Stocks to watch: Maruti, SpiceJet, SBI Card, Indus Towers, Tata Chemicals- QHN

Stocks to watch today: Indian equity markets are likely to open on a positive note supported by steady foreign inflows and falling crude prices. At 7:35 am, the SGX Nifty quoted at 17,850 levels, up nearly 50-odd points.

Globally, the US markets whipsawed on Thursday as NASDAQ Composite and the S&P 500 indices declined up to 1 per cent. Dow Jones index, however, surged over 150 points to close at 0.6 per cent.

Asia-Pacific markets traded lower ahead of Bank of Japan’s interest rate decision and quarterly earnings season. Key indices like Nikkei 225, Topix, Kospi, Hang Seng, Shanghai Composite, and the S&P 200 slipped up to 0.6 per cent.

Meanwhile, back home, here’s a list of stocks that may see action in Friday’s trade:

Q2 results: Maruti Suzuki, Vedanta, Dr Reddy’s, Tata Power, JSW Energy, Bandhan Bank, Blue Dart Express, Sona BLW, IFB Industries, Vardhman Textiles, Eveready Industries, among many others will report the July-September quarter (Q2FY23) results on Friday, October 28.

SBI Card: The company reported 52 per cent year-on-year (YoY) jump in net profit Rs 526 crore in Q2FY23 from Rs 345 crore in Q2FY22, driven by spike in income and lower provisions. Total income, meanwhile, grew 28 per cent YoY to Rs 3,453 crore in the recently concluded quarter. READ MORE

SpiceJet: The airline operator received DGCA’s nod for wet leasing five Boeing 737 Max planes for up to six months. According to reports, the airline has already deployed two of the aircraft on different routes. Generally, wet leasing of planes is allowed for short periods to tackle supply constraints and ensure that airfares do not surge significantly. READ MORE

Indus Towers: The company will raise up to Rs 2,000 crore via non-convertible debentures (NCDs). The fund raise was approved by the board after Q2FY23 results which saw 44 per cent YoY drop in net profit to Rs 872 crore. Revenue, meanwhile, rose 16 per cent YoY to Rs 7,967 crore in Q2FY23. READ MORE

Tata Chemicals: The company clocked nearly three-fold jump in consolidated net profit to Rs 628 crore in Q2FY23 from Rs 221 crore, in the year-ago period. Net income, too, rose 39.62 per cent YoY to Rs 4,299 crore in Q2FY23 as against Rs 3,079 crore in Q2FY22. Expenses increased, on the other hand, rose to Rs 3,623 crore in Q2FY23 from Rs 2,805 crore. READ MORE

PNB Housing Finance: The housing finance firm’s net profit rose by 12 per cent YoY to Rs 263 crore in Q2FY23 from Rs 235 crore, in the year-ago period. Net interest income (NII), too, expanded 29 per cent YoY to Rs 649 crore in Q2FY23. READ MORE

Adani Green Energy: The company received shareholders approval to appoint Ahlem Friga Noy as non-executive and nominee director in the company. Ahlem is a seasoned public affairs, geopolitical adviser and negotiation expert with 20 years’ experience in the public as well as private sector.

Aditya Birla Sun Life AMC: The company reported 11 per cent rise profit after tax (PAT) to Rs 191.68 crore in Q2FY23 from Rs 173.07 crore in Q2FY22. Total revenue, too, climbed to Rs 387.66 crore in the recently concluded quarter as against Rs 372.2 crore, in the year-ago period.

JSW Steel: The company’s US unit raised $182 million long-term debt from Italy’s Intesa Sanpaolo and Banco BPM, in order to upgrade plate mill in Baytown, Texas. Out of the total financing, $70 million is under SACE guarantee by the Italian government to promote Italian exports, whereas, the rest of the capital is a term loan.

Texmaco Rail and Engineering: The company secured Rs 252.8 crore contract to supply standard gauge ballastless track for the Indore Metro Rail project. The company was the lowest bidder and beat L&T’s Rs 263.3 crore bid for the contract floated by Madhya Pradesh Metro Rail Corporation.

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