Hero MotoCorp, Bharti Airtel, Nestle, RITES: Stocks to watch out for on Wednesday

Stocks to watch: At around 7:43 a.m. on Wednesday, November 1, the GIFT Nifty futures traded 9.5 points, or 0.05 per cent, lower at 19,130.5, suggesting a flat-to-negative start to trading on Dalal Street.

Indian equity markets, amid persistent selling by foreign institutional investors (FIIs), ended October on a weaker note. Nifty on Tuesday (October 31) ended 61.30 points lower at 19,079.6, logging a 2.8 per cent fall during the month. Broader markets also underperformed, with the Nifty Midcap 100 index cracking over 4 per cent during the same period.

Zee Business will take you to the list of stocks that will be in focus on Wednesday:

Corporate results today (November 1): Hero MotoCorp, JK Tyre, Gujarat Ambuja Exports, Britannia, Cera Sanitaryware, Adani Wilmar, Ambuja Cements, Jubilant Ingrevia, Savita Oil Tech, Greenpanel Industries, Godrej Consumer Products, and Sun Pharma, among others, will release their quarterly results today.

Bharti Airtel: Shares of the telecom player will be tracked after the company missed Zee Business Research estimates and reported a 16.86 per cent fall in its sequential consolidated profit after tax (PAT) in the September quarter results.

PNC Infratech: Shares of the infra company will be in focus after consolidated profit for the September quarter came in at Rs 150 crore versus Rs 132 crore in the year-ago period.

RITES: Shares of the civil construction entity will be on the radar after it posted its Q2 earnings on Tuesday. For the September quarter, the company reported a consolidated net profit of Rs 110 crore versus Rs 140 crore year-on-year.

VIP Industries: Shares of the luggage manufacturer will gain focus after its September quarter results. Net profit at the company sharply declined to Rs 13.3 crore as against Rs 43.4 crore reported in the same quarter last year.

Auto stocks: A host of auto majors, including the likes of Eicher Motors, Tata Motors, Maruti Suzuki, Hero MotoCorp, and Bajaj Auto, among others, will begin to announce their monthly sales data for October. Amid the festive season, analysts expect strong sales figures.

Larsen and Toubro: Shares of the civil construction company will be on the radar today after the company announced its September results on Tuesday. Consolidated net profit at the infra major increased 45 per cent YoY. Also, the company logged the highest-ever order book during the review period.

Tata Consumer Products: Shares of the FMCG company will gain traction after it reported slightly better results for the quarter ended September. Profit at the firm grew 3 per cent year-on-year, while margins expanded to 14.4 per cent as compared to 12.9 per cent logged in the same quarter last year.

Birlasoft: Shares of the software and consulting firm will be tracked after the company posted outstanding results on all parameters. Revenue at the company inched 3.7 per cent higher YoY, while margin also expanded to 14.2 per cent during the quarter ended September. Global brokerage Nomura has maintained its ‘buy’ rating on the counter with a higher target price of Rs 630.

Max Financial Services: The stock of the company will be in focus after the company posted inline to slightly positive earnings for the July–September period. The company reported strong growth but lower VNB margins.

Navin Fluorine: Shares of the speciality company will be watched out for after it reported weak performance during the September quarter. The margin at the firm shrank to 20.9 per cent during the review period, as against 12.6 per cent during the same period last year.

Jindal Steel and Power: Shares of the iron and steel company will gain focus after it reported Q2 results slightly below estimates. Profit at the company came in at Rs 1390 crore during the Q2 period. Global brokerage City has downgraded the stock to a ‘Sell’ from the earlier ‘Buy’ rating and also slashed the target price considerably to Rs 560 from Rs 810.

Oil and gas stocks: Oil and gas stocks will be tracked after the government increased the windfall tax on petroleum crude to Rs 9,800 per ton from November 1. The windfall tax on ATF or aviation turbine fuel has been slashed to nil from the earlier Rs 1 per litre, while for diesel it is reduced to Rs 2 per litre from Rs 4 per litre.

CE Info Systems: Shares of the company will be in focus after it announced excellent September quarter results. The company posted an all-time high revenue during the quarter, with revenue increasing 19 per cent YoY. Margin also expanded to 44.93 per cent during the quarter.

Five Star Business Finance: Shares of the NBFC company will be tracked after it announced a good set of numbers for the September quarter. The company’s asset quality improved, while its net interest margin remained stable during the review period.

Lupin: Shares of the pharma major will be tracked after it said that it has received an establishment inspection report (EIR) from the USFDA for its Mandideep Unit-2 manufacturing facility.

Corporate actions: 

Cyient: Shares of the IT services firm will trade ex-dividend in respect of the 240 per cent interim dividend.

Nestle India: Shares of the leading FMCG player will also trade ex-dividend in respect of its 1400 per cent dividend, amounting to Rs 140 per share.

Mittal Life Style: Shares of the company will turn ex-split and see a change in face value from the earlier Rs 10 to Rs 1.