The Indian stock market is anticipated to begin in the green, with the SGX Nifty indicating a 40-point rise for the index in India. On October 25, the BSE Sensex increased 145.43 points to close at 60,967.05, while the Nifty50 rose 10.50 points to 18,125.40 and produced a bearish candle on the daily charts that resembled a Hammer pattern formation.
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According to pivot charts, the Nifty’s critical support levels are 17,982.13, followed by 17,838.87. If the index continues to rise, the important resistance levels to monitor are 18,255.03 and 18,384.67.
Top stocks in focus today:
Tech Mahindra
The company has reported a lower profit at Rs 1,338.7 crore in Q2FY22 against Rs 1,353.2 crore in Q2FY21, revenue rose to Rs 10,881.3 crore from Rs 10,197.6 crore QoQ. Its subsidiaries acquired two companies (Infostar LLC, and WMW by Born London, UK) for Rs 885 crore.
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HDFC Bank
Competition Commission of India has approved the acquisition of 4.99 percent of the outstanding equity share capital of HDFC Ergo General Insurance Company by HDFC Bank.
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Bharti Airtel
The company has confirmed to avail both options – deferment of the payment of spectrum auction installments due up to four years; and deferment of AGR (adjusted gross revenue) related dues by a period of four years with immediate effect.
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Results on October 26
Axis Bank, Kotak Mahindra Bank, Bajaj Finance, ABB India, Cipla, Ambuja Cements, Asahi Songwon Colors, Best Agrolife, Birlasoft, Canara Bank, Central Bank of India, Century Enka, Cera Sanitaryware, Coromandel Engineering, Gati, Greaves Cotton, Greenlam Industries, Hikal, IRB Infrastructure Developers, Jindal Stainless, Dr. Lal PathLabs, Mahindra Lifespace Developers, Meghmani Finechem, Mahanagar Gas, Meghmani Organics, Mangalore Refinery & Petrochemicals, Nippon Life India Asset Management, Persistent Systems, PI Industries, Sharda Cropchem, Shiva Cement, Surya Roshni, Symphony, Torrent Pharmaceuticals, Triveni Turbine, Wabco India, and Zensar Technologies will release September quarter earnings on October 26.
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Quess Corp
The company increased its equity stake in Stellarslog Technovation (owner of the digital gig platform – Taskmo) from 33.33 percent to 36.58 percent, by investing approximately Rs 80 lakh.
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Indus Towers
The company has reported a higher profit at Rs 1,558.5 crore in Q2FY22 against Rs 1,130.7 crore in Q1FY21, revenue rose to Rs 6,876.5 crore from Rs 6,359.1 crore YoY.
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Kansai Nerolac Paints
The company reported a lower consolidated profit at Rs 87.28 crore in Q2FY22 against Rs 167.96 crore in Q2FY21, revenue jumped to Rs 1,619.64 crore from Rs 1,383.21 crore YoY.
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HDFC Asset Management Company
The company reported a higher profit at Rs 344.38 crore in Q2FY22 against Rs 338.06 crore in Q2FY21, revenue rose to Rs 542.33 crore from Rs 456.25 crore YoY.
