Thursday’s market movement may be guided by the quarterly results of some marquee listed players.
Stock markets are in for a muted opening on Thursday morning as SGX Nifty traded with only marginal gains. Analysts have been advising to look for stock specific actions at this juncture. Thursday’s market movement may be guided by the quarterly results of some marquee listed players. US Federal Reserve’s FOMC decided to keep rates unchanged but instead vowed to use other tools at its disposal to help the economic recovery. The Fed’s move could also steer the market movement today. Here are the top stocks that will be in focus:
Bharti Airtel: The telecommunications giants reported a consolidated loss of Rs 15,933 crore in the April-June quarter as it made higher provisions for the AGR dues. However, APRU increased during the quarter.
InterGlobe Aviation: Parent company of domestic airline carrier IndiGo reported a record quarterly loss of Rs 2,844 crore as their revenue plunged 92%. The outlook for the aviation industry has been grim in the wake of the pandemic as travelling becomes a less taken up activity.
Deepak Nitrite: 9,25,451 shares of Deepak Nitrite were bought by State Street Global Advisors Asia Limited on Wednesday at a price of Rs 632 per share.
Yes Bank: The struggling private lender has sent notice of possession to Anil Ambani’s Reliance Group for its headquarters in Mumbai. The move comes after Anil Ambani failed to repay dues worth Rs 2,892 crore.
Reliance Industries: The oil-to-telecom conglomerate will announce its quarterly results today. Eyes will on how did India’s largest private company, in terms of market capitalization, fared during the pandemic aided lockdown.
Other results today: Companies that will post their quarterly results today include, Dabur, HDFC, Karur Vysya Bank, Max Financial, Torrent Pharma, and Essel Propack, among many others. Results so far have been better than expected, lifting the overall mood of the equity markets.