Larsen & Toubro Infotech share price touches 52-week high
Larsen & Toubro Infotech share price touched a 52-week high of Rs 6,680 after company reported better numbers in the quarter ended September 2021.
The company’s Q2FY22 profit rose 11.1% at Rs 551.7 crore versus Rs 496.8 crore and rupee revenue was up 8.8% at Rs 3,767 crore versus Rs 3,462.5 crore, QoQ.
Larsen & Toubro Infotech was quoting at Rs 6,674.70, up Rs 767.70, or 13 percent.
Hindustan Unilever, Nestle India, 5paisa Capital, ACC, Consolidated Construction Consortium, DCM Shriram, Heidelbergcement India, ICICI Prudential Life Insurance Company, ICICI Securities, JSW Ispat Special Products, Jubilant Ingrevia, L&T Technology Services, Mastek, Navin Fluorine International, Nelco, Network18 Media & Investments, Oriental Hotels, Rallis India, Rane Brake Lining, Shakti Pumps, Standard Industries, Sonata Software, Tata Steel Bsl, and TV18 Broadcast.
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: Indian indices opened at fresh record high on October 19 with Nifty around 18,600 and Sensex crossing 62,000 for the first time.
At 09:16 IST, the Sensex was up 264.79 points or 0.43% at 62030.38, and the Nifty was up 76.50 points or 0.41% at 18553.50. About 1178 shares have advanced, 327 shares declined, and 81 shares are unchanged.
Hindustan Unilever Q2 Results Preview | Double-digit Growth In Topline Likely With Support From All Segments
Experts largely expect the company to grow its revenue in double digits with growth from all segments as the consumer demand improved better compared to June quarter that was hit by lockdown in several states to control the spread of second Covid wave. Also the growth in key segments was flattish in the base quarter (Q2FY21). Volume growth is expected to be in the range of 5-8 percent in the second quarter compared with the year-ago period.
Mohit Nigam, Head – PMS, Hem Securities:
Benchmark Indices are expected to open on a positive note as suggested by trends on SGX Nifty. US markets closed higher on the previous trading session while major Asian indices opened on a positive note today.
IT sector will be in focus as route mobile announced their earnings yesterday with visible growth which can help to provide a positive sentiment to the market as other mid and small IT companies will be releasing their quarterly earnings soon.
The Indian market is keeping a close look on the oil prices as rising crude prices is a risk for India which may hit the industrial growth.
The quarterly earnings season will be in full swing this week as nearly 200 companies will declare their July-September period scorecard. Vaccination drive has been going on smoothly across the country as Health Minister, Mansukh Mandaviya said India would reach 100-crore COVID-19 vaccination mark next week.
On the technical front, benchmark indices had gained for seventh consecutive sessions and looks like will continue this bull-run. Immediate support and resistance in Nifty 50 are 18,400 and 18,700 respectively.
Indian markets are likely to open on a positive note on the back of positive Asian cues as the prospects of solid corporate earnings counters concerns stemming from elevated inflation.
US markets ended mixed amid concerns over elevated inflation and global economic outlook ahead of release of quarterly earnings results during the week.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session amid positive global cues.
At 09:02 IST, the Sensex was up 352.67 points or 0.57% at 62,118.26, and the Nifty was up 111.10 points or 0.60% at 18,588.10.
Oil prices fell on Tuesday, with Brent down a second straight day, after Chinese data showed slowing economic growth and U.S. factory output dropped in September, raising fresh concerns about demand amid patchy recovery from the coronavirus pandemic.
Brent crude was down by 43 cents, or 0.5%, at $83.90 a barrel by 0132 GMT after falling 0.6% on Monday. The contract is still up nearly 7% this month.
U.S. oil fell 33 cents, or 0.4%, to $82.11 a barrel, having risen 0.2% in the previous session and nearly 10% this month.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 512.44 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 1,703.87 crore in the Indian equity market on October 18, as per provisional data available on the NSE.
India’s exports up 40.5% to $15.13 billion during October 1-14: Commerce Ministry
The country’s exports rose by 40.5 percent to $15.13 billion during October 1-14 on account of healthy performance by key sectors such as petroleum products, engineering and chemicals, according to preliminary data of the commerce ministry.
Imports during the period grew by 60.72 percent to $14.82 billion, the data showed.
RBI imposes Rs 1 crore penalty on State Bank of India
The Reserve Bank of India (RBI) on October 18, 2021, imposed a monetary penalty of Rs one crore on State Bank of India (SBI) for non-compliance with certain directions. The violation is related to rules pertaining to frauds classification and reporting by commercial banks and select financial institutions, the RBI said.
This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, the central bank said in a release.