Stocks In Focus on October 28: Among the stocks that will be in focus today are Maruti Suzuki India Ltd, Bandhan Bank Ltd, Tata Power Company Limited and Dr Reddy’s Laboratories Ltd.
Stocks In Focus on October 28: Stock markets are likely to open in green on the week’s last trading day amid mixed global cues. The SGX Nifty – an early indicator of sentiment on the NSE Nifty50 – was up by 61.5 points, or 0.35 per cent. The benchmark 30-share BSE Sensex and the broader 50-share NSE Nifty50 may have a positive start amid speculation among investors that major central banks are considering slowing their aggressive interest hikes. However, Hang Seng index in Hong Kong, Japan’s Nikkei 225 and South Korea’s Kospi were slightly lower. Overnight in the United States, the Dow Jones Industrial Average rose 0.6 per cent, the S&P 500 closed 0.6 per cent lower, and the Nasdaq Composite shed 1.6 per cent.
As the earning season progress, several companies are scheduled to announce their second-quarter earnings today. Among the stocks that will be in focus today are Maruti Suzuki India Ltd, Bandhan Bank Ltd, Tata Power Company Limited and Dr Reddy’s Laboratories Ltd.
Maruti: Maruti Suzuki India Ltd, India’s largest car manufacturer, is set to announce its second-quarter results today. Brokerage firm Motilal Oswal Financial Services expects a YoY growth in Q2 profit of around 297 per cent. Kotak Institutional Equities expects it to jump 355 per cent. According to Zee Business analyst Kushal Gupta, the Q2 revenue is expected to grow to Rs 29,500 crore from Rs 20,539 an year ago. This will be a jump of around 43 per cent.
Tata Power: Tata Power Company Limited is a wholly-owned subsidiary of Tata Power is based in Mumbai, Maharashtra. The scrip closed at Rs 220.65 on Thursday with a gain of 2.83 per cent. Brokerage firm Axis Securities has given a ‘Buy’ call with a target price of Rs 235.
Read More: Stocks to Watch Today: Maruti Suzuki, Indus Towers, SBI Cards, IDBI Bank, and Others
Bandhan Bank: Bandhan Bank has reported a 22 per cent jump in loans and advances on a year-on-year (YoY) basis. The private sector lender’s loans and advances have jumped to Rs 99,374 crore at the end of September quarter 2022 as against Rs 81,661 crore in the year-ago period.
Dr Reddy: Dr Reddy’s Laboratories Ltd will announce its second-quarter results today. Several brokerage firms expect a drop in net profit of the company. It is important to note that the company registered a high growth of 29 per cent in the same quarter last year.
