“Technically, the Nifty looks poised to retest the trendline hurdle near 25,450, and a decisive breakout above this level could propel the index toward 25,650 and beyond. We maintain a bullish bias and continue to advocate a buy on dips approach as long as the index holds above the 25,000 support zone,” said Ajit Mishra – SVP, Research, Religare Broking.
In today’s trade, shares of Axis Bank, Infosys, Wipro, Hyundai, RBL Bank, Angel One, Jio Financial among others will be in focus due to various news developments and second quarter results.
HDB Financial
HDB Financial reported a marginal drop of 2% in its net profit at Rs 581 crore in the July-September quarter. It was Rs 591 crore a year ago. The net interest income (NII) recorded an increase of 20% YoY to Rs 2,192 crore for the quarter as against Rs 1,833 crore in the last year period, supported by higher yields and efficient funding.
Axis Bank
Private lender Axis Bank reported a steep fall in its standalone net profit at Rs 5,090 crore in the second quarter, compared with Rs 6,918 crore in the last year quarter. The net interest income (NII) during the quarter rose marginally by 2% to Rs 13,744 crore. Provision and contingencies for Q2FY26 rose by a massive 61% YoY to Rs 3,547 crore. Specific loan loss provisions for the quarter stood at Rs 2,133 crore.
Hyundai India
Hyundai Motor Co announced plans to invest $5 billion (Rs 45,000 crore) in India by 2030, outlining its most aggressive growth roadmap yet for the market. The funds would go toward expanding capacity, localising R&D, and rolling out new products, as the South Korean automaker deepens its presence in what it calls a “core pillar” of its global strategy.RBL Bank
Indian private lender RBL Bank said it will consider a proposal to raise funds at its board meeting on October 18. The lender will consider raising funds through an issue of equity shares or equity-linked securities, RBL bank said. This could include a proposal for a preferential issue of securities.
ABFRL
Aditya Birla Fashion and Retail said that French luxury retailer Galeries Lafayette will open its first Indian flagship store in Mumbai city with plans for another in the capital city Delhi, as part of their partnership. The retail and fashion unit of Aditya Birla group also has exclusive tie-ups with other luxury brands such as Ralph Lauren, Hackett London, Ted Baker and Fred Perry in India.
TVS Motor
TVS Motor launched the Apache RTX 300 in India, venturing into the adventure tourer segment. The bike is a competitor to motorcycles like the KTM 250 Adventure, Yezdi Adventure and Royal Enfield Scram. The bike is priced at Rs 1.99 lakh (ex-showroom).
Angel One
Brokerage Angel posted its third-straight quarterly profit decline, as last year’s curbs on equity derivatives trading continued to limit participation of retail investors. The company, which competes with startups such as Zerodha, Groww and Upstox, said its consolidated profit slumped 50% to Rs 212 crore for the three months ended September 30.
Hero MotoCorp
Hero MotoCorp has forayed into the Spanish market in association with Noria Motos. The expansion marks the entry of the two-wheeler major into its 50th international market, while strengthening its presence in Europe.
Infosys, Wipro, Nestle, Jio Financial
Shares of Infosys, Wipro and Nestle will be in focus as the companies will announce their second quarter results later today.
as a Reliable and Trusted News Source