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Stocks in Focus: Ola Electric, Bajaj Housing Finance, Eicher Motors, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 26.50 points higher or 0.11% at 24,806.50 indicating that the domestic benchmark indices are likely to make a positive start on Tuesday. 

On Monday, 21 October, Domestic benchmark indices S&P BSE Sensex slumped 73.48 points or 0.09% to end at 81,151.27 while the Nifty50 traded 72.95 points lower or 0.29% and settled at 24,781.10.

Here are some stocks that are likely to remain in focus on 22 October.

Quarterly Results Today: Indus Towers, Coforge, ICICI Prudential Life Insurance Company, Bajaj Finance, Zomato, One 97 Communications (Paytm), Mahindra & Mahindra Financial Services, Aditya Birla Real Estate, Adani Energy Solutions, IIFL Securities, ICICI Securities, Jubilant Ingrevia, Adani Green Energy, Amber Enterprises India, Chennai Petroleum Corporation, Max Financial Services, Olectra Greentech, Persistent Systems, Ugro Capital, Varun Beverages, Shoppers Stop, SRF, and Zensar Technologies are some of the prominent companies that are set to release their quarterly earnings for July-September. 

Ola Electric: The company has announced that they have issued a clarification letter in response to a show-cause notice from the Central Consumer Protection Authority (CCPA), stating that they have resolved 99.7% of the 10,644 complaints received from CCPA. 

Bajaj Housing Finance: In its quarterly earnings for July-September, the company reported a 21% year-on-year (YoY) increase from Rs 545.6 crore against Rs 451.1 crore in Q2FY24. The revenue from operations of the company increased by 21.15 YoY to Rs 2,410 crore. 

Eicher Motors: The company has expanded their operations into Bangladesh by launching a flagship showroom of Royal Enfield in Dhaka. The company will introduce Meteor 350, Hunter 350, Classic 350, and Bullet 350 to the Bangladesh market. 

Sona BLW Precision Forgings: The company has inaugurated its new plant in Manesar, Haryana, which will help the company meet the growing demand for their driveline products. 

Cyient DLM: The company’s net profit for the quarter ended 30 September stood at Rs 15.4 crore, marking a 5.5% YoY increase from Rs 14.6 crore reported in the same quarter of the previous fiscal year. 

Arkade Developers: The company has announced the launch of a new residential and commercial project in Bhandup, Mumbai that has an estimated sales value of Rs 760 crore. 

Lemon Tree Hotels: The company announced that they have signed a licence agreement for a 72-room hotel in Karnataka. 

Jana Small Finance Bank: The private sector bank’s gross non-performing asset ratio increased to 2.97% for the quarter ended 30 September, up from 2.62% in the June quarter. 

Union Bank of India: The public sector undertaking bank reported a 34.4% YoY increase in net profit to Rs 4,720 crore from Rs 3,511 crore reported in the same quarter of the previous fiscal year. 

Mahindra Logistics: For the second quarter of the current fiscal year, the company reported a net loss of Rs 9.6 crore, which is a decrease from Rs 15.5 crore net loss reported in the same quarter last year.

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