Indian stock markets are likely to open higher led by optimism flow after India ranked 100th for the first time in the World Bank’s latest ‘Doing Business’ report.
Indian stock markets are likely to open higher led by optimism flow after India ranked 100th for the first time in the World Bank’s latest ‘Doing Business’ report. The early indicator of NSE Nifty, SGX Nifty Futures was trading 0.31% higher at 10,411.5 points on Singapore Stock Exchange. Shares of Hero MotoCorp and Tech Mahindra will be in watch today ahead of their Q2 earnings. Other Companies which are also slated to announce their second-quarter earnings are Apollo Tyres, Eclerx Services, ENIL, Godrej Consumer Products, Greaves Cotton, Hexaware Technologies, JSW Energy, Max India, Shriram Transport Finance, Tourism Finance Corporation Of India, and TVS Motor.
These stocks will be in focus today
Bharti Airtel: India’s largest telecom company Bharti Airtel today posted 76.5 per cent plunge in consolidated net profit to Rs 343 crore for the September quarter, hit by disruptive pricing of newcomer Reliance Jio and the resulting tariff war.
Escorts: Farm equipment and engineering major Escorts Ltd reported nearly two-and-half fold increase in its standalone net profit to Rs 77.56 crore for the second quarter ended September 30, riding on robust sales.
Container Corporation of India: Container Corporation of India Ltd reported 41.2 per cent rise in standalone net profit to Rs 222.94 crore for the quarter ended September 30, 2017.
InterGlobe Aviation: InterGlobe Aviation-run IndiGo reported a massive spike in September quarter net at Rs 551.5 crore, boosted by a one-time payment towards engine issues and delayed aircraft deliveries and higher margins.
IDBI Bank: State-run lender IDBI Bank reported a net loss of Rs 198 crore in the quarter ended September impacted by rise in the non performing assets. The bank had reported a net profit of Rs 56 crore in the year ago quarter.
JSW Steel: JSW Steel reported 29 per cent rise in its July-September quarter consolidated net profit to Rs 836 crore due to record saleable steel sales aided by lower prices of key inputs, like coking coal.
DB Corp: Media firm DB Corp Ltd reported a 11.12 per cent decline in consolidated net profit at Rs 78.66 crore for the quarter ended on September 30, 2017.
KPIT: IT firm KPIT said its consolidated net profit grew by 6.3 per cent to Rs 59.72 crore for the second quarter ended September 30, 2017.
IIFL Holdings: IIFL Holdings reported a 25 per cent rise in consolidated net profit at 229.1 crore for quarter-ended September 30, this fiscal.
Divi’s Laboratories: Drug firm Divi’s Laboratories reported 7.62 per cent decline in its net profit to Rs 206.78 crore for the second quarter ended September 30, 2017.
Syndicate Bank: State-owned Syndicate Bank reported 27.68 per cent jump in its July-September quarter profit to Rs 105.24 crore on annual basis, notwithstanding rise in bad loans.
Sanofi India: Drug firm Sanofi India reported 40.28 per cent rise in net profit at Rs 116.3 crore for the third quarter ended September 30, 2017.
Symphony: Symphony Ltd reported an increase of 19.16 per cent in its standalone net profit at Rs 50.67 crore for the second quarter ended September 31, 2017.
Indian Rupee on Tuesday: The rupee moved higher by 10 paise to end at a fresh two-week high of 64.75 against US dollar.
Sensex and Nifty closed lower in a dull trading activity on Tuesday as investors keenly awaited the Q2 earnings of India’s largest telecom company Bharti Airtel. The market sentiments were also subdued ahead of US Federal Reserve two-day meeting starting Tuesday, 31 October to 1 November. BSE Sensex washed off 53.03 points or 0.16% to close at 33,213.13 points while NSE Nifty dropped 24.45 points or 0.24% to settle at 10,339.2 points. During the day, the benchmark Sensex shuttled between 33,294.3 points to 33,174.99 points.
A jump in shares of consumer companies Mondelez and Kellogg after their quarterly reports on Tuesday, along with further gains for tech stocks, helped Wall Street end October on a positive note, Reuters reported. The Dow Jones Industrial Average rose 28.5 points, or 0.12 percent, to 23,377.24, the S&P 500 gained 2.43 points, or 0.09 percent, to 2,575.26 and the Nasdaq Composite added 28.71 points, or 0.43 percent, to 6,727.67. “Investors are also awaiting an announcement on the next Federal Reserve chair, which could come this week. President Donald Trump is likely to pick Fed Governor Jerome Powell, who is seen as more dovish on interest rates and thus relatively stock market friendly,” Reuters reported citing unidentified sources.