746 crore in the July-September quarter of the financial year (FY24) on a year-on-year (YoY) basis as a result of increasing expenses. Average revenue per user (ARPU) for the quarter rose to Rs 142 on a sequential basis, up from Rs 139 in the preceding quarter.
Punjab National Bank: The public-sector lender’s net profit for Q2FY24 jumped 327.14 per cent YoY to Rs 1,756 crore owing to a substantial rise in its net interest income (NII) and decline in credit costs. Its NIM expanded to 3.11 per cent from 3.08 per cent QoQ and 3 per cent YoY.
Indian Bank: Indian Bank reported a 61 per cent rise in net profit during the second quarter of the financial year FY24 to Rs 2,068.49 crore, compared to Rs 1,287.39 crore during the same period last financial year. The improved net profit is mainly due to a 23 per cent increase in net interest income (NII) for the quarter.
Adani Enterprises: Billionaire Gautam Adani’s Adani Group is seeking to raise as much as $4 billion to help develop manufacturing plants that would produce low-cost green hydrogen, according to a Bloomberg report. Adani New Industries Ltd., a wholly owned subsidiary of flagship company Adani Enterprises Ltd., will take the lead in raising the money.
Colgate Palmolive: Colgate-Palmolive (India) reported a 22 per cent rise in the second-quarter profit to Rs 340 crore on Thursday, aided by rising urban demand for high-priced toothpastes and signs of growth in rural consumption.
It declared its first interim dividend of Rs 22 per share for the fiscal year 2023-2024.
Dixon Technologies: It reported a consolidated net profit of Rs 113.36 crore for Q2FY24, up 46.99 per cent YoY. Its revenue, meanwhile, grew 27.8 per cent YoY to Rs 4,943.18 crore. Ebitda margin increased to 4 per cent from 3.8 per cent in Q2FY23.
State Bank of India: SBI is likely to raise up to Rs 10,000 crore ($1.20 billion) through Basel III-compliant tier-II bonds maturing in 15 years, Reuters reported on Thursday.
Lemon Tree Hotels: It has signed a License Agreement for a 50-room property in Visakhapatnam, Andhra Pradesh. The hotel is expected to be operational by FY26.
Jaiprakash Power Ventures: The company has to pay arrears worth Rs 240 crore for Coal Mine Development and Production Agreement, executed in 2015, after the Ministry of Coal revised the pricing formulae.
Oberoi Realty: The company has divested its entire 31.67 per cent shareholding in Sangam City Township Joint Venture for Rs 3.6 crore.