Market will closely monitor the developments in the Israel-Hamas conflict, with a consensus emerging that the geopolitical risk will not elevate, said Vinod Nair, Head of Research at Geojit Financial Services.
On the stock-specific front, Mazagon Dock Shipbuilders, Exide Industries, Supreme Industries, IndusInd Bank, Bajaj Auto, L&T Technology Services, Tata Elxsi, Bajaj Finance and some other counters will be in focus today.
Shares of L&T Technology Services slipped 1.57% to close at Rs 4,615.45 in the last trading session. The stock will be in focus today as the company reported a 5.17 per cent rise in its second-quarter (Q2) profit for the financial year 2023-24 (FY24). The figure came at Rs 315.4 crore in quarter that ended on September 30, 2023, as against Rs 299.9 crore in the year-ago period.
Shares of Tata Elxsi shed 0.34% to end at Rs 7,449.20. The company said its Q2 profit rose 14.8% (year-on-year) to Rs 200 crore, while revenue from operations climbed to Rs 882 crore.
Bajaj Finance's shares rose 0.73% to close at Rs 8,091.35. The shadow lender's consolidated profit after tax rose nearly 28% to Rs 3,551 crore in the three months ended September 2023.
Shares of Bajaj Auto gained 1.24% to settle at Rs 5,140.60. The shadow lender will anounce its Q2 FY24 earnings today.
Shares of IndusInd Bank fell 0.84% to close at Rs 1434.70. The company will also report its second-quarter (Q2) earnings for the financial year 2023-24 today.
Companies such as Bandhan Bank, ICICI Lombard General Insurance Company, Persistent Systems, Polycab India, Titagarh Rail Systems, Wipro and UTI Asset Management Company will also announce their respective quarterly results today.
Shares of Mazagon Dock Shipbuilders settled with 0.44% losses at Rs 2,154.65. The company has has signed a contract with acquisition wing of Ministry of Defence for construction and delivery of a training ship for Indian Coast Guard (ICG) at a cost of Rs 310 crore.
Lemon Tree Hotels shares edged 0.04% to close at Rs 122.10 on October 17. The company has announced its latest signing with announced its latest signing with Keys Select by Lemon Tree Hotels, Vadodara.
Shares of Supreme Industries jumped 6.64% to end at Rs 4,626.80. The company said it has taken charge of the manufacturing unit/business of Parvati Agro Plast.
Exide Industries shares rose 1.66% to close at Rs 268.75. The company has invested over Rs l00 crore in its wholly-owned subsidiary Exide Energy Solutions.
Shares of Rudra Global Infra Products fell 3.40% to close at Rs 140.55. The stock will turn ex-bonus and ex-split today.
"A buy on dips strategy is favored as long as it remains above 19,550. On the higher end, it might move towards 20,000-20,200," said Rupak De, Senior Technical analyst at LKP Securities.
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