The GIFT Nifty futures were trading in the green before the market’s opening on Thursday. Indices are expected to open on a similar positive note.
NSE Nifty 50 climbed slightly, while S&P BSE Sensex ended flattish on Wednesday after a volatile session. Nifty jumped 0.19% or 36.8 points to end at 19,443.5, while Sensex stayed flat with a 33-point or a marginal 0.03% rise at 64,975.61.
Here are some stocks likely to remain in focus on November 9.
Bharat Heavy Electricals (BHEL): The state-owned power equipment maker has posted a consolidated net loss of Rs 238.1 crore for the quarter ended September FY24, compared to a net profit of Rs 12.10 crore in the year-ago period, impacted by weak operating performance and a lower topline. Revenue from operations declined 1.5% YoY to Rs 5,125.3 crore in Q2 FY24.
Adani Green Energy, Adani Ports & SEZ: Adani Green Energy is set to make an initial investment of $750 million to establish a 500 MW wind farm in Sri Lanka and export power to India. Colombo West International Terminal, where Adani Ports holds a 51% stake, is set to receive $553 million in funding from the US Development Finance Corporation (DFC). The company is also scheduled to report earnings today.
Gujarat Narmada Valley Fertilisers & Chemicals (GNFC): The company has registered a 23.5% on-year decline in consolidated profit at Rs 182 crore for the quarter ended September FY24, impacted by a lower topline. The company has received approval from the board members for its proposal to buy back 5.46% of the shares at Rs 770 per share, amounting to Rs 652 crore.
Biocon: Subsidiary Biocon Biologics has entered into a definitive agreement with Eris Lifesciences for divesting its dermatology and nephrology branded formulations business units in India on a slump sale basis. The total transaction value of the divestment is Rs 366 crore, which is expected to close by the end of November 2023.
Pidilite Industries: The adhesives, sealants, and construction chemicals manufacturing company has reported a 36% on-year growth in consolidated profit at Rs 458.5 crore for the quarter ended September FY24. Pidilite plans to invest up to Rs 100 crore over the next two years to set up a lending business, providing credit to its domain ecosystem to support its business growth.
Companies announcing their Quarterly Results today: ABB, Abbott India, Adani Ports And SEZ, Apollo Hospitals Enterprise, Ashok Leyland, Aurobindo Pharma, Bajaj Consumer Care, Bosch, Campus Activewear, Cartrade Tech, Cholamandalam Financial Holdings, Dish TV India, Eclerx Services, Engineers India, Finolex Cables, General Insurance Corporation Of India, Genus Power Infrastructures, GlaxoSmithKline Pharmaceuticals, Ircon International, IRM EnergyJet Airways, Kirloskar Industries, Lemon Tree Hotels, Marksans Pharma, Muthoot Finance, Nbcc (India), NCC, Page Industries, Parag Milk Foods, Piramal Enterprises, Rail Vikas Nigam, Ramco Cements, Samvardhana Motherson International, SJVN, Sula Vineyards, The Ramco Cements, Torrent Power, Welspun Enterprises and Zee Entertainment among others.