Nifty futures on the Singapore Exchange traded 38.5 points, or 0.21 per cent higher at 18,474.5, signaling that Dalal Street was headed for a positive start on Monday.
Q2 Earnings
Apollo Tyres, Bharat Forge, Grasim, Indiabulls Housing Finance, IRCTC, MMTC, MTNL, SpiceJet and Strides Pharma to be in focus owing to the September quarter results.
Stocks To Watch
Hinduja Group: Shares of Hinduja group – Ashok Leyland, IndusInd Bank, Nxtdigital, Hinduja Global Solutions, Gulf Oil Lubricants and GOCL Corporation are likely to be in focus after the billionaire brothers called a truce on a power struggle that threatened the future of the business empire of the UK’s wealthiest family.
Ashok Leyland: Hinduja Group’s electric vehicle arm Switch Mobility is in talks with financial investors to raise $200-250 million and is open to diluting up to 15 per cent stake in Switch Mobility, Dheeraj Hinduja, executive chairman said.
Meanwhile, Ashok Leyland posted a net profit of Rs 199 crore during the second quarter of the financial year 2022-23, compared to a loss of Rs 83 crore during the same period last year.
SBI: After securing a Euro 150 million Credit line for solar energy finance from a German financial institution, State Bank of India is in talks with European Investment Bank for about Euro 200 million to fund climate finance.
KRBL: The company is looking to expand the domestic and export footprint of its premium regional non-basmati varieties of Kolam, Sona Masuri and Gobindobhog under the India Gate label.
Mahindra & Mahindra (M&M): The auto major reported better-than-expected performance for the quarter ended September 30. Robust sales of its SUVs and a good showing by the farm equipment vertical bumped up its standalone net profit (after exceptional items) by 46 per cent YoY.
LIC of India: State-owned Life Insurance Corporation (LIC) reported a multifold increase in net profit during July–September (Q2) of FY23. Net profit in Q2 stood at Rs 15,952.49 crore, up 11 times from Rs 1,433.71 crore in the year-ago period. This was due to a change in its accounting policy, wherein it has transferred Rs 14,271.80 crore to the shareholders’ account from the non-participatory account.
Hindalco: Aditya Birla Group’s flagship company reported a 35.5 per cent YoY decline in consolidated net profit for Q2FY23 to Rs 2,205 crore, due to elevated energy costs and a fall in aluminium prices. The profit for the quarter was below Street estimates of Rs 2,384 crore for the period even as revenue was ahead of estimates.
NDTV: The company and its subsidiary NDTV Networks put on hold the proposed sale of its 20 per cent stake in Astro Awani Network, a media company based in Malaysia. NDTV entered into a joint venture with Astro in 2005 for the launch of a 24-hour news channel in Malaysia and Indonesia each. The channels were subsequently launched in 2006.
Fortis Healthcare: The company posted 9.9 per cent growth in revenue to Rs 1,607 crore and a 27.9 per cent rise in profit after tax to Rs 166 crore in the second quarter of the fiscal year. Reported profit showed a higher growth of 67 per cent to Rs 218 crore. Q2FY23 and H1FY23, owing to an exceptional gain of Rs 51.6 crore, which pertains to reversal of impairment in an associate Company.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Read all the Latest Business News here
For all the latest business News Click Here
