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Business News/ Markets / Stock Markets/  Stocks to Watch: Honasa Consumer, Wipro, HPCL, Bajaj Finance, Adani Energy

Stocks to Watch: Honasa Consumer, Wipro, HPCL, Bajaj Finance, Adani Energy

IRCTC, Power Grid, Trent, Zydus Lifescience, Apollo Tyres, CRISIL, and Devyani International will be among the stocks to watch on Tuesday as they will be declaring their quarterly earnings report

Stocks to Watch for Tuesday. AFP PHOTO/Ralphson DAVIDPremium
Stocks to Watch for Tuesday. AFP PHOTO/Ralphson DAVID

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

Honasa Consumer: Analysts predict that the stock of Honasa Consumer, the parent company of Mamaearth, is likely to debut with a flat to marginally positive listing on November 7. Mamaearth's recent IPO faced significant market challenges, although it was well-received by qualified institutional bidders (QIB), who oversubscribed the offering by 11.5 times. In contrast, retail investors demonstrated caution, subscribing only 1.4 times the allotted quota.

Wipro: Wipro Ltd., the country's fourth largest software services firm, has made it mandatory for its employees to work from the office three days a week, effective 15 November, signalling a shift in the IT industry towards decreasing remote work arrangements. This follows a move by peer Tata Consultancy Services, which has directed some of its teams to work on-site full-time, five days a week. It also said that about 55% of its employees are already coming thrice a week to office.

HPCL: State-run Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a consolidated net profit of 5,826.96 crore for the July-September quarter on the back of low crude prices and higher gross refining margin (GRM). During the same period of the last fiscal, the oil marketing company had reported a net loss of 2,475.69 crore. HPCL's revenue during the period under review, however, declined 10.15% to 1 lakh crore.

Bajaj Finance: Bajaj Finance Ltd on November 6 announced the launch of a qualified institutional placement (QIP) to raise funds, with the floor price set at “ 7,533.81 per share". The company informed the exchanges that it may offer a discount of up to 5% on the floor price. The issue was given the nod by the company's QIP Special Committee, which met earlier in the day.

Adani Energy: Adani Energy Solutions on Monday reported a consolidated net profit of 284 crore in the second quarter of fiscal year 2023-24 (Q2FY24), 47% higher compared to 194 crore recorded in the year-ago period. The company's consolidated revenue in Q2FY24 came in at 3,421 crore, up 13% from 3,032 crore clocked in the corresponding quarter of the previous fiscal.

Emami: Homegrown FMCG major Emami Ltd on Monday reported a flat profit after tax of 180 crore for the second quarter that ended on September 30, 2023. The company had posted a net profit of 180.13 crore in the July-September quarter a year ago, according to a regulatory filing. However, Emami's revenue from operations rose 6.28% to 864.87 crore during the quarter as compared to 813.75 crore in the corresponding quarter.

NHPC: NHPC Q2 results: Miniratna power company, National Hydroelectric Power Corporation, on Monday, reported a net consolidated profit of 1,693 crore in the September quarter of FY 23-24. Its consolidated net profit stood at 1,685.81 crore in the quarter ended September last year. The company shares closed marginally higher at 50.39 per share on BSE on Monday.

Bata India: Footwear retailer and manufacturer Bata India on Monday said it has signed a licensing and manufacturing deal with Authentic Brands Group to launch and sell lifestyle brand Nine West in India. In India. Bata has four manufacturing facilities in the country, with a retail presence through 2,050 stores in multiple cities. In 2022, Authentic Brands Group announced the acquisition of sportswear brand Reebok from Adidas.

Nykaa: FSN E-Commerce Ventures, the operator of online beauty and fashion retailer Nykaa, on November 6 reported a consolidated net profit of 7.8 crore in the second quarter of fiscal year 2023-24 (Q2FY24). This is 50% higher as compared to 5.2 crore clocked in the year-ago period. Sequentially, the net profit increased by 44% from 5.4 crore reported in the first quarter of the current fiscal.

Bajaj Electricals: Bajaj Electricals Ltd on Monday reported a 56% decline in consolidated net profit to 27.28 crore for the September quarter on account of weak consumer demand. The company had posted a net profit of 62 crore in the July-September period a year ago, according to a regulatory filing. Its net sales declined 3.76% to 1,107.40 crore in the second quarter of the current fiscal as against 1,150.77 crore in the year-ago period.

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Published: 07 Nov 2023, 07:22 AM IST
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