Axis Bank, Kotak Mahindra Bank, Bharti Airtel, Bharat Forge, JSW Steel stocks in focus

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October 26, 2021 8:39 AM

Nifty futures were trading 35.50 points or 0.20 per cent up at 18,176.50 on Singaporean Exchange, indicating a gap-up opening for BSE Sensex and Nifty.

Axis Bank, Kotak Mahindra Bank, Bharti Airtel, Bharat Forge, JSW Steel stocks in focusMarket particpiants willclosely watch the Q2 earnings of the current fiscal, foreign fund inflow, oil prices, rupee movement against US dollar, and other global cues

Nifty futures were trading 35.50 points or 0.20 per cent up at 18,176.50 on Singaporean Exchange, indicating a gap-up opening for BSE Sensex and Nifty. Market participants will closely watch the Q2 earnings of the current fiscal, foreign fund inflow, oil prices, rupee movement against US dollar, and other global cues. “Nifty found support near 18000 and the strong rebound from the low point has led to a bullish crossover in the hourly momentum indicator. The Nifty should pick up pace now. The index consistently took support between 18000-18030 or near 21 day SMA. If the index succeeds to trade at 18000-18050 levels one can expect a swift pullback. The resistance is expected near 18225-18350 zones & fresh move is possible only above 18600 zones,” Aprajita Saxena, Research Analyst, Trustline Securities, told Financial Express Online.

Stocks to watch

Axis Bank, Kotak Mahindra Bank: BSE-listed companies such as Axis Bank, Kotak Mahindra Bank, Bajaj Finance, ABB India, Cipla, Ambuja Cements, Asahi Songwon Colors, Best Agrolife, Birlasoft, Canara Bank, Central Bank of India, Century Enka, Cera Sanitaryware, Coromandel Engineering, Gati, Greaves Cotton, Greenlam Industries, Hikal, IRB Infrastructure Developers, Jindal Stainless, Dr Lal PathLabs, Mahindra Lifespace Developers, Meghmani Finechem, Mahanagar Gas, Meghmani Organics, Persistent Systems, PI Industries, Torrent Pharmaceuticals, and Zensar Technologies will release September quarter earnings on October 26.

Stocks under F&O ban: Six stocks such as Escorts, Indiabulls Housing Finance, Indian Energy Exchange, NMDC, SAIL, and Sun TV Network are under the F&O ban for October 26.

Bharti Airtel: Bharti Airtel has informed the Department of Telecommunications (DoT) about its acceptance of the four-year moratorium for payment of its adjusted gross revenue (AGR) and spectrum dues. Sources said Bharti sent its acceptance letter to the DoT on Friday.

Bharat Forge: Bharat Forge on Monday announced a voluntary retirement scheme (VRS) for employees at its main plant located at Mundhwa in Pune. The fresh VRS scheme opened on October 23 and has been offered to all employees who are 40 years old and above and have completed 10 years of service.

CSB Bank: CSB Bank on Monday reported a 72% year-on-year jump in its net profit to Rs 118.57 crore for the second quarter due to lower provisioning for bad loans. The Thrissur-based lender had reported a net profit of Rs 68.90 crore in the year-ago period and a net profit of Rs 61 crore in the first quarter of the current fiscal.

The Ramco Cements: Ramco Cements reported an over two-fold jump in consolidated net profit at Rs 519.12 crore for the quarter ended September, helped by write-back of excess deferred tax and growth in sales.

JSW Steel: JSW Group on Monday said it will invest Rs 150 crore to set up a 1.2 lakh metric tonne color-coated steel manufacturing facility in Jammu and Kashmir. The plant will be set up by group company JSW Steel, JSW Group said in a statement.

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