Stocks To Watch On October 22: Domestic markets experienced volatility and ended nearly flat, primarily in response to mixed earnings reports. In today’s trade, shares of Zomato, Paytm, Bajaj Finance, Ola Electric, and Eicher Motors among others will be in focus due to various news developments and second-quarter results.
Bajaj Finance, Adani Green, Zomato, Paytm, Adani Energy Solutions, Varun Beverages, ICICI Pru Life
Shares of Bajaj Finance, Adani Green, Zomato, Paytm, Adani Energy Solutions, Varun Beverages, and ICICI Pru Life will be the focus today ahead of the second quarter results.
Hyundai Motor India: Shares of Hyundai Motor India are set to debut on the stock exchanges on Tuesday. The Rs 27,870-crore initial public offering (IPO) was subscribed 2.37 times on its final day. The bids were led by qualified institutional investors (6.97 times), non-institutional investors (0.6 times), retail investors (0.5 times), and employees (1.74 times).
Ola Electric: Ola Electric issued clarifications in response to a show-cause notice from the Central Consumer Protection Authority (CCPA). The company stated that it has resolved 99.1 per cent of the 10,644 complaints received from the CCPA.
Shriram Finance: The Reserve Bank of India has granted approval for Shriram Finance to sell its stake in Shriram Housing to Warburg Pincus affiliate Mango Crest.
Sona BLW Precision Forgings: The company inaugurated a new plant in Haryana dedicated to its driveline business.
Nelco: Intelsat’s IS33E satellite experienced a power outage on October 19, disrupting customer traffic. The satellite operator confirmed on October 20 that the satellite will not be recovered.
Eicher Motors: Royal Enfield has expanded its operations into Bangladesh, launching a flagship showroom in Dhaka. The firm introduced the Hunter 350, Meteor 350, Classic 350, and Bullet 350 to the Bangladeshi market.
MAS Financial Services: The company has entered into a strategic co-lending partnership with UCO Bank to provide lending solutions to micro, small, and medium enterprises (MSMEs).
Arkade Developers: The company launched a new residential and commercial project in Bhandup, Mumbai, with an estimated sales value of Rs 760 crore.
Epack Durable: The company has entered into an agreement with Hisense, a global leader in consumer electronics and home appliances, to manufacture air conditioners and home appliances in India for global distribution.
Lemon Tree: Lemon Tree signed a license agreement for a 72-room hotel in Karnataka.
MosChip Technologies: The company has been recognized as an AI/ML design partner under the Renesas RZ partner ecosystem. The company will now deliver intelligent solutions based on the Renesas RZ/V series of MPUs, further strengthening its position in the AI and machine learning domain.
Bajaj Housing Finance: On a consolidated basis, NII grew by 12.99 per cent to Rs 713 crore from Rs 631 crore Y-o-Y. Revenue from operations increased by 26 per cent to Rs 2,410 crore compared to Rs 1,911 crore last year. Consolidated net profit rose by 21 per cent, reaching Rs 546 crore, up from Rs 451 crore Y-o-Y.
Union Bank: Consolidated NII declined by 0.9 per cent Y-o-Y to Rs 9,047 crore from Rs 9,126 crore. However, the consolidated net profit surged by 34 per cent, reaching Rs 4,720 crore from Rs 3,511 crore Y-o-Y. The gross NPA improved to 4.36 per cent from 4.54 per cent (quarter-on-quarter), while net NPA was at 0.98 per cent versus 0.90 per cent.
HFCL: Consolidated revenue declined by 1.62 per cent Y-o-Y to Rs 1,094 crore from Rs 1,112 crore. However, consolidated Ebitda increased by 19.54 per cent to Rs 159 crore from Rs 133 crore Y-o-Y, with the Ebitda margin improving to 14.53 per cent from 11.96 per cent. Consolidated net profit grew by 4.28 per cent to Rs 73 crore from Rs 70 crore Y-o-Y.
Mahindra Logistics: The company saw a consolidated revenue increase of 11.42 per cent Y-o-Y, reaching Rs 1,521 crore compared to Rs 1,365 crore in the same period last year. Consolidated Ebitda grew by 22.22 per cent to Rs 66 crore from Rs 54 crore. The Ebitda margin improved to 4.33 per cent from 3.95 per cent. Consolidated net loss narrowed to Rs 11 crore, down from Rs 16 crore Y-o-Y.
City Union Bank: On a year-on-year (Y-o-Y) basis, the bank reported a consolidated net profit increase of 1.42 per cent to Rs 285 crore in Q2FY25, compared to Rs 281 crore in the same quarter last year. Consolidated Net Interest Income (NII) rose by 8 per cent to Rs 582 crore from Rs 538 crore. Gross Non-Performing Assets (NPA) improved to 3.54 per cent from 3.88 per cent (quarter-on-quarter), while net NPA reduced to 1.62 per cent from 1.87 per cent.
Cyient DLM: The company posted a consolidated revenue increase of 33.4 per cent Y-o-Y, reaching Rs 389.45 crore, up from Rs 291.84 crore. Consolidated Ebitda grew by 34 per cent to Rs 31.63 crore from Rs 23.54 crore Y-o-Y, maintaining an Ebitda margin of 8.1 per cent. Consolidated net profit rose by 5 per cent, reaching Rs 15.45 crore from Rs 14.65 crore Y-o-Y.
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