GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lacklustre as the index was trading 5 points or 0.02% higher at 23,649 indicating a muted start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 closed the session 324 points or 1.36% lower at 23,559, while the BSE Sensex fell 984 points or 1.25% to close at 77,691.
Stocks to watch on November 14, 2024
Vodafone Idea
Vodafone Idea’s net loss widened sequentially in the September quarter by Rs 743.8 crore to Rs 7,175.9 crore due to a significant increase in interest and finance costs and a dip across most key performance indicators. Losses stood at Rs 6,432.1 crore a year ago. This was despite a 4% sequential rise in revenue from operations to Rs 10,932.2 crore from Rs 10,508.3 crore.
Cipla
Cipla said the US health regulator has issued eight observations after inspecting its Bengaluru-based plant. The US Food and Drugs Administration (USFDA) conducted an inspection at the company’s manufacturing facility in Virgonagar, Bengaluru from November 7- 13, the Mumbai-based based drug maker said in a filing to BSE. After the inspection, the company received eight observations in Form 483, it added.
PN Gadgil
The newly-listed jewellery company PN Gadgil has seen December quarter sales start off on a strong note, growing 25% year-on-year during Dussehra and Diwali, Group CFO & executive director Kiran Firodiya said in a conversation with FE on Wednesday.
Finolex Cables
Finolex Cables reported a 12% year-on-year decline in net profit to Rs 146.1 crore for the September quarter. Revenues for the quarter grew 10% to Rs 1311.7 crore. A steep fall in copper prices from mid-May 2024 resulted in customer destocking, which continued till August. Consequently, the selling price had to be adjusted downwards, impacting the margin, the company said.
Swiggy
Swiggy said it expects solid growth in the next 3-5 years and plans to expand its geographical footprint and store network for Instamart. It said it has doubled the categories for quick commerce in the last 12 months. “We will continue to invest in various categories,” CEO Sriharsha Majety said after Swiggy’s listing ceremony.
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