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Stocks in News Today: From Dr Reddy’s to SJVN and Titan, here are stocks that are likely to remain in focus on Wednesday, November 6, 2024.
Stocks in News November 6, 2024. (Photo credit: depositphotos)
New Delhi: The Sensex rose 694.39 points to 79,476.63 on Tuesday while the Nifty was at up 217.95 points to 24,213.30 at market closing. Axis Bank, IndusInd Bank, and HDFC Bank were the top gainers while ITC, Bharti Airtel and Asian Paints were top drags.
All eyes will be on the trends from the US presidential polls which pit former President Donald Trump against current US Vice President Kamala Harris. A clean sweep for either candidate will mean a potential slowdown in the global markets, according to an Emkay Global research paper.
Here are stocks that are likely to remain in focus on Wednesday, November 6, 2024:
Dr Reddy’s: The pharma major’s Q2 net profit was down 9.35 per cent to Rs 1,341.5 crore compared to Rs 1,480 crore in the year-ago period, it said in a regulatory filing.
GAIL: The state-owned gas exploration company’s Q2 net profit rose 10 per cent to Rs 2,689.67 crore from Rs 2,442.18 crore in the year ago period.
Hindustan Zinc: The government plans to offload a 2.5 per cent stake in the company owned by Vedanta. The offer for sale will be for a 1.25 per cent with a greenshoe option ti sell an additional 1.25 per cent stake.
IHCL: The Tata Group company in an exchange filing stated that its board had approved the acquisition of a 55 per cent stake in Rajscape Hotels (RHPL), a unit of the Ambuja Neotia Group. RHPL operates 19 resorts and hotels under the Tree of Life Resorts and Hotels brand. The deal consideration is capped at Rs 18 crore, IHCL added.
Mankind Pharma: The pharma major’s Q2 net profit rose to Rs 501 crore while its Q2 revenue rose 13.6 per cent to Rs 3,076 crore from Rs 2,708.1 crore in the year ago period.
NBCC: The construction consultancy secured a Rs 500 crore contract from the Bureau of Indian Standards (BIS), according to a regulatory filing.
NTPC: The power giant’s board gave its nod for Rs 80,000 crore worth of investment proposals for a total thermal project capacity of 6,400 MW. The approval covers the Telangana Super Thermal Power Project’s second phase and Gadarwara Super Thermal Power Project’s second stage along with the second stage of Nabinagar Super Thermal Power Project, according to an exchange filing.
SJVN: The state-owned company hydro power projects company reported a flat Q2 net profit Rs 439.90 crore, compared to Rs 439.64 crore during the same period a year ago.
Titan: The wearables maker’s Q2 net profit declined 23 per cent to Rs 704 crore from Rs 916 crore in year ago period owing to a gold import duty cut.
Waaree Renewable Technologies: The company’s Q2 net profit grew almost 3X to Rs 53.51 crore from Rs 20.54 crore in the year ago period. The company’s stock listed at a record premium last month.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
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