Stocks to Watch on October 19: The NSE IX’s GIFT Nifty fell 24.5 points, or 0.12%, to close at 19,787, indicating that Dalal Street will open down on Wednesday. These stocks will be the subject of today’s attention for a variety of reasons.
Watch for these Q2 results from a number of well-known companies, including Wipro, Astral, Bajaj Auto, Bandhan Bank, ICICI Lombard General Insurance, IIFL, IndusInd Bank, LTIMindtree, OFSS, Persistent Systems, Polycab Technologies, Shoppers Stop, Titagarh Rail Systems, UTI AMC, and Wipro.
In response to its July 2023 cGMP inspection at its insulin production plant in Johor, Malaysia, the US Food and Drug Administration (FDA) has spoken with Biocon, a step-down subsidiary of Biocon Biologics. The inspection has been classified as “OAI” (Official Action Indicated) by the FDA. The facility may hold up or postpone pending product approvals or supplements due to the OAI status.
Housing Urban Development Corporation (Hudco): On Wednesday, the government wants to sell 7% of the company via the offer for sale (OFS) process. It has offered 140 million shares in total, at a floor price of Rs 79 per share.
The consolidated net profit for the second quarter of fiscal year 24 at Bajaj Finance increased by 28% year over year (YoY) to Rs 3,551 crore. To reach Rs 8,845 crore, Net Interest Income (NIIT) increased by 26% year over year.
L&T Technology Services (LTTS): For the second quarter (Q2) of FY24, net profit increased 5.1% to Rs 315.4 crore. Operations’ revenue increased by 4.6% YoY to Rs 2,386.50 crore.
ICICI Prudential Life Insurance: In Q2, the company reported a net profit growth of 22.4% YoY to Rs 244.25 crore. Net Premium Income increased by 5% to Rs. 10,022 billion.
Zensar Technologies: In Q2FY24, net profit soared by 206.3% YoY to Rs 173.9 crore. However, overall revenue increased by 0.5% YoY to Rs 1,240.80 crore.
In the last six months, IndiGo has launched more than 20 foreign routes across Central and Southeast Asia, Africa, and the Middle East. With its current network, IndiGo can reach 32 foreign locations.
The US Food and Drug Administration (USFDA) has given final clearance to Glenmark Pharmaceuticals’ Apremilast Tablets, which come in dosages of 10 mg, 20 mg, and 30 mg. These pills are the brand-name drug Otezla from Amgen Inc.’s generic line. Otezla Tablets achieved yearly sales of almost $3.7 billion as of August 2023, according to IQVIA annual sales statistics.
First Bank of IDFC and IDFC:The merger of IDFC and IDFC FIRST Bank was authorized on Tuesday by India’s fair trade watchdog, the Competition Commission of India (CCI).
