 "Markets likely to open flat; HCL Tech in focus")
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Markets are expected to open flat with positive bias following muted cues from the Asian peers. However, Asian equities have trimmed losses after China’s Q3 GDP stood at 6.9%, better than expected. The early indicator, SGX Nifty is down 0.1%
The street is also expected to react positively on September quarter results of Reliance Industries- announced on Friday post market hours- which reported a 12.5 % rise in consolidated net profit at Rs 6,720 crore amid high refining margins.
Meanwhile, the Foreign Institutional Investors (FIIs) were net buyers on Friday to the tune of Rs 437 crore as per provisional data.
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GLOBAL MARKETS
Asian markets opened lower but have trimmed some of the losses post China’s Q3 GDP data. China’s GDP stood at 6.9% for the quarter ended September as against 6.8% expected by the analysts.
Japan’s Nikkei is trading at 0.5% down while HangSeng is at 0.2% losses. Shanghai Composite is however 0.6% up.
On Friday, Wall Street closed higher on the back of upbeat consumer data.
STOCKS IN FOCUS
HCL Tech, UltraTech Cement, SKS Microfinance, Petronet LNG are few companies that will announce the September quarter results today
Reliance Industries: After posting better than expected Q2 results post market hours on Friday, the stock is expected to react positively.
Vedanta: The Vedanta group signed an early agreement to invest around Rs8,400 crore to expand and develop its mineral and mining base in Rajasthan.
Adani Enterprises: Adani Enterprises is expected to proceed with building its A$7.2-billion ($5.2 billion) Carmichael coal mine and rail project in Queensland state, Australia resources and energy minister Josh Frydenberg said.
Lanco Infratech: Lanco Infratech on Sunday announced it had won a case in the Supreme Court for its subsidiary company Lanco Kondapalli Power Limited (LKPL), dismissing appeals filed by Andhra Pradesh Power Coordination Committee and AP Discoms and also upholding the orders passed by APTEL and APERC in favour LKPL.
Amtek Auto: New Delhi-based auto component maker Amtek Auto is close to reaching a solution with JPMorgan, which holds its non-convertible debentures worth Rs 200 crore.
