Produced by: Prashun Talukdar Designed by: Mohsin Shaikh
Decent second-quarter (Q2 FY24) results, which were in line with optimistic estimates, may support domestic benchmarks' rebound, said Vinod Nair, Head of Research at Geojit Financial Services.
On the stock-specific front, Adani Green Energy, KPIT Tech, Jupiter Wagons, Pfizer, Zen Technologies, DLF and some other counters will be in focus today
Shares of Adani Green Energy rose 2.63% to close at Rs 871.50 in the last trading session. The stock will be in focus today as the company will announce its second-quarter (Q2 FY24) results.
Shares of KPIT Technologies settled 0.83% higher at Rs 1,129.20. The company will also declare its Q2 FY24 earnings today.
DLF shares moved 2.38% higher to close at Rs 536. The company is also scheduled to release its Q2 FY24 numbers.
Companies such as Acrow India, DCM Shriram, Filatex India, IFB Industries, Marico, Odyssey Technologies, Procter & Gamble Hygiene and QGO Finance will also announce their respective quarterly results today.
Shares of Reliance Industries rose 0.40% to close at Rs 7,474.55. The Mukesh Ambani-led conglomerate reported a 27% jump in consolidated net profit, at Rs 17,394 crore, for the quarter ending September 30, 2023, boosted by strength in its mainstay oil-to-chemicals (O2C) business.
Shares of Pfizer edged 0.19% up to settle at Rs 3,940.15. The drug firm posted a 52.11% decline in net profit to Rs 148.96 crore for the second quarter ended September.
Shares of NTPC surged 2.12% to settle at Rs 236.55. The state-run company reported a 38% YoY jump in consolidated net profit to Rs 4,726.40 crore for the quarter ended September 2023, up from Rs 3,417.67 crore in the year-ago period.
Shares of Jupiter Wagons jumped 5% to settle at Rs 309.40. The company said it has delivered a 229% growth in Q2 FY24 PAT (Profit After Tax) on a year-on-year basis.
Shares of Zen Technologies soared 4.63% to end at Rs 741.70 on Friday. Zen Tech said its Q2 FY24 profit zoomed 281% (YoY) to Rs 17.34 crore.
Shares of Happiest Minds Technologies rose 2.24% to close at Rs 832. The stock will trade ex-dividend today. The company has declared an interim dividend of Rs 2.5.
Shares of Ramkrishna Forgings moved 2.18% higher to settle at Rs 615.95. The stock will also turn ex-dividend today. Ramkrishna Forgings has announced an interim dividend of Re 1.
"As long as Nifty stays below 19,250, market may continue to be inclined towards selling on any upward movements. On the downside, a resumption of weakness is expected if the index falls below 18,800. This is because put writers are likely to defend the Nifty with substantial positions at 18,800, with immediate support placed at 19,000," said Rupak De, Senior Technical analyst at LKP Securities.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position