Market

Stocks in focus: ACC, Hexaware Tech, RIL, Wipro, BPCL, HUL, Britannia, HDFC Life, L&T Infotech

Oil costs, which dropped for the fourth consecutive day on worries a couple of resurgence of coronavirus instances, and rupee motion will sway the market sentiment.

Nifty futures had been buying and selling 50 factors down at 11,859 on Singaporean Exchange in early commerce on Tuesday, suggesting a weak opening for BSE Sensex and Nifty 50. Factors corresponding to July-September quarter earnings, stock-specific motion, and Finance Minister Nirmala Sitharaman’s remark that indicated that the federal government may unveil one other spherical of financial stimulus at an acceptable time this fiscal, will maintain the traders busy as we speak. Besides, oil costs, which dropped for the fourth consecutive day on worries a couple of resurgence of coronavirus instances, and rupee motion will sway the market sentiment. “Investors would keep a close watch on earnings announcements, developments around Covid vaccine and US stimulus. Investors can use this opportunity to buy on dips in select defensive sectors. Traders are advised to keep booking profits intermittently as volatility may continue for some time,” stated Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus as we speak:

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ACC: Cement maker ACC reported a 20.25 per cent enhance in consolidated web revenue to Rs 363.85 crore for the third quarter ended September 30. The firm follows January-December monetary 12 months and had posted a revenue of Rs 302.56 crore in the identical quarter a 12 months in the past.

RIL: Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, acquired the subscription quantity of Rs 1,837.50 crore from TPG Asia VII SF Pte. Ltd. (TPG)
and allotted 26,932,942 fairness shares to TPG.

Wipro: Wipro introduced that it has received an Application Management (AMS) and Services Integration & Management (SIAM) contract from Fortum. As part of the five-year settlement, Wipro will handle Fortum’s software portfolio throughout lots of of functions.

Hexaware Technologies: Hexaware knowledgeable that buying and selling of its shares on the National Stock Exchange (NSE) will probably be suspended from November 2 on account of voluntary delisting by the IT firm. The admission to dealings in securities of the stated firm shall be withdrawn (delisted) w.e.f. November 9, 2020, it added.

BPCL: BPCL privatisation bid deadline won’t be prolonged for the fifth time, as the federal government’s strategic disinvestment programme that was hit by the pandemic is again on observe, PTI quoted DIPAM Secretary as saying.

HUL, HindZinc: A complete of 26 listed corporations together with Hindustan Unilever Ltd, Larsen & Toubro Infotech, Bombay Dyeing & Manufacturing, CCL Products, DCM Shriram, Hindustan Zinc, Indian Energy Exchange, Kajaria Ceramics, Transglobe Foods and Websol Energy System are scheduled to announce their July-September quarter earnings as we speak.

Britannia Industries: Britannia reported a 22.96 per cent enhance in consolidated web revenue to Rs 495.20 crore for the quarter ended September. The firm had posted a web revenue of Rs 402.73 crore in the July-September interval a 12 months in the past. Total income from operations climbed 12.15 per cent to Rs 3,419.11 crore.

HDFC Life: HDFC Life Insurance Company reported a 6.1 per cent enhance in consolidated web revenue at Rs 327.83 crore for September quarter 2020-21. The life insurer had posted a web revenue of Rs 308.98 crore in the year-ago interval. Total revenue jumped practically 90 per cent to Rs 16,426.03 crore as in opposition to Rs 8,661.33 crore in the second quarter of 2019-20.

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