Download Unicorn Signals App

Powered By EquityPandit

Stocks in Focus: Vedanta, JSW Infrastructure, State Bank of India, and Others

Picture Source: Internet

The GIFT Nifty futures were trading flattish before the market’s opening on Monday. Indices are expected to open on a similar lacklustre note.

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex advanced on Friday. Nifty 50 soared 85.75 points or 0.49% to settle at 19,230.60, while the BSE Sensex closed at 64,363.78 after advancing 0.44% or 282.88 points.

Here are some stocks likely to remain under the radar on November 6:

State Bank of India (SBI): The public bank posted a standalone net profit for the fiscal second quarter of FY24 at Rs 14,330.02 crore, up 8.03% as against Rs 13,264.52 crore during the corresponding period of last year. The country’s largest lender recorded a 12.27% growth in Net Interest Income (NII). 

Indian Oil Corp: The company received approval from NCLT’s Mumbai Bench for the acquisition of a 100% stake in Mercator Petroleum for about Rs 148 crore in an insolvency proceeding, according to regulatory filings by the company. 

JSW Infrastructure: The Sajjan Jindal-led JSW Group company reported an 85% YoY rise in its consolidated profit at Rs 255.87 crore. Total income increased 28.6% to Rs 895.48 crore. The board of the company approved the acquisition of Marine Oil Terminal Corp. along with its Fujairah Branch at an enterprise value of $187 million and the purchase of a container train operator license from Sical Multimodal and Rail Transport. The firm is also planning to hike capacity utilisation across all its ports to about 80-85% in the coming years and double the total cargo handling capacity to 300 million tonnes per annum. 

Vedanta: The mining major posted a consolidated net loss of Rs 915 crore for the second quarter of FY24, in comparison, the company had posted a net profit of Rs 2,690 crore in the year-ago quarter. During the quarter under review, its revenue rose 6.3% to Rs 38,945 crore from Rs 36,654 crore recorded during the same year-ago period. 

Companies announcing their Quarterly Results today: Adani Energy Solutions, AIA Engineering, Bajaj Electricals, Bharat Forge, Bikaji Foods International, Divis Laboratories, Emami, Exide Industries, FSN E-Commerce Ventures (Nykaa), Gateway Distriparks, Gland Pharma, Hindustan Petroleum Corporation, Hitachi Energy India, Honeywell Automation India, Jubilant Industries, Liberty Shoes, Linde India, Max Healthcare Institute, NHPC, Polyplex Corporation, Quess Corp, Radico Khaitan, Sobha, SPARC, TVS Supply Chain Solutions, Ujjivan Financial Services, Uttam Sugar, Varun Beverages and VRL Logistics among others.

Get Daily Prediction & Stocks Tips On Your Mobile