The Indian stock market is set to begin in the green, as trends on the SGX Nifty show an 11-point rise for the index in India. On October 22, the BSE Sensex fell 101.88 points to 60,821.62, while the Nifty50 fell 63.20 points to 18,114.90, forming a bearish candle on the daily charts because the closing levels were lower than the starting levels.
According to pivot charts, the Nifty’s major support levels are 17,994.73, followed by 17,874.57. If the index continues to rise, the important resistance levels to monitor are 18,274.63 and 18,434.37.
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Top stocks in focus today:
Reliance Industries
The company reported a substantial increase in consolidated profit to Rs15,479cr in Q2FY22 from Rs10,602cr in Q2FY21, while sales increased to Rs1,74,104cr from Rs1,16,195cr yoy.
Results on October 25
Tech Mahindra, HDFC Asset Management Company, Aditya Birla Sun Life AMC, ANG Lifesciences India, Aurionpro Solutions, Ceat, Coforge, Colgate-Palmolive (India), CSB Bank, Dwarikesh Sugar Industries, Gujarat Mineral Development Corporation, Goodluck India, Home First Finance Company India, ICRA, Indus Towers, Jagran Prakashan, Kansai Nerolac Paints, Karda Constructions, LKP Securities, Maharashtra Scooters, Mangalam Organics, Newgen Software Technologies, Orient Cement, Prakash Industries, Quick Heal Technologies, Ramco Cements, Shriram Asset Management, SRF, Suven Life Sciences, and Welcure Drugs & Pharmaceuticals.
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ICICI Bank
The bank recorded a significantly higher standalone profit of Rs5,511cr in Q2FY22 compared to Rs4,251.3cr in Q2FY21, while net interest income increased to Rs11,690cr from Rs9,366cr year on year.
ABB Power Products and Systems India
The company reported a dramatic increase in profit to Rs34.3cr in Q2CY21 from Rs4.8cr in Q3CY20, although sales declined to Rs850.6cr from Rs946.3cr year on year. In Q3CY21, order intake was Rs979cr, up from Rs890.2cr in Q3CY20.
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Tata Consumer Products
The company reported a higher consolidated profit of Rs261.4cr in Q2FY22 compared to Rs234.3cr in Q2FY21, with sales increasing to Rs3,033.12cr from Rs2781.34cr year on year.
Tata Elxsi
The company reported a huge increase in profit to Rs125.33cr in Q2FY22 from Rs78.87cr in Q2FY21, while sales increased to Rs595.33cr from Rs430.17cr year on year.
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Gland Pharma
The company reported a substantial increase in consolidated profit to Rs302cr in Q2FY22 from Rs218cr in Q2FY21, while sales increased to Rs1,080.5cr from Rs831.5cr year on year.
Coforge
The company’s net profit increased by 18.7 percent to Rs 146.7 crore from Rs 123.6 crore (QoQ). Revenue increased 7.4 percent to Rs 1,569.4 crore from Rs 1,461.6 crore (QoQ). EBIT increased 35.2 percent to Rs 214.9 crore from Rs 159 crore (QoQ). EBIT margin was 13.7 percent vs 10.9 percent (QoQ). Dollar revenue increased by 6.5 percent to USD 212.8 million from USD 199.7 million (QoQ).
