The Indian equity market remains packed with action as Dr Reddy’s Lab, Titan, Oil India, etc. will release their quarterly results. Also, the investors will be acting on NSE, Gland Pharma, and Bata India’s results.
Meanwhile, Indian markets ended Monday’s trading session on a lower note. The Nifty 50 closed the session 1.27% lower at 23,995. The Sensex ended the session 942 points or 1.18% lower at 78,782. The Nifty Midcap 100 closed the session 712 points or 1.26% lower at 55,785.
“On the positive side, auto companies had better than expected sales in October as the consumer demand was spurred by festive season and discounts offered by OEMs. We expect markets to remain subdued on the back of several global events, consistent FII selling and tepid earnings by domestic companies so far. This week will be crucial as a lot of index heavy weight including will announce results and could lead to stock specific action,” said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services.
Stocks to watch for November 05
National Stock Exchange
The National Stock Exchange (NSE) reported a 57% year-on-year surge in consolidated net profit to Rs 3,137 crore in Q2 FY25. The exchange posted a total income of Rs 5,023 crore during the second quarter of the current financial year, an increase of 25% YoY. The revenue from operations was also supported by other revenue lines, which mainly include clearing services, data centre & connectivity charges, listing services, index services, and data services.
Gland Pharma
Gland Pharma reported a decline in net profit of Q2 FY25 due to lower sales in its Europe business and temporary production issues at its French unit Cenexi. The company reported a consolidated net profit of Rs 164 crore, a fall of 15.7% in Q2 FY25 compared to a year-ago in the same period. Its revenue from operations rose 2.4% to Rs 1,406 crore.
Bharti Airtel
Bharti Telecom, the holding company of Bharti Airtel, has accepted bids worth an aggregate of Rs 11,150 crore ($1.33 billion) through its biggest-ever bond issue, reported Reuters citing three bankers. This is also the country’s biggest corporate bond issue in the current financial year, surpassing State Bank of India’s issue in July, where it had raised Rs 10,000 crore. The bond was largely subscribed by mutual funds,
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