Broader markets exhibited strength at current levels, primarily in anticipation of healthy overall second-quarter (Q2 FY24) results, said Vinod Nair, Head of Research at Geojit Financial Services.
On the stock-specific front, IRCON International, RITES, HDFC Life, Paytm, Advance Lifestyles, MRP Agro, RMC Switchgears, Sun Pharma, Infosys, HCL Technologies and some other counters will be in focus today.
Shares of IRCON International fell 0.80% to close at Rs 135.85 in the last trading session. The stock will be in focus today as the government has granted the Navratna status to the state-owned firm. IRCON is the 15th Navratna amongst the CPSEs (Central Public Sector Enterprises) with an annual turnover of Rs 10,750 crore and net profit of Rs 765 crore, on Consolidated basis, for the year 2022-23.
Shares of RITES shed 0.63% to end at Rs 473.45. The Centre has decided to grant Navratna status to the engineering consultancy firm. In addition, the company's board said it may consider payment of second interim dividend.
Shares of One 97 Communications (Paytm's parent) slipped 1.47% to settle at Rs 957.60. Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5.39 crore on Paytm Payments Bank for non-compliance.
Shares of HDFC Life Insurance Company rose 0.49% to close at Rs 624.65. The company will report its second-quarter (Q2) earnings for the financial year 2023-24 today.
Other companies such as Amal, Artson Engineering, Aditya Birla Money, Den Networks, Gala Global Products, Gujarat Hotels, Hathway Bhawani Cabletel Datacom, Sai Silks (Kalamandir), Premier Capital Services, Som Distilleries & Breweries, S&T Corporation, Tata Steel Long Products and Vivanta Industries will also announce their respective quarterly results today.
Shares of Advance Lifestyles settled with 1.98% gains at Rs 123.70. The stock will trade ex-bonus today in a 1:1 ratio.
MRP Agro shares dived 3.86% to close at Rs 133.40 on October 12. The stock will also go ex-bonus in a ratio of 2:1. Bourses BSE and NSE have put the securities of MRP Agro under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
Shares of Sun Pharmaceutical Industries edged 0.17% higher to settle at Rs 1,130.55. The company has presented 'Phase-4 data' showing that CEQUA (cyclosporine ophthalmic solution) 0.09% induces sustained improvement in the signs and symptoms of dry eye disease.
Shares of RMC Switchgears rose 1.24% to end at Rs 780.80. This stock will too trade ex-bonus today in a ratio of 1:2.
Infosys shares fell 1.95% to close at Rs 1,464.55. The stock will react to the second-quarter (Q2 FY24) results and other company updates. The IT firm has reported 3% year-on-year (YoY) rise in its net profit. Although, Infosys had cut the upper end of its annual revenue outlook, raising concerns about near-term demand. Further, the company and Temasek have extended their joint venture for five years.
Shares of HCL Technologies fell 1.74% to close at Rs 1,224.05. The company has reported a 9.8% rise in Q2 FY24 profit, helped by a robust deals. The IT firm, however, trimmed its full-year outlook for revenue growth.
Nifty witnessed a range bound activity near the 20-day SMA (Simple Moving Average) and has formed a small candlestick formation, said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities. For traders, 19,750-19,700 will be key support levels while 19,850-19,900 will act as important resistance areas, he mentioned.
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