How Did The Fund Flows Fare On Tuesday
Key Stocks In Focus
- Wipro: The company has pegged Dollar revenue growth guidance for the third quarter between 1.5%-3.5% which is higher than the estimates of 0-3%. Constant currency growth of 2% was at the higher range of the estimates of 0-2%. The board has announced a share buyback worth 9,500 crore rupees. Promoters and promoter group has also expressed intentions to participate in the buyback exercise. The buyback price of 400 rupees per share is a 6.5% premium to Tuesday’s closing and it has entered into an agreement to acquire Eximius Design and its Indian arm for $80 million Dollars.
- Tube Investments: Gets approval from Competition Commission of India to acquire shares of CG Power.
- Adani Green Energy: Gets approval from Competition Commission of India to acquire solar energy generation assets through its JV with Total Solar, Singapore.
- Punjab and Sind Bank: Three NPA accounts worth 133.46 crore declared as fraud. Bank has made 100% provisioning as per the prudential norms.
- Wockhardt: Board has approved redemption of certain preference shares before its due date.
- Nifty Earnings Today: Infosys
- Non-Nifty Earnings Today: Aditya Birla Money, CHD Chemicals, Den Networks, Goa Carbon, Tata Elxsi, Tata Steel BSL, Titagarh Wagons
To know more about the stocks in focus, key brokerage reports, earnings after market hours and F&O cues, click here.
Your Trade Setup For The Day
A Check On Indian ADRs
Exhaustion At Higher Levels?
Indian equity markets ended higher for the ninth straight day on Tuesday, extending their longest winning streak in two-and-a-half years.
While the benchmarks have not dropped for a single day in the October series so far, the rally may pause as indicated by futures in today’s session.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.4% to 11,897 as of 8:20 a.m. on Wednesday.
Stocks like Wipro and Karnataka Bank will be in focus on the back of their quarterly earnings, while IRCTC may react to a positive brokerage report.
Infosys will become the third Nifty company to report results later today.
Asian markets have opened lower in mid-week trading, following their wall street counterparts, which declined on Tuesday. Stocks in Japan and South Korea have slipped, while those in Australia are little changed.
Futures on the Dow Jones are trading higher by 50 points. The index ended 0.6% lower on Tuesday.
West Texas Intermediate crude was flat at $40.23 per barrel, as was gold, which traded at $1,889.6/Oz.
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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