Stocks To Watch: Zomato, Bank Of Baroda, Airtel, L&T Tech, Berger Paints, Yes Bank
The domestic stock markets are likely to open in the negative territory on Thursday, November 11, on the weekly F&O expiry date. Nifty futures were trading 42.50 points or 0.24 per cent lower at 17,973 on the Singaporean Exchange.
In the previous session, equity benchmarks declined for the second straight session dragged by losses in banking stocks such as losses HDFC Bank, ICICI Bank, and Kotak Mahindra Bank. On Wednesday, the Sensex ended 81 points lower at 60,352 and Nifty 50 index fell 27 points to close at 18,017.
Leading good delivery platform Zomato announced its July-September quarter results yesterday, reporting a net loss of Rs 435 crore. FSN E-Commerce Ventures- led beauty e-commerce giant Nykaa, make a blockbuster stock market debut yesterday. Nykaa shares rose as much as 99 per cent to hit an intraday high of Rs 2,235 on the NSE and its market capitalisation crossed Rs 1 lakh crore.
Stocks to watch in trade in today's session- November 11, 2021:
Zomato
Leading good delivery platform Zomato announced its July-September quarter results yesterday - its second quarter results since its IPO launched in July. Zomato's net loss widened to Rs 435 crore in the second quarter of current fiscal, compared to Rs 229 crore in the year-ago period. Its revenue from operations jumped to Rs 1,024.2 crore in the September quarter compared to Rs 426 crore during the corresponding period last year.
Bank of Baroda
State-run lender Bank of Baroda's net profit rose 24 per cent to Rs 2,088 crore on a standalone basis in the July-September quarter, compared to Rs 1,679 crore in the corresponding period last year. Its net interest income rose two per cent to Rs 7,566 crore, compared to Rs 7,508 crore in the year-ago period. The bank's asset quality improved on a sequential basis.
L&T Technology
Leading global engineering services company L&T Technology announced that it entered into an agreement with Microsoft to offer IIoT-based smart manufacturing solutions.
Bharti Airtel
Bharti Airtel - the country's leading telecom provider, announced that it extended its partnership with cloud service provider Oracle, to support the digital economy and provide cloud solutions to more than one million enterprise customers. Oracle will leverage Nxtra by Airtel – the data centre subsidiary of Airtel, as part of the partnership, to expand its India West region capacity in Mumbai.
Yes Bank
Moody's Investors Service has upgraded Yes Bank's long-term foreign currency issuer rating and long-term foreign and local currency bank deposit ratings to B2 from B3. Moody's also upgraded Yes Bank's Baseline Credit Assessment (BCA) and adjusted BCA to b3 from caa2. It changed the outlook on Yes Bank's ratings where applicable to positive from stable, reflecting the expectation of an improvement to the bank's credit profile.
Berger Paints
Berger Paints announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 219 crore on a standalone basis, compared to Rs 221 crore in the year-ago period, marking a growth of one per cent year-on-year.
