Stocks in focus: RIL, ICICI Bank, Hero Motocorp, Maruti Suzuki India, Banking shares

By: |
November 2, 2020 8:30 AM

With the results season underway and domestic economic indicators hinting at a recovery from the economic woes of the pandemic, investors can find a number of stock specific trades in the current market environment.

Stock Market UpdatesDomestic benchmark indices might continue to remain volatile and lack direction ahead of the US Presidential Elections that may stretch longer than usual this time

Domestic benchmark indices might continue to remain volatile and lack direction ahead of the US Presidential Elections that may stretch longer than usual this time. However, this should not stop investors from looking for stock and sector specific trades. With the results season underway and domestic economic indicators hinting at a recovery from the economic woes of the pandemic, investors can find a number of stock specific trades in the current market environment. Here are some of the key stocks to watch out for during the day’s trade.

Reliance Industries Ltd: The oil-to-telecom major posted a 6.6% fall in net profit during the last quarter of this fiscal year. RIL recorded a fall in revenue from all but the financial services and digital services arm. The results could impress the street seeing that the consumer facing businesses of RIL have been gaining steam.

Banking stocks: The Supreme Court will today hear the loan moratorium case. The apex court could announce its verdict which may favour the lending institutions of the country. This is likely to keep investors on their feet.

Hero Motocorp: The two-wheeler manufacturer informed the bourses that it sold more than 8 lakh motorcycles and scooters in the month of October. The sales figures are up 35% on-year basis for Hero Motocorp Ltd.

ICICI Bank: Private sector lender ICICI Bank reported 549% on-year jump in net profit for the July-September quarter. Standalone net profit was at Rs 4,251 crore as net interest income for the bank surged 16% on-year. ICICI’s total advances increased 6% from the previous year to Rs 6.53 lakh crore from Rs 6.13 lakh crore. 

Maruti Suzuki India: India’s biggest car manufacturer said that its sales in the month of October stood at 1.82 lakh, which is 18.9% higher than what the company sold in the same period last year. Largest demand was seen in the compact models that Maruti Suzuki offers. 

Equitas Small Finance Bank: The largest small finance bank of the country will list on the bourses today and investors will be glued to the screens mapping the trajectory that the stock takes. The IPO of Equitas Small Finance Bank was subscribed 1.95 times.

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