Trending Stocks: PNB, TATA, L&T and others in news today

The Indian stock market is anticipated to begin in the green, with the SGX Nifty indicating a 30-point rise for the index in India. The Sensex dropped 456 points to 61,260 on October 20, while the Nifty50 retreated 152 points to 18,266.60. The market was dragged down by auto, FMCG, metal, pharma, and IT companies. On the daily charts, the Nifty50 produced a bearish candle because the close was lower than the opening.

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The pivot charts show that the Nifty’s major support levels are around 18,164.5, followed by 18,062.4. If the index continues to rise, the important resistance levels to monitor are 18,413.5 and 18,560.4.

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Top stocks in focus today:

PNB Housing Finance 

On November 2, the firm would explore issuing non-convertible debentures in tranches of Rs 2,000 crore through a private placement.

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Tata Communications 

The company recorded a higher consolidated profit of Rs425.38 crore in Q2FY22 compared to Rs384.48 crore in Q2FY21, but revenue decreased to Rs4,174 crore from Rs4,401 crore year on year.

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Results on October 21 

Asian Paints, JSW Steel, Biocon, 63 Moons Technologies, Agro Tech Foods, Borosil Renewables, Can Fin Homes, CG Power and Industrial Solutions, Container Corporation of India, ICICI Lombard General Insurance Company, IDBI Bank, Indian Energy Exchange, IIFL Securities, Indian Hotels, IndiaMART InterMESH, Duncan Engineering, Gateway Distriparks, Heritage Foods, Jubilant Industries, Lemon Tree Hotels, LIC Housing Finance, Bank of Maharashtra, Mphasis, Music Broadcast, Rane Engine Valve, Sasken Technologies, South Indian Bank, Sterlite Technologies, Tanla Platforms, Trident, TVS Motor Company, and VST Industries will release September quarter earnings on October 21.

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L&T Finance Holdings 

The company reported a lower consolidated profit of Rs224.03 crore in Q2FY22 compared to Rs265.12 crore in Q2FY21, while revenue decreased to Rs3,051.82 crore from Rs3,408.10 crore year on year.

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Angel Broking 

The company reported a greater consolidated profit of Rs134.2cr in Q2FY22 compared to Rs74.5cr in Q2FY21, while sales increased to Rs527.34cr from Rs309.85cr year on year.

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Varroc Engineering 

On October 19, HDFC Asset Management Firm bought a 0.58 percent interest in the company through open market transactions, boosting its shareholding to 5.11 percent from 4.53 percent before.

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INEOS Styrolution India

On October 18, Nippon Life India Trustee sold 50,000 equity shares in the business through open market transactions, lowering ownership to 2.97 percent from 3.26 percent before.

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Prince Pipes and Fittings

South Asia Growth Fund II Holdings LLC sold 22.12 lakh equity shares in the business through open market transactions, lowering its ownership to 3.65 percent from 5.66 percent before.