After bagging the tender for the largest section of the Mumbai-Ahmedabad Bullet Train Project, Larsen and Toubro (L&T) emerged as the lowest bidder for another package connecting Vadodara with Ahmedabad.
The Airports Authority of India (AAI) on Sunday midnight handed over the Lucknow airport to the Adani group on lease for a period of 50 years. The AAI had handed over the Mangalore airport to the group on October 30 midnight.
India’s drug regulatory authority has rejected a proposal of pharma giant Dr. Reddy’s seeking change in regulatory approval status for remdesivir from restricted emergency use to full marketing authorisation.
NTPC posted 7.43 per cent year-on-year (YoY) growth in net profit at Rs 3,504 crore for the quarter ended September 30 on account of exceptional gains of Rs 560.43 crore. Share buyback has been announced at Rs 115.
Zee Entertainment Enterprises reported a consolidated net profit of Rs 93.41 crore for the quarter ended September. It had logged a net profit of Rs 412.09 crore in the same quarter a year ago.
Punjab National Bank (PNB), posted a 22 per cent increase in standalone net profit to Rs 621 crore for the July-September quarter.
Embassy Office Parks REIT has reported a 10 per cent rise in the net operating income for the quarter ended September to Rs 481.4 crore.
Sterlite Technologies will acquire Optotec, an optical interconnect products company based in Italy. The deal involves acquisition of 100 percent of Optotec’s shareholding at an enterprise value of EUR 29 million.
Reliance Capital, part of debt-ridden Anil Ambani-promoted Reliance Group, has invited bids for sale of its subsidiaries, including Reliance General Insurance and Reliance Nippon Life Insurance, to repay loans of about Rs 20,000 crore.
Some Major Q2 Results Announcements Today:
- Sun Pharma
- Adani Gas
- Adani Ports
- Muthoot Finance
What to expect today?
Yesterday, there was positivity in markets all around the globe. Reliance, which moved down by 8%, did not allow NIFTY to fly. NIFTY ended up taking resistance at 11,750. Click here for a detailed analysis of yesterday’s market and stock movements.
Bank Nifty was the buzzing sector from yesterday. It moved up more than 4% after the good results from HDFC. It even crossed 25,000 during intraday.
More than the lockdown worries from Europe, the global markets seem to be more interested in the US Election.
The US Presidential Election is all set to happen today/tomorrow. We will get an idea of the verdict by tomorrow afternoon. That is. We can expect high volatility in the market today and tomorrow.
The US markets have been falling continuously for the last 2 weeks. So, after the election, if there is a clear winner, a further fall is not expected. An uncertainty in the result is only when markets may crash.
Polls still say Joe Biden will win and if that happens, markets will rally in the short term.
US Markets are up. Europe is up. Asian markets are up. SGX NIFTY is trading at 11,680, which is 11 points higher, indicating a gap up opening in the Indian Market.
NIFTY is likely to trade between 11,600 and 11,800. There is support at 11,660 and 11,600 and resistance at 11,720 and 11,780.
Highest Call Open Interest at 12,500, followed by 12,000. Highest Put Open Interest at 11,000, followed by 11,500.
Foreign institutional investors (FIIs) net bought shares worth Rs 740.61 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 533.97 crore.
There is a sudden positivity in the market. But as expected, volatility is also there. NIFTY moved from 12,000 to 11,500 last week. By Tuesday, it is already back near 11,800. Do not let the volatility kill your profits. All the best for the day!