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Stocks in Focus: Zomato, Tata Motors, United Breweries and Others

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

Domestic equity indices, NSE Nifty 50 and S&P BSE Sensex ended lower on Thursday, as the crisis in the Middle East aggravates. Nifty shed 0.24% or 46.40 points to settle at 19,624.70, while the BSE Sensex fell 247.78 points or 0.37% to 65,629.24.

Here are some stocks to watch on October 19.

Cyient: The technology solutions company on Thursday posted its second-quarter profit at Rs 183.6 crore, up 132.1% from Rs 79.1 crore during the corresponding quarter of FY23. However, its total operating income grew 27.4% to 1,778.50 crore during the same period. 

Tata Motors: The Tata Group company has inked agreements to acquire a 26.79% stake in digital logistics solutions firm Freight Commerce Solutions Pvt Ltd (Freight Tiger) for Rs 150 crore through equity shares and compulsory convertible preference shares 

Zomato: SoftBank’s venture capital fund SVF Growth, Singapore, is likely to divest a 1.1% stake or 9,35,69,368 equity shares in Zomato at Rs 111.65 per share, for a total of Rs 1,024 crore. As of September 30, 2023, the fund held a 2.17% stake in the company.

United Breweries: The beverage company posted a 20% year-on-year decline in net consolidated profit at Rs 107.17 crore for July to September, while total revenue increased by 14% to Rs 4,204.95 crore.

Companies announcing their Quarterly Results today: Atul Auto, Butterfly Gandhimathi, Central Bank of India, Century Textiles, CG Power & Industrial Solutions, CreditAccess Grameen, CSB Bank, Elecon Engineering, Glenmark Life Sciences, Goa Carbon, Hindustan Zinc, ICRA, J&K Bank, JSW Energy, JSW Steel, Just Dial, Kajaria Ceramics, L&T Finance Holdings, Laurus Labs, Paytm, Poonawalla Fincorp, Sasken Technologies, Sunteck Realty, and Tejas Networks among others.

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