Stocks To Watch On 18 October: Indian equity benchmark indices rebounded on Tuesday after three days of decline amid positivity in global markets, buying in HDFC Bank after its quarterly earnings, and easing concerns over Israel-Hamas conflict.
“All eyes will be on Federal Reserve Chair Jerome Powell who is also scheduled to speak on Thursday (October 19) for further insights into the central bank's next steps and guidance on US interest rate policies. Technically, while the market will waver and trade choppy, the biggest support for Nifty is placed at 19509 mark while confirmation of strength only above the 19887 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“Better than expected results of HDFC Bank lifted the overall investor sentiments. Power stocks (up 0.9%) were in focus today as Coal India’s supply to power plants rose 6% in October so far. Even oil & gas companies gained 0.7% on the back of 10% MoM jump in diesel sales in the first half of October. Overall, given the resilient domestic economy and strong earnings outlook, the positive trend remains intact. Lot of stock-specific action is likely to be seen as we progress into the results season,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Top 5 Stocks To Watch On October 18:
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The non-banking financial company (NBFC) has reported a 28 per cent year-on-year (YoY) jump in profit after tax (PAT) at Rs 3,551 crore for the July-September quarter FY24. Net interest income (NII) rose 26 per cent to Rs 8,845 crore as the number of new loans booked increased by 26 per cent to 8.53 million. The assets under management (AUM) rose by 33 per cent to Rs 2.9 lakh crore as of September 2023.
The company announced collaboration with Petromin Corporation, Saudi Arabia, a part of the AI-Dabbagh group, who will be setting up 1,000 Petromin Express Stations (quick service vehicle care) at HPCL retail outlets across India in 5 years. The first 16 Petromin express stations in Bengaluru and Chennai were inaugurated on October 16.
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 12.19 crore on ICICI Bank for non compliance of sub-section (1) of Section 20 of the Banking Regulation Act.
The technology services company reported 5.9 per cent quarter-on-quarter growth in net profit at Rs 200 crore for second quarter of FY24. The revenue surged 3.7 per cent to Rs 881.7 crore during the reported quarter. The transportation segment grew 7.1 per cent QoQ, on the back of large deals and strong traction in software-defined vehicle (SDV) engagements. The healthcare segment grew 3.6 per cent sequentially.
The parent company of retail chain D-Mart has received a notice for tax demand and penalty of Rs 3.9 lakh from the Superintendent of Central Tax (GST), Kakinada, Andhra Pradesh.