The Indian market closed higher for the second straight session on Monday led by buying in Reliance Industries, ICICI Bank and a recovery in global markets. Sensex climbed 491 points to 58,410 and Nifty gained 126 points to 17,311. Mid-cap and small-cap indices on BSE rose 65 points and 25 points, respectively. Banking and auto shares were the top sectoral gainers with their BSE indices zooming 718 points and 163 pts, respectively.
ALSO READ: Wall Street ends sharply higher, dollar dips on UK U-turn; Nasdaq up over 3%
Here’s a look at stocks that are likely to remain in news today.
ICICI Lombard, GIC, Schaeffler India, Gujarat Fluorochemicals, Polycab India, L&T Technology Services, Tata Communications, KPIT Technologies, Mahindra CIE Automotive, HFCL, Lloyd Metals & Energy and Praj Industries are among the firms that will announce their earnings for the second quarter today.
Midcap stock ideas: KPIT Tech, Metro Brands among JM Financial’s 7 picks this Diwali
ACC: The cement maker logged a consolidated net loss of Rs 87.32 crore in Q2 due to a steep rise in fuel costs. The company had reported a profit of Rs 450.21 crore for the same quarter a year ago.
Zee Entertainment Enterprise: Invesco Developing Markets Fund will offload a 5.51 per cent stake in the media major in a block trade on Tuesday. The deal will fetch investor as much as $169.5 million. The stake will be sold in a price range of Rs 250-Rs 263.7 per share.
PVR: The film exhibition firm reported a narrowing of consolidated loss after tax at Rs 71.49 crore in the second quarter ended September against a consolidated loss after tax of Rs 153.27 crore in the year-ago period.
HeidelbergCement India: The cement maker reported a fall of 88.23 per cent in net profit to Rs 7.01 crore in the second quarter ended September 30, 2022, citing lower sales volume. The company had reported a net profit of Rs 59.56 crore in the year-ago period.
Tata Coffee: The Tata Coffee beverage firm logged a 172 per cent rise in consolidated profit at Rs 147 crore for the quarter ended September 2022 led by improved performance of plantation and instant coffee businesses and one-time exceptional income on disposal of a non-core property.
Bank of Maharashtra: The state-owned lender reported a two-fold rise in its net profit to Rs 535 crore in the September 2022 quarter led by a decline in bad loans and a rise in net interest income. The lender had reported a standalone profit of Rs 264 crore in the year-ago period.
V-Mart Retail: The fashion retailer will acquire online marketplace LimeRoad to expand its presence in the omni-channel space. The company has inked a business transfer agreement with AM Marketplaces and certain other parties for the acquisition of its LimeRoad business as a going concern on a slump sale basis.
Aster DM Healthcare: The healthcare service provider’s Subsidiary Aster Pharmacies Group has inked a joint venture agreement with Abdulmohsen Al Hokair Holding Group to establish, manage and operate a pharmacy chain across the Kingdom of Saudi Arabia to market and commercialise pharmaceutical products under the ‘Aster Pharmacy’ brand.
HDFC: The National Stock Exchange is likely to exclude HDFC from the Nifty index in the next few weeks since the merger of HDFC and HDFC Bank may be completed a few months earlier than expected, according to reports. Pidilite and Ambuja Cements are among the top contenders to replace HDFC on Nifty.
