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Stocks in Focus: ZEEL, Ashok Leyland, Tata Motors 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 negative note.

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex ended lower on Thursday after a volatile session as real estate and auto sectors advanced. Nifty shed 0.25% or 48.2 points to close at 19,395.3, while Sensex settled at 64,832.2 after a 0.22% or 143.41 points fall.

Here are some stocks to look out for on November 10.

Tata Motors: Moody’s Investors Service has upgraded the company’s corporate family rating (CFR) from ‘B1’ to ‘Ba3’, reflecting continued improvement in the company’s credit profile. The ratings agency also upgraded Jaguar Land Rover Automotive CFR to ‘Ba3’ from ‘B1’. Moody’s also upgraded the company’s senior unsecured instrument ratings from ‘B1’ and ‘Ba3’ and has maintained a positive outlook on all ratings.

Ashok Leyland: The board of the country’s second-largest Medium and Heavy Commercial Vehicles player approved an investment of Rs 1,200 crore in Switch Mobility as equity through its holding company Optare PLC UK. The funds will be utilised for capital expenditure, research and development, and meeting operational requirements in the UK and India. 

ICICI Bank: The Reserve Bank of India (RBI) has approved the bank to make ICICI Securities a wholly owned subsidiary, subject to certain conditions. The approval came for the proposed delisting of equity shares of ICICI Securities under a scheme of arrangement. 

Zee Entertainment Enterprises Ltd (ZEEL): The company reported an 8.9% year-on-year (YoY) increase in net profit to Rs 122.96 crore in the quarter ended September 2023 when compared with Rs 112.89 crore in Q2FY23. Further, ZEEL recognised the value of the merger with Sony India and is committed to ensuring all parts of the scheme are addressed.

Companies announcing their Quarterly Results today: 3M India, Apollo Micro Systems, Biocon, Coal India, Edelweiss Financial Services, Eicher Motors, Fortis Healthcare, Glenmark Pharmaceuticals, Hindalco Industries, Hindustan Aeronautics, Hindustan Copper, Hindustan Oil Exploration, Housing & Urban Development Corp (HUDCO), Ipca Laboratories, Kothari Products, Life Insurance Corporation of India (LIC), Mahindra & Mahindra, MTNL, Oil and Natural Gas Corp (ONGC), PTC India, Shyam Metalics and Energy, Steel Authority of India (SAIL), Sun TV Network, Sundaram Brakes, Swan Energy, Tata Chemicals, Timken India, TNPL and Zuari Industries among others.

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