The Indian stock market is anticipated to begin in the green, with SGX Nifty trends indicating a positive opening for the index in India against the October 14 closing of 18,355. The BSE Sensex gained 568.90 points, or 0.94 percent, to conclude at 61,305.95 for the first time, while the Nifty50 gained 176.70 points, or 0.97 percent, to end at a record closing high of 18,338.50, forming a bullish candle on the daily charts due to the closing being higher than the starting levels. The index also formed a bullish candle on a weekly basis, gaining 2.5 percent over the week.
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According to pivot charts, the Nifty’s major support levels are 18,274.6, followed by 18,210.6. If the index continues to rise, the important resistance levels to monitor are 18,376.7 and 18,414.8.
Top stocks in focus today:
HDFC Bank
The bank recorded a higher standalone profit of Rs8,834cr in Q2FY22 compared to Rs7,513.11cr in Q2FY21, and net interest income increased from Rs15,776.39cr year on year to Rs17,684.39cr.
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Results on October 18
UltraTech Cement, Larsen & Toubro Infotech, Route Mobile, Alok Industries, Concord Drugs, Craftsman Automation, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Hatsun Agro Product, International Travel House, Lloyds Steels Industries, Navigant Corporate Advisors, Sunedison Infrastructure, SVP Global Ventures, Tanfac Industries, Tata Coffee, and Uniply Decor will announce September quarter earnings on October 18.
Avenue Supermarts
The company reported a significant increase in consolidated profit to Rs418cr in Q2FY22 from Rs198.55cr in Q2FY21, while sales increased from Rs5,306.20cr yoy to Rs7,789cr.
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HCL Technologies
In Q2FY22, the company reported a 1.6 percent sequential increase in consolidated profit of Rs3,265cr and a 2.9 percent growth in sales of Rs20,655cr.
Vikas Lifecare
The company reported a greater consolidated profit of Rs2.5cr in Q2FY22 compared to Rs0.31cr in Q2FY21, while sales increased to Rs67.48cr from Rs31.85cr year on year.
Just Dial
On October 13, Just Dial | Nalanda India Equity Fund sold 3.09 percent of its investment in an open offer, decreasing its ownership to 0.66 percent from 3.75 percent previously.
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Fortis Healthcare
Rakesh Jhunjhunwala’s stake in Fortis Healthcare fell to 4.23 percent (3,19,50,000 shares) in the September 2021 quarter, down from 4.31 percent (3,25,50,000 shares) in the June quarter.
Shilpa Medicare
The company secured Rs297.51 crore from a number of high-profile investors, including Malabar India Fund, Malabar Select Fund, Malabar Midcap Fund, Think India Opportunities Master Fund LP, Blue Daimond Properties, Ohm Core Investment Corp, Hypnos Fund, and Madhusudan Kela.
