Top Stocks to Watch: Bajaj Finance, SBI Life, HUL, Adani Energy, Fedbank Financial Make Headlines with Q2 Results and Key Updates

The Indian stock market remains under pressure, continuing its downward trend with a decline of over 1% in an ongoing correction phase. Today’s trading session will highlight several key stocks due to important news developments and second-quarter (Q2) earnings reports.

Here are the key stocks to keep an eye on:

SBI Life, HUL, and Bajaj Finserv

Shares of SBI Life, Hindustan Unilever Limited (HUL), and Bajaj Finserv will be in focus as these companies are set to announce their financial results for the July-September 2024 period.

Bajaj Finance

Bajaj Finance reported a 13% rise in its net profit for the September quarter, reaching ₹4,000 crore, up from ₹3,551 crore during the same quarter last year.

Zomato

Zomato’s shares will be in focus after the online food delivery company missed market expectations with its Q2 profit.

Adani Energy Solutions Ltd (AESL)

Adani Energy, part of the Adani Group, has come under the spotlight after receiving a notice from the Securities and Exchange Board of India (SEBI). The notice accuses the company of incorrectly categorizing certain investors as public shareholders.

Max Financial

Max Financial reported a total Annualized Premium Equivalent (APE) of ₹2,170 crore for Q2, with the value of new business standing at ₹512 crore.

Can Fin Homes

Can Fin Homes posted a net profit of ₹212 crore for the September quarter, while its Net Interest Income (NII) reached ₹340 crore.

Fedbank Financial

Fedbank Financial announced the appointment of Parvez Mulla as its new Managing Director and CEO for a three-year term starting on November 11, 2024.

Indus Towers

The Competition Commission of India (CCI) has approved Bharti Airtel’s plan to increase its stake in Indus Towers to over 50%.

Olectra Greentech

Olectra Greentech reported a net profit of ₹48 crore for the September quarter, with total revenue from operations coming in at ₹524 crore.

These updates are likely to have a significant impact on the market, and investors will be watching these companies closely during today’s session.