SUMMARY
Stocks to watch on Nov 14: SGX Nifty was trading at a premium of more than 20 points from Nifty Futures Friday close, indicating a start in the green for the Indian market on Monday. Here’s a look at top stocks to watch out for in today’s trade
Earnings: ONGC, Grasim Industries, Biocon, Bharat Forge, Apollo Tyres, IRCTC, Dilip Buildcon, Godrej Industries, Indiabulls Housing Finance, Mindspace Business Parks REIT and SpiceJet among others are expected to report their financial results for the July to September quarter.
Aurobindo Pharma: The pharma firm’s net profit for the second quarter of the fiscal slipped 16.8 percent year-on-year to Rs 478.3 crore while revenue was 3.4 percent lower at Rs 5,739.3 crore compared to the same period last fiscal.
JK Cement: JK Cement’s standalone profit for the September ended quarter came in 26 percent lower YoY at Rs 124.8 crore while revenue rose 16.7 percent to Rs 2,141.8 crore. Its margin slipped to 2.3 percent from 5.5 percent in a year-ago period.
Patanjali Foods: The standalone net profit of the company in the second quarter declined 31.6 percent YoY to Rs 112.3 crore whereas revenue went up 42 percent to Rs 8,514 crore. EBITDA was down 41.1 percent at Rs 194.6 crore.
Life Insurance Corporation of India: LIC reported a Rs 15,952 crore net profit for the September quarter, a manifold increase from last year’s Rs 1,434 crore. The insurer said that the profit increased to this extent due to change in accounting policy.
Godfrey Phillips: The firm saw its net profit surge over 92 percent YoY for the quarter ended September to Rs 201.8 crore while revenue went up 54 percent to Rs 1,191.6 crore. Margin rose to 20.2 percent vs 19 percent in the same quarter a year ago.
Paytm: The value of loans disbursed grew 387 percent year-on-year to Rs 3,056 crore ($407 million), while the number of loans disbursed grew 161 percent y-o-y to 3.4 million loans in the month of October 2022, the firm said in an exchange filing.
Natco Pharma: Teva and Natco have been named defendants in an antitrust lawsuit in the US by Walgreens Co regarding Lenalidomide (Revlimid). Natco believes this matter is without merit.
Godrej Properties: The firm has been declared the highest bidder for two adjacent land parcels in Noida for a total bid value of Rs 377 crore. The land will have an estimated developable potential of approximately 3.2 msf. The company will develop residential group housing on the land parcels in Noida.
Read More: Stocks to watch: ONGC, Paytm, LIC, Godrej Industries, IRCTC and more