These stocks are likely to be in focus on October 19
The cues in the global markets led to a positive start for benchmark indices which further strengthened with the surge in majority indices across sectors like FMCG, auto, capital goods, power, PSU Bank and realty. On a domestic basis, the reduction of crude prices and optimistic prospects to Q2 corporate earnings are the main drivers.
At close, Sensex was up 549.62 points or 0.94% at 58,960.60 and the Nifty was up 175.20 points or 1.01% at 17,487. SBI, Adani Ports, Eicher Motors, Nestle India and SBI Life Insurance were among the top Nifty gainers. NTPC, HDFC, Bajaj Auto, Tech Mahindra and Britannia Industries were the top losers.
Keep an eye on these stocks for Wednesday’s trading session –
Praj Industries – The company reported its quarterly performance for the quarter ended Q2FY23. Net profit of Praj Industries improved 140.27% to Rs 64.08 crore as against Rs 26.67 crore during the previous quarter ended September 2021. On the other hand, sales rose 71.67% to Rs 794.24 crore compared to Rs 462.65 crore during the previous quarter ended September 2021. The shares of Praj Industries have closed the trading session 1.47 per cent up and are likely to be eyed for upcoming trading sessions.
Polycab India – The shares of Polycab India jumped beyond 5% towards the end of Tuesday’s trading session. Post reporting the quarterly results for Q2FY23, the shares gained momentum. Net profit stood at Rs 268 crore as compared to Rs 195.2 crore for Q2FY21. Revenue zoomed 10.8% to reach Rs 3,3323 crore from Rs 3,006.5 crore on a YoY5 basis. EBITDA improved 46 per cent whereas EBITDA margin surged to 12.8% from 9.7% on a YoY basis.
Suzlon Energy – The company has announced a new order win for the development of a 48.3 MW wind power project for Adani Green Energy. Suzlon will install 23 units of their wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each. The share of Suzlon ended the trading session 3.89% up.
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