As the stock market opens today, several companies are likely to be in focus for investors and traders. Key stocks to watch include Reliance Industries Ltd (RIL), Bajaj Auto, L&T Technology Services (LTTS), Oberoi Realty, Rail Vikas Nigam Limited (RVNL), and Crisil. Here’s a closer look at these companies and their recent developments.
Reliance Industries Ltd (RIL) Share
Reliance Industries Ltd has made headlines after its board approved a bonus share issue in a 1:1 ratio through majority e-voting. The record date for this significant corporate action is set for October 28, 2024. Additionally, RIL’s board has approved an increase in authorized share capital from ₹15,000 crore to ₹50,000 crore. This move is expected to enhance shareholder value and liquidity in the stock market.
Bajaj Auto Share
Bajaj Auto reported a 31.4% decline in consolidated net profit for Q2 FY25, amounting to ₹1,385.44 crore, primarily due to a one-time deferred tax payment. However, the company saw a revenue increase of 22.2%, reaching ₹13,247.28 crore, driven by strong vehicle sales and recovering exports. The company’s EBITDA also hit a record of ₹2,653 crore, reflecting a year-on-year growth of 24% despite missing consensus estimates for profit and revenue.
L&T Technology Services (LTTS) Share
L&T Technology Services reported a modest 1.3% rise in net profit for Q2, reaching ₹319.6 crore, while revenue climbed by 7.8% to ₹2,572.9 crore. This growth was fueled by strong demand from the European automobile sector. The company aims for an 8-10% revenue growth for FY25 and plans to enhance profit margins from the current level of 15.1%.
Oberoi Realty Share
Oberoi Realty’s board has approved the issuance of non-convertible debentures (NCDs) totaling ₹1,500 crore through private placement. This decision reflects the company’s strategy to strengthen its financial position and fund ongoing projects.
Rail Vikas Nigam Limited (RVNL) Share
State-run RVNL has emerged as the lowest bidder (L1) for a contract worth ₹270 crore from Maharashtra Metro Rail Corporation Ltd to construct ten elevated metro stations as part of the Nagpur Metro Rail Project Phase 2. This project is expected to enhance urban infrastructure and improve public transport facilities.
Crisil Share
Crisil reported a year-on-year increase of 12.9% in net profit for Q3 2024, reaching ₹171.6 crore, compared to ₹152 crore in the same period last year. Revenue from operations also grew by 10.3%, amounting to ₹811.8 crore.
Conclusion
These stocks are poised for attention as they navigate through their respective challenges and opportunities in today’s trading session. Investors should keep an eye on developments surrounding these companies as they may present potential investment opportunities or risks.Disclaimer: This article is intended for informational purposes only and should not be considered as financial advice. Investors are encouraged to conduct their own research or consult with financial advisors before making investment decisions regarding stocks mentioned herein.
