As the Indian stock market opens on November 18, 2024, investors are bracing for a potentially lower start amid mixed global cues. The GIFT Nifty futures indicate a decline of 96.2 points, trading at 23,505.5. Following a challenging previous session where the BSE Sensex and NSE Nifty50 closed lower, several stocks are expected to be in focus today.
Current Market Overview
In the last trading session, the BSE Sensex fell by 110.64 points (0.14%) to settle at 77,580.31, while the NSE Nifty50 ended down by 26.35 points (0.11%) at 23,532.70. The market sentiment remains cautious as investors digest recent earnings reports and global economic indicators.
Key Stocks to Watch Today
Investors should keep an eye on the following stocks as they are expected to make headlines in today’s trading session:
Hero MotoCorp
Hero MotoCorp reported a 5.6% increase in net profit for Q2FY25, reaching ₹1,063 crore, alongside a 10% growth in consolidated revenues, which totaled ₹10,482.93 crore. As the largest two-wheeler manufacturer in India, its strong performance could attract investor interest.
Glenmark Pharma
Glenmark Pharma has announced a consolidated profit of ₹354 crore for the quarter ending September 30, a significant turnaround from a loss of ₹81.95 crore during the same period last year. This positive shift may position Glenmark favorably among investors.
Sobha Limited
Sobha Limited has posted a remarkable 75% increase in consolidated net profit for the September quarter, amounting to ₹26.08 crore, compared to ₹14.94 crore a year ago. The realty firm’s strong performance could enhance its appeal in today’s market.
Muthoot Finance
Muthoot Finance reported a 21% year-on-year increase in consolidated net profit for Q2 FY25, totaling ₹1,321 crore, up from ₹1,095 crore in Q2 FY24. This growth reinforces Muthoot’s position as a key player in the gold loan sector.
Indraprastha Gas and Adani Total Gas
City gas companies like Indraprastha Gas and Adani Total Gas are considering an increase in compressed natural gas (CNG) prices following cuts in cheaper input gas supplies for the second time this month. Investors will be watching how these developments impact pricing strategies.
Additional Notable Mentions
- E.I.D Parry: The sugar manufacturer reported a consolidated profit after tax of ₹591.66 crore, down from ₹781.85 crore last year.
- Reliance Industries (RIL): RIL has completed the merger of its media assets with Walt Disney’s India operations, forming a joint venture valued at approximately ₹70,352 crore.
- Bank of Baroda: The bank aims to attract high-net-worth individuals (HNIs) through targeted branch strategies as part of its wealth management initiative.
Conclusion
As traders prepare for today’s session, monitoring these stocks will be crucial amid ongoing market volatility and mixed global cues. With earnings reports influencing investor sentiment and potential price adjustments on the horizon for gas companies, today’s trading could present both challenges and opportunities.
Disclaimer: This article is intended for informational purposes only and should not be construed as investment advice. Readers are encouraged to conduct their own research or consult with certified financial advisors before making any investment decisions based on market trends or stock performances.
