It’s an action-packed morning on D-street on October 22. Hyundai Motor India will be listed on the bourses on October 22. Also, investors will assess the first quarterly results of Bajaj Housing Finance after it is listed last month. That apart Waaree Energies IPO continues to garner investor interest.
The Hyundai IPO concluded with the issue being subscribed 2.37 times. The QIB section saw maximum subscriptions while the retail segment seemed a bit apprehensive about the lack of fresh issuance.
Meanwhile, Indian markets ended Monday’s trading session on a lower note. The Nifty 50 couldn’t defend 24,800 closing the session 0.29% lower at 24,781 while the Sensex ended the session 74 points or 0.09% lower at 81,151. The Bank Nifty concluded today’s session 132 points or 0.25% lower at 51,963.
“Markets will continue to focus on the earnings announcements. On the macro front, investors look to RBI’s monetary policy meeting minutes on Wednesday and the HSBC Manufacturing, Services, and Composite PMI data on Thursday,” said Gaurav Garg, Research Analyst at Lemonn Markets Desk.
Stocks to watch for October 22
Bajaj Housing Finance
Bajaj Housing Finance announced a 21% increase in its net profit for the quarter ending September 2024, reaching Rs 546 crore, compared to Rs 451 crore in the same quarter last year. This is the first quarterly result it released after concluding its IPO.
Niva Bupa Health Insurance Company
Niva Bupa Health Insurance Company and Paras Healthcare have received Sebi’s approval to for an IPO. The company is looking to raise Rs 3,000 crore through the sale of fresh shares and an Offer for Sale (OFS) component. Paras Healthcare aims to raise Rs 400 crore through fresh fresh shares and OFS.
Tata Steel
Tata Steel signed a contract with an Italy-headquartered metals technology multinational to deliver a state-of-the-art electric arc furnace (EAF) as part of its green steelmaking drive in the UK. Under the agreement, Tenova is to supply an EAF with an annual capacity of 3 million tonnes of steel similar to the output of the site’s blast furnaces decommissioned recently by melting scrap steel sourced from the UK.
CG Power and Industrial Solutions
CG Power and Industrial Solutions reported a 10% decline in its consolidated profit after tax to Rs 220 crore for Q2 FY25 compared to Rs 244 crore in the year-ago quarter.
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