Reliance Industries, Power Grid, Future Retail, L&T Tech, Britannia Industries stocks in focus

By: |
November 09, 2021 8:32 AM

Nifty futures turned red in early trade, falling 12.50 points to 18,125 on Singaporean Exchange, suggesting a weak start for BSE Sensex and Nifty 50

Reliance, Power Grid, Future Retail, L&T Tech, Britannia Industries stocks in focusnvestors will watch Q2 earnings, foreign fund inflows, oil prices, rupee movement, and other global cues. Image: Reuters

Nifty futures turned red in early trade, falling 12.50 points to 18,125 on Singaporean Exchange, suggesting a weak start for BSE Sensex and Nifty 50. Investors will watch Q2 earnings, foreign fund inflows, oil prices, rupee movement, and other global cues. Analysts say that markets will take direction from a number of macro events due this week including U.S. inflation data and the U.K. GDP data apart from various Federal Reserve speeches. “Further this is the last week of the earnings season which would keep the markets volatile. A lot of stock-specific action would be seen in the market,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.

Stocks to watch

Power Grid Corporation of India, MRF: A total of 160 companies such as Bosch, Mahindra & Mahindra, Power Grid Corporation, Astrazeneca Pharma, BHEL, HEG, Indraprastha Gas, MRF and Petronet LNG among others will release July-September quarter earnings on 9 November.

Reliance Industries Ltd: Reliance Eagleford Upstream Holding, LP a wholly-owned step-down subsidiary of RIL, announced the signing of agreements with Ensign Operating III, LLC, a Delaware limited liability company to divest its interest in certain upstream assets in the Eagleford shale play of Texas, USA. With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America.

Future Retail: The National Company Law Tribunal’s (NCLT) Mumbai bench on Monday stayed an extraordinary general meeting (EGM) convened by Future Retail (FRL) to approve its merger with Reliance Industries (RIL). The tribunal, which heard the case on Monday, stated that FRL cannot hold shareholder meetings, even temporary ones, till it pronounces a detailed verdict.

L&T Tech Services: L&T Technology Services (LTTS), a subsidiary of Larsen & Toubro (L&T), is scouting to acquire companies in North America and Europe, with a ticket size of $50-75 million, to augment its offshore presence. The acquisition is a part of the company’s ‘six big bets’ strategy, which will enable it to touch revenues of $1 billion by the third quarter of next financial year, and further to $1.5 billion by FY25.

Britannia Industries: Britannia Industries reported lower profit at Rs 381.8 crore in Q2FY22 as against Rs 495.2 crore in Q2FY21, revenue increased to Rs 3,607.4 crore from Rs 3,419.1 crore YoY.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Petrol and diesel price today December 9: Rates static; check price in Delhi, Mumbai
2Buy these two stocks for gains while Nifty sits near crucial overhead resistance of 17500-17550
3Nifty needs to hold above 17350 for further upside, support shifts higher to 17250