Profit booking ensued in domestic indices, spurred by weak global sentiments and escalating Middle East tensions, said Vinod Nair, Head of Research at Geojit Financial Services.
On the stock-specific front, Housing & Urban Development Corporation Ltd (HUDCO), Wipro, Bandhan Bank, Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL), ITC and some other counters will be in focus today.
Shares of Housing & Urban Development Corporation Ltd (HUDCO) dived 10.65% to close at Rs 80.34 in the last trading session. The company's stock will be in focus today as the government will exercise oversubscription option for further 3.5% stake sale.
Shares of Wipro shed 0.94% to end at Rs 407.40. The IT firm reported a surprise drop in second-quarter revenue on a weak deal pipeline amid uncertain demand from clients.
Bandhan Bank's stock slipped 0.65% to close at Rs 238. The private lender Bandhan Bank recorded a massive jump in its second-quarter profit for the financial year 2023-24 (Q2 FY24). Profit after tax (PAT) stood at Rs 721 crore in Q2 FY24 as compared to Rs 209 crore in Q2 FY23, registering a growth of 245 per cent year-on-year (YoY).
Shares of Hindustan Unilever Ltd (HUL) fell 0.37% to settle at Rs 2,547.90. The shadow lender will announce its Q2 FY24 earnings today.
Shares of ITC fell 0.42% to close at Rs 451.55. The company will report its second-quarter (Q2) earnings today. Also, the FMCG giant said it will acquire further 2,286 equity shares of Rs 10, each, of Delectable Technologies Pvt Ltd, an associate company. The said shares, once acquired, will take ITC's shareholding in Delectable from 33.42% to 39.32%.
Companies such as Coforge, Aarti Drugs, Cyient, HFCL, Mastek, Metro Brands, Mphasis, PVR-Inox, Nestle India, Tanla Platforms, Tata Communication, Tata Coffee and Voltas will also announce their respective quarterly results today.
Shares of Maruti Interior Products settled with 0.5% losses at Rs 198.50. The company clarified that the ratio of bonus equity shares of the company is 1 (one) new equity share for 1 (one) equity share held by the shareholders in the company as on record date on October 27 2023.
PowerGrid shares slipped 0.27% to close at Rs 206.50 on October 17. The company said it has successfully commissioned a project. "It is to inform that the project under 'Eastern Region Strengthening Scheme – XVII (Part-B) [ERSS-XVII (Part-B)' has been commissioned with effect from August 8, 2023 for which Notification for Commercial Operation (DOCO) has been received," the company said.
Shares of Tata Consultancy Services (TCS) fell 0.56% to end at Rs 3,487.15. This stock will trade ex-dividend today. The IT major has declared an interim dividend of Rs 9.
Semac Consultants shares fell 1.57% to close at Rs 2,325. The stock will also trade ex-dividend today. The company has declared a final dividend of Rs 5.
Shares of Brand Concepts slipped 1.97% to close at Rs 498. The counter will be trading ex-dividend today. Brand Concepts has announced a final dividend of 50 paise.
From a technical standpoint, the next support level for Nifty is at 19,650, represented by the 40-day EMA, said Shrey Jain, Founder and CEO at SAS Online.
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