1. Stocks of NDTV, PNB, Tata Coffee, DCM Shriram will be in focus today; Voltas, Bharat Forge Q2 earnings ahead

Stocks of NDTV, PNB, Tata Coffee, DCM Shriram will be in focus today; Voltas, Bharat Forge Q2 earnings ahead

Indian stock markets are likely to open marginally lower on Wednesday following the political tensions in Saudi Arabia and a dull wall street closing on Tuesday

By: | Updated: November 8, 2017 9:45 AM
National Stock Exchange building. (Image: Wikimedia Commons)

Indian stock markets are likely to open marginally lower on Wednesday following the political tensions in Saudi Arabia and a dull wall street closing on Tuesday. The early indicator of NSE Nifty — SGX Nifty Futures — was trading little changed, up 0.02% at 10,413 points on the Singapore Stock Exchange. Among the major companies which are lined up with their Q2 earnings include Arvind, Voltas, Ashok Leyland, Bharat Forge, Welspun India, Bombay Dyeing, CESC, Chennai Petroleum, Future Consumer, IRB Infrastructure, Mahanagar Gas, Balkrishna Industries, Mas Financial, Petronet LNG, Pidilite Industries, Shree Cement and Thermax.

These stocks will be in focus today

NDTV: NDTV said it has moved the Bombay High Court against the markets regulator Sebi’s rejection of its settlement applications filed by the company and then key managerial persons.

Tata Investment Corporation: Tata Investment Corporation reported 11 per cent decline in its standalone net profit to Rs 115.65 crore for second quarter ended September 30.

L&T Technology Services: IT company L&T Technology Services reported a 9.65 per cent increase in its consolidated net profit to Rs 122.7 crore in the three months ended September 30.

Tata Coffee: Tata Coffee Ltd posted a 21.43 per cent drop in consolidated net profit at Rs 35.08 crore for the second quarter of the 2017-18 fiscal.

Indian Overseas Bank: Public sector Indian Overseas Bank reported widening of its net loss by nearly 60 per cent at Rs 1,222.50 crore for second quarter ended September.

DCM Shriram: DCM Shriram Ltd posted an 88.21 per cent jump in its consolidated net profit at Rs 171.95 crore in the September quarter of the current fiscal on strong sales.

Punjab National Bank: Punjab National Bank, which has exposure to nine accounts under insolvency process, hopes that the five steel accounts in the list will be resolved within the stipulated time-frame as there is good interest from potential bidders for those assets.

GlaxoSmithKline Consumer Healthcare: GlaxoSmithKline Consumer Healthcare reported 4.73 per cent increase in net profit at Rs 192.41 crore for the second quarter ended September 30, 2017-18.

Castrol India: Castrol India reported a 27 per cent jump in its September quarter net profit and announced a 1:1 bonus share.

Indian rupee on Tuesday: The rupee today plunged by 35 paise to end at a fresh one-week low of 65.03 a dollar owing to high demand for the American currency from importers amid political upheaval in Saudi Arabia.

Indian markets on Tuesday

Sensex and Nifty lost up to 1%, ended down after the slump in the shares of Reliance Industries, Lupin and State Bank of India. However, domestic stock markets hit the fresh record highs in the early afternoon trade. The sell-off in the stocks of heavyweight companies such as Lupin, Cipla, Bharti Airtel, State Bank of India, RIL, Tata Motors and Sun Pharma led the indices into the red. Indian stock markets are weighing on the mixed sentiments about Q2 corporate earnings. BSE Sensex lost 360.43 points or 1.07% to finish at 33,370.76 points while NSE Nifty washed off 101.65 points or 0.97% to end at 10,350.15 points. Investors seemed to have booked profits amid fears of a outburst in crude oil prices following the shakedown in Saudi Arabia.

US markets on Tuesday

The Dow Jones Industrial Average make out a fourth consecutive record high close on Tuesday, while the S&P 500 ended marginally lower after a disappointing profit forecast from Priceline and a drop in financials, Reuters reported. The Dow Jones Industrial Average ended up 0.04 percent at 23,557.23 after spending most of the day in negative territory. The S&P 500 dipped 0.02 percent to 2,590.64. The Nasdaq Composite slipped 0.27 percent to 6,767.78.

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