Nifty futures were trading 40.50 points down at 11,847 on Singaporean Exchange, suggesting a negative start for BSE Sensex and Nifty 50 on Wednesday. A host factors such as first phase of Bihar Vidhan Sabha elections, rising coronavirus cases, oil prices, July-September quarter earnings, rupee movement and other global cues, will be keenly watched. Analysts believe markets are offering trading opportunities across the board and traders should proactively manage their positions in such a scenario. “Investors, on the other hand, should not give much weightage to these short term price fluctuations and maintain their focus on accumulating fundamentally sound stocks on dips,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Stocks in focus today:
Bharti Airtel: Telecom operator Bharti Airtel reported substantial narrowing of losses for the second quarter ended September 2020 at Rs 763 crore. The losses were significantly lower than Q2FY20, when it stood at Rs 23,045 crore. Also, Airtel on Tuesday said it is planning to exit the Ghanaian telecom market.
Tata Motors: Tata Motors reported a consolidated net loss of Rs 307.26 crore for the second quarter ended September 30. The auto major had reported a net loss of Rs 187.7 crore during the July-September period previous fiscal.
Hero MotoCorp: Harley-Davidson and Hero MotoCorp announced that the two will ride together in India. As per the distribution agreement, Hero MotoCorp will sell and service Harley-Davidson motorcycles and sell Parts & Accessories and General Merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India.
Sandhar Technologies: HSBC GIF Asia Ex Japan Equity Smaller Companies sold a total of 12.08 lakh shares in Sandhar Technologies at Rs 236 per share on NSE and BSE.
ICICI Bank: ICICI Bank on Tuesday said the US Securities and Exchange Commission (SEC) has concluded a probe into the bank’s bad-loan provisioning exercise and decided not to take any enforcement action against it.
Lakshmi Vilas Bank: The Reserve Bank of India has asked Lakshmi Vilas Bank (LVB), which is in the midst of a merger process with Clix group, to reconsider the names proposed for the post of new MD & CEO, PTI quoted a senior official as saying.
ICICI Prudential Life Insurance Company: ICICI Prudential Life Insurance Company reported a flat net profit of Rs 303.22 crore in the September quarter. The company had posted a net profit of Rs 301.86 crore in the year-ago quarter.
Axis Bank, Titan: A total of 70 listed companies including L&T, Axis Bank, Hero MotoCorp, Dr Reddy’s Laboratories, Titan Company, Route Mobile, UTI Asset Management Company, ICICI Securities, Max India and MCX, are scheduled to announce their July-September quarter earnings today.