ITC, IndusInd Bank, HUL, Vodafone Idea, NDTV, Axis Bank, Asian Paints stocks in focus on weekly F&O expiry | The Financial Express

ITC, IndusInd Bank, HUL, Vodafone Idea, NDTV, Axis Bank, Asian Paints stocks in focus on weekly F&O expiry

Indian benchmark indices BSE Sensex and NSE Nifty 50 are expected to open on a negative note on weekly F&O expiry day. Ahead of the session, SGX Nifty was in red with Nifty futures trading 0.7% down at 17376.

ITC, IndusInd Bank, HUL, Vodafone Idea, NDTV, Axis Bank, Asian Paints stocks in focus on weekly F&O expiry
ITC, IndusInd Bank, HUL, Vodafone Idea, NDTV, Axis Bank, Asian Paints stocks in focus on weekly F&O expiry

Indian benchmark indices BSE Sensex and NSE Nifty 50 are expected to open on a negative note on weekly F&O expiry day. Ahead of the session, SGX Nifty was in red with Nifty futures trading 0.7% down at 17376, signalling a gap-down start for domestic equities. “Indications are pointing towards some consolidation in Nifty and it would be healthy. Meanwhile, the performance of the global indices, especially the US, will remain on the radar. Since all sectors are contributing to the move, the focus should be more on stock selection, keeping in mind the prevailing earnings season,” said Ajit Mishra, VP – Research, Religare Broking.

Stocks in focus on 20 October, Thursday

NDTV: The Adani Group said on Wednesday that the firm is committed to completing its earlier announced open offer to acquire a 26% stake in New Delhi Television (NDTV) and has asked market regulator for comments. Vishvapradhan Commercial Private (VCPL) re-affirms its commitment to complete the open offer process, and Sebi has been requested to provide its observations on the draft letter of offer filed, Adani Enterprises (AEL) said in a regulatory update. VCPL is an indirect subsidiary of AEL.

Also Read: Reliance Industries Q2 results preview: Jio, Retail likely to drive bumper net profit, O2C biz to be muted

IndusInd Bank: IndusInd Bank on Wednesday reported a 60% on-year jump in its net profit for the second quarter of the current financial year to Rs 1,787 crore on account of lower provisions, which declined 33% on-year to Rs 1,141 crore as the asset quality improved. The bank’s pre-provisioning operating profit (PPOP) improved 11% to Rs 3,520 crore, aided by a 9% increase in other income, which stood at Rs 2,011 crore.

Vodafone Idea: Vodafone Idea’s (VIL) board will consider a proposal on Friday for issuance of convertible debentures on a preferential basis to a vendor. While the company did not name the vendor in its regulatory filing on Wednesday, the announcement comes days after Indus Towers, one of its key vendors, had written to the company to clear its outstanding dues or lose access to the towers by November-end. It had also asked VIL to pay on time every month for continuity of business post-November.

Bharat Electronics: Triton Electric Vehicle India, a part of Triton Electric Vehicle LLC, USA, has issued a Letter of Intent to Navratna defence PSU Bharat Electronics for 300 KW Li-ion battery packs for its semi-truck project in India at value of Rs 8,060 crore. The battery packs will be delivered by the company to Triton in 24 months commencing from January 2023.

Tata Communications: Tata Communications is ready with its 5G offerings. Having seen interest from some enterprises for its 5G offerings, the company believes that the penetration of 5G will speed up as clients start realising the potential of good return on investments from it. “We are ready with our POCs (proof of concepts of 5G solutions), we are ready with our use cases, Kabir Ahmed Shakir, CFO of Tata Communications told FE.

Piramal Pharma: Piramal Pharma (PPL), which got listed on the bourses on Wednesday, has earmarked a capex of about Rs 1,200 crore over the next 24 months, even as it is not looking to raise funds from private equity firms. PPL chairperson Nandini Piramal said, “We’ll do a brownfield capex of about Rs 1,200 crore to expand capacity over the next two years, as we have already done some expansion over the last two years. We should see capacity expansion in new products.”

Also Read: Stocks to buy on Diwali 2022: HCL Technologies, SBI, Shree Cement among top picks, shares may rally over 20%

Q2 results on October 20: ITC, Asian Paints, Axis Bank, Bajaj Finance, Tata Consumer Products, Colgate Palmolive, Aarti Drugs, Canara Bank, Central Bank of India, Clean Science and Technology, Coforge, Dixon Technologies, Happiest Minds Technologies, ICRA, Indian Energy Exchange, ICICI Securities, L&T Finance Holdings, Mphasis, Nazara Technologies, Shriram Transport Finance, Symphony, Tanla Platforms, United Breweries, Union Bank of India, and UTI Asset Management Company will be in focus ahead of September FY23 quarter earnings on October 20.

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First published on: 20-10-2022 at 07:09 IST