Stocks to watch, Oct 22: Hyundai Motor, Ola Electric, Union Bank, HFCL

Stocks to Watch, Oct 22: Shares of Hyundai Motor India are set to debut on the stock exchanges on Tuesday. The Rs 27,870-crore initial public offering (IPO) was subscribed 2.37 times on its final day

Stocks to Watch, Tuesday, Oct 22, 2024: Indian benchmarks, Sensex, Nifty are expected to see flat opening on Tuesday, indicated GIFT Nifty. 

The GIFT Nifty futures quoted just two points higher at 24,800 against Nifty50 futures. On Monday, the Nifty50 closed 0.29 or around 72 points lower at 24,781 and the BSE Sensex finished 0.09 per cent or 73 points down at 81,151 level.

Meanwhile, here are some hot stocks to keep tabs on for Tuesday:

Hyundai Motor India: Shares of Hyundai Motor India are set to debut on the stock exchanges on Tuesday. The Rs 27,870-crore initial public offering (IPO) was subscribed 2.37 times on its final day. The bids were led by qualified institutional investors (6.97 times), non-institutional investors (0.6 times), retail investors (0.5 times), and employees (1.74 times).

 

Ola Electric: Ola Electric issued clarifications in response to a show-cause notice from the Central Consumer Protection Authority (CCPA). The company stated that it has resolved 99.1 per cent of the 10,644 complaints received from the CCPA.

Shriram Finance: The Reserve Bank of India has granted approval for Shriram Finance to sell its stake in Shriram Housing to Warburg Pincus affiliate Mango Crest.

Sona BLW Precision Forgings: The company inaugurated a new plant in Haryana dedicated to its driveline business.

Nelco: Intelsat's IS33E satellite experienced a power outage on October 19, disrupting customer traffic. The satellite operator confirmed on October 20 that the satellite will not be recovered.

Eicher Motors: Royal Enfield has expanded its operations into Bangladesh, launching a flagship showroom in Dhaka. The firm introduced the Hunter 350, Meteor 350, Classic 350, and Bullet 350 to the Bangladeshi market.

MAS Financial Services: The company has entered into a strategic co-lending partnership with UCO Bank to provide lending solutions to micro, small, and medium enterprises (MSMEs).

Arkade Developers: The company launched a new residential and commercial project in Bhandup, Mumbai, with an estimated sales value of Rs 760 crore.

Epack Durable: The company has entered into an agreement with Hisense, a global leader in consumer electronics and home appliances, to manufacture air conditioners and home appliances in India for global distribution.

Lemon Tree: Lemon Tree signed a license agreement for a 72-room hotel in Karnataka.

MosChip Technologies: The company has been recognized as an AI/ML design partner under the Renesas RZ partner ecosystem. The company will now deliver intelligent solutions based on the Renesas RZ/V series of MPUs, further strengthening its position in the AI and machine learning domain.

Bajaj Housing Finance: On a consolidated basis, NII grew by 12.99 per cent to Rs 713 crore from Rs 631 crore Y-o-Y. Revenue from operations increased by 26 per cent to Rs 2,410 crore compared to Rs 1,911 crore last year. Consolidated net profit rose by 21 per cent, reaching Rs 546 crore, up from Rs 451 crore Y-o-Y.

Union Bank: Consolidated NII declined by 0.9 per cent Y-o-Y to Rs 9,047 crore from Rs 9,126 crore. However, the consolidated net profit surged by 34 per cent, reaching Rs 4,720 crore from Rs 3,511 crore Y-o-Y. The gross NPA improved to 4.36 per cent from 4.54 per cent (quarter-on-quarter), while net NPA was at 0.98 per cent versus 0.90 per cent.

HFCL: Consolidated revenue declined by 1.62 per cent Y-o-Y to Rs 1,094 crore from Rs 1,112 crore. However, consolidated Ebitda increased by 19.54 per cent to Rs 159 crore from Rs 133 crore Y-o-Y, with the Ebitda margin improving to 14.53 per cent from 11.96 per cent. Consolidated net profit grew by 4.28 per cent to Rs 73 crore from Rs 70 crore Y-o-Y.

Mahindra Logistics: The company saw a consolidated revenue increase of 11.42 per cent Y-o-Y, reaching Rs 1,521 crore compared to Rs 1,365 crore in the same period last year. Consolidated Ebitda grew by 22.22 per cent to Rs 66 crore from Rs 54 crore. The Ebitda margin improved to 4.33 per cent from 3.95 per cent. Consolidated net loss narrowed to Rs 11 crore, down from Rs 16 crore Y-o-Y.

Supreme Petrochem: On a consolidated Y-o-Y basis, revenue rose by 17.76 per cent to Rs 1,505 crore, up from Rs 1,278 crore. Consolidated Ebitda increased by 16.82 per cent to Rs 125 crore from Rs 107 crore. However, the consolidated Ebitda margin saw a slight decline to 8.3 per cent from 8.37 per cent. Net profit grew by 15.38 per cent to Rs 90 crore from Rs 78 crore Y-o-Y.

Authum Investment & Infrastructure: The firm reported its Q2 standalone net profit at Rs 844 crore, up from Rs 788 crore year-on-year (Y-o-Y), but down from Rs 1,093 crore in the previous quarter (Q-o-Q). The company's Q2 revenue stood at Rs 1,091 crore, compared to Rs 973 crore in the same period last year (Y-o-Y).

360 ONE WAM: Consolidated total income for the quarter increased by 43 per cent Y-o-Y to Rs 890 crore, up from Rs 623 crore. Consolidated net profit rose by 32 per cent, reaching Rs 245 crore compared to Rs 186 crore Y-o-Y.

City Union Bank: On a year-on-year (Y-o-Y) basis, the bank reported a consolidated net profit increase of 1.42 per cent to Rs 285 crore in Q2FY25, compared to Rs 281 crore in the same quarter last year. Consolidated Net Interest Income (NII) rose by 8 per cent to Rs 582 crore from Rs 538 crore. Gross Non-Performing Assets (NPA) improved to 3.54 per cent from 3.88 per cent (quarter-on-quarter), while net NPA reduced to 1.62 per cent from 1.87 per cent.

Cyient DLM: The company posted a consolidated revenue increase of 33.4 per cent Y-o-Y, reaching Rs 389.45 crore, up from Rs 291.84 crore. Consolidated Ebitda grew by 34 per cent to Rs 31.63 crore from Rs 23.54 crore Y-o-Y, maintaining an Ebitda margin of 8.1 per cent. Consolidated net profit rose by 5 per cent, reaching Rs 15.45 crore from Rs 14.65 crore Y-o-Y.

Aurum PropTech: It reported a consolidated net loss of Rs 95.5 crore for Q2, compared to a loss of Rs 201 crore in the same period last year (Y-o-Y) and a loss of Rs 100.3 crore in the previous quarter (Q-o-Q). The company's Q2 revenue stood at Rs 63.96 crore, up from Rs 52.77 crore in the corresponding period last year (Y-o-Y). Aurum PropTech posted an Ebitda profit of Rs 10.91 crore for Q2, compared to a loss of Rs 7.6 crore in the previous year (Y-o-Y), with an Ebitda margin of 17.06 per cent.

Balu Forge Industries: The company reported a Y-o-Y consolidated revenue increase of 60.43 per cent, reaching Rs 223 crore from Rs 139 crore. Consolidated Ebitda surged by 116.44 per cent to Rs 65.8 crore from Rs 30.4 crore Y-o-Y, with the consolidated Ebitda margin improving to 29.5 per cent from 21.87 per cent. Consolidated net profit jumped by 108.69 per cent to Rs 48 crore, up from Rs 23 crore Y-o-Y.

Aurionpro Solutions: The company reported its Q2 consolidated net profit at Rs 45.1 crore, compared to Rs 43.4 crore in the previous quarter (Q-o-Q). The company's Q2 revenue stood at Rs 278 crore, up from Rs 261 crore in the prior quarter (Q-o-Q). Q2 Ebitda came in at Rs 49.1 crore, slightly down from Rs 49.8 crore in the previous quarter (Q-o-Q), with an Ebitda margin of 17.65 per cent compared to 19.56 per cent (Q-o-Q).

E2E Networks: The company reported a consolidated net profit of Rs 12.1 crore for Q2, compared to Rs 5.8 crore in the same period last year (Y-o-Y) and Rs 10.1 crore in the previous quarter (Q-o-Q). The company's Q2 revenue reached Rs 47.55 crore, up from Rs 21.6 crore in the corresponding period last year (Y-o-Y). E2E Networks posted an Ebitda of Rs 31.4 crore for Q2, compared to Rs 11.2 crore in the previous year (Y-o-Y), with an Ebitda margin of 66.11 per cent, compared to 51.61 per cent in the same period last year.