Auto stocks, RIL, Dr. Reddy's Labs, Shree Cement in focus

Among key corporate results, HDFC, Tata Motors and IRCTC among others will release their September 2021 quarter earnings today, 1 November 2021.

Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for October starting from 1 November 2021.

Shares of Reliance Industries (RIL) will be in focus. Jio and Google announced that JioPhone Next, the made-for-India smartphone jointly designed by the two companies, will be available in stores from Diwali. It will be available in stores from Diwali with an entry price of only Rs 1,999 and the rest paid via easy EMI over 18/24 months.

Dr. Reddy's Laboratories reported 30% rise in consolidated profit after tax to Rs 992 crore on a 18% rise in revenue to Rs 5763 crore in Q2 FY22 over Q2 FY21.

UPL reported 36% rise in consolidated net profit to Rs 633 crore on a 18% rise in revenue to Rs 10567 crore in Q2 FY22 over Q2 FY21.

Indian Oil Corporation reported standalone net profit of Rs 6360.50 crore in Q2FY 22 as compared to net profit of Rs 6227.31 crore in Q2 FY21. Total income rose to Rs 1,71,204.49 crore in Q2 FY22 from Rs 1,17,286.41 crore in Q2 FY21.

Shree Cement reported consolidated net profit of Rs 563.94 crore in Q2 FY22 as compared with net profit of Rs 527.87 crore in Q2 FY21. Total income rose to Rs 3526.95 crore from Rs 3364.84 crore.

Monte Cello BV (MCBV), a 100% subsidiary of Vedanta, has entered into a Term sheet agreement to divest Copper Mines of Tasmania (CMT) by way of an Option Agreement with New Century Resources. MCBV is 100% owner of the Mt Lyell Copper Mine in Australia, a small copper asset which has been on care and maintenance for the last 5 years and not strategic for Vedanta with it's size and country presence.

Adani Enterprises (AEL) has signed Share Subscription Agreement and Shareholders' Agreement with Cleartrip Private Limited (CPL) and also Shareholders' Agreement with existing Shareholder of CPL namely Flipkart Marketplace Private Limited for the purpose of acquiring significant minority stake in CPL. As a part of the investment, CPL will also serve as the company and its group entities' online travel aggregator partner.

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