Stocks to Watch: Tech M, Adani Ports, Hero Moto, Voltas, Eicher Motors, RIL

The Sensex and Nifty indices are heading for a flat start on Wednesday amid tepid global cues ahead of the US Fed policy outcome later today.

At 07:30 am, the SGX Nifty futures quoted at 18,230, indicating an opening gain of 20-odd points on the Nifty index.

In the US, the Dow fell 0.24 per cent, the S&P 500 slid 0.41 per cent and the Nasdaq slipped 0.89 per cent.

Among Asian indices, Nikkei was down 0.2 per cent and Kospi up 0.25 per cent.

That said, here are some stocks to watch out in trade today:

Q2 earnings watch: M&M Financial Services, Adani Transmission, Dalmia Bharat, EIH, GATI, Gravita India, JK Paper, Kajaria Ceramics will release their q2 results today.

Reliance, ONGC, Refiners: The government has reduced the windfall tax on crude oil to Rs 9,500 a tonne from Rs 11,000 while raising the special additional excise duty on the export of aviation turbine fuel from Rs 3.5 a litre to Rs 5 a litre. The special additional excise duty on export of diesel has also been increased from Rs 12 a litre to Rs 13 a litre.

Adani Ports: Adani Ports and Special Economic Zone, India’s largest private operator of ports, reported a 69% surge in quarterly profit on Tuesday, driven by strong cargo volumes. The company’s consolidated profit for the quarter-ended Sept. 30 rose to 16.77 billion Indian rupees ($203 million). Read more

Tech Mahindra: The company’s net profit for Q2 FY23 was down 4 per cent at Rs 1,285 crore due to supply-side pressure. But profits grew 13.6 per cent on a quarter-on-quarter basis. Revenue for the quarter at Rs 13,129 crore was up 20.7 per cent YoY. Read here

LIC Housing Finance: The company’s net profit rose by 23 per cent year on year (YoY) to Rs 304.97 crore in the second quarter ended September 2022, predominantly due to a decline in provisions. It had posted a net profit of Rs 247.86 crore in Q2FY22. Read more

TVS Motor Company: The company registered a growth of 2 per cent with sales increasing from 355,033 units in October 2021 to 360,288 units in October 2022. Read here

Cholamandalam Investment and Finance Company: The company has posted a 7 per cent dip in net profit during the second quarter of the financial year 2022-23 to Rs 563 crore, as compared to Rs 606 crore during the July to September quarter of the previous financial year. Read more

Maruti Suzuki India: The company said it produced 1.56 lakh vehicles in October 2022, an increase of 15.8 per cent compared to 1.34 lakh units produced in the same month last year. Production volume in October 2021 was adversely impacted due to a sizeable shortage of electronic components, it said.

Eicher Motors: The company sold 82,235 units of Royal Enfield in October 2022, up 86 per cent compared to 44,133 units sold in the same month last year. International business sold 5,707 units of Royal Enfield, up 62 per cent YoY.

Grasim Industries: The company’s board has approved raising up to Rs 1,000 cr through NCDs.

Hero MotoCorp: The company’s total sales in October fell 17 per cent on a YoY basis. Exports declined 41.8 per cent to 11,757 units vs 20,191 units a year ago.

Voltas: The company posted a consolidated loss of Rs 6 crore for Q2FY23 as against a profit of Rs 104 crore last year, impacted by a provision made on an overseas project. Revenue rose 5.5 per cent to Rs 1,833 crore from a year ago. .

NCC: The company received two new orders worth Rs 1,056 crore in October.

Kansai Nerolac Paints: The company posted a 27 per cent year-on-year increase in consolidated profit at Rs 111.2 crore for Q2FY23, supported by higher operating income. Revenue from operations grew 19 per cent YoY to Rs 1,931 crore for the quarter.

Stocks in F&O ban: PNB