IRCTC, Lupin, GE Shipping and CAMS: Stocks to watch out for on Wednesday
After market hours, the railway’s e-ticketing and catering arm reported good results with net profit soaring 30 per cent year-on-year.
At around 8:12 a.m. on Wednesday, November 8, the GIFT Nifty futures traded 0.14 per cent or 26.5 points higher at 19,522, suggesting a positive start to trading on Dalal Street.
Tracking lacklustre trade in Asian markets, Indian equities ended in the red in Tuesday’s session, snapping a 3-day winning run. Both Sensex and Nifty fell marginally and settled at 64,942.4 and 19,406.7, respectively. Nifty Bank, however, ended on a positive note.
ZeeBiz will take you to the list of stocks that will be on focus on Wednesday (November 8).
Results on Wednesday, November 8: Automotive Axle, Ashoka Buildcon, Balaji Amines, Brigade Enterprises, CAMS, Career Point, EID Parry, Easy Trip, Eris Lifesciences, Vishnu Chemical, and Lupin, among others, will announce their results for the second quarter (Q2FY24) on Wednesday.
IRCTC: After market hours, the railway’s e-ticketing and catering arm reported good results with net profit soaring 30 per cent year-on-year.
JB Chemicals and Pharmaceuticals: The company’s consolidated net profit increased to Rs 150 crore in the September quarter versus Rs 110 crore in the same quarter last year.
Stove Kraft: The household appliances company for the period ending September posted a decline in PAT to Rs 17 crore as against Rs 26 crore YoY.
Schneider Electric: The heavy electrical equipment company's PAT for the September quarter rose to Rs 43 crore from Rs 9 crore YoY.
Balrampur Chini Mills: In the quarter ending September, the sugar company turned profitable and posted PAT at Rs 166 crore versus Rs 29 crore loss YoY.
Power Grid Corporation of India: The utility company posted good set of numbers for the September quarter. Margins at the company expanded to 88 per cent during the reporting quarter.
Deepak Nitrite: The specialty chemicals reported good performance during the September quarter. Profit at the firm during the reporting quarter increased 18 per cent YoY.
Shree Cement: Replicating others in the industry, the company posted a good set of numbers in the September quarter. Profits at the company have grown nearly 3-fold during the quarter.
Apollo Tyres: The tyre company reported good operational performance, with EBITDA and margins coming in better than estimates. Margins at the company grew to 18.5 per cent versus 12 per cent in the year-ago period.
Hindalco: The metals company has achieved EBITDA guidance earlier than guided. EBITDA/ton guidance was $500 by March 2024
In Q2FY24, it reached $519.
Cummins: The compressor and pump company reported good operational performance during the September quarter. During the period, the company's profit surged 30.2 per cent YoY.
Prestige Estates: For the September quarter, the company posted highest-ever quarterly sales. Profit at the company increased 6 fold on 57 per cent YoY increase in revenue during the period.
Gujarat State Fertilisers Chemicals (GSFC): The company for the September quarter posted mixed set of numbers. The company has delivered the highes-ever Q2 revenue at Rs 3119 Cr (Up 25%) owing to record-breaking fertilizer turnover. Nevertheless, margins at the company dwindled to just 7.6 per cent as against 15.7 per cent in the year-ago period.
Corporate actions: Bigbloc Construction, Birlasoft, Oberoi Realty, Supreme Petrochem, RITES, and GE Shipping will trade ex-dividend on Wednesday. DP Wires, on the other hand, will go ex-bonus in the ratio of 1:7.
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