Stocks To Watch On 27 October: Axis Bank, Colgate, Vodafone Idea, Others In News

The BSE Sensex slumped 900.91 points or 1.41 per cent to settle below the 64,000 mark at 63,148.15. The NSE Nifty tanked 264.90 points or 1.39 per cent to 18,857.25.
Stocks To Watch on 27 October
Stocks To Watch on 27 October

Falling for sixth straight session, equity benchmark indices Sensex and Nifty crashed over 1 per cent due to a broad-based selloff amid heightened tension in Middle East. In addition to weak cues from global markets, deep losses in auto, financial and energy stocks, and fresh selling by fresh investors added to the market woes.

The BSE Sensex slumped 900.91 points or 1.41 per cent to settle below the 64,000 mark at 63,148.15. The NSE Nifty tanked 264.90 points or 1.39 per cent to 18,857.25.

“In the backdrop of weak global cues, investors shunned local equities at will on the monthly F&O expiry day with benchmark Nifty closing below the crucial 19k mark amid sell-off in frontline banking, automobile and IT stocks. Investors are worried about the simmering West Asia conflict, economic uncertainty and rate hike woes, and hence maintained their bearish stance for the sixth straight session,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.

“Technically, a bearish candle on daily charts and weak intraday formation is indicating further weakness from the current levels. As long as the index is trading below 19000, the weak sentiment is likely to continue till 18800-18725 levels. On the flip side, one relief rally is possible only after the dismissal of 19000 and above the same, the index could move up till 19100-19150,” he added.

Top Stocks To Watch On October 27:

Colgate Palmolive

The oral care company reported 22.3 per cent year-on-year growth in profit at Rs 340 crore for the quarter ended September FY24, on the back of strong and better-than-expected EBITDA margins driven by pricing and efficiencies. Revenue from operations jumped 6 per cent YoY to Rs 1,471 crore. The board has declared the first interim dividend of Rs 22 per share for current fiscal.

Axis Bank

The board of directors has approved the appointment of Munish Sharda as a whole-time director, designated as Executive Director of Axis Bank, for three years, with effect from November 1. However, the appointment is subject to the approval of the shareholders of the bank and the RBI. Rakesh Makhija has ceased to be the chairman and board member of the bank, with effect from October 26, on completion of his tenure.

Vodafone Idea

India’s third largest telecom company reported marginal 0.57 per cent growth in revenue at Rs 10,716.3 crore from Rs 10,655.5 crore in April-March quarter. EBITDA rose 3.02 per cent to Rs 4,282.8 crore in second quarter from Rs 4,157 crore in previous quarter. EBITDA margin widened to 39.96 per cent from 39.01 per cent. Net loss increased to Rs 8,737.9 crore in September quarter from Rs 7,840 crore.

Oberoi Realty

The Mumbai-based real estate form has divested its entire shareholding in a joint venture with Sangam City Township for Rs 3.6 crore. The company owned a 31.67 per cent stake in the joint venture.

Railtel Corporation of India

The state-run railway company has recorded profit of Rs 68.15 crore for the September quarter, increasing 23.4 per cent over a year-ago period. The EBITDA margin contracted 420 bps. Revenue from operations rose 40 per cent YoY to Rs 599.2 crore for the quarter.

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