Indian stock markets are likely to open higher following the record closing in US markets overnight and the earnings optimism. The early indicator of NSE Nifty — SGX Nifty Futures — was trading little changed, up 0.31% at 10,511.5 points on the Singapore Stock Exchange. Shares of Cipla, BHEL and Aditya Birla Capital will be in focus ahead of the quarterly earnings release. Other major companies which are also scheduled to announce their Q2 results are Alembic Pharmaceuticals, Castrol India, Dalmia Bharat, Future Retail, Himatsingka Seide, Jyothy Laboratories, L&T Technology Services, Liberty Shoes, Manappuram Finance, Prestige Estates Projects, Tata Coffee, Tata Investment Corporation, Teamlease Services, Thermax and VIP Industries.
These stocks will be in focus today
Rural Electrification Corporation: State-owned Rural Electrification Corporation reported 30 per cent decline in standalone net profit to Rs 1,214.66 crore in the second quarter ended September 30, mainly due to lower revenues.
Punjab National Bank: Punjab National Bank said it has proposed to mop up Rs 5,000 crore from share sale in next few months and has appointed merchant bankers for it, PTI reported.
Tata Steel: Tata Steel has set up India’s largest coke dry quenching (CDQ) facility capable of handling 200 metric tonnes of the hot fuel per hour at its greenfield Kalinganagar steel plant in Odisha.
Reliance Communications: Anil Ambani-led Reliance Communications (RCom) said the company is not paying
interest or principal amount for the time being to any lenders or its bondholders in view of the strategic debt restructuring
scheme and consequent standstill period till December 2018. Debt-laden Reliance Communications also said it will sell its direct-to-home (DTH) subsidiary, Reliance BIG TV, to Veecon Media and Television. Veecon will “acquire the entire shareholding of RBTV with business on ‘as-is where-is’ basis, along with all existing trade liabilities and contingent liabilities”, Reliance Communications (RCom) said in a statement.
Tata Chemicals: Tata Chemicals said its board has approved sale of its Haldia fertiliser unit in West Bengal to Netherlands-based Indorama Holdings BV for Rs 375 crore.
Jaiprakash Power Ventures: Jaiprakash Power Ventures’ standalone loss narrowed to Rs 156.55 crore in the September
quarter on the back of higher revenues from power business.
Housing and Urban Development Corporation: Housing and Urban Development Corporation Ltd (HUDCO) reported marginal decline in its net profit at Rs 202.10 crore in the quarter ended September.
Just Dial: Local search engine Just Dial reported about 26.5 per cent rise in standalone net profit at Rs 37.5 crore for the September quarter.
Indian Rupee on Monday: The rupee today slipped from the six-week high level to close 13 paise lower at 64.68 against US dollar.
Indian markets on Monday
Indian stock market closed marginally lower after making fresh record highs in a range-bound trade on Monday amid the mixed sentiments following the leaked ‘Paradise Papers’ report. BSE Sensex gained 45.63 points or 0.14% to end at 33,731.19 points while NSE Nifty settled flat, down 0.7 points or 0.01% at 10,451.8 points. However, domestic stock markets hit yet another record highs on Monday after a weak opening ahead of some major corporate earnings this week and GST Council Meeting on 10 November. The benchmark Sensex advanced 162.86 points to hit a fresh record high of 33,848.42 points whereas broader Nifty rose 37.95 points to mark the all-time high of 10,490.45 points.
US markets on Monday
US stocks climbed to record highs on Monday, helped by optimism about merger activity and as investors bet that a Republican plan to cut corporate taxes would bolster earnings, Reuters reported. All three major indexes closed at record highs. The Dow Jones Industrial Average inched up 0.04 percent to end at 23,548.42, while the S&P 500 gained 0.13 percent to 2,591.13. The Nasdaq Composite added 0.33 percent to 6,786.44.