Stocks to Watch on October 29, 2024: Bharti Airtel, Adani Power, Tata Tech & More in Focus

India’s benchmark indices, Sensex and Nifty 50, are expected to get impacted on October 29, 2024 due to mixed signals from global markets. Gift Nifty trends suggest a flat-to-slightly positive start, trading around 24,360—about 10 points above the previous close of Nifty futures. Check out a few stocks to focus on during the trading session today.

• Bharti Airtel

The telecom Bharti Airtel giant saw its net profit jump 168% in Q2 FY25 to ₹3,593 crore, up from ₹1,341 crore last year. Its revenue per user rose to ₹233, a 15% year-on-year increase from ₹203. Airtel’s revenue from operations also grew by 12% to ₹41,473 crore, with a 7.7% boost quarter-on-quarter thanks to solid performance in India and growth in Africa.

• Adani Power

Adani Power’s net profit dropped 50% year-on-year, coming in at ₹3,298 crore. However, revenue from operations grew 3% to ₹13,339 crore, and its EBITDA saw notable growth, with H1 FY25 up 38% to ₹11,692 crore and Q2 FY25 up 24.6% to ₹5,402 crore.

• Tata Technologies

Tata Technologies posted a 2% dip in net profit to ₹157 crore for Q2 FY25, though revenue from operations rose slightly to ₹1,296 crore. Operating EBITDA climbed 10% to ₹235 crore, and EBITDA margins improved to 18.2%.

• BHEL

Bharat Heavy Electricals Limited returned to profitability, reporting a ₹106 crore net profit for the September quarter, a sharp recovery from last year’s loss of ₹63 crore. Revenue surged by 28% year-on-year to ₹6,584 crore and increased 20% sequentially from ₹5,485 crore in Q1 FY25.

• Indian Oil Corporation

IOC’s standalone profit saw a steep 99% decline, dropping to ₹180 crore from ₹12,967 crore last year. Revenue from operations dipped 4% to ₹1.95 lakh crore. Quarter-on-quarter, IOC’s profit dropped 93%, while revenue decreased by 10%.

• HDFC Bank

Citigroup sold HDFC Bank shares worth ₹275 crore through the open market. Citigroup Global Markets Mauritius sold 1,579,953 shares at ₹1,742.60 each, with Ghisallo Master Fund LP purchasing them at the same price.

• JSW Infrastructure

JSW Infra’s net profit rose nearly 40% year-on-year to ₹373.73 crore in Q2 FY25, with total income reaching ₹1,088.19 crore, showcasing strong financial performance.

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.