Top stocks in spotlight on 18 Oct 2017

Stock Market opened lower on Wednesday against the previous session’s closing. The Sensex and Nifty fell in the morning hours. The Indian rupee strengthened a little bit against the USD. The shares of Wipro Ltd, Kotak Bank and Reliance rose, while the shares of Axis Bank and ICICI Bank fell.

The following stock, among others, will be in spotlight today 18 Oct 2017:- UltraTech Cement, Hindustan Zinc Ltd , Havells India Ltd, Indiabulls Housing Finance Ltd, NIIT Technologies, NOCIL are some of the major companies that are announcing their Q2 results today. 

Wipro Ltd has reported a 5.5% jump in sequential and 6% rise in year-on-year rise in net profit at Rs 2189.50 crore for the Sept quarter. Wipro has given guidance of USD 2014 million to USD 2054 million for December quarter revenue from its IT services business.

ONGC Stocks: State-run Oil & Natural Gas Corpn will invite bids from oilfield service providers to boost up output from some of its ageing fields under a long-term contract.

The two-wheeler maker Bajaj Auto Ltd has posted a 1% decline in net profit to Rs 1123 crore for the Sept quarter, largely on account of flat two-wheeler sales and rising input costs. 

Reliance Industries Ltd has submitted a USD 1.4-billion plan to generate 7 million cubic metres a day of natural gas from KG-D6 deep-sea fields in the Bay of Bengal.

Agri-commodity Preview: Cardamom falls, crude palm oil rises at MCX

Cardamom prices fell by Rs 18.90 to Rs 1,050.30/kg in futures market on Tuesday as traders scaled down holdings amid sluggish demand at the spot market. The offloading positions by participants despite slow demand in the spot market against sufficient stocks position on higher supplies, is attributed to the plunge in cardamom prices at futures trade.

At the MCX, cardamom for delivery in far-month January next year fell by Rs 18.90, or 1.77%, to Rs 1,050.30/kg, in a business turnover of 1- lot. On the other hand, the spice for delivery in Nov’ moth was trading down by Rs 7.40, or 0.72%, to Rs 1,018  kg, with a trading volume of 50 lots.

Meantime, the prices of Crude palm were on higher side by 0.31 percent to Rs.539.10/ 10 kg in futures trade today, since traders generated fresh positions, aided by pickup in demand at the spot market.  In futures trading at the MCX, crude palm oil for delivery October rushed by Rs 1.70, or 0.31%, to Rs 539.10 /10 kg, in a business turnover of 55 lots. Likewise, the oil for delivery in November jumped by Rs 1.50, or 0.28%, to Rs 535.60 /10 kg in 37 lots.

Top stocks in focus on 17 October 2017

Stock markets have opened lower on Tuesday with a negative bias. The domestic currency also opened lower versus the US dollar. Shares of Asian Paints, TCS, Bharti Airtel, and Axis Bank rose in the morning hours, whereas Tata Motors, Mahindra & Mahindra and Dr Reddy’s Labs fell.

Here is a list of a few major stocks that are likely to be in focus today:- Axis Bank is likely to report muted earnings for Sept quarter because of a rise in provisions. This is in spite of an expected moderation fresh corporate slippages and stellar digit loan growth.

Bajaj Auto - The two-wheeler major is to report mixed set of numbers on Tuesday for the quarter ended Sept 30, 2017. There are expectations that revival in demand from rural markets due to normal monsoons and early festive season will help the industry to post positive growth in Q2FY18.

Wipro Ltd - The Company is set to declare their Sept 2017 quarter results today, 17 October 2017 today.