"Persistent geopolitical tensions continue to weigh down the sentiment on equity. Yet, the mid- and small-cap index witnessed bargain hunting ahead of festival-driven demand and optimistic quarterly results," said Vinod Nair, Head of Research at Geojit Financial Services.
On the stock-specific front, Bajaj Finance, Tata Elxsi, Jio Financial, HDFC Bank, Lemon Tree, Data Patterns, Caspian Corporate Services, Gensol Engineering, Glenmark Life Sciences, Kama Holdings and some other counters will be in focus today
Shares of Jio Financial Services rose 0.27% to close at Rs 224.85 in the last trading session. The stock will be in focus today as the company's quarterly profit doubled from the previous quarter. Consolidated profit after tax for the September 2023 quarter rose to Rs 668 crore from Rs 332 crore in the June quarter, JFS said in a regulatory filing
Shares of HDFC Bank shed 0.47% to end at Rs 1,529.50. The private lender reported a 51% increased in its standalone net profit, at Rs 15,976 crore, for the July-September (Q2 FY24) quarter. It posted standalone net profit of Rs 10,606 crore in the year-ago period
Shares of Bajaj Finance slipped 0.21% to settle at Rs 8,032.75. The shadow lender will anounce its Q2 FY24 earnings today
Shares of Tata Elxsi rose 0.40% to close at Rs 7,474.55. The company will also report its second-quarter (Q2) earnings for the financial year 2023-24 today. Another Tata Group company, Tata Metaliks, will come up with its quarterly results today
Companies such as Artemis Electricals and Projects, Atharv Enterprises, Benaras Hotels, Can Fin Homes, CIE Automotive India, Happiest Minds Technologies, IIFL Securities, L&T Technology Services and Zensar Technologies will also announce their respective quarterly results today
Shares of Data Patterns settled with 1.69% losses at Rs 1,995.15. The company has announced a licensing agreement with IN-SPACe, an autonomous agency in the Department of Space (DoS). This agreement will provide Data Patterns with miniature SAR Radar capability, it said
Lemon Tree Hotels shares rose 1.24% to close at Rs 122.05 on October 16. The company has announced its latest signing with Keys Prima. The property is expected to open by FY27 and shall be managed by Carnation Hotels, it stated
Shares of Caspian Corporate Services tanked 4.20% to end at Rs 39.66. This stock will trade ex-dividend today. The company has announced a final dividend of 5 paise. Bourses BSE and NSE have put the securities of Caspian Corporate 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 Gensol Engineering rose 1.34% to settle at Rs 2,405.15. The stock will trade ex-bonus today in a 2:1 ratio.
Glenmark Life Sciences shares settled with 2.67% gains at Rs 667.90. The company will turn ex-dividend today. It has announced an interim dividend Rs 22.5.
Shares of Kama Holdings fell 1.14% to close at Rs 16,084.55. The stock will trade ex-bonus today in a ratio of 4:1.
"Nifty remained sideways as market participants stayed on the sidelines ahead of scheduled speech by the US Federal Reserve chairman on Thursday. Over the near term, the index may experience volatility, with support placed at 19,700. A drop below 19,700 may take the index toward the range of 19,600-19,550. However, the 'buy on dips' strategy is expected to remain the preferred approach as long as it sustains above 19,550," said Rupak De, Senior Technical analyst at LKP Securities.
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