Top stocks to watch — Hero Motocorp, Axis Bank, L&T, IndiGo, Maruti Suzuki, Cipla, GSK Pharma, and others

• The SGX Nifty was trading 0.35% lower at 7:45 am, indicating a weak opening for Nifty50.
• Here’s a list of stocks to watch for in trade today.
• Check out the latest news and updates on Business Insider.

The US stock markets saw its worst day since June on Wednesday, as the virus spike spurred new lockdowns across Europe. The Dow Jones Industrial Average closed 3.4% lower, the worst one day fall since June 11. And, the S&P 500 fell 1.9%, its largest since September 23. Crude oil also cracked 6% on surging COVID-19 cases and inventory buildups.

Amidst negative cues from the global markets, the Indian equities are likely to open in the red on Thursday. The SGX Nifty was trading 0.35% lower at 7:45 am, indicating a weak opening for Nifty50.

These are the stocks to watch out for during the trading session on October 28:

Hero Motocorp

India’s largest two-wheeler maker Hero Motocorp reported a 9.05% rise in consolidated net profit to ₹963.82 crore for the quarter ended September 30 on the back of robust sales. In the second-quarter, the company sold 18.22 lakh units, a growth of 7.7% over the same quarter last year.

The shares of Hero Motocorp ended 1% higher on Wednesday.

Axis Bank

Axis Bank posted a net profit of ₹1,683 crore for the second quarter ended September 30. The bank had posted a net loss of ₹112 crore in the same quarter last year. The net interest income (NII) zoomed over 20% to ₹7,326 crore during the quarter under review.

The shares of Axis Bank ended 0.43% lower on Wednesday.

Larsen & Toubro (L&T)

Engineering and construction giant Larsen & Toubro (L&T) posted a 45% decline in consolidated net profit to ₹1,410.29 crore for the quarter ended September 30. The company said cash generation from operations was robust during the quarter, which was strongly supplemented by proceeds from the divestment of E&A business. The company bagged orders worth ₹28,039 crore at the group level during the quarter, registering a decline of 42% compared to the same period last year.

The shares of Larsen & Toubro (L&T) ended 0.41% higher on Wednesday.

Cipla

The drug major Cipla announced the launch of antibody detection kits for COVID-19 in India under the brand name ‘ELIFast’ in partnership with KARWA, under the technology transfer from the Indian Council of Medical Research (ICMR). IgG antibody tests identify the immune status of the individuals to COVID-19.

The shares of Cipla ended 0.55% lower on Wednesday.

Ajanta Pharma

The board of directors of Ajanta Pharma will meet on November 3 to consider a proposal for buy-back of the equity shares of the company and the unaudited consolidated and financial results for the quarter ended September 30.

The shares of Ajanta Pharma ended 1% higher on Wednesday.

NTPC

India’s largest energy conglomerate NTPC has signed an agreement with Japan Bank for International Cooperation (JBIC) for a loan worth ₹3,500 crore. As per the agreement, JBIC will provide 60% of the loan amount, and the balance will be extended by commercial banks namely Sumitomo Mitsui Banking Corporation, Bank of Yokohama, San-In Godo Bank, Joyo Bank and Nanto Bank, under the JBIC guarantee, NTPC said.

The shares of NTPC ended 2% lower on Wednesday.

GlaxoSmithKline Pharma

GlaxoSmithKline Pharmaceuticals reported an 85% drop in its consolidated net profit to ₹76.47 crore for the quarter ended September 30. The company’s consolidated revenue from operations stood at ₹879.32 crore for the quarter. It was ₹882.02 crore for the same period a year ago.

The shares of GlaxoSmithKline Pharma ended 0.29% higher on Wednesday.

Maruti Suzuki, TVS Motor, IndiGo and BPCL

Maruti Suzuki, TVS Motor, IndiGo, BPCL, and other companies are slated to report their quarterly earnings today.

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