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Business News/ Markets / Stock Markets/  Stocks to Watch: Canara Bank, Shriram Fin, Colgate Palmolive, Indus Towers, Adani Enterprises

Stocks to Watch: Canara Bank, Shriram Fin, Colgate Palmolive, Indus Towers, Adani Enterprises

RIL, Bajaj Finserv, Maruti Suzuki, IHCL, Cipla, Union Bank, MGL, Dr Reddy's, BPCL, City Union Bank, SBI Life Insurance, SBI Cards will be among the stocks to watch on Friday as they will be declaring their quarterly earnings report

Stocks to Watch For FridayPremium
Stocks to Watch For Friday

Here are the top stocks that could be in focus in today's trade:

Canara Bank: Canara Bank reported a growth of 43 per cent in net profit to 3,606 crore, compared to 2,525 crore in the corresponding period last year. The public sector lender's net interest income (NIIs) – the difference between interest earned and interest expended- in the second quarter of the current fiscal rose 19.8 per cent to 8,903 crore, compared to 7,433.8 crore in the year-ago period.

Shriram Finance: The NBFC on Thursday reported a 19.7% yoy increase in AUM to 2.03 trillion. Among loan segments, farm equipment grew the slowest at 5.6%. The fastest growth was seen in personal loans (73.3%), albeit on a smaller base than most other segments. Shriram Finance slowed down its lending for farm equipment in the September quarter on the back of uncertain rainfall, but the company expects rural demand to strengthen, executive vice-chairman Umesh Revankar said.

Colgate Palmolive: FMCG major Colgate-Palmolive India Ltd on Thursday reported a 22.31% increase in net profit at 340.05 crore for the second quarter ended on September 30, driven by pricing and efficiencies. The company had posted a net profit of 278.02 crore in the July-September quarter a year ago, Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing. Its sales were up 6.09% during the quarter under review.

Indus Towers: Indus Towers, the world’s largest telecom tower provider, is in discussions with Vodafone Idea to create a ‘time-bound’ plan for the repayment of the telco's dues, even as it has received some pending dues from Vi during the quarter. The executives said they were keeping a close eye on Vi's fundraising plans, which have been in the works for several quarters.

Adani Enterprises: Billionaire Gautam Adani’s Adani Group is seeking to raise as much as $4 billion to help develop manufacturing plants that would produce low-cost green hydrogen, according to people familiar with the matter. Adani New Industries Ltd., a wholly owned subsidiary of flagship company Adani Enterprises Ltd., will take the lead raising the money from domestic and international banks and is in early-stage talks with several lenders, the people said.

Bajaj Hindusthan Sugar: The National Company Law Tribunal (NCLT) has allowed the withdrawal of the insolvency plea against Bajaj Hindusthan by the State Bank of India, as the outstanding amount has been paid by the sugar manufacturer. SBI had moved an application before the Allahabad bench of the NCLT informing that the outstanding amount has been paid by the Corporate Debtor.

Aditya Birla AMC: Aditya Birla Sun Life AMC, part of Aditya Birla Capital, on Thursday reported a seven per cent decline in net profit to 178 crore in the September quarter. The asset management firm had posted a net profit of 191.7 crore in the year-ago period, Aditya Birla Sun Life AMC said in a statement. The company's revenue from operations rose eight per cent to 335 crore in the quarter under review from 311 crore a year ago.

Westlife Foodworld: Westlife Foodworld Ltd on Thursday reported a 29.05 per cent decline in consolidated net profit to 22.37 crore for the second quarter ended September 2023 due to challenging market conditions. The company had posted a net profit of 31.53 crore in the July-September quarter a year ago, Westlife Foodworld Ltd said in a BSE filing. Its subsidiary Hardcastle Restaurants is the master franchisee of McDonald's restaurants in West and South India.

Indian Bank: The board of the public sector Indian Bank has given its consent to raise 4,000 crore through Qualified Institutional Placements during the current financial year, a top official said on Thursday. The Chennai-headquartered bank reported a 62 per cent growth in its net profit at 1,988 crore for the July-September 2023 quarter from 1,225 crore registered during the corresponding quarter of last year.

Vodafone Idea: Vodafone Idea’s losses widened to 8,737 crore for the September quarter from 7595 crore in the same quarter last year owing to high interest and finance costs, despite an increase in revenue and a larger number of 4G subscribers. The company reported a revenue of 10,716 crore in the three-month period, marginally higher than 10,615 crore in the same period last year. The Ebitda margin was also up to 40% from 38.6%.

PTC India: Power trading solution provider PTC India on Thursday said the company will divest its 100 per cent equity stake in its arm PTC Energy to state-owned upstream firm ONGC for an enterprise value of 2,021 crore. The company had invited bids for selling a 100 per cent equity stake in PTC Energy. ONGC emerged as the successful bidder with a cash bid of 925 crore.

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Published: 27 Oct 2023, 07:13 AM IST
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