Stocks to watch today: A gap up open is likely for the Indian equity markets on Friday amid strong global cues and weaker dollar. At 7:30 am, the SGX Nifty quoted at 18,398 levels, 370 points higher.
Globally, the US markets skyrocketed overnight as investors cheered cooler inflation report. The core consumer price index (CPI) slowed to 7.7 per cent in October, which came below street estimates, and hit the lowest level since January.
This, therefore, sparked sharp rally in Wall Street as Dow Jones, NASDAQ Composite, and the S&P 500 indices surged up to 7 per cent, posting biggest one-day rallies since 2020.
Asia-Pacific markets, too, inched up as Nikkei 225, Kospi, Shanghai Composite, and Hang Seng indices climbed up to 5 per cent.
Meanwhile, back home, here’s a list of stocks that may see action in Friday’s trade:
DCX Systems: The company will debut on bourses on Friday, November 11. Analysts expect the stock to list at 35-40 per cent premium over the issue price of Rs 207 per share.
Q2 results: LIC, M&M, Adani Power, Hindalco Industries, HAL, ABB India, Info Edge India, Zydus Lifesciences, Astral, Alkem Laboratories, Vedant Fashions, Thermax, Delhivery, among many others will report the July-September (Q2FY23) quarter results on Friday, November 11.
Eicher Motors: The automaker recorded 76 per cent year-on-year (YoY) growth in profit to Rs 657 crore for Q2FY23, backed by strong operating and top line performance. Revenue from operations, too, surged 56.4 per cent YoY to Rs 3,519 crore and EBITDA was up 75 per cent YoY to Rs 821.4 crore in Q2FY23. READ MORE
Zomato: The food delivery giant’s net loss narrowed to Rs 251 crore in Q2FY23 from loss of Rs 430 crore in Q2FY22, buoyed by strong top line and operating performance. Revenue from operations climbed 62 per cent YoY to Rs 1,661 in Q2FY23, whereas EBITDA loss narrowed to Rs 311 crore in Q2FY23 from loss of Rs 536 crore, in the year-ago period. READ MORE
Adani Green Energy: The company registered 49 percent YoY increase in consolidated profit to Rs 149 crore for Q2FY23, led by lower cost of materials sold and finance cost. Revenue from operations, too, increased 19.5 percent YoY to Rs 1,686 crore. Margins, however, dropped 550 basis points (bps) YoY to 57.3 percent in Q2. READ MORE
Bata India: The footwear company reported 37.7 per cent YoY rise in standalone profit to Rs 51.1 crore in Q2FY23, on strong operating performance and top line. Revenue during the quarter also increased 35 per cent YoY to Rs 830 crore, whereas EBITDA rose 35.1 per cent YoY to Rs 160.9 crore in the recently concluded quarter. READ MORE
Alkem Laboratories: The pharma company received Form 483 with 3 observations from the USFDA for its manufacturing unit in St. Louis, USA. Earlier, the US health regulator had conducted a pre-approval inspection at the company’s manufacturing facility during October 31 to November 9. READ MORE
Apollo Hospitals: The healthcare services provider reported 20 per cent YoY decline in profit to Rs 212.8 crore in Q2FY23, due to weak operating performance and higher purchases of stock-in-trade. Revenue from operations, meanwhile, grew 14.4 per cent YoY to Rs 4,251 crore in Q2FY23.
Adani Power: The company inked pact to sell 100 percent equity stake in subsidiary, Support Properties (SPPL) to AdaniConnex. The transaction value is Rs 1,556.5 crore. ACX is a 50:50 joint venture between promoter group company – Adani Enterprises and EdgeConneX.
Jindal Steel & Power: The company recorded 92.3 per cent YoY decline in consolidated profit at Rs 200 crore for Q2FY23, impacted by dismal operating performance and fall in top line. Revenue from operations, too, fell 0.7 percent YoY to Rs 13,521.4 crore in Q2FY23.
Indian Hotels: The company recorded consolidated profit at Rs 121.6 crore for Q2FY23, against loss of Rs 120.6 crore, in the year-ago period. EBITDA, meanwhile, increased 304 per cent YoY to Rs 294 crore in Q2FY23, whereas margins expanded 1,390 bps to 23.9 percent in the recently concluded quarter.
Deepak Fertilisers: The company’s net profit jumped nearly three-fold to Rs 276 crore in Q2FY23 from Rs 93 crore in Q2FY22. Operating revenue of the company, too, surged 51.7 per cent YoY to Rs 2,719 crore in Q2FY23 from Rs 1,793 crore, in the year-ago period.
Stocks in F&O ban: Punjab National Bank (PNB) was the only stock banned in the F&O ban period on Friday, November 11.
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