Power Grid, Tata Steel, Chambal Fertilisers, Hindalco, Kansai Nerolac and more: Top stocks to watch out for on November 7

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Power Grid | State-owned reported a 0.3% year-on-year (YoY) increase in net profit at ₹3,793 crore for the second quarter that ended on September 30. In the corresponding quarter of the previous fiscal, Power Grid Corporation of India posted a net profit of ₹3,781 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹3,880 crore for the quarter under review.

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Tata Steel | The company outperformed expectations in its second-quarter results for FY25, reporting a net profit of ₹758 crore, sharply above the CNBC-TV18 poll estimate of ₹210 crore. This marks a strong comeback from a loss of ₹6,511 crore in the same quarter last year. Revenue stood at ₹53,904.7 crore, slightly exceeding the forecasted ₹53,425 crore but reflecting a 3.2% year-on-year decline from ₹55,682 crore.

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Chambal Fertilisers | The company reported a 40.8% year-on-year (YoY) jump in net profit at ₹536.4 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, the company posted a net profit of ₹381 crore. Revenue from operations was down 19.3% to ₹4,346.2 crore against ₹5,385.5 crore in the year-ago period.

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Hindalco | Novelis reported an 18% decline in net income for the second quarter, as the recycled aluminium products maker was hit by production disruptions in its Sierre plant in Switzerland following massive flooding. The company reported a net income of $128 million during the three months ended September 30, down 18% from the same period last year.

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Kansai Nerolac | Paint maker reported a 30.7% year-on-year (YoY) slide in net profit at ₹122.8 crore for the second quarter that ended September 30 against ₹177.2 crore in the corresponding period in the last fiscal. The company’s revenue from operations dipped 0.3% to ₹1,951.4 crore compared to ₹1,956.5 crore in the year-ago period. At the operating level, EBITDA increased 22.4% to ₹212 crore in the second quarter over ₹177.2 crore in Q2 of FY24.

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Sonata Software | The company reported a slight increase in net profit for the second quarter ended September 30, with a 0.9% rise to ₹106.5 crore, compared to ₹105.6 crore in the previous quarter. However, the company, which offers a broad range of software and cloud services that support digital transformation for businesses and individuals, saw a 14% drop in revenue, which came in at ₹2,169.8 crore, down from ₹2,527.4 crore in the June quarter.

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Gujarat Gas | City gas distribution company reported an increase in its compressed natural gas (CNG) volumes to 2.93 million metric standard cubic metres per day (mmscmd), a 12% growth compared to the same period last year. The company’s revenue for the quarter stood at ₹3,949 crore, slightly lower than the ₹3,991 crore recorded in the second quarter of the previous financial year.

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Apollo Hospitals | The company reported a 59% year-on-year (YoY) jump in net profit at ₹395.7 crore for the second quarter that ended on September 30, 2024. In the corresponding quarter of the previous fiscal, Apollo Hospitals posted a net profit of ₹249 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹360 crore for the quarter under review.

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Blue Star | The company posted a strong performance in Q2 FY24, with net profit surging by 35.6% year-on-year to ₹96 crore, compared to ₹70.8 crore in Q2 FY23. This rise in profit was underpinned by strategic cost management and increased operational efficiency. The company’s revenue from operations grew by 20.4%, reaching ₹2,276 crore from ₹1,890.4 crore a year earlier.

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Endurance Technologies | Auto component maker reported a 31.4% year-on-year (YoY) surge in net profit at ₹203 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Endurance Technologies posted a net profit of ₹154.5 crore, the company said in a regulatory filing. The company’s revenue from operations increased 14.4% to ₹2,912.6 crore as against ₹2,545 crore in the corresponding period of the preceding fiscal.

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Usha Martin | Homegrown wire ropes manufacturer reported a 0.2% year-on-year (YoY) increase in net profit at ₹109.7 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Usha Martin posted a net profit of ₹109.5 crore, the company said in a regulatory filing. The company’s revenue from operations increased 13.6% to ₹891.2 crore as against ₹784.7 crore in the corresponding period of the preceding fiscal.