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Indian equity markets are consolidating ahead of the monthly expiry of futures and options contracts on October 31, with the Nifty 50 declining by half a percent on October 30. The index has been trading within the 24,100-24,500 range for a week, and a decisive move above 24,500 could signal upward momentum, while a drop below 24,100 may trigger selling pressure towards the August low of 23,900. Key stocks to watch include L&T, Dabur, Tata Power, and IRB Infra.
On October 31, stocks such as Larsen & Toubro, Biocon, Tata Power, DCM Shriram, Godavari Biorefineries, and Yatharth Hospital are in focus, alongside IRB Infrastructure Developers, Automotive Axles, Wipro, Adani Power, Allcargo Gati, and Torrent Pharmaceuticals. Additionally, Narayana Hrudayalaya, Tata Investment Corporation, BF Investment, BF Utilities, Last Mile Enterprises, Sonalis Consumer Products, and Sudarshan Pharma Industries are set to release their quarterly earnings today.
Tata Power reported a 7% increase in net profit for Q2, reaching Rs 1,093 crore, but fell short of expectations. Revenue from operations slightly declined to Rs 15,698 crore, missing the anticipated Rs 17,522 crore, while the expected net profit was around Rs 1,148 crore.
The second quarter earnings season is underway, with 77 companies set to report their results for the July-September 2024 period today. Notable announcements to watch include those from L&T, Tata Power, and Dabur.
Traders are eyeing key technical levels on the Nifty index following a significant intra-day recovery, with futures indicating a subdued start amid weakness in Asian markets. As Diwali approaches, trading volumes may be low, and sharp reactions to earnings from Larsen & Toubro and Tata Power are anticipated today.
The Indian stock market saw gains for the second consecutive session on October 29, with the Nifty closing at 24,466.80, up 127.60 points, driven by strong performances in the realty and financial sectors. Key gainers included SBI, HDFC Life, and ICICI Bank, while Tata Motors and Maruti Suzuki were among the laggards. In corporate news, Marico and Concor reported in-line quarterly results, while Hitachi Energy experienced a significant revenue increase of 25% year-on-year.
Yes Bank, Tata Power, and Reliance Power experienced significant declines in shareholder numbers, with Tata Power losing over 64,000, Yes Bank 54,000, and Reliance Power more than 47,000. In contrast, Tata Steel gained nearly 800,000 new investors, followed by Tata Motors with 700,000 and Vodafone Idea with 600,000. Other notable increases included IRFC (390,000), NHPC (260,000), and Jio Financial Services (55,000).
Tata Power Green Energy Ltd.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
diwali fireworks absent as nifty faces volatility on expiry day
Tata Power Green Energy Ltd.
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04:29 31.10.2024
stocks to watch on october 31 including larsen and toubro and biocon
Tata Power Green Energy Ltd.
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20:30 30.10.2024
tata power reports seven percent profit growth but revenue falls short
13:29 30.10.2024
seventy seven companies including l and t and tata power report earnings
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market outlook mixed as traders eye earnings and festive sentiment
04:01 30.10.2024
Indian stock market gains as realty and financial sectors lead the way
United States Dollar
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Tata Power Green Energy Ltd.
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03:07 30.10.2024
decline in shareholder numbers for yes bank and tata power
Reliance Industries Limited
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Tata Steel Limited
Vodafone Idea Limited
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05:58 25.10.2024
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