With the Hyundai India IPO set to close on October 17, investors will be watching out for allotment status and the impact of Bajaj Auto’s smart Q2 performance.  Power Finance will also be in focus after its arm gets approval to start business in GIFT City. 

Meanwhile, Indian markets ended Wednesday’s trading session on a lower note. The Nifty 50 was unable to hold 25,000 closing the session 0.34% lower at 24,971 while the Sensex ended the session 319 points or 0.39% lower at 81,501. The Bank Nifty concluded today’s session 105 points or 0.20% lower at  51,801.

“Markets remain in wait-and-watch mode as Q2 earnings roll in. Unabated selling from foreign investors continued for the twelfth straight session, with data showing outflows of nearly $8 billion till October 15, one of the highest, as markets continued to struggle for direction. On the earnings front, it had been a weak start so far after Reliance disappointed, with the market waiting for earnings season to shift into high gear in the coming days,” said Gaurav Garg, Research Analyst at Lemonn Markets Desk.

Stocks to watch for October 17

Reliance Industries

Reliance Industries has fixed October 28 as the record date for the stock split. 

Bajaj Auto 

Bajaj Auto reported a standalone net profit of Rs 2,005 crore in Q2 FY25. The profit of the automobile major rose 9% compared to Rs 1,836 crore reported in the same quarter a year ago. The company’s revenue from operations stood at Rs 13,127 crore, 22% higher on year against Rs 10,777 crore reported a year ago in the same period.

Power Finance Corporation 

Power Finance Corporation’s arm PFC Infra Finance IFSC has received approval from International Financial Services Centres Authority to commence business in IFSC GIFT City, Gujarat. The infra finance company will be the first finance company in IFSC dedicated to power and infrastructure sector lending, said the company in an exchange filing.

Hyundai Motor India IPO

Hyundai Motor India IPO was subscribed 43% on the second day. The company received bids worth Rs 3,790.68 crore while bids from anchor investors were of Rs 8,315.28 crore. The automobile behemoth received bids for 1.93 crore shares against 9.98 crore offered shares. 

Bharti Airtel

Nokia is in talks with Bharti Airtel about securing a multi-billion dollar contract to provide 5G telecom equipment for the Indian mobile operator which is expanding its network, reported Reuters citing three sources. Swedish telecom gear maker Ericsson already won a multi-billion dollar contract from Bharti Airtel, Reuters reported on Monday.

Jio Financial Services

BlackRock Inc., the world’s largest asset manager, is in talks with Jio Financial Services to set up a private credit venture, aiming to tap the expanding direct lending opportunities in India, reported Bloomberg citing sources. The 50-50 joint venture will lend to businesses ranging from large companies to startups. 

Earnings Tomorrow

Infosys, Wipro, Nestle India, LTIMindtree, Polycab India, Indian Overseas Bank, Jindal Stainless, Axis Bank, Havells India, Central Bank of India, Ceat, Geojit Financial Services, Tata Communications, Tata Chemicals, Karur Vysya Bank, Tanla Platforms, Network People Services Technologies, Quick Heal Technologies, Steel Exchange India, Shemaroo Entertainment, Mahindra EPC Irrigation, Moongipa Capital Finance, Manav Infra Projects, Vivanza Biosciences, Sanathnagar Enterprises, Eimco Elecon (India), 5paisa Capital, Dhanlaxmi Bank, ARC Finance, Harshil Agrotech, Continental Securities, Gujarat Lease Financing, Ador Multiproducts, and IGC Foils will be releasing their Q2 earnings on October 16.