Action-packed day for Indian markets tomorrow with Adani Wilmar, ACC, ITC, and Godrej Consumer Products set to release their quarterly results. Also, the HUL stock is likely to be in focus on the back of its quarterly earnings plus the decision to separate the ice cream business. Both the IPOs, Deepak Builders & Engineers and Waaree Energies, to finalise their allotment on October 24.

Meanwhile, Indian markets ended Wednesday’s trading session on a lower note. The Nifty 50 closed the session 0.15% lower at 24,435. The Sensex ended the session 139 points or 0.17% lower at 80,082. However, the Nifty Midcap 100 outperformed, closing the session 360 points or 0.64% higher at 56,534. 

“Investor mindset turned gloomy with the tepid earnings and a knee-jerk reaction from FIIs, which dragged the market sentiment. However, mid and small-caps are experiencing bargain hunting following the recent decline, though the sustainability of this momentum-driven buying remains uncertain. The US 10-year yield inched higher, signalling a slower tempo of rate cuts by the FED, which is poised for a risk-off sentiment towards EMs,” said Vinod Nair, Head of Research at Geojit Financial Services.

Stocks to watch for October 24

Hindustan Unilever 

Hindustan Unilever (HUL) reported a 2.4% fall in consolidated net profit standing at Rs 2,591 crore in Q2 FY25, while its underlying volume growth was 3%. The FMCG major’s revenue rose by 1.9% year-on-year to Rs 15,926 crore. Also, the company’s board of directors decided to separate the ice cream business. 

BEML 

BEML has outlined a capital expenditure of Rs 900 crore till FY25 and re-entered the construction equipment market after a hiatus of nearly five years, aiming to capitalise on the Rs 45,000 crore market opportunity.

State Bank of India 

State Bank of India (SBI) raised Rs 5,000 crore through the issuance of Additional Tier-I (AT-I) bonds at a coupon rate of 7.98% to bolster its capital base, marking the lender’s first such issuance in the current financial year.

GMR Airports Infrastructure

GMR Group has entered into an agreement with a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) for an investment of Rs 6,300 crore in the form of structured debt instruments. The Group said it would use the proceeds to refinance all external debt of GMR Enterprise, the promoter of GMR Airports Infrastructure.

Dalmia Bharat

Dalmia Cement is set to establish a cement plant in Madhya Pradesh at a cost of Rs 3,000 crore. Punit Dalmia, Group Managing Director said that the 4-million-tonne-capacity plant will be the first in the country to operate entirely on renewable energy. 

Earnings Tomorrow

Adani Total Gas, ACC, Adani Wilmar, Aarti Drugs, NTPC, United Breweries, ITC, JSW Energy, IndusInd Bank, Tata Teleservices (Maharashtra), Strides Pharma Science, Westlife Foodworld, Godrej Consumer Products, Dixon Technologies, GMR Airports Infrastructure, Petronet LNG, Nippon Life India Asset Management, Radico Khaitan, PNB Housing Finance, R R Kabel, Transport Corporation of India, Ujjivan Small Finance Bank, VST Industries, V2 Retail, Suryoday Small Finance Bank, Tourism Finance Corp of India, Timex Group India, V R Infraspace, Tilak Ventures, Veeram Securities, Vivanta Industries, Zenith Healthcare, Triveni Glass, Veerkrupa Jewellers, Yunik Managing Advisors, Oracle Financial Services Software, Patanjali Foods, Ramkrishna Forgings, Privi Speciality Chemicals, Shilchar Technologies, Moschip Technologies, PNB Gilts, Sanghi Industries, Rane Madras, Nacl Industries, Music Broadcast, Nureca, Parshva Enterprises, Pecos Hotels and Pubs, Laurus Labs, Mahanagar Gas, LT Foods, LE Travenues Technology (IXIGO), Indoco Remedies, Kody Technolab, Max India Limited, Manba Finance, Menon Bearings, Madhav Infra Projects, Jhaveri Credits and Capital, Money Masters Leasing and Finance, Krishna Ventures, Le Lavoir, Kenvi Jewels, Martin Burn, Go Digit General Insurance, Finolex Industries, Indian Energy Exchange, Glenmark Life Sciences, Home First Finance Company India, Grauer and Weil (India), EFC (I), Diffusion Engineers, Forbes Precision Tools and Machine Parts, Effwa Infra & Research, Diamines and Chemicals, Digicontent, Galaxy Cloud Kitchens, Gujarat Intrux, Gravity India, Colgate Palmolive (India), Coromandel International, Bikaji Foods International, Castrol India, Cyient, Chalet Hotels, DCB Bank, Capital Small Finance Bank, Balkrishna Paper Mills, and Agro Tech Foods will be releasing their quarterly results on October 24.