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Stocks in Focus: ITD Cementation, IDFC First Bank, BPCL, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 61 points lower or 0.25% at 24,149, indicating that the domestic benchmark indices are likely to make a negative start on Monday. 

On Friday, 25 October, Domestic benchmark indices S&P BSE Sensex slumped 662.87 points or 0.83% to end at 79,402.29 while the Nifty50 traded 218.60 points lower or 0.90% and settled at 24,180.80.

Here are some stocks that are likely to remain in focus on 28 October.

Quarterly Results Today: Punjab National Bank, Aditya Birla Sun Life AMC, Ambuja Cements, Bharti Airtel, Sun Pharmaceutical, BHEL, Adani Power, Arvind, Computer Age Management Services, CarTrade Tech, Ideaforge Technology, Indraprastha Gas, Indegene, Dalmia Bharat Sugar, Federal Bank, Firstsource Solutions, Indian Bank, Indian Oil Corporation, JSW Infrastructure, Northern Arc Capital, Paras Defence, KFin Technologies, Kalpataru Projects International, LIC Housing Finance, RailTel Corporation of India, and Tata Technologies are some of the prominent companies that are set to release their quarterly earnings for July-September. 

ITD Cementation: The promoter of the company, Italian-Thai Development Public Company has signed a Share Purchase Agreement with Renew Exim DMCC to divest 46.64% stake at an average price of Rs 400 per share. 

IDFC First Bank: The company reported a net profit of Rs 201 crore for the September quarter, marking a 73% year-on-year decrease from Rs 751 crore. Whereas, the net interest income of the company grew by 21% YoY to Rs 4,788 crore. 

ICICI Bank: In its quarterly earnings for July-September, the company reported a 14.5% year-on-year (YoY) increase in net profit to Rs 11,745.9 crore from Rs 10,261  crore reported in the same quarter of the previous fiscal year. 

BPCL: The Board of Directors of the company have approved a Joint Venture between the company and Oil India for developing a city gas distribution project in Arunachal Pradesh. In the JV entity, the company  will hold a 50% stake whereas Oil India will hold 50% stake. 

Avenue Supermarts: The company has finalised acquiring a 26% stake in FP Ampere Energy, which is a wholly owned subsidiary of Fourth Partner Energy. The acquisition is for a total consideration of Rs 2 crore. 

CDSL: The company reported a 48.8% YoY increase in net profit to Rs 162 crore for the second quarter ended 30 September of the current fiscal year. 

Axis Bank: The company and its subsidiaries, Axis Securities and Axis Capital have received a show cause notice from the Securities Exchange Board of India (SEBI), over transactions involved in the share purchase in Max Life Insurance Company. 

Hindustan Zinc: The company is planning to invest around $2 billion to increase its production capacity by two fold to 2 million tonnes over the next few years. 

NMDC: Centre is looking to merge Kudremukh Iron Ore Company (KIOCL) with the company that would enhance operational efficiencies for KIOCL, moreover, as they are facing challenges in resuming mining at Devadaro.

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