The Indian stock market is anticipated to begin in the green, with the SGX Nifty indicating a 26-point rise for the index in India. On October 21, the BSE Sensex fell 336.46 points to 60,923.50, while the Nifty50 fell 88.50 points to 18,178.10, forming a bearish candle on the daily charts and extending a downturn for the third session in a row.
According to pivot charts, the Nifty’s major support levels are 18,022.66, followed by 17,867.23. If the index continues to rise, the major resistance levels to monitor are 18,358.86 and 18,539.63.
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Top stocks in focus today:
LIC Housing Finance
The company reported a reduced profit of Rs247.86cr in Q2FY22 compared to Rs790.90cr in Q2FY21; revenue decreased to Rs4,708.01cr from Rs4,969.03cr year on year to Rs4,708.01cr.
Results on October 22
Reliance Industries, HDFC Life Insurance Company, Yes Bank, Apollo Pipes, Bharat Seats, Crompton Greaves Consumer Electricals, Dodla Dairy, Federal Bank, Gland Pharma, Hindustan Zinc, Inox Leisure, Jubilant Pharmova, Kajaria Ceramics, Kirloskar Ferrous Industries, Kwality Pharmaceuticals, Mahindra Holidays & Resorts India, Omkar Speciality Chemicals, Polycab India, ABB Power Products and Systems India, PVR, Steel Strips Wheels, Subros, Sundaram-Clayton, Supreme Industries, Tata Consumer Products, Tata Elxsi, and Zenotech Laboratories will release their September quarter earnings on October 22.
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Zee Entertainment
On October 21, the Bombay High Court ordered Zee Entertainment Enterprises Ltd to summon an extraordinary general meeting (EGM), as requested by shareholders Invesco Developing Market Funds and OFI Global China Fund.
ICICI Lombard General Insurance Company
The company recorded a greater profit in Q2FY22, at Rs446.67cr, compared to Rs415.74cr in Q2FY21. Total income increased from Rs2,883.40cr to Rs3,808.16cr year on year.
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South Indian Bank
The bank lost Rs187.06 crore in Q2FY22, compared to a profit of Rs65.09 crore in Q2FY21; net interest income decreased to Rs527.15 crore from Rs663.11 crore year on year.
Macrotech Developers
The company reported a consolidated profit of Rs223.36 crore in Q2FY22, compared to a loss of Rs362.58 crore in Q2FY21; sales increased to Rs2,123.83 crore from Rs900.76 crore year on year.
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VST Industries
The company reported a lower profit of Rs79.88cr in Q2FY22 compared to Rs88.54cr in Q2FY21; sales decreased to Rs360.86cr from Rs394.88cr year on year to Rs360.86cr.
The Indian Energy Exchange (IEX)
The company recorded a greater consolidated profit of Rs77.72cr in Q2FY22 compared to Rs44.33cr in Q2FY21, and revenue increased to Rs110.37cr from Rs70.91cr year on year. The firm proposed a bonus issuance of equity shares in the proportion of two equity shares of Re one each for each existing equity share of Re one held by the shareholders.
