How Did The Fund Flows Fare On Wednesday
Key Stocks In Focus
- TCS: U.S. Dollar revenue growth highest in 24 quarters. Most other parameters other than net profit surpass Bloomberg estimates. Net profit impacted by an exceptional item of Rs 1,218 crore. Announces share buyback at Rs 3,000 per share, a 9% premium to Wednesday’s closing. Declares dividend of Rs 12 per share.
- Wipro: To consider proposal for buyback of equity shares at its board meeting on October 13.
- Bandhan Bank: Says that collection efficiency in September stood at 92% across all loan categories. The lender reported 20% growth in advances over the July-September period while deposits rose 34% year-on-year to Rs 66,153 crore.
- RBL Bank: Advances down 3% in the second quarter while deposits rise 3% year-on-year. CASA deposits up 21% to Rs 20,060 crore. Liquidity Coverage Ratio at 170.7%.
- ICICI Prudential: New Business Premium for the April-September period (H1FY21) down 13.5% to Rs 4,456 crore while Annualised premium equivalent down 32.1% to Rs 2,288 crore.
- Asian Granito: To consider stock split from shares of face value of Rs 10 into shares of face value of Rs 2 each along with a proposal to raise funds though an equity issue on October 23.
- Adani Power: Appellate Tribunal of Electricity has upheld the order of the Maharashtra Electricity Regulatory Commission regarding the allowability of compensation under the change in law. It has also allowed the Adani Power Maharashtra’s appeals related to calculation methodology, extent of shortfall and carrying cost.
- Non-Nifty Earnings Today: Prabhat Dairy, GM Breweries, 5Paisa Capital
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Your Trade Setup For The Day
A Check On Indian ADRs
Weekly Options Expiry Session
Indian equity market maintained its longest winning streak in more than a month as it ended higher for the fifth straight day on Wednesday.
Futures, however, are indicating a flat start to the weekly options expiry session for Nifty and Bank Nifty contracts. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 11,814 as of 8:05 a.m. on Thursday.
Information technology stocks like TCS and Wipro will be in focus in today’s session.
Most markets in Asia are advancing this morning as investors mulled encouraging signs for Joe Biden in the presidential election race and its impact on any potential stimulus.
Markets in Australia are outperforming, while gains are modest in Japan. Hong Kong markets are declining in early trade.
Futures on the Dow Jones are currently trading 90 points higher. The index ended with gains of 1.9% on Wednesday.
West Texas Intermediate crude fell 0.2% to $39.9 per barrel, extending an overnight decline after the U.S. government data showed a rise in crude stockpiles for the first time in four weeks.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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