Stocks to Watch: Honasa Consumer, Wipro, HPCL, Bajaj Finance, Adani Energy

Here are the top stocks that could be in focus in today’s trade:

Honasa Consumer: Analysts predict that the stock of Honasa Consumer, the parent company of Mamaearth, is likely to debut with a flat to marginally positive listing on November 7. Mamaearth’s recent IPO faced significant market challenges, although it was well-received by qualified institutional bidders (QIB), who oversubscribed the offering by 11.5 times. In contrast, retail investors demonstrated caution, subscribing only 1.4 times the allotted quota.

Wipro: Wipro Ltd., the country’s fourth largest software services firm, has made it mandatory for its employees to work from the office three days a week, effective 15 November, signalling a shift in the IT industry towards decreasing remote work arrangements. This follows a move by peer Tata Consultancy Services, which has directed some of its teams to work on-site full-time, five days a week. It also said that about 55% of its employees are already coming thrice a week to office.

HPCL: State-run Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a consolidated net profit of ₹5,826.96 crore for the July-September quarter on the back of low crude prices and higher gross refining margin (GRM). During the same period of the last fiscal, the oil marketing company had reported a net loss of ₹2,475.69 crore. HPCL’s revenue during the period under review, however, declined 10.15% to ₹1 lakh crore.

Bajaj Finance: Bajaj Finance Ltd on November 6 announced the launch of a qualified institutional placement (QIP) to raise funds, with the floor price set at “ ₹7,533.81 per share”. The company informed the exchanges that it may offer a discount of up to 5% on the floor price. The issue was given the nod by the company’s QIP Special Committee, which met earlier in the day.

Adani Energy: Adani Energy Solutions on Monday reported a consolidated net profit of ₹284 crore in the second quarter of fiscal year 2023-24 (Q2FY24), 47% higher compared to ₹194 crore recorded in the year-ago period. The company’s consolidated revenue in Q2FY24 came in at ₹3,421 crore, up 13% from ₹3,032 crore clocked in the corresponding quarter of the previous fiscal.

Emami: Homegrown FMCG major Emami Ltd on Monday reported a flat profit after tax of ₹180 crore for the second quarter that ended on September 30, 2023. The company had posted a net profit of ₹180.13 crore in the July-September quarter a year ago, according to a regulatory filing. However, Emami’s revenue from operations rose 6.28% to ₹864.87 crore during the quarter as compared to ₹813.75 crore in the corresponding quarter.

NHPC: NHPC Q2 results: Miniratna power company, National Hydroelectric Power Corporation, on Monday, reported a net consolidated profit of ₹1,693 crore in the September quarter of FY 23-24. Its consolidated net profit stood at ₹1,685.81 crore in the quarter ended September last year. The company shares closed marginally higher at ₹50.39 per share on BSE on Monday.

Bata India: Footwear retailer and manufacturer Bata India on Monday said it has signed a licensing and manufacturing deal with Authentic Brands Group to launch and sell lifestyle brand Nine West in India. In India. Bata has four manufacturing facilities in the country, with a retail presence through 2,050 stores in multiple cities. In 2022, Authentic Brands Group announced the acquisition of sportswear brand Reebok from Adidas.

Nykaa: FSN E-Commerce Ventures, the operator of online beauty and fashion retailer Nykaa, on November 6 reported a consolidated net profit of ₹7.8 crore in the second quarter of fiscal year 2023-24 (Q2FY24). This is 50% higher as compared to ₹5.2 crore clocked in the year-ago period. Sequentially, the net profit increased by 44% from ₹5.4 crore reported in the first quarter of the current fiscal.

Bajaj Electricals: Bajaj Electricals Ltd on Monday reported a 56% decline in consolidated net profit to ₹27.28 crore for the September quarter on account of weak consumer demand. The company had posted a net profit of ₹62 crore in the July-September period a year ago, according to a regulatory filing. Its net sales declined 3.76% to ₹1,107.40 crore in the second quarter of the current fiscal as against ₹1,150.77 crore in the year-ago period.