The markets should open on a positive note as indicated by SGX Nifty. However, global signals could weigh on sentiment as higher oil prices continue to weigh on global market sentiment. At 8:20 am, the SGX Nifty indicated an opening spread of 66 points at 18,421. Here are the main stocks to favor in trading today:
Trusted industries: A week after announcing some agreements in the field of renewable energies, the company controlled by Mukesh Ambani is now aiming for global mergers in the same space. READ MORE
Meanwhile, one of the company’s retail divisions, Reliance Brands, has acquired a 40 percent stake in MM Styles Pvt Ltd from famous fashion designer Manish Malhotra, for an undisclosed amount.
HDFC Bank: FY22 second quarter net profit increased 17.6% to Rs 8,834.31 crore from Rs 7,513.11 crore in the prior year period. Total income increased 7.4% to Rs 38,754.16 crore from Rs 36,069.42 crore during the same period.
HCL Technologies: The IT company maintained its forecast for fiscal 22, while reporting 3.9% year-on-year net growth in the second quarter to Rs 3,265 crore and 11.1% year-on-year revenue growth at Rs 20,655 crore for the quarter ended September 2021. READ MORE
Supermarts Avenue (Dmart): Second quarter net profit more than doubled to Rs 448.90 crore for the quarter ended September 2021 from Rs 210.55 crore in the corresponding quarter a year ago. Total income increased 45.7% to Rs 7,682.63 as Rs 5,273.96 crore.
Results today: Alok Textiles, Gujarat Hotels, Hathway Bhawani Cable, Hatsun Argo, Lloyds Steels, Larsen & Toubro Infotech, SVP Global Ventures, Tanfac Industries, Tata Coffee and UltraTech Cement are some of the top companies to report their results.
Indiabulls Real Estate: Reported a doubling of sales worth Rs 874 crore in the first half of the fiscal year. READ MORE
Zen Technologies: The board approved a preferential issue of 42.25 lakh shares valued at Rs 90 crore. Also, issue convertible warrants to promoters to increase Rs 10 crore.
Vodafone idea: The Central Council of Direct Taxes notified a separate rule to settle the long-standing retroactive tax dispute with Vodafone Plc. The new rule gives the telecommunications company 45 days to approach the government for a settlement. READ MORE
NTPC, NLC India: The latter company said it had started supplying coal to NTPC’s Darlipali power plant in Odisha from its Talabira project in Eastern State.
Vikas Lifecare: Net profit soared to Rs 2.5 crore in T2FY22 from Rs 0.31 crore in T2FY21. Total income more than doubled to Rs 67.48 crore from Rs 31.85 crore during the same period.
Indian hotels: With the Company’s board of directors scheduled to meet on October 21, it may reconsider the total total amount to be raised through the rights issue and other fundraising options to complete the rights issue.
Parabolic television: Prepare for a legal battle with YES Bank by planning to move the National Company Law Tribunal to nominate six of its candidates to the board of directors. The company sent a detailed response to YES Bank, claiming the ball is now in its court. READ MORE
Dixon Technologies: Plans to acquire a Ludhiana-based Bharti Group manufacturing unit to begin manufacturing telecommunications equipment as part of the production-related incentive program announced for the sector. The company plans to invest Rs 200 crore under the PLI program. READ MORE
Panchsheel Organic: The Board approves the issuance of free shares in the 1: 1 ratio
Shree Ganesh remedies: The company announces November 02 as the record date for the issuance of free 1: 5 shares.
Aarnav Modes: The company reported a 5.8% year-on-year net increase in T2FY22 to Rs 76.22 lakh, based on a 67.6% year-on-year increase in total income to Rs 10.51 crore.