Nifty futures on the Singapore Exchange traded 157.5 points, or 0.87 per cent lower at 18,005, signaling that Dalal Street was headed for a negative start on Thursday.
Q2 Results Today
HDFC, Hero MotoCorp, Hindustan Petroleum Corporation, Vodafone Idea, Adani Enterprises, Ajanta Pharma, Amara Raja Batteries, Adani Total Gas, Adani Wilmar, Bank of India, Blue Star, Coromandel International, Devyani International, Indian Bank, JK Lakshmi Cement, Raymond, SRF, and Welspun Corp will report their Q1FY23 earnings on 3 November.
Stocks to Watch
JSW Group: JSW Group plans to invest Rs 1 lakh crore in Karnataka over the next five years across all its businesses, including steel, green energy, cement, paints and a new greenfield port, chairman Sajjan Jindal said. The proposed investment would be in addition to the Rs 1 lakh crore already invested in the state.
Wipro: The IT major on Wednesday said it has launched a new financial service advisory capability in India. Capco, a Wipro company, will supplement Wipro’s presence in the Indian financial services sector through its business in Mumbai to jointly offer end-to-end transformation services for this sector. Wipro acquired London-headquartered Capco for $1.45 billion in March last year, the largest acquisition in Wipro’s history.
Punjab National Bank: State-run PNB has revised up its credit growth forecast for the current fiscal to 12-13% from 10% projected earlier, given the impressive growth in recent months amid heightened economic activity, its managing director and chief executive Atul Kumar Goel said on Wednesday. The bank has sought permission to open a special rupee vostro account of the correspondent banks of a partner trading country to facilitate cross-border trade settlement in rupees.
Spandana Sphoorty Financial: The company said its Management Committee of the Board of Directors has approved the issuance of non-convertible debentures up to Rs 50 crore in two series on a private placement basis.
JK Paper: The paper manufacturer recorded its highest0ever quarterly consolidated turnover of Rs 1,722.63 crore, a 72% growth compared to September FY22 quarter. EBITDA for the quarter at Rs 587.13 crore increased 130% and profit at Rs 324.23 crore rose 174% after providing Rs 33.64 crore as exceptional item for the quarter ended September FY23 compared to corresponding quarter of previous financial year.
Rail Vikas Nigam: Life Insurance Corporation of India (LIC) has offloaded 2.02% equity stake in the company via open market transactions. With this, LIC’s shareholding in the company reduced to 6.7%, down from 8.72% earlier.
Mahindra & Mahindra Financial Services: The NBFC player reported over 55 per cent decline in its net profit at Rs 492 crore in the quarter ended September 2022. In the year ago same quarter ended September 2021, it had posted a net profit of Rs 1,103 crore.
Lupin: The US health regulator has pulled up drug maker for manufacturing lapses, including failure to establish adequate written procedures for cleaning equipment, at its Maharashtra-based plant. In a warning letter, the USFDA has pointed out various lapses at the Tarapur (Thane) plant which produces active pharmaceutical ingredients (API).
JK Cement: Its subsidiary Jaykaycem (Central) has successfully commenced cement grinding capacity of 2 million tonne per annum its newly set up cement manufacturing facilities at Panna, Madhya Pradesh. The clinkerisation is at advanced stage and would to be commissioned shortly.
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