Auto stocks in focus on monthly sales

Auto stocks will be in focus as these companies will declare their October monthly sales.

TVS Motor Company and Bajaj Auto have entered into a settlement agreement on 31 October 2019 to amicably settle a decade old dispute relating to alleged infringement of Bajaj's Patent No.195904, defamation suit against the company by TVS Motor and other related proceedings filed against each other, which were pending before the Madras High Court, Bombay High Court, the Intellectual Property Appellate Board (IPAB), Chennai and courts in Sri Lanka and Mexico.

Both, TVS Motor and Bajaj Auto have mutually agreed to withdraw the Pending Proceedings and release each other from all liabilities, claims, demands and actions in respect of the Pending Proceedings. None of them are required to pay any compensation or penalty to the other as part of settlement. There will be no impact on financial position of the Company due to the Settlement Agreement.

Jindal Saw reported 209.78% rise in consolidated net profit to Rs 301.04 crore on 9.53% fall in total income to Rs 2710.97 crore in Q2 September 2019 over Q2 September 2018.

Blue Dart Express reported 35.02% fall in consolidated net profit to Rs 14.64 crore on 0.45% rise in total income to Rs 808.69 crore in Q2 September 2019 over Q2 September 2018.

Laurus Labs reported 248.86% rise in consolidated net profit to Rs 56.55 crore on 19.2% rise in total income to Rs 713.78 crore in Q2 September 2019 over Q2 September 2018.

L G Balakrishnan & Bros reported 23.54% rise in consolidated net profit to Rs 36.47 crore on 7.72% fall in total income to Rs 417.59 crore in Q2 September 2019 over Q2 September 2018.

Yes Bank will announce its Q2 result today, 1 November 2019.

Ahluwalia Contracts (India) has secured new order of Rs 208 crore for construction of NICL Work at Corporate Office Building, Rajarhat, Kolkata, another new order of Rs. 161 crore for Construction of Parivahan Parisar at Phulwarisarif Patna (Bihar) (Engineering Procurement and Construction Basis) and other new orders of Rs 152.71 crore for Construction of Bluegrass Residences - Residential Development for Sagitarius Ecospaces LLP at Kalyani Nagar, Pune.

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