Stocks To Watch Today on October 15, 2024: Reliance Industries Share, HCLTech Shares in Focus

On Tuesday, October 14, 2024, SGX Nifty traded 25,240.0, up 0.67% at 08:10 AM, indicating a positive start for the Indian domestic indices. Check out a few stocks, which will be in focus during the trading session.

• Reliance Industries Ltd

RIL reported a 4.8% year-on-year drop in consolidated profit for Q2 FY25, reaching ₹16,563 crore, which fell short of analyst expectations. This marks the third consecutive quarter of profit declines, primarily due to weakness in its oil-to-chemicals (O2C) sector. However, RIL’s digital services and upstream divisions experienced growth. Revenue was slightly down from the previous year at ₹2.31 trillion. Jio Platforms, a subsidiary, achieved robust revenue growth of 18%, fueled by recent telecom tariff increases, although it experienced its first subscriber loss in seven quarters.

• HCLTech

HCL has raised its revenue growth forecast for FY25, expecting an increase between 3.5% and 5%. For Q2 FY25, it reported a net profit of ₹4,235 crore, up 10.5% year-on-year, driven by strong performance in telecommunications and media. HCLTech continues to invest in digital capabilities and AI initiatives, which are expected to enhance future growth.

• Bandhan Bank

Partha Pratim Sengupta will take over as MD and CEO in November, with a focus on transforming the bank’s business model. Currently, micro loans make up 50% of its loan portfolio, but Bandhan aims to shift towards secured loans while preserving healthy margins. The bank’s net interest margin is at 7.6%, and its capital adequacy ratio stands at 15%. 

• Adani Power

The Supreme Court has reinstated Adani Power’s ₹27,000 crore insolvency resolution for the KSK Mahanadi project, enabling recovery for lenders. With total claims of ₹29,330 crore, this project is vital for Adani Power. Adani Power submitted the highest bid for the distressed thermal project at ₹27,000 crore, ensuring a 92% recovery for lenders.

• Atul Auto

Atul Greentech, a subsidiary of Atul Auto, has teamed up with Jio Platforms to offer electric vehicle solutions worldwide. This partnership utilizes IoT technology for enhanced telematics and vehicle monitoring, positioning Atul Auto advantageously in the expanding electric vehicle market.

• Spice Jet

The airline is facing a new insolvency case concerning unpaid dues of approximately ₹58 crore related to a Boeing 737 lease. This adds to ongoing legal challenges, as SpiceJet has previously encountered multiple insolvency petitions without resulting in formal proceedings.

• Bharti Airtel

Ericsson has secured a significant multi-billion dollar contract to supply 5G equipment to Bharti Airtel, following a $3.6 billion deal with Vodafone Idea. The rising demand for 5G in India, driven by Airtel and Jio, may help offset revenue declines in Ericsson’s US market.

• Reliance Home Finance

Anil Ambani, chairman of the Reliance Group, has appealed against a SEBI order that imposed a total penalty of ₹625 crore on several individuals, including a ₹25 crore penalty on Ambani himself. The case involves allegations of financial irregularities and loan disbursements linked to promoters. The Securities Appellate Tribunal is scheduled to hear the matter on October 18.

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.