Stocks To Watch On November 2: Adani Enterprises, BPCL, Hero Moto, RIL, Tata Steel, SBI, JK Tyre, GAIL

Indian stocks that will be on investors' watchlist on Thursday include Adani shares, BPCL, Hero Moto, Tata Steel, Reliance Industries, SBI and JK Tyre and Industries. There is a lot of activity in the Indian stock market currently as the earnings season is on and listed companies are reporting their financial results for the quarter ending September 30, 2023. Two Adani group firms including Adani Enterprises and Adani Power are all set to report their Q2FY24 results today.

Buzzing Stocks On Thursday:

State Bank of India: SBI shares will remain in focus today as the public sector bank has successfully raised Rs 10,000 crore at a coupon rate of 7.81% via its first Basel III compliant Tier 2 bond for the current financial year.

JK Tyre and Industries: Shares of JK Tyre and Industries will remain on investors' radar on Tuesday as the tyre manufacturer reported robust results for the quarter ending September 2023. For the July-September period of FY24, the company registered a drastic 372% on-year growth in consolidated profit at Rs 242.1 crore, driven by strong operating performance.

Adani Stocks: The share price of Adani group firms will remain in focus today as two group companies including Adani Enterprises and Adani Power will report their Q2 results today. On Wednesday, Adani Wilmar released its numbers for the quarter ended September 30, 2023.
As per the results, Adani Wilmar's gross profit rose 4% (Quarter-on-Quarter) at Rs 1,223 crore; but fell 9% (year-on-year). The Adani group firm's revenue dropped 4% QoQ at Rs 12,267 crore. In terms of YoY performance Adani Wilmar's revenue fell 13%.

Reliance Industries: Reliance Industries shares will remain in focus today as the Mukesh Ambani-led company is considering raising Rs 15,000 crore through the sale of a local-currency bond, according to a CNBC-TV 18 report citing Bloomberg.

Hero MotoCorp: The share price of Hero Motocorp will be in the limelight on Thursday after the company posted a 47% jump in net profit at Rs 1,054 crore in the second quarter of the fiscal year 2023-24. The automobile giant reported an operational revenue of Rs 9,445 crore during Q2FY24, up 4.1% against Rs 9,075 crore recorded in the corresponding period of the last fiscal.

Tata Steel: Tata Steel shares will be in the spotlight today as the steelmaker saw a loss of Rs 6,511 crore for the three months ended 30 September compared to a profit of Rs 1,297 crore a year earlier. The company's consolidated revenue from operations slumped 7.5% to Rs 55,682 crore during the quarter compared to Rs 59,879 crore in the year earlier.

GAIL/BPCL: GAIL (India) Limited today signed an agreement with Bharat Petroleum Corporation Limited for a 15-year supply of Propane for its upcoming petrochemical plant in Usar, Maharashtra. The 15-year supply contract, estimated at a value of over Rs. 63,000 crore, will see GAIL procuring 600 KTPA of Propane from BPCL's LPG import facility at Uran, which is presently capable of handling 1 MMTP A of LPG imports and is undergoing expansion to accommodate 3 MMTP A of propane and butane imports. In view of the agreement, the GAIL and BPCL shares will remain in the limelight today.