“Continued resilience in banking majors along with strength in IT stocks provides comfort for a potential rebound. Traders are advised to maintain a stock-specific approach, emphasizing risk management and rotational opportunities across sectors amid the prevailing volatility,” said Ajit Mishra – SVP, Research, Religare Broking.
In today’s trade, shares of BSE, HAL, Asian Paints, Tata Steel, Tata Power among others will be in focus due to various news developments and second quarter results.
BSE
BSE reported a 61% growth in its consolidated Q2 net profit at Rs 558 crore versus Rs 347 crore in the year ago period. The profit after tax (PAT) is attributable to the shareholders of the company. The company’s revenue form operations in the September ended quarter stood at Rs 1,068 crore, which was up 44% over Rs 741 crore in the corresponding quarter of the last financial year.
AWL Agri Business
Fair trade regulator CCI cleared Wilmar International’s proposal to acquire up to 20 per cent stake in AWL Agri Business Ltd from Adani Group. The move came after Adani Group in July this year announced that it will sell a 20 per cent stake in AWL Agri Business (formerly Adani Wilmar Ltd) to Singapore-based Wilmar International for Rs 7,150 crore, as part of its decision to exit the FMCG business and focus on its infrastructure vertical.
Cipla
Indian pharma firms operating in China have made some headway into the Chinese market winning bids to supply bulk generic drugs, specially the widely prescribed Dapagliflozin which is used to treat diabetes. Indian firms, Hetero Labs Limited, Cipla Ltd, Annora Pharma Private Limited, and Natco Pharma, won the bids conducted by the Chinese health ministry for procurement of pharmaceuticals for its hospitals, according to the India-China Economic and Cultural Council (ICEC).Tata Power
Tata Power plans to set up the country’s largest solar wafers and ingots manufacturing plant with a capacity of 10 gigawatts, chief executive Praveer Sinha said. The facility to make the ingots and wafers – foundational material for solar cells – would complete Tata Power’s presence across the manufacturing chain for the product. The company already has 4.9 GW of integrated cell and module-making capacity.
Torrent Pharma
Ahmedabad-based Torrent Pharma, the flagship of the Torrent Group, is charting an ambitious growth path by focusing on innovation in chronic therapies and expanding into high-growth segments. The company, known for its Rs 500-crore vitamin brand Shelcal (including variants) and cardiac drug Nikoran with Rs 245-crore sales, plans to leverage its core strengths while venturing into emerging areas such as weight-loss therapies, reported TOI.
Zydus
Zydus Lifesciences said it has received approval from the Chinese health regulator to market a medication for the treatment of major depressive disorder among others. The company has received approval from the National Medical Products Administration (NMPA), China for Venlafaxine extended-release capsules in strengths of 75 mg and 150 mg respectively, the drug firm said in a statement.
RVNL
State-owned RVNL on Tuesday posted around 20% fall in consolidated net profit to Rs 230.52 crore in the September quarter, impacted by higher expenses. It had clocked a net profit of Rs 286.90 crore in the year-ago period, the company said in an exchange filing. The company’s total income rose to Rs 5,333.36 crore from Rs 5,136.07 crore during July-September FY25.
HAL, Asian Paints, Tata Steel, Ashok Leyland, Info Edge
Shares of HAL, Asian Paints, Tata Steel, Ashok Leyland and Info Edge will be in focus as the companies will announce their second quarter results today.
Bharat Forge
Bharat Forge said its board has accorded approval to raise upto Rs 2,000 crore through various instruments including term loan, non-convertible debentures or any other debt instruments. The board has accorded in-principal approval for raising funds not exceeding Rs 20,00 core through term loan, non-convertible debentures or any other debt instruments and delegated authority to investment committee – strategic business in this regard, the Pune-based firm said.