Stocks To Watch: Bajaj Auto, LTTS, CRISIL, Bikaji Foods, PFC

Stock Market Today: Bikaji Foods has announced a strategic investment of Rs 131.01 crore for a 53.02 per cent stake in Hazelnut Factory Food Products

Stocks to Watch, Thursday, October 17, 2024: Markets in India were likely to start on a muted note on Thursday, as indicated by GIFT Nifty index at 7:15 AM, when they were trading around 20 points behind Nifty futures' last close.

Meanwhile, here are a few stocks likely to be in focus on Thursday:

Bajaj Auto: The company reported a 31.4 per cent decline in consolidated net profit to Rs 1,385.44 crore for Q2 FY25, impacted by a one-time deferred tax payment. However, revenue from operations grew by 22.2 per cent to Rs 13,247.28 crore, driven by robust vehicle sales and recovering exports. The company's Ebitda reached a record Rs 2,653 crore, reflecting a 24 per cent year-on-year growth. THe company missed consensus estimates for profit and revenue for the quarter.

Reliance Industries: The company has fixed Monday, October 28, 2024, as the record date to determine the list of shareholders eligible for the issue of 1:1 bonus shares. RIL, in an exchange filing, said that it has received shareholders' approval for increasing its authorised share capital following the bonus issue.

L&T Technology Services: LTTS reported a 1.3 per cent increase in net profit to Rs 319.6 crore for Q2, with revenue climbing 7.8 per cent to Rs 2,572.9 crore, boosted by strong demand from the European automobile sector. The company aims for 8-10 per cent revenue growth in FY25 and plans to enhance profit margins from the current 15.1 per cent. 

CRISIL: The company saw a 12.86 per cent year-on-year rise in net profit to Rs 171.55 crore for Q3 2024. Its total income increased by 7.9 per cent to Rs 833.2 crore. The board declared an interim dividend of Rs 15 per share, compared to Rs 11 in the same quarter last year.

Bikaji Foods International: The company has announced a strategic investment of Rs 131.01 crore for a 53.02 per cent stake in Hazelnut Factory Food Products, a Lucknow-based café and artisanal sweets brand. This acquisition aims to enhance Bikaji's product portfolio and establish a House of Brands, positioning the company as a key player in the quick service restaurant (QSR) segment.

Q2 Results today: Infosys, Wipro, Axis Bank, Nestle India, LTIMindtree, and Tata Chemicals, are among the 18 companies scheduled to report their second quarter results today.

Bombay Stock Exchange: BSE shares fell over 5 per cent after Jefferies downgraded its rating to 'underperform' amid concerns about new regulatory norms affecting futures and options trading. Jefferies has set a price target of Rs 3,500 per share, down from the current price of Rs 4,495.

Reliance Industries: RIL is actively filing patents in AI, 5G, and 6G technologies, with over 3,000 patents submitted. aims to solidify its position in the global tech landscape.

Power Finance Corporation: PFC's subsidiary, PFC Infra Finance IFSC, has received approval to operate as a finance company in Gujarat's GIFT City, focusing on power and infrastructure sector lending. This move is expected to enhance PFC's global presence and contribute to India's financial hub ambitions.

Himadri Specialty Chemical: The company reported a 33 per cent year-on-year increase in net profit to Rs 134 crore for Q2 FY25, fueled by higher margins. The company's revenue grew by 13 per cent to Rs 1,135 crore, and it highlighted successful export milestones.

Vodafone Idea: Vi is set to deploy 5G gear with Samsung in six to seven telecom circles while also enhancing its 4G capabilities. The company aims to replace aging Chinese equipment and increase 4G population coverage from 77 per cent to 90 per cent in the next year.

Titagarh Rail Systems: Morgan Stanley has purchased over Rs 85 crore worth of shares in Titagarh Rail Systems, acquiring a 0.57 per cent stake. Conversely, Capital Group has sold more than 7.90 lakh shares in the same company. 

Container Corporation of India: Concor’s stock has seen a 15 per cent decline since August due to weak demand and increased competition. Analysts are lowering their volume growth estimates for FY25, citing challenges in the exim segment and government directives affecting handling charges.

Bharti Airtel: Nokia is in talks with Bharti Airtel for a potential multi-billion dollar contract for 5G telecom equipment. 

Jet Airways: The Supreme Court is set to deliver its verdict on the fate of Jet Airways, following hearings regarding its potential liquidation. Lenders, led by State Bank of India (SBI), are advocating for liquidation, while the Jalan Kalrock Consortium (JKC), the successful bidder, is fighting to implement their resolution plan approved by the NCLAT.

BSNL: Viasat has demonstrated direct-to-device satellite connectivity in India in collaboration with BSNL, showcasing two-way messaging services. This technology could enhance connectivity for millions lacking reliable terrestrial options, with potential applications across various sectors.