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Stocks in focus: RIL, Bharti Airtel, Future Retail, SBI, HDFC Bank, Tata Motors, NTPC, Coforge

A total of 37 companies including Bharti Airtel, Tata Motors, ICICI Prudential Life Insurance Company, Nippon Life India Asset Management, are scheduled to announce their July-September quarter earnings. 

A sustainable move above 13000 levels is expected to bring sharp upside momentum back into action, which could later pull Nifty towards 13500-13600 levels in the near term

Nifty futures were trading 37.50 points up at 11,812 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Tuesday. A host of factors such as second-quarter earnings by index heavyweights, spike in COVID-19 cases, oil prices, rupee trajectory will keep the investors busy today. Also, Prime Minister Narendra Modi is scheduled to inaugurate the national conference on vigilance and anti-corruption via video-conferencing. “Market participants are hoping for some clarity over the US stimulus package before the US election. Amid all, domestic earnings announcements are further adding to the volatility,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Bharti Airtel: The telecom giant is set to announce its July-September quarter earnings later in the day today. Bharti Airtel stock has plunged 46% in the last six months. Brokerages like Citi Research and Bernstein see nearly 60 per cent rally in the stock.

RIL, Future Retail: Kishore Biyani-led Future Retail on Monday hinted at challenging an arbitration order that put a temporary hold on its Rs 24,713-crore deal to sell assets to Reliance Industries. Future Retail said it wasn’t party to the agreement under which Amazon.com had invoked arbitration proceedings.

HDFC Bank: Aditya Puri, Puri, who has led HDFC Bank since inception over 25 years ago, stepped out of HDFC Bank’s corporate headquarters after handing over charge to Sashidhar Jagdishan as the new chief executive and managing director of the largest private sector lender.

State Bank of India: SBI informed that it has raised Rs 5,000 crore by issuing Basel-III compliant bonds. The committee of directors of capital raising met on Monday and accorded its approval to allot 50,000 Basel-III compliant non-convertible, taxable debt instruments.

NTPC: NTPC said its board will on November 2 consider a proposal to buy back the company’s equity shares. Last week, markets regulator Sebi granted an exemption to NTPC from certain buyback norms for the proposed merger of its wholly-owned subsidiaries with the parent company.

SBI Life: SBI Life Insurance reported a 130% jump in its profit to Rs 299.73 crore for the second quarter of the current fiscal. SBI Life said in Q2, it had seen net premium income of Rs 12,857.95 crore, against Rs 10,111.51 crore in the same period last year.

Coforge: HULST BV sold 29 lakh shares of Coforge at Rs 2,310.56 per share and HULST BV bought 9 lakh shares of Coforge at Rs 2,312.03 per share on the BSE. Noida-based software services company was formerly known as NIIT Technologies.

Results today: A total of 37 companies including Bharti Airtel, Tata Motors, Amara Raja Batteries, Castrol India, Ceat, ICICI Prudential Life Insurance Company, Nippon Life India Asset Management, Sanofi India and SKF India are scheduled to announce their July-September quarter earnings.

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