Markets recouped Monday’s losses for broader markets after Nifty sustained its crucial support of 18034 and Nifty Midcap and Small cap index ending higher by 2%. With Nifty Midcap 100 index already breaching previous week low and activating breakout in historical volatility, we can expect upside to remain unstable and selling pressure to continue as long Nifty trades below 18377. Results today – Adani Ports, Bajaj Auto, Balaji Amines, Dalmia Bharat, Deepak Nitrite, IOB< ITC, Larsen, Maruti Suzuki, Tata Chemicals & PNB.
U.S. stocks rose to all-time highs as corporate earnings helped boost sentiment amid lingering concerns about inflation and growth. Asian stocks look set to dip as traders weighed the latest U.S. earnings reports amid lingering concerns about growth risks from elevated inflation and China’s indebted property sector. The Dow Jones Industrial Average was up 125.39 points, or 0.35 percent, at 35,866.54 to hit a record high. The S&P 500 was up 24.64 points, or 0.54 percent, at 4,591.12, and the Nasdaq Composite was up 94.73 points, or 0.62 percent, at 15,321.44.
Stocks in news
Dr Lal in focus today- Dr Lals to acquire Suburban Diagnostics in all cash deal. Dr Lals to acquire Suburban at EV of Rs 925 cr & performance linked payment of Rs 225 cr based on FY22 numbers. Valuation: enterprise value of 18.5x FY22 EBITDA. Deal to be funded via existing cash reserves
HDFC Ltd – India Post ties up with Co for home loans.
Zeel – HC restrains Invesco from calling EGM.
Axis Bank – Q2 PAT 31.33Bn vs 16.8Bn (YoY), Est 29Bn, Q2 interest earned 163.36Bn vs 161Bn (YoY).
Cipla – Q2 PAT Rs 7.11Bn vs 6.65Bn (YoY), est 6.9Bn, Q2 revenue 55.2Bn vs 50.38Bn (YoY).
RB Infrastructure to raise Rs 5,347 crore via preferential issue of shares
Adani group exploring investment in Sri Lanka’s renewable energy sector: Official
IEX starts trade in Energy Saving Certificates
PSU banks seek RBI oversight on IDRCL for smooth NPA resolution
Kotak Mahindra AMC gets relief from SAT
Sebi proposes disclosure norms for ESG mutual fund schemes
Finance Ministry asks civil aviation ministry, DoT to expedite capex
PolicyBazaar parent’s IPO to open on November 1
Fino Payments Bank IPO to open on Oct 29, price band announced
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