Stocks To Watch: Adani Enterprises, Tata Steel, Indian Oil, Dr Reddy's, IDFC First Bank, Star Health, NHPC

Asian shares opened higher following the lead from Wall Street after dovish comments on rates from Federal Reserve officials. Oil and gold climbed on the fallout from Hamas’ attack on Israel.

Stocks opened higher in Australia, Japan and South Korea while Hong Kong futures pointed to gains, after the S&P 500 erased losses on Monday.

On Monday, energy companies led gains in the S&P 500 as U.S. crude futures briefly topped $87 a barrel. Exxon Mobil Corp. and Chevron Corp. added over 2.7%. Defense companies rallied, with Northrop Grumman Corp. up the most since March 2020 and Lockheed Martin Corp. gaining 8.9%. American Airlines Group Inc. and Delta Air Lines Inc. fell more than 4%.

Meanwhile, the yield on the 10-year U.S. bond was trading at 4.65% and Bitcoin was above 27,000-level. Brent crude was trading below $88 a barrel, whereas WTI Crude was above $86-mark.

At 6:09 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 70 points or 0.36% at 19,580.5.

India's benchmark stock indices declined through Monday as the fear of a wider conflict rose between Israel and Hamas. Banks, media, and metal sectors dragged down the indices. The Nifty was trading below the 19,600 level, whereas the Sensex slid below the 65,600 mark. The indices fell the most in a single day since Sept. 28.

Overseas investors remained net sellers of Indian equities for the 14th consecutive session on Monday. While foreign portfolio investors offloaded stocks worth Rs 997.8 crore, domestic institutional investors mopped up equities worth Rs 2,661.3 crore, according to provisional data from the NSE.

The Indian rupee ended at a record low against the U.S. dollar by weakening 2 paise to close at Rs 83.27.

• Adani Enterprises: The Adani Group has condemned Financial Times for its "Malicious Campaign to Tarnish its Global Reputation." The company said in statement that Financial Times is deliberately recycling old allegations to support vested interests.

• Tata Steel: Fitch upgraded the steelmaker to BBB- from BB+ with a 'Stable' outlook. The upgrade follows reduction in uncertainty and financial risk from its U.K. operations.

• Indian Oil: The company has appointed Anuj Jain as the Director (Finance) from Oct. 9, 2023. Consequently, Sanjay Kaushal has ceased to be the CFO of the company.

• Dr Reddy's Laboratories: The company was named in antitrust complaint filed in California court by Mayo Clinic and LifePoint Corporate Services. It alleges improper restraining of competition and shared monopoly in the sale of Revlimid.

• IDFC First Bank: Bank to sell its office premises in BKC, Mumbai, to NSDL for Rs 198 crore.

• Cummins India: Company’s Pune unit in MIDC Phaltan will be excluded from SEZ scheme from Oct. 11, 2023. The Unit shall continue to operate as Domestic Tariff Area plant.

• Container Corporation of India: Export-Import volumes rose 3.5% year on year to 9.7 lakh TEUs and domestic volumes rose 26.13% to 2.61 lakh TEUs in second quarter.

• Mazagon Dock Shipbuilders: The company has signed Letter of Intent with an European client for the construction of 6 firm and 4 optional units of 7500 DWT multi-purpose hybrid power vessels. The prices for the vessels would be decided post signing of the contract.

• Star Health: The company gets a Rs 39 crore show cause cum demand notice from DGGI for for non-payment of GST on co-insurance premium from July 2017 to March 2023.

• Phoenix Mills: Total consumption in Q2 of FY24 rose 20% year on year to Rs. 2,637 crore. Retail collections rose 23% year on year to Rs. 638 crore in second quarter.

• Genus Power Infrastructures: The Company's unit received two LoAs worth Rs 3,115 crore for the design of advanced metering infrastructure systems with the supply, installation and commissioning of 34.8 lakh smart prepaid meters.

• Glenmark Life Sciences: The drugmaker has declared an interim dividend of Rs 22.50 per share for FY24. The record date will be Oct. 17 and the interim dividend will be paid by Oct. 23.

• Dilip Buildcon: Company has received a LoA for order worth Rs 396.9 crore from Water Resources Zone, Udaipur. The EPC Turnkey order is expected to be completed within 44 months. The order includes planning, design and construction of Dewas III and IV Dams Tehsil- Gogunda Udaipur

• Dhanuka Agritech: The company launches new product named Semacia, which is a broad spectrum insecticide against lepidopteran insect pests on a range of crops

• GR Infra, Patel Engineering, NHPC: Dibang Power, a 50-50 JV of G R Infraprojects and Patel Engineering, has secured a contract agreement with NHPC for a Rs 3,637.12 crore project. The project is for construction of civil works including Head Race Tunnel, Tail Race Tunnel, Pothead Yard, Adits for the Dibang Multipurpose Project in Arunachal Pradesh.

• Bhageria Industries: The company has received one turnkey international solar engineering, procurement, and construction (Solar EPC) project with comprehensive operation and maintenance and water proofing in APM terminal, Bahrain. The project with a capacity of 11.40 MWp has a total order value of Rs 104.49 crore.

• Pharma Stocks: Indian pharma market reported low sales growth of 2.1% year on year in September, according to data from All Indian Origin Chemists and Distributors Ltd.

• Life Insurance stocks: Revenue of the life insurance industry declined by 16% year on year in September, according to Life Insurance Council's data.

KPI Green Energy (Consolidated, YoY)

Revenue up 34.55% at Rs 215.06 crore vs Rs 159.84 crore

Ebitda up 34.86% at Rs 71.15 crore vs Rs 52.76 crore

Ebitda Margin at 33.08% vs 33.01%

Net Profit up 64.26% at Rs 34.74 crore vs Rs 21.15 crore

• Authum Investment & Infrastructure: Nariman Investment Holdings sold while Mentor Capital bought 52 lakh shares (3.06%) at Rs 398.7 apiece.

• Infibeam Avenues Ltd.: Mayur Desai HUF sold while Abhishek Mayur Desai bought 60 lakh shares (0.22% stake) at Rs 20.55 apiece

• Saakshi Medtec & Panels: Ashish Kacholia bought 6.22 lakh shares (3.53%) while Hem Finlease Pvt Ltd sold 6.20 lakh shares (3.51%) at Rs 167.01 apiece

• Manglore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 61.89 shares on Oct. 9

• Chambal Fertilizers & Chemicals: Promoter Zuari Industries created a pledge of 56.9 lakh shares on Oct. 9

• Zensar Technologies: To meet analysts and investors on Oct. 17

• Shalby Ltd: To meet analysts and investors on Oct. 17

• Biocon: To meet analysts and investors on Nov. 10

• Heritage Foods: To meet analysts and investors on Oct. 20

• Ajmera Realty & Infra: To meet analysts and investors on Oct. 12

• Skipper Ltd: To meet analysts and investors on Oct. 11

• Tejas Networks: To meet analysts and investors on Oct. 20

• Dalmia Bharat: To meet analysts and investors on Oct. 16

• Arvind Ltd: To meet analysts and investors on Oct. 12

• Goldiam International: To meet investors on Oct. 12

• Ex/Record Date Stock Split: Gujarat Themis Biosyn, Themis Medicare.

• Move Into Short-Term ASM Framework: Godrej Industries, Polo Queen Industrial & Fintech, Vascon Engineers.

• Move Out Of Short-Term ASM Framework: Gujarat Ambuja Exports, Nelcast.

• Nifty October futures ended at 19,522.00, a discount of 156.5 points.

• Nifty October futures fell 1.01% with 2,144 shares in open interest.

• Nifty Bank October futures ended at 43,972.15, a discount of 538.05 points

• Nifty Bank October fell 2.41% with 4,024 shares in open interest.

• Securities in the ban period: Delta Corp., MCX, India Bulls Housing Finance, Manappuram Finance, L&T Finance, Punjab National Bank.

• IT, Telecom Q2 Results Preview – Weakness Continues; Deal Wins To Remain Robust: Axis Securities

• Q2 FY24 Results Preview - A Quarter Of Strong Earnings Fueled By Domestic Cyclicals: Motilal Oswal

• BFSI Q2 Results Preview - Earning Momentum Moderates; Growth Upbeat: Dolat Capital

• Agro Chemicals Q2 Results Preview - Subdued Quarter; Outlook Remains Bleak: Prabhudas Lilladher

• FMCG Q2 Results Preview - Muted Topline, Volume Growth Persists: Nirmal Bang

• Banking Q2 Results Preview - Healthy NII, PAT Growth On YoY-Basis, But QoQ Pressure Rising: ICICI Securities

• Healthcare Q2 Results Preview - Margins To Sustain: Prabhudas Lilladher

• Specialty Chemicals Q2 Results Preview - Cyclical Pain May Aggravate: ICICI Securities

• Oil And Gas Q2 Preview - Operationally Weak Results Likely: Prabhudas Lilladher

• Media Q2 Preview- Highest-Ever Quarter For PVR Inox; Sequential Improvement For Broadcasters: ICICI Securities

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