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Stocks To Watch: L&T Infotech, Edelweiss Financial, SBI, Nestle, HUL

Here are the stocks to watch in trade today...

<div class="paragraphs"><p>The Nifty Index logo is displayed on a glass facade at the NSE building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
The Nifty Index logo is displayed on a glass facade at the NSE building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

India's equity benchmarks rose for the seventh consecutive session to close at record on Monday, aided by gains in metals, power and information technology stocks.

The S&P BSE Sensex index rose 0.75% to 61,765.59, a record close for the 30-stock index. The 30-stock index hit a record 61,963.07 in intraday trade. The NSE Nifty 50 Index also advanced by a similar magnitude to close at 18,477.05, a record close for the index. The 50-stock gauge hit a record 18,543.15 in intraday trade.

Here are the stocks to watch in trade today:

  • Edelweiss Financial Services: Edelweiss Group has announced divestment of its majority stake in Edelweiss Gallagher Insurance Brokers. IRDAI has approved the divestment. The business will transition to the Gallagher brand in the coming months. Edelweiss Group to focus on developing its life and non-life insurance businesses.

  • State Bank of India: RBI has imposed Rs 1 crore penalty on the bank. Penalty due to non-compliance with directions on fraud classification and reporting. Bank was found to have delayed reporting of fraud in a specific account. Further, the bank’s committee has accorded approval to allot 6,000 Basel lll compliant fully paid-up debt instruments in the nature of debentures qualifying as AT 1 Capital of the bank of face value of Rs 1 crore each, bearing a coupon of 7.72% per annum, aggregating to Rs 6,000 crore to bond subscribers.

  • Dixon Technologies (India): Padget Electronics, a subsidiary of the company, and Orbic, a U.S. based smartphone manufacturer have entered into an agreement for manufacturing of smartphones at Padget’s manufacturing facility situated at Noida.

  • Manappuram Finance: Jagdish Capoor has resigned as independent non-executive director and chairman of the company effective October 18, 2021.

  • Indian Energy Exchange: Board to meet on October 21 to consider the proposal of bonus issue of equity shares.

  • TTK Prestige: To consider sub-division of equity shares of face value of Rs 10 each on October 27.

  • HG Infra Engineering: The company has been declared as L-1 bidder by National Highways Authority of India for two HAM projects.

  • Earnings: Nestle India, Hindustan Unilever, ICICI Prudential Life Insurance Company, L&T Technology Services, ICICI Securities, ACC, DCM Shriram, Tata Steel Bsl, Heidelbergcement India, Jubilant Ingrevia, JSW Ispat Special Products, Mastek, Navin Fluorine International, Nelco, Network18 Media & Investments, Rallis India, Sonata Software, Tv18 Broadcast

Earnings Post Market Hours

L&T Infotech Q2FY22 (Consolidated, QoQ)

  • Revenue up 9% at Rs 3,767 crore Vs Rs 3,462.50 crore

  • $ Revenue up 8.3% at $509 million

  • Constant currency revenue growth of 8.9%

  • Net profit up 11% at Rs 551.70 crore Vs Rs 496.80 crore

  • Ebit up 14% at Rs 648.20 crore Vs Rs 568.2 crore

  • Margin at 17.21% Vs 16.41%

  • Declared an interim dividend of Rs 15 per share for FY22

Hatsun Agro Products Q2FY22 (YoY)

  • Revenue up 23% at Rs 1,635.41 crore Vs Rs 1,326.99 crore

  • Net profit up 25% at Rs 82.09 crore Vs Rs 65.78 crore

  • Ebitda up 8% at Rs 209.21 crore Vs Rs 193.58 crore

  • Margin at 12.8% Vs 14.6%

  • The company has entered in to a fresh agreement with Swelect Renewable Energy for purchase of solar power under captive user model

Craftsman Automation Q2FY22 (Consolidated, YoY)

  • Revenue up 54% at Rs 571.01 crore Vs Rs 370.72 crore

  • Net profit up 1.19 times at Rs 49.96 crore Vs Rs 22.83 crore

  • Ebitda up 42% at Rs 143.60 crore Vs Rs 101.62 crore

  • Margin at 25.1% Vs 27.3%

Route Mobile Q2FY22 (Consolidated, YoY)

  • Revenue up 25% at Rs 435.67 crore Vs Rs 349.27 crore

  • Net profit up 28% at Rs 42.17 crore Vs Rs 32.87 crore

  • Ebitda up 34% at Rs 56 crore Vs Rs 41.81 crore

  • Margin at 12.85% Vs 11.97%

Offerings

  • Penna Cement Industries has received SEBI approval for its Rs 1,550 crore IPO. The IPO comprises a fresh issue of Rs 1,300 crore and an offer for sale of up to Rs 250 crore by the promoter PR Cement Holdings.

  • PB Fintech, the parent company of Policybazaar and Paisabazaar, has received SEBI approval for IPO, according to an Economic Times report.

Who’s Meeting Whom

  • Sobha: To meet Ambit Capital and Burman Capital Management on October 22.

Trading Tweaks

  • Record Date Interim Dividend: TCS

  • Price Band Revised From 20% To 10%: Maharashtra Seamless, MSTC, Network18 Media & Investments, Tata Motors

  • Move Into ASM Framework: DB Realty

  • Move Out Of Short-Term ASM Framework: Dishman Carbogen Amcis