The Indian stock market is expected to open with modest gains on Thursday. At around 7:30 a.m., Gift Nifty was trading around 22,600, up 8 points or 0.04%.
However, market volatility may persist amid weakness in the rupee and uncertainty over interest rates. Analysts said that if the Reserve Bank of India (RBI) moves towards a cycle of interest rate hikes, it could affect sentiment in the stock market. Investors will also track quarterly results and key corporate announcements from several companies.
TCS, GM Breweries, K&R Rail Engineering, Lotus Chocolate Company and Onix Solar Energy are scheduled to release their quarterly earnings figures on Thursday. The results of these companies across the IT, consumer and manufacturing sectors could lead to activity in their respective stocks.
PC Jeweller reported a 28% increase in consolidated revenue. The company said business was supported by consumer demand. It also received Rs 142 crore under outstanding export receivables.
Senco Gold reported a 31% increase in total revenue. Retail revenue rose 29%, while same-store sales increased 19%.
Jubilant FoodWorks reported an 11.6% increase in standalone revenue to Rs 1,885.8 crore. Like-for-like growth at Domino’s India was 4.1%, while the Eurasia business recorded a 2.1% decline. The company also opened 108 new stores, taking its total store count to 3,820.
Gujarat Pipavav Port reported a 17% increase in container cargo volume to 1.92 lakh TEUs from 1.64 lakh TEUs a year earlier. Dry bulk cargo volume, however, declined to 0.94 million metric tonnes from 1.05 million metric tonnes.
Fino Payments Bank reported a 17% decline in the number of newly opened accounts to 2.45 lakh. Average total deposits, however, increased 13% to Rs 2,794 crore from Rs 2,480 crore.
TD Power Systems launched a QIP on October 7, with the floor price set at Rs 775.35 per share. The company plans to raise up to around Rs 600 crore through the issue.
Tata Power has partnered with Norway-based Ocean Sun to bring membrane-based floating solar technology to India.
BMC, along with Godrej Properties and RC Group, announced the first phase of a landscaped bayside promenade at Mumbai’s Bandra Bay.
Allcargo Terminals reported September volume of 61,800 TEUs, down 7% year-on-year and 6% month-on-month.
Hindustan Aeronautics approved the appointment of DRDO’s Anindya Biswas as a part-time official director.
HCLTech has started a new regional headquarters in Johannesburg.
The board of Ola Electric Mobility approved a rights issue of Rs 999.73 crore at Rs 27 per share. The record date has been set for October 13.
In an old tax matter involving MRF, the total tax demand was reduced to Rs 36.19 crore from Rs 91.53 crore following an amendment.
