Market Bizzz

Bank of Baroda’s global advances grew by 11.60% YoY to Rs 11.43 lakh crore as of September 30, 2024, while global deposits increased by over 9% to Rs 13.63 lakh crore. Domestic advances rose by 12.51% YoY. Quarterly earnings will be announced later.

Jupiter Wagons declares an interim dividend of Re 1 per share, with October 7 set as the record date. Payment will be made by October 17. Over the last year, the stock has nearly tripled, providing multibagger returns of 180% YTD and 102% over the past six months.

Mahindra & Mahindra Financial Services expects a 1% year-on-year decline in overall disbursement to approximately Rs 13,160 crore for Q2FY25. Their H1FY25 disbursement is projected to grow by 2% YoY to Rs 25,900 crore. The company reported strong liquidity and projected growth in business assets, despite recent share performance being below Nifty.

As Swiggy gears up for its Rs 10,000 crore IPO, its fierce rivalry with Zomato is set to spill over onto D-Street, with both companies likely competing to capture investor interest. With a market share of around 58% in the food delivery business and 40-45% in quick commerce, Zomato is currently the market leader in both segments. However, the competitive landscape could shift once Swiggy hits the public market and improves its performance under heightened scrutiny.

Represented by a long white (or green) candlestick with no upper shadow and a small or nonexistent lower shadow, it indicates strong buying pressure throughout the session.

Reliance Group will partner with Druk Holding and Investments Ltd. to develop 500 MW of solar and 770 MW of hydroelectric power projects in Bhutan. A new subsidiary, Reliance Enterprises, will be formed. The solar plant will be built in two phases. The Chamkharchhu-1 hydro project will follow a run-of-the-river model.

The over six-decade-old company follows a stringent risk management process which has helped it deliver more than four-fifths of the projects it undertakes ahead of schedule. On average, more than half of such projects within the industry see a delay.

For Crisil, overall, there were 506 upgrades and 184 downgrades. The credit ratio increased to 2.75 times in the first half of this fiscal from 1.79 times in the second half of last fiscal. This highlights the sustained strengthening of India Inc’s credit quality.

Meanwhile, the Adani Group along with Wilmar will also launch the sale of around a 13% stake in Adani Wilmar by the end of this month or early in November, to cut down the promoter stake in the company to comply with listing regulations, sources said.

Fund Manager Pawan Parakh predicts a positive outlook for consumer companies in upcoming earnings seasons, expecting improvement in Q3 and Q4. He also highlights high earnings visibility in sectors like power, capital goods, pharma, and real estate. Watch for launches in real estate and discretionary spending growth in the IT sector.