Stocks to Watch today: Marico, OMCs, Sheela Foam, Suryoday SFB, defence

Stocks to Watch on Thursday, October 5, 2023: The government, on Wednesday, released the fifth Positive Indigenisation List (PIL) of 98 items which will be procured by the three armed services

Stocks to Watch on Thursday, October 5, 2023: Equities are eyeing some stability on Thursday, following a positive session overnight in the US. At 7:45 AM, Gift Nifty quoted at 19,940, up 21 points.

Globally, Asia-Pacific markets were ruling higher after US Treasury yields eased from 16-year highs following much weaker-than-expected jobs data. Japan's Nikkei was up 1 per cent, South Korea's Kospi gained 0.7 per cent, and Australia's ASX and Hong Kong's Hang Seng added up to 0.45 per cent.

Overnight, the Dow Jones Industrial Average closed 0.39 per cent higher, the S&P 500 added 0.81 per cent, and the Nasdaq Composite gained 1.35 per cent.

Here's a list of stocks to watch today:

Marico: Rising food prices and below-normal rainfall distribution in some regions seemed to impede the anticipated recovery in rural demand in Q2-FY24. Consumption trends, particularly in rural areas, however, are expected to improve in H2, the company said in its quarterly business update. Domestic volumes grew in low-single digits on a year-on-year basis in Q2, while International business delivered double-digit constant currency growth.

Defence stocks: The government, on Wednesday, released the fifth Positive Indigenisation List (PIL) of 98 items which will be procured by the three armed services from indigenous suppliers in a staggered manner. Check list of items here

Bajaj Finance: The Board will meet today to consider fund raise. 

Vedanta: Vedanta Resources Ltd.'s talks with lenders for a $1 billion private credit loan have been complicated by its plan to separate its Indian subsidiary into six units, Bloomberg reported.

Oil-linked stocks: Oil exploration linked stocks could see some pressure, while oil marketing companies, paints, tyres, and aviation stocks may see gains on Thursday as Brent crude oil has slipped to $86 per barrel.

Jubilant FoodWorks: The company clarified that it has not reduced the prices of large pizzas. 

Hero MotoCorp: Hero MotoCorp has received 13,688 bookings for its newly launched flagship motorcycle, Karizma XMR. Customer deliveries will begin in the festive period this month.

Sheela Foam: The company has received a show cause-cum-demand notice from the GST Intelligence department, Greater Noida, alleging a tax demand of Rs 20.26 crore, in addition wIth an equivalent penalty of Rs 20.26 crore. The company will be filing appropriate responses.

Maruti Suzuki: A Show Cause Notice (SCN) has been issued by Gujarat GST Department for the period July, 2017 to March, 2018, demanding Rs 1.78 crore.

RBL Bank: The lender's total deposits grew 13 per cent YoY/5 per cent QoQ to Rs 89,774 crore at the end of Q2-FY24. Gross advances, meanwhile, were up 21 per cent YoY/5 per cent QoQ to Rs 78,186 crore.

Strides Pharma: Its subsidiary Strides Pharma Global Pte Ltd has received approval from the United States Food and Drug Administration for efavirenz, emtricitabine and tenofovir disoproxil fumurate tablets.

L&T Finance Holdings: Retail disbursements for Q2-FY24 is estimated at Rs 13,490 crore, clocking a growth of 32 per cent YoY basis. 

Punjab National Bank: Total deposits for the bank increased 9.7 per cent YoY in Q2-FY24 to Rs 13.08 trillion. Domestic and global advances, too, improved around 14 per cent each YoY. 

JM Financial: CFO Manish Sheth stepped down with effect from September 30, 2023.

Suryoday SFB: Its gross advances increased 29 per cent YoY to Rs 6,921 crore in Q2-FY24, while deposits rose 52 per cent YoY to Rs 6,388 crore. 

Music Broadcast: The company has been served a Suit, filed by PPL before the Delhi High Court, seeking injunction restraining the company from broadcasting its sound recordings.