GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 16.50 points or 0.07% at 24,133 indicating a muted start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed the session 51 points or 0.21% lower at 24,148, while the BSE Sensex fell 55 points or 0.07% to close at 79,486.
Stocks to watch on November 11, 2024
Tata Motors
The automaker’s net profit fell 11.2% from last year to Rs 3,343 crore due to muted domestic demand and production constraints at JLR. Its revenue decreased 3.8% to Rs 1.01 lakh crore. While the EBITDA came down 12% to Rs 12,159 crore. JLR profitability was impacted by a temporary aluminium supply constraint and a hold placed on 6,029 vehicles for additional QC checks.
Asian Paints
Asian Paints’ net profit fell significantly by 42.4% to Rs 694.64 crore in the second quarter of financial year 2025 (FY25) against the same quarter of the previous year. The volume of paint makers’ decorative paints business (India) declined by 0.5%. Asian Paints’ net sales stood at Rs 8,003.02 crore, down 5.3% due to weak demand conditions which the company attributed to persistent rains through the quarter and floods in some parts of the country.
OLA Electric
Ola Electric’s net loss narrowed to Rs 495 crore in the second quarter of FY25, helped by a jump in sales and lower raw material costs. The company reported a net loss of Rs 524 crore a year earlier. OLA Electric reported a consolidated revenue of Rs 1,214 crore, up 39% year-on-year from Rs 873 crore in the year-ago period.
Wipro
Premji Invest, the private equity firm of Billionaire Azim Premji, bought a 1.6% stake in Wipro for Rs 4,757 crore through an open market transaction. Premji Invest, through its arm Prazim Trading and Investment Company, acquired the shares of Wipro through a block deal on the National Stock Exchange (NSE) on November 8.
Life Insurance Corp
Life Insurance Corporation reported a 4% decline in its standalone net profit, which came at Rs 7,621 crore for the quarter ended September 2024. In the year-ago quarter, the net profit stood at Rs 7,925 crore. The net premium income during the reporting quarter rose by 11% year-on-year to Rs 1.19 lakh crore, compared with Rs 1.07 lakh crore in the same quarter of the previous fiscal.
Divi’s Laboratories
Divi’s Laboratories reported a net profit of Rs 510 crore in Q2 FY25, up 46.5% on year from Rs 348 crore in the same quarter last year. The company’s Q2 revenue came in at Rs 2,338 crore, a growth of 22.5% on year, compared to Rs 1,909 crore in the same quarter of the previous fiscal year.
Aarti Industries
Aarti Industries posted a net profit decline of 43% year-on-year to Rs 52 crore in Q2 FY25, compared to Rs 91 crore in Q2 FY24. The company’s net profit fell due to higher expenses and operational challenges impacted performance. Its revenue grew 12% on year, reaching Rs 1,628 crore compared to Rs 1,454 crore in the previous year, reflecting the company’s push to expand its market reach and diversify product offerings.
Hindustan Aeronautics
Hindustan Aeronautics has won a contract from Avionics Upgrade of Dornier-228 Transport Aircraft, for enhancing IAF’s operational capability.