Indian market closed lower on Tuesday, snapping its seven-day winning streak amid weak Asian market cues and mixed trends from European stocks. Sensex declined 287.70 points to finish at 59,543.96. During the day, it hit a low of 59,489.02 and a high of 60,081.24. On similar lines, Nifty fell 74.40 points to close at 17,656.35. The equity market remained closed on Wednesday (October 26) on account of Diwali Balipratipada.
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Here’s a look at stocks that are likely to remain in news today.
Earnings today: SBI Cards, Indus Towers, Tata Chemicals, REC, Aditya Birla Sun Life AMC, V-Guard Industries, Balaji Amines, Anupam Rasayan India, Tamilnad Mercantile Bank PNB Housing, Latent View Analytics and CE Infosystems are among the companies that will announce their earnings for September 2022 quarter today.
Hero MotoCorp: The two-wheeler maker announced its plans to enter Philippines for which it has joined hands with Terrafirma Motors Corporation for assembly and distribution of its vehicles. Terrafirma Motors Corporation (TMC) will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in the Philippines.
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Gland Pharma: The pharmaceutical firm logged a 20.14 per cent fall in consolidated net profit at Rs 241.24 crore in Q2, on lower sales and higher expenses. The company had posted a consolidated net profit of Rs 302.08 crore in the same period last fiscal.
Dabur India: The FMCG firm reported a 2.85 per cent fall in its consolidated net profit to Rs 490.86 crore in Q2 due to high inflation impacting consumption. The company had posted a net profit of Rs 505.31 crore in the July-September quarter a year ago.
DLF: The realty major’s rental arm DCCDL has logged a 14 per cent rise in office rental income to Rs 801 crore and 54 per cent rise in revenue from retail properties to Rs 184 crore during the quarter ended September 30. DLF Cyber City Developers (DCCDL) is a joint venture between DLF Ltd and Singapore’s sovereign wealth fund GIC.
Glenmark Pharmaceuticals: The drug maker said the US health regulator has put its manufacturing plant at Baddi under import alert. The drugs produced at the Baddi unit can now be detained without physical examination.
Crompton Greaves Consumer Electricals: The consumer electrical goods firm reported a 17.69 per cent fall in its consolidated net profit to Rs 130.71 crore for the second quarter ended September 30, mainly due to weak consumer demand. The company had posted a net profit of Rs 158.81 crore in the July-September quarter a year ago.
CSB Bank: Nomura Singapore sold 1.52 per cent stake or 26,39,673 shares in the private sector lender at an average price of Rs 232.3 apiece for over Rs 61.31 crore through an open market transaction. Maybank Securities Pte bought the shares at the same price.
Jammu and Kashmir Bank: The PSB lender will put up for sale non-performing assets to the tune of Rs 960 crore, as part of its efforts to improve its balance sheet. The bank expects that the process of sale of these non-performing assets to the National Asset Reconstruction Company (NARCL) will be completed by this month.
Route Mobile: The other telecom service provider said its board has approved providing corporate guarantee in favour of Standard Chartered Bank for a term loan facility proposed to be taken by subsidiary Route Mobile (UK) of up to $15 million. The corporate guarantee will be treated as a contingent liability for the company.
CDSL: The leading depository has reported a 7 per cent fall in its consolidated net profit to Rs 80 crore in Q2. The depository had posted a net profit of Rs 86 crore in the year-ago period.