 "Markets to see a positive openings as global stocks shine")
Markets are likely to open higher in today’s trade mirroring a firm closing on the Wall Street with S&P500 index ending above 2,100 level for the first time since August. Meanwhile, European peers also had a positive finish on good PMI reading.
Stock specific action is likely to be seen during the session as some of the prominent companies including Adani Power, DLF, IndianOil, GAIL, Tech Mahindra, Reliance Power and PVR post their quarterly results today.
STOCKS ON THE RADAR
Coal India recorded an output of 44.37 million tonnes during the month of October, according to a filing on the BSE.
Greaves Cotton reported 91% increase in its net profit at Rs 52.24 crore for the quarter ended September 30, 2015 as compared to Rs 27.29 crore for the corresponding quarter last year.
Brigade Enterprises posted a net profit of Rs41 crores up by 102% for the second quarter of the current fiscal as compared to the same period last year.
Adani Ports and Special Economic Zone posted a 16 per cent increase in its consolidated net profit to Rs 667 crore for the September quarter on increased income from operations.
Adani Enterprises posted a consolidated net profit of Rs 299 crore down by 40 percent for the second quarter ended September 30.
Blue Star acquired 51 per cent stake in Oman Electro Mechanical Contracting, a 100 per cent subsidiary of W J Towell.
Banks are likely to remain in focus after Global rating agency Moody’s on Monday said it expected a gradual improvement in the working environment as it upgraded its outlook for India’s banking system from negative to stable.
United Spiritsreported second quarter profits of Rs 929.3 crore on windfall of Rs 853.6 crores by selling shares of United Breweries held by the company.
Reliance Capital posted a 15 per cent year-on-year increase in consolidated net profit at Rs 250 crore for the September quarter, helped by growth in general insurance and asset management businesses.
Oriental Bank of Commerce reported a 3.4 per cent growth in net profit on an annual basis on account of s pick-up in the credit demand. Net profit stood at Rs 301 crore, up from Rs 291 crore a year ago, results for the July-September quarter showed.
Indian Bank posted an 18 per cent growth in net profit at Rs 369 crore during the September 2015 quarter, compared to Rs 314 crore in the year-ago period.
TVS Motor Company reported a 14% growth in sales for the month of October 2015 with total sales increasing from 241,044 units recorded in the month of October 2014 to 274,622 units in the month of October 2015.
HPCL & GAIL are eying at jointly setting up a multi-billion dollar petrochemical plant in Andhra Pradesh.
GLOBAL STOCKS
Asian share markets are trading higher today tracking a strong closing on the Wall Street helped by gains in energy and health care stocks.Meanwhile, a holiday in Japan kept currencies tethered within recent tight ranges.
Also, European stock markets erased earlier losses and finished higher on Monday after a gauge of factory activity for the eurozone unexpectedly improved.
