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Stocks to Watch today: RIL, Apollo Tyres, IRCTC, IndiGo, Dilip Buildcon

Stocks to watch on Wednesday, November 08, 2023: Reliance lines-up biggest-ever bond sale worth Rs 24,000 crore; Apollo Tyres, Dilip Buildcon post bumper profit in Q2, stocks likely to react today.

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Stock brokers (Photo credit: Kamlesh Pednekar)

Rex Cano Mumbai
Stocks to Watch on Wednesday, November 08, 2023: The key benchmark indices seem poised for a quiet start on Wednesday amid mixed cues from global peers. A sharp fall in Crude oil prices may aid the sentiment, but Fed official comments on likely more rate hikes may taper the investor confidence.

At 07:40 AM, Gift Nifty futures quoted at 19,492 as against the spot Nifty close of 19,406 yesterday.

Overnight, the US market ended higher for the seventh straight trading session after Crude Oil prices dipped to 2.5-month lows. Dow Jones was up 0.2 per cent, while Nasdaq soared 0.9 per cent.

Among commodities, WTI Crude Oil futures cracked sharply below the $80-mark, and was seen quoting at $77 per barrel. Brent Crude futures traded at $81.5 per barrel. for the first time in 

That apart, markets in Asia this morning were directionless. Nikkei and Taiwan advanced up to 0.2 per cent, while Hang Seng, Kospi and Shanghai were down 0.2 per cent.

Meanwhile, here are the stocks that are likely to see some action on Wednesday. 

Q2 Results: Bata India, BHEL, CESC, Easy Trip Planners, EID Parry, GNFC, HEG, IFCI, Landmark Cars, Lupin, Mazagon Dock Shipbuilders, MCX, MOIL, Nazara Technologies, Oil India, Patanjali, Phoenix, Raymond, Renuka Sugars, TajGVK Hotels, Talbros Automotive, Tata Power and Wonderla Holidays are few of the notable companies scheduled to report September quarter earnings today.

Reliance Industries (RIL): The Mukesh Ambani-led firm has reportedly filed for a record $2.4 billion rupee bond sale. The base size of the sale is Rs 10,000 crore with an option to retain subscriptions worth another Rs 10,000 crore. The 10-year bonds will be auctioned on Thursday and are rated AAA with a stable outlook by rating companies CRISIL and CareEdge. 

Apollo Tyres: Q2 consolidated profit more-than-doubled to Rs 474 crore for the quarter ended September 2023 when compared with Rs 179 crore a year earlier. Revenue from operations rose over 5 per cent YoY to Rs 628 crore.

Power Grid Corporation: The state-owned firm posted a near 4 per cent rise in consolidated net profit at Rs 3,781.42 crore when compared with rs 3,650.29 crore a year ago. Total income increased 1.6 per cent YoY to Rs 11,530.43 crore.

IRCTC: Q2 net profit grew 30.4 per cent to Rs 294.68 crore for the quarter ended September 2023 when compared with Rs 226.03 crore in the corresponding quarter a year ago. Total income increased 25.3 per cent YoY to Rs 1,042.39 crore.

Dilip Buildcon: Q2 consolidated net profit soared 4-fold to Rs 68.63 for the quarter ended September 2023 when compared with Rs 17.01 crore a year earlier. Revenue from operations rose 10 per cent YoY to Rs 2,849 crore.

IndiGo: The low-cost airline is anticipating the grounding of over 30 aircraft in Q4FY24 due to issues with Pratt & Whitney (PW) engines, taking the total number of grounded PW-powered jets to around 80 planes. PW engines across the world are facing issues due to the impact of a powder metal defect, which could lead to component cracking. READ MORE

Cipla: The company's board on Tuesday approved the transfer of its Generics Business Undertaking to Cipla Pharma and Life Sciences, its wholly-owned subsidiary, for a consideration of Rs 350 crore.

Alkem Laboratories: Posted an 87.9 per cent YoY increase in net profit at Rs 620.52 crore for the quarter ended on September 2023. Consolidated revenue from operations grew 12.1 per cent to Rs 3,440.17 crore.

3i infotech: Reported a consolidated net loss of Rs 154.16 crore for the quarter ended September 2023 as against net profit of Rs 17.11 crore a year ago. Total income, however, was up 18.7 per cent YoY at Rs 211.66 crore.

Jyoti Structures: Reported a turnaround in Q2FY24 with a consolidated net profit of Rs 11.20 crore as against a net loss of Rs 4.03 crore in Q2Fy23. Total income jumped almost 6-fold to Rs 84.36 crore from Rs 14.21 crore.

Rain Industries: Q2 net profit dipped 27.9 per cent YoY to Rs 23.38 crore, while total income rose 45.3 per cent to Rs 77.40 crore.

Prestige Estates: Q2 net profit grew nearly 3-fold to Rs 129 crore for the quarter ended September 2023 when compared with Rs 45.30 crore in the corresponding quarter a year ago. Total income increased 25.5 per cent YoY to Rs 1,057.70 crore.

ITDC: Q2 net profit surged 59 per cent to Rs 19.59 crore for the quarter ended September 2023 when compared with Rs 12.32 crore in the corresponding quarter a year ago. Total income rose 37.4 per cent YoY to Rs 133.21 crore.

Stocks in F&O ban today: GNFC is the only stock in futures & options ban period on Wednesday. 

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First Published: Nov 08 2023 | 8:05 AM IST

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