Expectations that Asia’s third-largest economy won’t take as big of a hit as last year The markets
are likely to open higher on the back of positive global cues and strong corporate earnings. At 08:20 AM, the SGX Nifty indicated a gap-up opening of 81 points at 18,569. Meanwhile, here are the top stocks to focus in trade today:
Hindustan Unilever (HUL):
The FMCG giant shall announce its results during the day. Analysts expect HUL to post low double-digit growth in September quarter revenue between 10 per cent and 15 per cent, while the bottom line may rise by 8-10 per cent on a year-on-year basis. READ PREVIEW HERE
ACC to kick-off September quarter earnings for the sector today. A drop in prices of cement due to weak demand coupled with input cost escalation is expected to keep EBITDA of the domestic cement industry muted for the September quarter, said brokerages.
Other Key Results:
Besides HUL and ACC, ICICI Prudential, JSW Ispat, Jubilant Ingrevia, L&T Technology Services, Mastek, Navin Fluorine International, NELCO, Nestle India, Network 18, Rane Brake Lining, Shakti Pumps and TV18 Broadcast are some of the prominent companies to announce results on Tuesday.
Launched mini SUV Punch at an introductory price of Rs 5.49 lakh.
In a boost to the groups retail plans, the National Company Law Tribunal (NCLT) has allowed Reliance Retail Ventures and Reliance Retail & Fashion Lifestyles to hold extraordinary general meetings (EGMs) of their shareholders and creditors to acquire Future Group’s businesses, setting aside Amazon’s objections. READ MORE
The firm reported a 20.8 per cent YoY increase in consolidated net profit at Rs 551.7 crore for the quarter ended September. Revenue grew 25.6 per cent YoY to Rs 3,767 crore in the latest quarter. READ MORE
Q2 net flat at Rs 1,310.34 crore on a YoY basis, while revenue grew by 15.7 per cent YoY to Rs 12,016.78 crore in the quarter ended September 2021. READ MORE
The country's largest lender has raised Rs 6,000 crore by issuing Basel III compliant bonds.
The Department of Telecommunications (DoT) has asked Bharti Airtel, Vodafone Idea and Reliance Jio to inform the government by October 29 whether they would opt for the four-year moratorium on adjusted gross revenue- (AGR-) related dues, which is part of the relief package approved last month. READ MORE
Meanwhile, Vodafone Idea and smart world and communication business of engineering and construction conglomerate Larsen and Toubro (L&T) have joined hands for a pilot project to test 5G-based smart city solutions.
The Tata Group firm reported a 26.55 per cent YoY jump in consolidated net profit for the September quarter at Rs 53.66 crore, driven by value-added businesses.
Indian Energy Exchange (IEX):
Company’s board to meet on October 21 to consider a proposal for bonus share issue.
Company’s board to meet on October 27 to consider a proposal for sub-division of equity shares.
Equitas Small Finance Bank:
Plans to raise up to Rs 1,000 crore in equity capital by issuing shares to institutional investors to meet minimum public shareholding (MPS) norms. READ MORE
Has bagged Nangalbibra-Bongaigaon inter-state power transmission project worth Rs 324 crore. READ MORE
Adani Ports & SEZ:
Raises Rs 1,000 crore by allotment of secured, redeemable, and non-convertible debentures (NCD) on the private placement basis.
Company’s arm Synerga EMS has received government nod under the Production Linked Scheme (PLI) for manufacturing of telecom and network products under the MSME category.
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