Stock in News Today, November 4: Titan, Indigo, Vodafone Idea, HDFC, UCO Bank, HPCL

Stock in News Today, November 4: Indian benchmark indices are likely to open flat on Friday as SGX Nifty - which is traded on the Singapore stock exchange - traded 10 points, or 0.05 per cent, higher at 18,123.5. Other Asian markets traded in red in early trade. While Japan’s Nikkei 225 fell 2 per cent, South Korea’s Kospi declined fractionally. 

Meanwhile, US stocks closed lower for a fourth consecutive session on Thursday as economic data did little to alter expectations the Federal Reserve would continue raising interest rates for longer than previously thought. The S&P 500 lost 39.80 points, or 1.06 per cent, to end at 3,719.89 points, while the Nasdaq Composite lost 181.857 points, or 1.73 per cent, to 10,342.940. The Dow Jones Industrial Average fell 146.51 points, or 0.46 per cent, to 32001.25.

Earlier on Thursday, market benchmarks stayed on the backfoot for the second session on the trot, in tandem with a lacklustre trend overseas after the US Fed delivered the fourth straight 75-bps interest rate hike to tame scorching inflation. The 30-share BSE Sensex declined 69.68 points or 0.11 per cent to settle at 60,836.41. During the day, it tanked 420.95 points or 0.69 per cent to 60,485.14. Similarly, the broader NSE Nifty dipped 30.15 points or 0.17 per cent to end at 18,052.70.

Stock in News Today, November 4

Vodafone Idea: Debt-ridden telecom operator Vodafone Idea has reported widening of consolidated loss to Rs 7,595.5 crore in the second quarter that ended September. The company had posted a loss of Rs 7,132.3 crore in the same period a year ago. The service revenue of Vodafone Idea Ltd (VIL), however, increased 12.8 per cent to Rs 10,614.6 crore in the second quarter of the current fiscal. In the year-ago period, the same stood at Rs 9,406.4 crore.

Indian Bank: Indian Bank has reported 13 per cent rise in net profit at Rs 1,225 crore for September quarter 2022-23 as provisions for bad loans fell. The bank had posted a net profit of Rs 1,089 crore for the year-ago period. Total income in the quarter increased to Rs 12,538 crore from Rs 11,440.42 crore in the same period a year ago, Indian Bank said in a regulatory filing.

Titan: Titan Company Ltd is all set to announce its second quarter results today. There are speculations that the jewellery and watchmaker can report year-on-year growth of 11 per cent in its standalone profit after tax. 

Britannia: FMCG major Britannia Industries will announce its second quarter results and its consolidated net profit is expected to grow 17 percent on the back of a 14.6 percent rise in revenue over the last year.

Hero MotoCorp: Hero MotoCorp on Thursday reported a 9 per cent decline in its consolidated net profit to Rs 682 crore for the second quarter that ended September 30, mainly due to enhanced expenses and a slight dip in sales during the period. The country's largest two-wheeler maker had reported a net profit of Rs 748 crore in the July-September period of the previous fiscal.

HDFC: Home finance company Housing Development Finance Corporation Ltd (HDFC) closed the Q2FY23 with a higher net profit of Rs 4,454.24 crore. In a regulatory filing, HDFC said it had logged an operational revenue of Rs 15,027.21 crore (Rs 12,215.95 crore Q2FY22) and a net profit of Rs 4,454.24 crore (Rs 3,780.50 crore) for the period ended September 30.

Interglobe Aviation Ltd: Indigo or Interglobe Aviation Ltd will annouce its second quarter results today. The scrip had dipped 0.17 per cent to close at 1,802.45 on Thursday.