Stocks in focus: RIL, ITC, Cipla, SBI, Adani Power, Indiabulls Housing Finance, Ashok Leyland

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November 06, 2020 8:43 AM

A total of 219 listed companies including ITC, Cipla, Ashok Leyland and Tata Consumer Products will announce their July-September quarterly earnings today.

US Stocks, Covid-19 restrictions, stock markets, technology and industrial companies, teslaThe more closely a company interacts with individual American consumers, the more pressing are matters of Covid-19 restrictions.

Nifty futures were trading 29.50 points down at 12,145.50 on Singaporean Exchange, indicating a gap-down opening for BSE Sensex and Nifty 50 on Friday. Asian markets were also trading mixed in the early deals. Besides, Federal Reserve kept its loose monetary policy intact and pledged again to do whatever it can in coming months to sustain a US economic recovery losing speed and facing uncertainty over a still-undecided presidential election. Market participants will continue to eye US presidential election outcome, July-September quarter earnings, oil prices and other global cues. “The way the benchmark indices have surged of late, it seems that participants have already priced in the possibility of a clear winner in the US elections while the counting is still underway. We suggest maintaining a positive yet cautious approach and continuing with the stock-specific trading approach. Also, keep a close watch on global markets and earnings announcements for cues,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Stocks in focus today:

Reliance Industries: RIL shares will remain in focus today after the company bagged ninth investment for its retail business. The Public Investment Fund of Saudi Arabia will invest Rs 9,555 crore in the company for an equity stake of 2.04 per cent.

ITC, Cipla: A total of 219 listed companies including ITC, Cipla, Ashok Leyland, Bank of India, Union Bank of India, Vedanta, BHEL, Glenmark Pharmaceuticals, MRF, Quick Heal Technologies, REC, SAIL and Tata Consumer Products will announce their July-September quarterly earnings today.

SBI: State Bank of India NSE 5.63 % (SBI) has the financial strength to withstand tough operating conditions in the next 12 months due to its strong deposit franchise and liquidity, global rating agency S&P on Thursday said.

Adani Power: Adani Power reported a net profit rise of Rs 2,228.1 crore on a consolidated basis in the July-September quarter, from the profit of just Rs 3.9 crore posted in the corresponding period a year ago.

Indiabulls Housing Finance: Mortgage lender Indiabulls Housing Finance disclosed on exchanges that its board will meet on November 11 to consider its fundraising programme. The board will consider fundraising by way of bond issuances in one or more tranches.

Godrej Consumer Products: GCPL reported an 11 per cent on-year increase in its net profit at Rs 458.02 crore for the quarter ended September 30 on the back of higher sales.

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