Stocks to Watch Today, November 18: Hero MotoCorp, Glenmark Pharma, Reliance Industries, and More

Indian stock markets are expected to open lower on November 18, 2024, due to mixed global cues. As of 7:40 AM, GIFT Nifty futures were trading 96.2 points down at 23,505.5.

In the previous session, the BSE Sensex fell 110.64 points (0.14%) to close at 77,580.31, while the NSE Nifty50 declined 26.35 points (0.11%) to settle at 23,532.70.

Here are the key stocks likely to attract investor attention today:

Quarterly Results Announcement

Waaree Energies, Valecha Engineering, Godavari Biorefineries, and Samyak International will release their Q2 earnings today.

Top Stocks to Watch

Hero MotoCorp

India’s largest two-wheeler manufacturer reported a 5.6% increase in net profit and 10% growth in consolidated revenue in Q2FY25. The company’s revenue stood at ₹10,482.93 crore, with a net profit of ₹1,063 crore.

Glenmark Pharma

The pharmaceutical major posted a consolidated profit of ₹354 crore for Q2, a significant improvement compared to a loss of ₹81.95 crore in the same quarter last year.

Sobha

The real estate firm reported a 75% rise in net profit for Q2FY25, reaching ₹26.08 crore, compared to ₹14.94 crore in the previous year.

Muthoot Finance

The gold loan provider recorded a 21% year-on-year growth in net profit, amounting to ₹1,321 crore in Q2FY25, up from ₹1,095 crore in the corresponding quarter last year.

E.I.D. Parry

The sugar producer reported a consolidated profit after tax of ₹591.66 crore for Q2FY25, down from ₹781.85 crore a year ago.

Industry Updates

Indraprastha Gas & Adani Total Gas

City gas distributors are contemplating a hike in compressed natural gas (CNG) prices after a second consecutive cut in cheaper input gas supplies. However, government officials have demanded a detailed cost breakdown to justify the price hike.

Adani Energy Solutions & Tata Power

The two companies are exploring the cooling solutions market, setting up centralized cooling units for multiple establishments.

Reliance Industries (RIL)

RIL has completed the merger of its media assets with the India division of Walt Disney to form a ₹70,352 crore joint venture, a significant move in the media sector.

Hindustan Zinc

The company secured a composite license for a gold mining block in Rajasthan through state government auctions and emerged as the preferred bidder for the Dugocha gold block.

Cyient

Cyient announced an expansion of its partnership with Allegro MicroSystems Inc., focusing on developing next-generation magnetic sensors and power semiconductor products for the automotive sector.

ACME Solar Holdings

ACME Sun Power, a subsidiary of ACME Solar, secured a ₹3,753 crore term loan from REC for 320 MW renewable energy projects in Rajasthan and Gujarat.

Other Developments

Zee Entertainment Enterprises: The board has revised performance targets for MD and CEO Punit Goenka’s reappointment.

Bank of Baroda: Plans to leverage 1,000 branches to attract high net-worth individuals and boost retail deposits.

Anil Ambani’s Reliance Group: Initiating expansion plans under its ‘Vision 2030’ strategy, focusing on leadership and innovation.

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