Hyundai Motor India Ltd., KEI Industries Ltd., PNC Infratech Ltd., and NRB Bearings Ltd. are the stocks to watch before going into trade on Monday.
Hyundai Motor India's initial public offering is going to enter day two of bidding, after being subscribed 18% on day one, with bids primarily led by employees.
Markets are set to react to the financial results of KEI Industries for the quarter ended September, post the company's report of a 10.7% rise in net profit and a Rs 2,000 crore QIP.
Bajaj Auto Ltd. and L&T Technology Services Ltd. will release their financial results for the second quarter, which may impact market sentiment.
PNC Infratech has received a letter of acceptance of Rs 2,268 crore from the Maharashtra State Road Development Corporation for a road construction project in Pune and other projects in Maharashtra.
Here Are The Stocks To Watch Before Going Into Trade On Wednesday
Hyundai Motor India: The public issue will enter day two of its offering after being subscribed to 0.18 times on day one of its initial public offering, with bids being led by employees at 0.80 times and retail investors at 0.26 times.
PNC Infratech: The company has received a letter of acceptance valued at Rs 2,268 crore from the Maharashtra State Road Development Corporation for a road construction project in Pune, as well as a project worth Rs 2,362 crore for road construction in Nanded, Maharashtra.
Ashoka Buildcon: The company received a letter of acceptance for a construction project worth Rs 1,127 crore for the construction of Flyover Arm 1 and Arm 2 at the T Junction on the Sion-Panvel Highway in Maharashtra, located in the M/E Ward. The project duration is 30 months, including the monsoon period, from the Brihanmumbai Municipal Corporation.
Cochin Shipyards: The government is set to sell up to a 5% stake in the company via an offer for sale at a floor price set at Rs 1,540 per share. The offer includes a base offer of 2.5% and an oversubscription option of an additional 2.5%. The offer for sale is to open on Oct. 16 and close on Oct. 17.
GR Infra: The company received a letter of acceptance from the Maharashtra Government for the construction of an access-controlled Pune ring road project worth Rs 1,886 crore.
Sansera Engineering: The company issued 77.2 lakhs at Rs 1,554 apiece to raise Rs 1,200 crore via qualified institutional placement.
ONGC: The company has been allotted 559 crore equity shares of Rs 10 each of its arm, OPAL, by way of subscription of shares on the right basis. The shareholding of the company in its arm has increased from 91.16% to 94.04%.
Railtel: The company received an order valued at Rs 79.8 crore from the Maharashtra Housing and Area Development Authority. The project needs to be executed by Jan. 15, 2025, according to an exchange filing.
Life Insurance Corp: The company decreased shareholding in equity shares in Vakrangee from 6.4% to 4.4%.
NRB Bearings: The company has announced an interim dividend of Rs 2.5, for which the record date and the ex-date are set as Oct. 16.
Earnings Post Market Hours On Tuesday
KEI Industries Q2 FY25 (Consolidated, YoY)
Revenue up 17.22% to Rs 2,280 crore versus Rs 1,945 crore (Bloomberg estimate Rs 2,266 crore).
Ebitda up 9.2% to Rs 220.6 crore versus Rs 202 crore (Bloomberg estimate Rs 240 crore).
Ebitda margin down 71 bps at 9.67% versus 10.38% (Bloomberg estimate 10.6%).
Net profit up 10.71% to Rs 155 crore versus Rs 140 crore (Bloomberg estimate Rs 167 crore).
The company raised Rs 2,000 crore from QIP.
Rallis India Q2 FY25 (YoY)
Revenue up 11.5% to Rs 928 crore versus Rs 832 crore.
Ebitda up 25% to Rs 166 crore versus Rs 133 crore.
Margin at 17.9% versus 16.0%.
Net Profit up 20% to Rs 98 crore versus Rs 82 crore.
Earnings In Focus On Wednesday
Bajaj Auto Ltd., L&T Technology Services Ltd., Crisil Ltd. and Mphasis Ltd. are among the top names that will announce their results on Wednesday for the second quarter of the current financial year.
Analyst estimates show that Bajaj Auto is likely to report a net profit of Rs 2,201 crore and revenue of Rs 13253 crore, according to Bloomberg estimates. It is likely to post an Ebitda of Rs 2689 crore and Ebitda margin of 20.3%.
L&T Technology Services is likely to clock a bottom line of Rs 333 crore and Rs 2570 crore in the top line, according to Bloomberg estimates. The company is likely to report earnings before interest, taxes, depreciation and amortisation at Rs 413 crore and Ebitda margin at 16.10%.
Crisil is estimated to report a profit of Rs 159 crore and a revenue of Rs 790 crore.
India's benchmark stock indices ended lower on Tuesday, tracking the losses in index heavyweight Reliance Industries Ltd. after it reported lower than expected profit in the September quarter. RIL contributed 37.36 points of the 65-point fall in the Nifty 50.
Nifty ended 0.28% or 70.60 points, lower at 25,057.35 and Sensex closed 0.19% or 152.93 points, down at 81,820.12. Intraday, Nifty fell 0.5% and Sensex fell 0.4%.
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