Bharti Airtel, SBI, Eicher Motors, Bank of India, Union Bank, Dabur India, HPCL stocks in focus

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November 03, 2021 8:39 AM

Nifty futures were trading 27.50 points or 0.15 per cent up at 17,948.50 on Singaporean Exchange, suggesting a positive start on the day of weekly F&O expiry

Bharti Airtel, SBI, Eicher Motors, Bank of India, Union Bank, Dabur India, HPCL stocks in focusInvestors will closely watch the July-September quarter earnings, oil prices, outcome of US Fed MPC, foreign fund flows, rupee movement against US dollar, and other global cues. Image: Reuters

Nifty futures were trading 27.50 points or 0.15 per cent up at 17,948.50 on Singaporean Exchange, suggesting a positive start on the day of weekly F&O expiry. Investors will closely watch the July-September quarter earnings, oil prices, the outcome of US Fed MPC, foreign fund flows, rupee movement against US dollar, and other global cues. “We are of the view that ahead of the weekly expiry, the index is likely to consolidate in the range of 17800 to 18050 levels. For Nifty, the intraday support has been placed at 17850-17800, whereas 20 day SMA or 18050 would act as a key resistance level. On the other side, the dismissal of 17800 could possibly trigger another correction wave up to 17725,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.

Stocks to watch

Bharti Airtel: Bharti Airtel beat Street estimates on all the fronts on the back of one-time spectrum sale gain and tariff increases undertaken by the company in August. The company’s consolidated net profit jumped 300% quarter-on-quarter to Rs 1,134 crore aided by a one-time gain of Rs 722 crore on account of spectrum sale to Reliance Jio.

State Bank of India, Eicher Motors: BSE-listed companies such as State Bank of India (SBI), Eicher Motors, Aditya Birla Fashion and Retail, Bata India, DCM Shriram Industries, GPT Infraprojects, Grindwell Norton, Gujarat State Petronet, Gujarat Alkalies & Chemicals, Likhitha Infrastructure, Pfizer, RattanIndia Power, Sharon Bio-Medicine, and Uflex will release September quarter earnings.

Bank of India: Bank of India (BoI) on Tuesday reported a nearly 100% year-on-year rise in net profit in the September quarter to Rs.1,051 crore on the back of lower provisions and higher other income.

Union Bank of India: Union Bank of India on Tuesday reported 195% year-on-year (y-o-y) growth in net profit to Rs 1,526 crore during the September quarter of the current financial year on the back of a jump in non-interest income and lower provisions.

Dabur India: Homegrown FMCG major Dabur India Ltd on Tuesday reported a 4.64 per cent rise in consolidated net profit at Rs 505.31 crore for the September quarter backed by double-digit volume growth in domestic market.

HPCL: Hindustan Petroleum Corporation Ltd (HPCL) on Tuesday reported a 22 per cent drop in its September quarter net profit as its refineries turned lower crude oil into fuel.

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