Stocks to watch- PNB, Marico, JM Financial, Hero MotoCorp

Stocks to watch: PNB, Marico, JM Financial, Hero MotoCorp

Stocks in Focus: GIFT Nifty traded flat at 19,494, up marginally 0.06%, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. On Wednesday, the benchmark domestic indices ended in negative territory. The NSE Nifty 50 fell 0.47% to settle at 19,436.10, while the BSE Sensex tumbled 286.06 points to 65,226.04.

“Downward trajectory remained uninterrupted as the markets plunged amid weak global cues and surging US 10-Year bond yield due to Fed’s higher-for-longer rate view. Bond yields across Europe, Japan and Australia also jumped significantly higher, which prompted investors to exit equity assets. Technically, Nifty’s biggest hurdles for Thursday’s trading session is seen at the 19,666 mark, while confirmation of strength only above the 19,900 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

Hero MotoCorp

The company has received 13,688 bookings for its newly launched flagship motorcycle, Karizma XMR. Hero Karizma XMR was launched at an introductory price of Rs 1,72,900/- and the bookings for the initial set of customers commenced on August 29, 2023 and were closed on September 30, 2023.

IDFC First Bank

CARE Ratings has upgraded the existing rating of the Bank’s long-term debt instruments amounting to Rs 1,874.68 crore from AA/Stable to AA+/Stable.

JM Financial

The company’s CFO Manish Sheth stepped down with effect from September 30, 2023. Mr Sheth Continues to be the Managing Director and Chief Executive Officer of the JM Financial Home Loans, one of the subsidiaries of the Company, according to regulatory filings.

Marico

The company informed the NSE in a regulatory filing that,”Domestic volumes grew in low-single digits on a year-on-year basis, with low single digit volume growth in Parachute Coconut Oil and Saffola Edible Oils, and low single-digit value growth in Value Added Hair Oils. We continued to witness healthy trends in offtakes, market share and penetration across key franchises. The newer portfolios, Foods and Premium Personal Care (including Digital-First), remained on course to achieve full year aspirations.”

(With agency inputs.)