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Stocks in Focus: IEX, Tata Motors, Adani Enterprises and Others

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The GIFT Nifty futures were trading in the red before the market’s opening on Friday. Indices are expected to open on a similar flat-to-negative note.

India’s benchmark stock indices advanced through Thursday after the U.S. Federal Reserve decided to hold interest rates on Wednesday. The indices snapped two days of losses, as the realty and metal sectors were the top gainers.

Here are some stocks likely to be in focus on November 3:

Tata Motors: Tata Motors posted a consolidated net profit of Rs 3,764 crore for Q2FY24 over a net loss of Rs 944.6 crore in the same period a year ago. The company’s revenues from operations rose 32% YoY to more than Rs 1.05 trillion. 

Container Corporation of India: The logistics solution provider announced better Q2 numbers due to strong operational performance. Its consolidated net profit jumped 22% YoY to Rs 481.76 crore in Q2FY24. Revenue rose 10.5% YoY to Rs 2,195 crore.

Adani Enterprises: Adani Enterprises (AEL) on Thursday recorded its second-quarter profit for the financial year 2023-24 at Rs 227.82 crore, down 50.6% compared to Rs 460.94 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 22,517.33 crore, down 41% as against Rs 38,175.23 crore during the same period last year. The company’s EBITDA stood at Rs 2,430 crore, up 30% on-year, because of strong incubating businesses.

Gujarat Gas: The CGD posted a 26% drop in Q2 profit to Rs 298 crore from Rs 404 crore a year earlier. Revenue fell over 2% to Rs 3,991 crore. The gas transmission and marketing company reported good September quarter results, outperforming other city gas distribution companies. The company, in contrast to other players, has shown growth, with margins expanding to 13% in the reporting quarter.

Indian Energy Exchange (IEX): The company operating as a power exchange posted over a 21% YoY rise in consolidated net profit to Rs 86.46 crore in the September quarter, up from Rs 71.2 crore in the same quarter last year. Revenue rose 14% YoY to Rs 109 crore.

Companies announcing their Quarterly Results today: Aditya Birla Capital, Aeroflex Industries, Bharat Dynamics, Chambal Fertilisers, Crompton Greaves Consumer Electrical, EIH, Escorts Kubota, GIC Housing Finance, Godfrey Phillips India, Godrej Agrovet, Indigo Paints, InterGlobe Aviation, JSW Infrastructure, MRF, MSTC, Reliance Infra, Shipping Corp, Titan Company, UCO Bank, Zomato, and others.

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