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The Sensex and Nifty indices are heading for a weak start on Thursday after the US Fed delivered a 75 bps rate hike overnight and maintained its hawkish tone.
Markets in the US fell up to 3 per cent on Wednesday. Asian indices were also in red this morning led by losses in Hang Senf, which slipped over 2 per cent.
At 07:30 am, the SGX Nifty futures quoted at 18,010, indicating an opening loss of over 100 points on the Nifty index.
That said, here are some stocks to watch out in trade today:
Q2 earnings watch: HDFC, Hero MotoCorp, Hindustan Petroleum Corporation, Vodafone Idea, Adani Enterprises, Ajanta Pharma, Amara Raja Batteries, Adani Total Gas, Adani Wilmar, Devyani International, SRF, and Welspun Corp will release their Q2 results today.
Adani Transmission: The board granted in-principle approval for issuance of non-convertible debentures worth up to Rs 1,500 crore. The company on Wednesday reported a 32 per cent dip in its consolidated net profit at Rs 194 crore in September quarter compared to year ago, mainly due to adverse forex movement adjustment. Read here
Dalmia Bharat: Cement maker Dalmia Bharat Ltd on Wednesday reported a 76.84 per cent decline in consolidated net profit at Rs 47 crore for the quarter ended September. Its revenue from operations increased 15.11 per cent to Rs 2,971 crore in the quarter. Read more
JK Paper: The company has reported more than two-fold increase in consolidated net profit at Rs 326.93 crore in the second quarter of FY23, helped by higher sales volume and enhanced sales realisation. Read here
JSW Steel: Sajjan Jindal-led JSW Steel is eyeing a capacity of 50 million tonne (mt) by 2030 mirroring the country’s growth. It will be adding about 10 mt capacity by FY25. To further its growth plans, JSW may also look at acquisitions. Read more
Wipro: The company has launched a new financial services consulting capability in India named Capco.
Piramal Enterprises: The company’s board will meet on Nov 7 to consider issuance of NCDs.
JK Cement: Subsidiary Jaykaycem (Central) has successfully commenced cement grinding capacity of 2 million tonne per annum at its newly set up cement manufacturing facilities at Panna, Madhya Pradesh.
MTAR Technologies: The defence company posted a 30 per cent year-on-year increase in consolidated profit at Rs 24.7 crore in Q2FY23. Revenue was 38.2 per cent up to Rs 126.2 crore vs a year-ago.
Nelcast: The company has reported a 262 per cent year-on-year increase in consolidated profit at Rs 12.15 crore for Q2FY23 while its revenue rose 37.4 YoY to Rs 328.52 crore.
SIS: The company has reported a 1.4 per cent year-on-year decline in consolidated profit at Rs 67.4 crore for Q2FY23. Revenue for the quarter rose 14 percent YoY to Rs 2,768 crore.
Jindal Stainless: The company has reported a 63 per cent YoY decline in consolidated profit at Rs 151.84 crore for Q2FY23. Revenue grew 11.5 percent YoY to Rs 5,604 crore for the quarter.
Rail Vikas Nigam: Life Insurance Corporation of India has offloaded a 2.02 per cent equity stake in the company via open market transactions. With this, LIC’s shareholding in the company has been reduced to 6.7 per cent from 8.72 per cent earlier.
Triveni Turbine: Board approved buyback of shares via a tender offer. The company will spend up to Rs 190 cr on the share buyback at Rs 350 a share.
Manali Petrochemicals: The company has approved an additional investment up to $35 million in its wholly owned subsidiary AMCHEM Speciality Chemicals Private Limited, Singapore for potential overseas acquisitions.
Spandana Sphoorty Financial: Its board has approved the issuance of NCDs of up to Rs 50 crore on a private placement basis.
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