News Shots
LIC buys 0.97% stake in JSW Steel. Total stake raises to 3.40% from 2.43% in September quarter.
L&T wins Rs 25,000 crores contract for Mumbai-Ahmedabad bullet train project.
HDFC Life reported a 6 percent YoY increase in its profits in the September quarter.
Britannia Industries reported a consolidated net profit of Rs 495.20 crore for the quarter ended September, up 23 percent from a year ago.
ACC Ltd has reported a 19.8 per cent year-on-year (YoY) growth in consolidated profit after tax at Rs 364 crore during the July-September quarter.
Mahindra and Mahindra announced increasing production of its all-new Thar SUV substantially after its bookings crossed 15,000 units since the launch of the vehicle.
Hero MotoCorp launched a new edition of its iconic Splendor motorcycle priced at Rs 64,470 (ex-showroom Delhi).
BPCL privatisation bid deadline will not be extended for the fifth time, as the government’s strategic disinvestment programme that was hit by the pandemic is back on track, DIPAM Secretary said Monday.
Raw Pressery, known for its premium cold-pressed juices, is in talks with multiple packaged consumer goods firms, including ITC and the Paper Boat brand, for either divesting stake or getting on board a strategic investor for the juices division.
CSB Bank (Catholic Syrian Bank) reported a three-fold rise in its net profit at Rs 68.9 crore at the end of the September quarter on the back of strong asset growth.
Century Textiles and Industries reported a consolidated net loss of Rs 10.35 crore for the quarter ended September 2020. The company had posted a net profit of Rs 187.34 crore in the July-September period a year ago.
Kalyan Jewellers gets SEBI’s go-ahead to float Rs 1,750 crore IPO.
Some Major Q2 Results Announcements Today:
- Hindustan Unilever
- Crisil
- L&T Infotech
- Hindustan Zinc
- DCM Shriram
- Granules India
- Indian Energy Exchange (IEX)
What to expect today?
Yesterday we saw NIFTY consolidating between 11,800 and 11,900. Click here for a detailed analysis of yesterday’s market and stock movements.
Bank Nifty shot up from 23,800 to 24,300, thanks to almost all the banks taking positivity from HDFC Bank’s result and thus, moving up.
NIFTY is trading well within a range. Today, breaking 11,800 on the lower side can lead to further falls and breaking 11,900 on the higher side can lead to further highs.
RELIANCE, IT, Auto, Pharma have been underperforming for the last few days. It is just about time that they turn around and start moving up.
Global cues are getting better. A major update regarding the US economic stimulus is expected this week. Next Presidential Debate is scheduled for October 22, Thursday. Still, the US markets are down by more than 1.5% which is a matter of concern.
US Markets have closed lower. Europe is also down. Asian markets are also mostly down. Dow Futures are trading nearly 0.3% up. SGX NIFTY is trading at 11,859, which is 50 points lower, indicating a gap down opening in the Indian Market.
NIFTY is likely to trade between 11,750 and 11,900. There is support at 11,800, 11,780 and 11,750 and resistance at 11,830 and 11,870.
Highest Call Open Interest at 12,500, followed by 12,000. Highest Put Open Interest at 11,000, followed by 11,500.
Foreign institutional investors (FIIs) net bought shares worth Rs 1,656.78 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,621.73 crore.
Reliance, IT, FMCG and Banks to be in focus.
As I said in yesterday’s “The Stock Market Show”, there is a fight between mixed global cues vs positive local cues. If something positive comes from the US regarding the stimulus or the election, that can help NIFTY in the cause of reaching 12,000. All the best for the day!