Market Outlook: Stocks To Watch On Friday
Indian markets are expected to be volatile on Friday, driven by various corporate announcements and Q2 earnings updates. Hero MotoCorp Ltd., Vodafone Idea Ltd., Shipping Corporation of India Ltd., and NTPC Green Energy Ltd. are some of the stocks that will catch investors’ attention.
Corporate Announcements After Market Hours
Several notable corporate announcements were made after Thursday’s market hours. Hero MotoCorp has expanded into the UK market through a partnership with MotoGB and launched its Euro 5+ range, led by Hunk 440, expanding its global presence to 51 countries.
Cipla has entered into an agreement with Eli Lilly to distribute Tirzepatide in India under the brand name Yurpeak, used to treat Type-2 diabetes and obesity. The drug will be priced the same as Eli Lilly’s Mounjaro.
UGRO Capital has approved the issuance of 5,000 NCDs worth Rs 50 crore, with an option to retain oversubscription up to Rs 150 crore. Vodafone Idea has invested Rs 26,000 as the first tranche out of the total proposed investment of Rs 1.56 crore in the capital of ABRen SPV 3.
Q2 Earnings Highlights
Colgate Palmolive reported a 6.2% decline in revenue to Rs 1,519.50 crore, with Ebitda down 6% to Rs 465.43 crore. The company’s net profit decreased 17% to Rs 327.50 crore.
PTC India Financial reported an 86.2% increase in net profit to Rs 88.1 crore, with net interest income down 6% to Rs 72.3 crore.
Sagar Cements reported a 26.7% increase in revenue to Rs 602 crore, with Ebitda up to Rs 51.3 crore. The company’s net loss decreased to Rs 42.3 crore.
IPO Updates
Midwest is set to debut on the stock exchange on Friday, with its public issue subscribed 87.89 times on day three. The bids were led by QIBs (139.87 times), NIIs (168.07 times), retail investors (24.26 times), and employee reserved (24.44 times).
Other Stocks To Watch
Other stocks to watch on Friday include Dr Reddys Labs, SBI Life, SBI Cards, Latent view Analytics, Supreme Petrochem, Coforge, Cigniti Tech, and Aditya Birla AMC.
Investors should keep an eye on these stocks and stay updated with the latest market news and trends to make informed investment decisions. For more information on stock market news and Indian markets, visit our website.
