Top stocks to watch today: Varun Beverages, Hero MotoCorp, Cipla, Grasim

The stock markets are facing a tough week as Sensex and Nifty dropped close to 1.5% on Wednesday. Investor sentiments were impacted by foreign fund outflows, rising retail inflation, and less confidence about an upcoming rate cut. These factors have weighed heavily on market performance.
The ongoing slump in the market has been primarily caused by foreign institutional investors (FIIs) who began pulling funds from Indian stocks in October. Domestic markets, already in a correction phase, took a further hit as indices dipped close to 1.5%. Today, several major stocks are likely to draw attention due to company updates and the release of quarterly results.
Shares of Hindustan Aeronautics Limited (HAL), Grasim, Hero MotoCorp, Honasa Consumer, and Delhivery will be in focus as these companies are set to report their quarterly financial results. Market watchers will be keen to see if these companies’ performance meets expectations, especially given the current volatile market.
VODAFONE IDEA
Vodafone Idea’s stock may likely attract attention after it announced a reduction in its net loss. The telecom giant reported a narrowed net loss of Rs 7,176 crore for the September quarter, an improvement from Rs 8,738 crore in the same period last year. Vodafone Idea’s progress in reducing losses could positively impact its share price amid continued sector challenges.
EICHER MOTORS
Eicher Motors is also set to be a stock to watch. The company reported an 8% growth in its standalone net profit for the quarter ending September 2024, reaching Rs 1,010 crore. This growth comes as a positive development, especially in a challenging environment for the automobile sector.
VARUN BEVERAGES
Varun Beverages launched a qualified institutional placement (QIP) on Wednesday. The floor price for this offering is set at Rs 594.56 per share, a move that could attract significant investor interest. The development reflects the company’s strategy to raise funds and expand its market position.
CIPLA
Cipla is in focus due to regulatory action. The US Food and Drug Administration (FDA) issued a Form 483 with eight observations following an inspection of Cipla’s manufacturing facility in Virgonagar, Bengaluru. This development raises regulatory concerns for Cipla, and the market will watch for updates on how the company plans to address these observations.
APOLLO TYRES
Apollo Tyres reported a net profit of Rs 297 crore for the September quarter, with revenue from operations standing at Rs 6,437 crore. The company’s performance adds to the positive outlook for the tyre sector, and investors will be watching to see if this translates into share price gains.
TATA POWER
Tata Power’s stock may see activity after the company announced the commissioning of a 126 MW floating solar project in Omkareshwar, Madhya Pradesh. This marks a significant step for Tata Power in the renewable energy space, and investors may see it as a positive development for the company’s long-term growth.
SUN TV
Sun TV Network reported a net profit of Rs 409 crore for the quarter ended September 2024, with revenue from operations at Rs 934 crore. The results reflect steady growth for the media company, and investors will be interested in whether this performance will help strengthen Sun TV’s market position