Stocks to Watch: Zomato, Nykaa, Hero MotoCorp, RIL, Godrej Properties, and more

Here’s a quick look at stocks likely to be in focus in today’s trade.

Zomato: Global brokerage Morgan Stanley has expressed a bullish view on Zomato, increasing its target price to ₹355 from the previous ₹278. This revision implies a potential upside of 31.7% from the stock’s recent closing price. The firm maintained an ‘overweight’ rating, citing optimism in Zomato’s quick commerce (QC) segment, which it noted could exceed market expectations and drive future growth.

Hero MotoCorp: Hero MotoCorp reported a consolidated profit after tax of ₹1,066 crore for the quarter ending September 30, 2024, reflecting a 6% year-on-year increase. The growth was attributed to strong sales performance, as revenue from operations rose to ₹10,483 crore, compared to ₹9,533 crore in the same quarter last year. The company sold 15.2 lakh units of motorcycles and scooters during this period, surpassing the 14.16 lakh units sold in the previous year.

Godrej Properties: Godrej Properties has refuted allegations of fraud and money laundering, terming them “baseless” and attributing the claims to a dispute with a dissatisfied joint venture partner. The company’s statement came in response to the ongoing Enforcement Directorate (ED) investigation tied to a housing project.

Reliance Industries: RIL, Viacom 18 Media Private Limited, and The Walt Disney Company announced the completion of their anticipated merger. The resulting joint venture, valued at ₹70,352 crore, aims to strengthen its position as one of India’s largest media and entertainment entities. Reliance has invested ₹11,500 crore as growth capital. This merger is expected to support expansions in digital content, broadcasting, and distribution.

Grasim Industries: Grasim reported a 66% decline in consolidated net profit to ₹390 crore for Q2FY25, down from ₹1,164 crore in the same quarter last year. The drop was attributed to lower cement sales and ongoing investments in its paints business under the Birla Opus brand. Nonetheless, revenue rose by 11.1% year-on-year to ₹33,562.85 crore, bolstered by gains in financial services, cellulosic staple fiber, and specialty chemicals.

PTC Industries: PTC Industries posted a net profit of ₹17.31 crore for Q2FY25, more than doubling the ₹8.14 crore reported in the corresponding quarter of the previous fiscal year. The company’s revenue from operations also showed a substantial rise, reaching ₹72.36 crore compared to ₹57.51 crore in the same period last year.

Happiest Minds: Happiest Minds Technologies reported a net profit of ₹50 crore for Q2FY25, down 3% from the previous quarter’s ₹51 crore. However, the company’s revenue increased by 12% quarter-on-quarter to ₹522 crore, up from ₹464 crore in the June-ended quarter. The operating margin stood at 13.2%, while revenue in constant currency terms rose 7% sequentially and 28.2% year-on-year. The board declared an interim dividend of ₹2 per share.

Sobha Ltd: Sobha reported a profit after tax of ₹26.1 crore for Q2FY25, showing a 3.3-fold increase quarter-on-quarter and a 74% rise year-on-year. Net revenues were recorded at ₹965 crore, marking a 44% growth QoQ and a 25% rise YoY. The company’s real estate collections during the quarter reached ₹1,222 crore, indicating strong cash flow.

Honasa Consumer: Nykaa reported a consolidated net loss of ₹19 crore for Q2FY25, contrasting with a profit of ₹29 crore in the same quarter last year. The decline was attributed to a one-time inventory correction amid changes in its distribution model. Revenue from operations fell by 7% to ₹462 crore compared to ₹496 crore in the year-ago period.

Delhivery: Delhivery posted a consolidated net profit of ₹10 crore for Q2FY25, reversing a loss of ₹103 crore in the same period last year. However, the profit dropped by 81% from the ₹54 crore recorded in the June-ended quarter. Revenue from operations grew by 13% to ₹2,190 crore from ₹1,942 crore in the previous fiscal year.

Glenmark Pharmaceuticals: Glenmark Pharma reported a net profit of ₹340 crore for Q2FY25, a significant turnaround from a net loss of ₹180 crore in the corresponding quarter last year. Revenue for the quarter rose by 7% year-on-year to ₹3,434 crore. EBITDA increased by 30.2% YoY to ₹602 crore, with margins improving to 17.5%.