Indian Stock Market – Exploring Lucrative Investment Prospects on October 17, 2024
Check These Stock Trending In The Stock Market
Bajaj Auto Ltd
- Consumer Cyclical | Large Cap
- Rs.10399.50/-
Reliance Industries Ltd
- Energy | Large Cap
- Rs.2728.70/-
Rail Vikas Nigam Ltd
- Real Estate | Mid Cap
- Rs.498.55/-
National Aluminium Company Ltd
- Basic Materials | Mid Cap
- Rs.228.50/-
Angel One Ltd
- Financial Services | Small Cap
- Rs.3149.00/-
Mphasis Ltd
- Technology | Mid Cap
- Rs.3008.20/-
BSE Ltd
- Financial Services | Mid Cap
- Rs.4437.00/-
Hero MotoCorp Ltd
- Consumer Cyclical | Large Cap
- Rs.5152.45/-
ICICI Bank Ltd
- Financial Services | Large Cap
- Rs.1230.20/-
HDFC Bank Ltd
- Financial Services | Large Cap
- Rs.1676.75/-
Infosys Ltd
- Technology | Large Cap
- Rs.1950.35/-
Mahindra & Mahindra Ltd
- Consumer Cyclical | Large Cap
- Rs.2992.90/-
Larsen & Toubro Ltd
- Real Estate | Large Cap
- Rs.3533.80/-
Chennai Petroleum Corporation Ltd
- Energy | Small Cap
- Rs.976.00/-
State Bank of India
- Financial Services | Large Cap
- Rs.809.05/-
Central Depository Services (India) Ltd
- Financial Services | Small Cap
- Rs.1585.90/-
Trending Top Stories in The Indian Stock Market on October 17, 2024
1. Nestle India is to declare its Q2FY25 results on October 17, and the company expects its adjusted profit margin to increase between 7-8% with an estimate of around Rs 876 crore.
2. Vodafone Idea ready for the launch of 5G services in Mumbai and Delhi, which is likely to happen by December; has placed some orders with Nokia, Ericsson, and Samsung.
3. DoT waives the BG requirement from Bharti Airtel’s past auction dues; estimated benefit to be around Rs 3,000 crore.
4. Government to invoke greenshoe option of 2.5% in Cochin Shipyard’s Offer For Sale on strong demand.
5. Gujarat Toolroom Limited bags a new order for Rs 310 million from Reliance Industries for construction material which bodes well for cooperation.
6. Bajaj Auto Q2 FY25 net profit down by 31.4% at Rs 1,385.44 cr and revenue advances 22.2% to Rs 13,247.28 cr.
7. UltraTech Cement has enhanced its grinding capacity at its unit in Arakkonam to 1.2 mtpa, taking total capacity to 156.06 mtpa.
8. Mphasis reported Q2 net profit of Rs 423 crore, up by 8% even as revenue dropped by 7.92% to Rs 3,536.14 crore.
9. Nestle India is expected to announce Q2FY25 on October 17 while adjusted profit is likely to increase 7-8% to about Rs 876 crore.
10. Vodafone Idea said it will launch 5G services in the country’s two biggest cities, Mumbai and Delhi, before December-end. Nokia, Ericsson, and Samsung get the order for equipment.
11. Infosys: Infosys would announce its results for Q2FY25 today. Nett sales are expected to improve by 5% YoY. PAT is estimated to have gained 11% YoY.
12. Mphasis Mphasis has reported a net profit for Q2 at 423 crore, up 4.6%. Revenue was up 3.3% at 3,536 crores, and EBIT margin expanded to 15.4%.
13. Infosys is likely to report a 10-15% YoY increase in profit and may change the revenue guidance for FY25 at constant currency terms, albeit at a lower 4-5% levels.
14. Nestle India may release Nestle revenue at 5-7% growth and a 6.5-8% net profit in Q2FY25 estimates from some brokerages.
15. Wipro’s board will consider the Q2 results and its bonus issue proposal on October 17, when the company is also said to be reporting a 9-12% increase in its net profit despite 2% decline in revenue.
16. Launches: Tata Elxsi launched Coalesce, an XR-based immersive collaboration solution powered by the Qualcomm Snapdragon Spaces XR platform.
17. Bajaj Auto’s board cleared a further investment of up to $10 million into Bajaj Brazil as its presence in the region continues to build up.
18. EIH Ltd’s board of investment: up to GBP 69 million for a 100% stake in EIH London Investments, which has not yet commenced operations.
19. UBS changes SRF Ltd rating to Sell from Buy, lowers target price of ₹2,100 by weak demand for agrochemicals and soft refrigerant gas prices.
20. ABDV invests Rs 75 crore in Wrogn, increasing stake to 32.84% from 17.10%.
21. Jefferies maintains buy rating on KEI Industries, and raises its target price to Rs 5,720 by assuming Power T&D orders to see recoveries in next 12-18 months.
22. Himadri Speciality Chemicals Ltd has announced a 33% YoY growth in its net profit to Rs 134 crore in Q2 FY25 as revenue grows 13% at Rs 1,135 crore.
23. Bajaj Auto updated two-wheeler sales growth estimate to 5% from a previous range of -5% to 5%, ahead of reporting three-fold increase in quarterly export growth.
24. Infosys is likely to announce Q2 FY2025 revenue that would have grown 3.74% to Rs 40,785 crore. With its QoQ net profit expected to surge 5.86% to Rs 6,741 crore, Infosys would be continuing this pattern for the successive Q.
25. Nokia is in talks with Bharti Airtel for a potential multi-billion dollar contract for 5G telecom equipment.
26. Tata Steel’s net profit is likely to be down by 40-100% in the September quarter on low steel prices and weak demand, estimates analysts.
27. Mutual funds invested 10.58% in Tata Motors in September, buying 9.36 crore shares but Fils increased their holding to 20.55%.
28. Bajaj Auto raises the two-wheeler sales growth rate estimate to 5% and plans to launch the upgraded version of electric scooters under brand Chetak in November.
29. Hazoor Multi Projects fixes record date of November 7, 2024, for 10:1 stock split cleared in the AGM held on August 27, 2024. Shri. Patel Engineering signed an MoU with Ircon International to join hands for infrastructure projects in India and abroad.
30. Nestle India gets customs duty Nestle appeal of 18.74 Lakh; will seek appropriate legal remedy; no material impact on financials.
31. Rated REDUCE at target price of Rs 2,582 by Prabhudas Lilladher. Adds, the recent spate of announcements by companies like Rallis and Lactose in terms of competitive pricing and sharper market competition should continue to weigh on its margins at least for next quarter.
32. JSW Energy signs 25-year PPA with GUVNL for 192 MW wind-solar hybrid capacity at 3.27/kWh, expected to be commissioned in 24 months.
33. Shares in the National Aluminium Company rose 4.1% as China announced one million village urbanization projects, further fueling optimism in the market.
34. L&T Technology Services reported a 2% increase in net profit at ₹320 crore and reiterates FY25 revenue growth guidance of 8-10%.
Also read: Navratri and Nine Forms of Goddess Durga: A Deeper Insight into the Divine Feminine
Navratri 2024: Know the Nine Days of the Divine Festival
15 New OTT Releases Promise Diverse Content For Viewers
Mahindra Thar Roxx Unleashes New Era of Adventure with Cutting-Edge Features
Celebrate India’s Independence Day with these Inspiring Messages and Quotes
Top 15 Incredibly Beautiful Women from Across the World
Krystyna Pyszkova, Representing The Czech Republic, Crowned Miss World 2024!
Source: Google Google News NSE BSE
News Desk: News Lounge 24×7
Disclaimer: The views and recommendations made above in news headlines are those of individual analysts or broking companies, and not of News Lounge 24×7. We advise investors to check with certified experts before taking any investment decisions.
Discover more from News Lounge 24x7
Subscribe to get the latest posts sent to your email.