Nifty futures were trading 34 points or 0.19 per cent up at 17,784 on Singaporean Exchange on Monday, suggesting a positive opening for BSE Sensex and Nifty 50. In the last three days, stock market investors lost over Rs 6.15 lakh crore wealth as the market declined amid weak global cues and persistent selling by foreign funds. Technical analysts said that the market slipped on heavy correction as stretched valuations and mixed cues in other Asian indices gave investors another reason to trim their holdings. “Following back-to-back correction, benchmark Nifty has formed a long bearish candle which clearly suggests the continuation of weakness in the near future. We are of the view that the short-term trend remains weak due to the oversold situation in the market. The weekly trading set up suggests 17800 would be the immediate hurdle for Nifty,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.
IRCTC, Tata Motors, Relaxo Footwears: BSE-listed companies such as Housing Development Finance Corporation (HDFC), Tata Motors, IRCTC, Aditya Birla Capital, Bajaj Consumer Care, Bayer Cropscience, Chambal Fertilisers & Chemicals, Indian Railway Finance Corporation, JBF Industries, Kalyani Steels, Lux Industries, Man Infraconstruction, Mold-Tek Technologies, Mold-Tek Packaging, Nilkamal, Parag Milk Foods, Punjab & Sind Bank, Relaxo Footwears, Rolta India, Rupa & Company, Shipping Corporation of India, Sun Pharma Advanced Research Company, Star Cement, Sterling Tools, Tata Motors – DVR, Venky’s (India), and VRL Logistics, among others were scheduled to announce their Jul-Sep quarter earnings.
DCB Bank: Private sector DCB Bank on Saturday reported a 21 per cent fall in its net profit at Rs 64.94 crore in quarter ended September 2021 of this fiscal.
IDFC First Bank: IDFC First Bank on Saturday reported a nearly 50 per cent jump in standalone net profit at Rs 151.74 crore for the quarter ended September 2021, with the collection efficiency surpassing pre-COVID levels.
Cholamandalam Investment and Finance Company: Cholamandalam Investment and Finance Company has recorded a standalone profit at Rs 606.54 crore for the quarter ending September 30, 2021, the company said on Saturday.
Kirloskar Industries: Windmill power generation firm Kirloskar Industries on Saturday reported 79 per cent jump in consolidated net profit from continuing operations at Rs 134.72 crore for September quarter 2021-22 on the back of higher revenue.
Vodafone Idea: Vodafone Idea on Friday informed the Department of Telecommunications (DoT) about its acceptance of the four-year moratorium for payment of its adjusted gross revenue (AGR) dues.
Future Retail: The Delhi High Court on Friday dismissed Future Retail’s plea seeking a stay on the Singapore arbitration tribunal’s October 21 order that refused to allow Future Group to go ahead with its Rs 24,713-crore merger deal with Reliance Retail.
Adani Group stocks: Adani Group, on Friday, said that it is picking a minority stake in Cleartrip, an online travel aggregator (OTA) owned and operated by e-commerce major Flipkart. The financial details of the deal were not disclosed.
Dr Reddy’s Laboratories: The company reported a consolidated profit after tax of Rs 992 crore, up 30% from Rs 762 crore. The revenues were up 18% at Rs 5,763 crore for the quarter, compared to Rs 4,897 crore in the same period last year.