Analysts expect that a supportive judgement from the Supreme Court and continuity of the good second-quarter results for the current fiscal will help India to add more traction
Markets are closely following global cues and indications are still mixed from that front
Nifty futures were trading 19.50 points up at 11,981.5 on Singaporean Exchange, suggesting a muted start for BSE Sensex and Nifty 50 on Thursday, following a 10-day rally. Market participants will watch stock-specific developments induced from corporate earnings, trends in COVID-19 cases, Infosys’ Q2 results, oil prices, rupee trajectory and other global cues. Analysts expect that a supportive judgement from the Supreme Court and continuity of the good second-quarter results for the current fiscal will help India to add more traction.
Infosys: Infosys posted better-than-expected earnings in the second quarter. Net profits were up 14.4 per cent sequentially at Rs 4,845 crore while operating income rose 16.1 per cent to Rs 6,228 crore. Rupee revenues grew 3.8 per cent sequentially while margins jumped 2.7 per cent on a sequential basis to 25.3 per cent.
Titan Company: Big bull of market Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala sold 50,000 shares of Titan Company in the quarter ending September 30, according to a latest BSE filing.
PVR, Inox Leisure: Multiplexes and entertainment stocks will remain in focus today as cinemas in most parts of the country are set to re-open from Oct 15 following a seven-month closure to contain the COVID-19 pandemic.
Likhitha Infrastructure debuts today: Likhitha Infrastructure’s initial public offer (IPO), which was subscribed 9.51 times, is set to debut on the stock exchange today. IPO of the company was extended by two days and the price band was also revised lower to Rs 116-120 per share.
Lakshmi Vilas Bank: Earlier this week, LVB informed that its board will meet on October 15, 2020, to consider issuance of shares on rights basis to existing shareholders. “A meeting of the board will be held Thursday, October 15, 2020, to consider and approve the issue of securities of the bank to existing shareholders of the bank on the rights issue,” it said in a regulatory filing.
Tata group stocks: Tata Group is in talks to tie up with Indian online groceries unicorn Big Basket, as the conglomerate attempts to catch up with rivals, including Amazon and Mukesh Ambani’s rapidly expanding retail empire, the Financial Times reported on Wednesday.
Hindustan Zinc:Vedanta Group firm Hindustan Zinc Ltd (HZL) on Wednesday said it has signed a pact with the Gujarat government to set up a greenfield zinc smelter in the state. The project will entail an investment of up to Rs 10,000 crore.