Stocks to Watch: Fusion MicroFinance, Srei, IRCTC, Apollo Tyres, LTI, Paytm

Stocks to Watch Today: Fusion MicroFinance set for its market debut today. Meanwhile, in the F&O segment, BHEL, GNFC, PNB and Sun TV Network are ban period on Tuesday.

Stocks to Watch Today: The key benchmark indices are likely to start trade on Tuesday on a marginally positive note, after both the WPI-based and CPI retail inflation registered a notable decline in October. Meanwhile, global cues are mixed.

At 07:35 AM, the SGX Nifty futures quoted at 18,430, indicating an opening gain of 40-odd points on the Nifty 50 benchmark.

Meanwhile, the following are likely to some action in trades today.

Earnings Watch: PTC India and Rajesh Exports to be in focus owing to the September quarter results. 

Fusion MicroFinance: The stock is likely to debut on the bourses on a tepid note as indicated by the GMP (Grey Market Premium). The company’s IPO had received a lukewarm response and was subscribed 2.95 times, with retail quote seeing only 51 per cent bidding.

Srei Infrastructure Finance: Transactions worth Rs 13,110 crore that were allegedly fraudulent have been flagged in Srei Equipment Finance (SEFL), a subsidiary of Srie Infrastructure Finance, currently undergoing corporate insolvency resolution, by the transaction auditor, BDO India, appointed by the administrator of the company. READ MORE

L&T Infotech, Mindtree: The IT services firms received approval for merger from NCLT. Both Mumbai and Bengaluru Benches of the National Company Law Tribunal (NCLT) have approved, via two separate orders, the scheme of amalgamation and arrangement between the two companies, thus creating India’s sixth largest IT services firm. READ MORE

Biocon: The pharma company posted a 10 per cent dip in net profit for Q2FY23 to Rs 168 crore on account of tax adjustments. Revenue from operations grew by 26 per cent to Rs 2,320 crore led by 34 per cent year on year growth in the biosimilars business. READ MORE

NDTV: The Sebi approved Adani group’s open offer for additional 26 per cent stake in NDTV. Last week, Adani group revised the open offer timeline, setting the date as November 22 to December 5, because of the delay in getting Sebi nod. The open offer price of Rs 294 a share is at a 24 per cent discount to NDTV's closing price of Rs 365.85 apiece on Monday. 

Paytm: The company’s CEO Vijay Shekhar Sharma in a letter to the shareholders said that they were on the path to profitability and free cash flow as the firm scales up its lending business. The value of loans Paytm disbursed in October grew 387 per cent YoY to Rs 3,056 crore. READ MORE

IRCTC: The company posted a strong 42.5 per cent surge in Q2 net profit at Rs 226.03 crore for the quarter ended September 2022 as against Rs 158.57 crore in the corresponding quarter a year ago. Total income soared 97.5 per cent YoY to Rs 831.80 crore.

Apollo Tyres: The company reported a 6.1 per cent growth in Q2FY23 consolidated net profit at Rs 184.45 crore as against Rs 173.82 crore in Q2Fy22. Total income rose 16.8 per cent YoY to Rs 5,962.90 crore.

MTNL:  The state-owned telecom firm reported widening of loss to Rs 737 crore on a standalone basis in the second quarter ended September. The company had registered a loss of Rs 653.21 in the same period a year ago. Total revenue declined 23.5 per cent to Rs 220.21 crore.

McLeod Russel: India’s largest bulk tea producer posted a net profit of Rs 130.76 crore in the September quarter, up 6.6 per cent from the year-ago period, even as revenues were lower by up to 13.9 per cent YoY to Rs 425.06 crore.

SpiceJet: The low-cost airline on Monday reported its highest-ever quarterly loss in Q2FY23 owing to record high fuel prices, limited capacity and rupee depreciation. The airline's consolidated loss widened by 46 per cent to Rs 833.2 crore year-on-year (YoY).

Indiabulls Housing Finance: The private lender’s posted a net profit of Rs 289.4 crore in Q2FY23, up marginally from Rs 286.3 crore in the same quarter of FY22. Consolidated income also was almost flat at Rs 2,229.7 crore.

Stocks in F&O ban: BHEL, GNFC, PNB and Sun TV Network are the stocks in F&O ban period on Tuesday.