Indian benchmark indices are likely to open lower as SGX Nifty fell 122 points to 17,952 level amid weak global cues.
Benchmark indices ended lower on Tuesday, tracking losses in index-heavyweights HDFC twins, Kotak Bank and Bajaj Finance, despite a positive trend in global markets.
After a volatile trading session, Sensex ended 112.16 points or 0.19 per cent lower at 60,433.45. Nifty fell 24.30 points or 0.13 per cent to 18,044.25.
Here are the stocks that are likely to be in focus today.
HDFC: Housing Development Finance Corporation (HDFC) on Tuesday said it will raise Rs 3,000 crore by issuing bonds on a private placement basis.
The issue for the secured redeemable non-convertible debentures (NCDs), bearing a coupon rate of 7.10 per cent per annum, will open for subscription on November 11, 2021, and close on the same day.
Mahindra & Mahindra: Homegrown automaker Mahindra & Mahindra (M&M) said it plans to launch 13 new SUVs by 2027, out of which eight are slated to go electric. The Mumbai-based firm said that Bolero, Scorpio, XUV and Thar will be its key focus areas going forward. “These will be our core brands but it doesn’t mean we’ll discontinue other brands.
Bolero, Scorpio, XUV and Thar will be a core part of our brand architecture. There’s a wide range (including electric) which is at different stages of production which will make our product portfolio very exciting and a new electric brand,” Rajesh Jejurikar ED, AFS (Automotive and Farm Sector), M&M said. Out of the company’s eight new electric SUV launches, four will be completely new launches and the rest will be derived out of existing products.
JSW Steel: Domestic steel giant JSW Steel’s crude steel production stood at 14.25 lakh tonnes on a standalone basis in October. The average capacity utilisation for the month was at 95 per cent.
Crude steel production grew 6 per cent on a month-on-month basis, with September production at 13.43 lakh tonnes. On a year-on-year (YoY) basis, production for October 2021 grew 6 per cent.
JSW Steel said that crude steel or pig iron production from the phase 2 expansion project during October 2021 was considered as trial production and it’s not part of the production numbers for October 2021.
Power Grid Corporation Of India: The company reported a consolidated profit of Rs 3,376.4 crore in Q2FY22 against Rs 3,094.1 crore in Q2FY21. Revenue increased to Rs 10,266.98 crore from Rs 9,529.68 crore on a YoY basis.
Petronet LNG: The company reported a consolidated net profit of Rs 817.6 crore Q2FY22 against Rs 919.5 crore in Q2FY21. Revenue jumped to Rs 10,813 crore from Rs 6,235.8 crore on a YoY basis.
Zomato: The company will announce its earnings for the quarter ended September 2021.
