Stocks to Watch: Power Finance, Tata Power, Lupin, Raymond, HAL, Bata India

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

Power Finance Corporation: State-owned Power Finance Corporation (PFC) on Wednesday posted a nearly 27% rise in its consolidated net profit to ₹6,628.17 crore in the July-September quarter compared to a year ago. The consolidated net profit of the company was ₹5,229.33 crore in the quarter ended on September 30, 2022, a BSE filing showed. Total income rose to ₹22,403.69 crore in the quarter from ₹19,344.39 crore in the same period a year ago.

Tata Power: Tata Power on Wednesday reported an 8.79% year-on-year (YoY) growth in its consolidated net profit for the July-September quarter to ₹1,017.41 crore. The company had reported a net profit of ₹935.18 crore in the year-ago period. Revenue for the period under review rose 9% to ₹15,442 crore. The company attributed its growth in revenue and profits to its “healthy balance sheet, operational excellence, and synergies across all business clusters".

Lupin: Pharmaceutical major Lupin reported a net profit of ₹490 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which is 277% higher as compared to ₹130 crore clocked in the year-ago period. Sequentially, the net profit grew by 8% from ₹452 crore posted in the quarter ended June 2023. The company's total revenue from operations came in at ₹5,039 crore in the second quarter, higher by 21% YoY.

Raymond: Textile, apparel, and real estate conglomerate Raymond Ltd on Wednesday reported a marginal rise in its net profit to ₹159.78 crore for the September quarter from ₹158.86 crore in the previous year. While the profit growth was modest, it came amid a delayed festive and wedding season, which typically contributes significantly to the company's sales. Revenue from operations grew by 4% year-on-year to ₹2,253.4 crore.

HAL: Hindustan Aeronautics Ltd (HAL) signed a Transfer of Technology (ToT) agreement with CSIR-National Aerospace Laboratories (NAL) on Wednesday, for the manufacturing of BMI Engine Bay Door for the series production of LCA – Tejas Mk1A. Tejas Mk1A is an indigenous 4.5 generation, all-weather and multi-role fighter aircraft for the Indian Air Force. HAL had requested for transfer of technology for the BMI Engine Bay Door, and the ToT agreement has been reached.

Bata India: Bata India reported a decline of 38% in consolidated net profit at ₹33.9 crore, compared to ₹54.8 crore in the corresponding period last year. The footwear retail company's revenue from operations in the second quarter of the current fiscal stood at ₹819 crore, registering a drop of 1.3 per cent, compared to ₹829.7 crore in the year-ago period. The company's consolidated PBT in the September quarter stood at ₹46.4 crore, a drop of 35.5%

BHEL: Bharat Heavy Electricals Limited, on Wednesday, reported a net loss of ₹238 crore in the September quarter of FY 24 against a profit of ₹12 crore in the year-ago period. The company's revenue decreased by 1.5% at ₹5,125.3 crore in the September quarter against ₹5,202.6 crore in September FY24. A look at BHEL's April-June quarter's performance will reveal a 30.8% decline in its net loss from ₹343,89 crore in the previous quarter.

Titagarh Rail Systems: Engineering company Titagarh Rail Systems Ltd on Wednesday said it plans to raise up to ₹700 crore through a Qualified Institutions Placement (QIP) and seeks a strategic partner for the shipbuilding, bridges, and defence business. In a regulatory filing, the company said proceeds from the QIP will be used to strengthen the company's position in its core businesses and to fund future growth initiatives.

Oil India: State-run explorer Oil India on Wednesday reported an over 80% drop in second-quarter profit as it set aside ₹2,363 crore for an ongoing litigation. Profit for the quarter ended Sept. 30 dropped to ₹325 crore from ₹1,721 crore a year ago. However, profit before tax from its crude oil segment rose nearly 42%, while its natural gas segment rose over 24%, it said in a statement.

Pidilite: India's Pidilite Industries on Wednesday posted a jump in second-quarter profit on the back of lower costs, and said it would enter the lending business. The Fevicol-maker posted a consolidated net profit of 4.5 billion rupees for the quarter ended Sept. 30, up over 35% from last year. Profit growth was helped by an over 50% decline in prices of vinyl acetate monomer (VAM), a key raw material for adhesives.