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Stocks To Watch Today on November 07, 2024: Power Grid, Tata Steel, Chambal Fertilisers, Hindalco and More Will be in Focus

07 November 20245 mins read by Angel One
Check out the stocks to watch on November 07, 2024. These companies have made significant announcements and will be on investors’ radar.
Stocks To Watch Today on November 07, 2024: Power Grid, Tata Steel, Chambal Fertilisers, Hindalco and More Will be in Focus
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On Wednesday, November 07, 2024, the Indian benchmark indices may witness a muted start. Gift Nifty futures traded slightly down 0.10% to 24,458 at 07:45 AM. Check out a few stocks that will be in focus during the trading session.

  • Power Grid

Power Grid, a state-owned power company released its Q2 FY25 results, wherein it reported a YoY growth of 0.3% in net profit to  ₹3,793 crore as compared to  ₹3,781 crore in Q2 FY24.

  • Tata Steel 

Tata Steel announced Q2 FY25 results and reported a net profit of ₹758 crore, which indicates a strong comeback from a loss of ₹6,511 crore in Q2 FY24. Revenue stood at ₹53,904.7 crore, slightly exceeding the forecasted ₹53,425 crore but reflecting a fall of 3.2%  from ₹55,682 crore on a YoY basis.

  • Chambal Fertilisers

Chambal Fertilisers posted a growth of 40.8% in net profit to ₹536.4 crore on a YoY basis as compared to ₹381 crore in  Q2 FY24. Revenue from operations was down 19.3% to ₹4,346.2 crore against ₹5,385.5 crore in the year-ago period.

  • Hindalco 

Hindalco’s US subsidiary Novelis reported an 18% decline in net income for Q2FY25, as it witnessed a production disruption in its Sierre plant in Switzerland following massive flooding.

  • Kansai Nerolac

Kansai Nerolac, a paint maker posted a 30.7% year-on-year (YoY) slide in net profit at ₹122.8 crore for Q2 FY25. The company’s revenue from operations dipped 0.3% to ₹1,951.4 crore compared to ₹1,956.5 crore in the year-ago period.

  • Sonata Software

Sonata Software reported a modest increase in net profit for the second quarter ended September 30, with a 0.9% rise to ₹106.5 crore, up from ₹105.6 crore in the previous quarter. However, the company— which provides a wide range of software and cloud services supporting digital transformation for businesses and individuals— experienced a 14% decline in revenue, which fell to ₹2,169.8 crore from ₹2,527.4 crore in the June quarter.

  • Gujarat Gas

Gujarat Gas, a city gas distribution company, reported a 12% year-on-year increase in compressed natural gas (CNG) volumes, reaching 2.93 million metric standard cubic meters per day (mmscmd). For the quarter, the company’s revenue stood at ₹3,949 crore, a slight decline from ₹3,991 crore in the same period last year.

  • Usha Martin

Usha Martin, a homegrown wire ropes manufacturer, reported a slight 0.2% year-on-year increase in net profit, reaching ₹109.7 crore for the second quarter ending September 30, 2024, compared to ₹109.5 crore in the same period last year. The company also saw a 13.6% rise in revenue from operations, which totaled ₹891.2 crore, up from ₹784.7 crore in the corresponding quarter of the previous fiscal year, according to a regulatory filing.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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