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Market Round-up :
Market Review & News:
First up, here is quick catchup of what happened in the markets on Thursday
Domestic stock markets settled on a red note on Thursday. The Sensex finished 173 points lower at 39,749.85, while the Nifty50 index closed at 11,670.80, down 59 points. Barring IT index, all sectors closed in the red. Broader markets underperformed the benchmarks, by closing up to 1 percent lower. L&T and Titan were the index top losers, down up to 5 percent. Asian Paints, UltraTech Cement, Shree Cements, HCL Tech and Kotak Mahindra Bank were among major gainers on the Nifty, while losers were L&T, Titan Company, ONGC, Adani Ports and Tata Motors.
The Indian markets opened higher on Friday following mixed trends in the Asian peers. At 10.30 am, the SGX Nifty was trading 63.75 points or 0.53 percent but subsequently and immediately plunged into negative territory.
Reliance Industries Ltd | The company will announce Q2FY21 earnings today. Goldman Sachs expects the petchem EBITDA to rise 28 percent, QoQ. It believes that both telecom and retail business are at the cusp of a strong growth period. Nomura expects a 29 percent QoQ growth in Reliance Retail revenues and a 55 percent growth in EBITDA.
Vodafone Idea | The company’s net loss in Q2FY21 narrowed to Rs 7,218.2 crore from Rs 50,897.9 crore, YoY. Revenue fell 3 percent to Rs 10,830.5 crore from Rs 11,146.4 crore YoY. The average revenue per user (Arpu) increased to Rs 119 from Rs 107 in Q2FY20 and Rs 114 in Q1FY21.
TVS Motor Company | The company’s net profit in Q2FY21 fell 23.1 percent to Rs 196.2 crore from Rs 255 crore while revenue rose 5.9 percent to Rs 4,605.5 crore from Rs 4,347.8 crore, YoY.
Canara Bank | The bank’s net profit in Q2FY21 rose 21.7 percent to Rs 444.1 crore from Rs 364.9 crore while net interest income jumped to Rs 6,296 crore from Rs 3,129 crore, YoY.
HPCL | The company will consider a share buyback on November 4.
Hindustan Copper | The company’s board has approved raising up to Rs 2,500 crore via debt.
Tata Chemicals | The company’s net profit in Q2FY21 fell 64 percent to Rs 132.1 crore from Rs 367.3 crore while revenue declined 5.8 percent to Rs 2,609.3 from Rs 2,771.3 crore, YoY).
Today awaited: Earnings | Reliance Industries, IndusInd Bank, Indian Oil Corporation, DLF, UPL, Deepak Nitrite, Dixon Technologies (India), Edelweiss Financial Services, Emkay Global Financial Services, Jindal Steel & Power, Jindal Stainless, Just Dial, Mahindra Lifespace Developers, Mahindra Logistics, Max Financial Services, Motilal Oswal Financial Services, NIIT, Quess Corp, Vakrangee, Zee Media Corporation, among others.
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