"Positive global cues helped domestic markets extend gains for a second straight session as moderating US bond yields improved the sentiment. With oil prices seeing little movement in the wake of the Israel-Palestine conflict, the focus has once again quickly shifted back to global macro-economy," said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities. If the US treasury yields don't spike from here on, it would bring some stability to global equity markets and encourage investors to undertake risk-on strategy, Chouhan added.
On the stock-specific front, Infosys, HCL Technologies, Tata Metaliks, Tata Consultancy Services (TCS), Angel One, HDFC Asset Management Company, JTL Industries, International Travel House, Suzlon Energy, RVNL, Maruti, Patanjali Foods and some other counters will be in focus today.
Shares of Infosys shed 0.09% to close at Rs 1,493.65 in the last trading session. The IT firm will report its second-quarter (Q2) earnings for the financial year 2023-24 today.
Shares of HCL Technologies fell 1.24% to end at Rs 1,245.75. The IT company will also declare its Q2 FY24 on October 12 (Thursday).
Other companies such as Anand Rathi Wealth, Angel One, Emerald Finance, Facor Alloys, HDFC Asset Management Company, IEL, International Travel House, JTL Industries, Kesoram Industries, Kintech Renewables, Roselabs Finance, Shah Metacorp, Sical Logistics, Tata Metaliks, Value Industries, Vandana Knitwear and Videocon Industries will announce their respective quarterly results today.
Shares of Vedanta settled with 2.5% gains at Rs 227.70. The company said it has incorporated a wholly-owned subsidiary -- Vedanta Base Metals -- on October 9, 2023.
Maruti Suzuki India shares rose 0.35% to close at Rs 10,409.95 on October 11. The carmaker said it has started exports of its off-roader, the Jimny 5-Door. The vehicle will be shipped to Latin America, Middle East and Africa regions, Maruti said.
Shares of ANG Lifesciences India rose 0.76% to end at Rs 71.81. The company said Sudesh Kumari has resigned as non-executive non-independent director due to personal reasons.
Shares of Tata Consultancy Services (TCS) slipped 0.52% to settle at Rs 3,610.20. The IT major has reported a net profit of Rs 11,342 crore during the second quarter ended September 30, 2023, from Rs 10,431 crore a year earlier. It has also approved share buyback worth Rs 17,000 crore at Rs 4,150 per equity share..
Suzlon Energy shares jumped 5% to close at Rs 27.72. The company has approved conversion of 16,20,352 partly paid-up equity shares with a face value of Rs 2 each (Re 1 paid-up) into fully paid-up equity shares with a face value of Rs 2 each (Rs 2 paid-up), aggregating to Rs 40,50,880.
Shares of Vascon Engineers rose 1.20% to close at Rs 75.95. The company has received Letter of Acceptance (LoA) amounting to Rs 352.91 crore from Jharkhand State Building Construction Corporation Ltd.
Shares of Patanjali Foods, formerly known as Ruchi Soya Industries, rose 1.17% to settle at Rs 1,315.50. The company said it has registered an uptick in edible oil sales volume with a single-digit year-on-year (YoY) growth in Q2 FY24 and double-digit YoY growth during H1 FY24. Despite challenges, the branded sales continue to thrive, accounting for over 75% of the total sales value in edible oils, it further mentioned.
Rail Vikas Nigam Ltd (RVNL) shares settled 0.12% lower at Rs 165.15 on October 11. The company said it has emerged as the lowest bidder for "TRC: Sukhovi-Pherima" project worth Rs 28.74 crore.
"Nifty is showing signs of a bullish reversal from the bottom. If the index manages to break the 19,850-resistance level, the next resistance can be expected around the 20,000-20,100 range. The immediate support zone for Nifty is 19,700-19,600," said Mandar Bhojane, Research Analyst at Choice Broking.
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