Stocks to Watch: RIL, Bajaj Auto, L&T Tech, Oberoi Realty, RVNL, Crisil and more

Here’s a quick look at stocks likely to be in focus in today's trade.

Reliance Industries Ltd (RIL): The board of billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) approved a bonus share issue in a 1:1 ratio through majority e-voting and set Monday, October 28, 2024, as the record date. This follows the bonus issue announcement during the company’s 47th annual general meeting (AGM) in late August. In addition, RIL's board approved an increase in authorized share capital from ₹15,000 crore to ₹50,000 crore.

Bajaj Auto: Bajaj Auto reported a 31.4 percent decline in consolidated net profit for Q2 FY25 to ₹1,385.44 crore, impacted by a one-time deferred tax payment. However, revenue from operations grew by 22.2 percent to ₹13,247.28 crore, driven by strong vehicle sales and recovering exports. The company's EBITDA reached a record ₹2,653 crore, reflecting a 24 percent year-on-year growth, but it missed consensus estimates for profit and revenue.

L&T Technology Services (LTTS): LTTS reported a 1.3 percent rise in net profit for Q2, reaching ₹319.6 crore, while revenue climbed 7.8 percent to ₹2,572.9 crore, fueled by strong demand from the European automobile sector. The company targets 8-10 percent revenue growth for FY25 and aims to boost profit margins from the current 15.1 percent.

Bikaji Foods International: Bikaji Foods announced a strategic investment of ₹131.01 crore to acquire a 53.02 percent stake in Hazelnut Factory Food Products, a café and artisanal sweets brand based in Lucknow. The move is aimed at expanding Bikaji's product portfolio and positioning the company as a key player in the quick service restaurant (QSR) segment.

Oberoi Realty: The Mumbai-based Oberoi Realty’s board approved the issuance of non-convertible debentures (NCDs) totaling ₹1,500 crore on a private placement basis. The company stated that this decision was made during an operations committee meeting held recently.

Kolte-Patil Developers: Kolte-Patil Developers reported strong sales value growth in its Q2 update, with sales reaching ₹770 crore, marking an 8 percent rise quarter-on-quarter and a 22 percent increase year-on-year. Collections, however, dipped by 10 percent quarter-on-quarter to ₹550 crore, though they rose 16 percent year-on-year.

Crisil: Crisil reported a 12.9 percent year-on-year increase in net profit, reaching ₹171.6 crore for Q3 2024, compared to ₹152 crore in the same period last year. Revenue from operations also grew by 10.3 percent to ₹811.8 crore from ₹735.9 crore.

RVNL: State-run RVNL emerged as the lowest bidder (L1) for a ₹270 crore contract from Maharashtra Metro Rail Corporation Ltd to construct ten elevated metro stations as part of the Nagpur Metro Rail Project Phase 2.

GMR Airports: GMR Airports reported strong growth in passenger and cargo traffic in September 2024. Total passenger traffic rose by 9 percent year-on-year to 10.2 million, with domestic traffic up by 7.5 percent and international traffic increasing by 12.2 percent.

Titagarh Rail Systems: Morgan Stanley Asia Singapore Pte acquired a 0.57 percent stake in Titagarh Rail Systems at an average price of ₹1,120 per share, valued at ₹85.5 crore, while Smallcap World Fund Inc sold a 0.59 percent stake at a similar price, worth ₹88.6 crore, signaling continued interest in the stock amidst market fluctuations.

Q2 Results Announcements: Companies releasing Q2 results today include Infosys, Wipro, Axis Bank, Nestle India, LTIMindtree, Tata Chemicals, Tata Communications, Ceat, Havells India, Jindal Stainless, Central Bank of India, Indian Overseas Bank, and others.L&T Technology Services