Q2 results today: On Wednesday, October 16, several companies are set to release their earnings, including Accelya Solutions India, Aditya Forge, Bajaj Auto, Aditya Birla Money, Citizen Infoline, CRISIL, Hi-Tech Winding Systems, Himadri Speciality Chemical, L&T Technology Services, Mphasis, Nutraplus India, Pasari Spinning Mills, Pondy Oxides & Chemicals, Rajnish Wellness, Sai Industries, Saptak Chem and Business, Shah Metacorp, South Indian Bank, and Tips Music. These results are expected to provide crucial insights into various sectors, from financial services to manufacturing.
Market Watch
The Indian stock markets opened lower on October 16, with both the Sensex and Nifty indices moving into negative territory due to weak cues from global markets. IT and automobile stocks weighed on the Nifty, while gains in banking and oil & gas sectors helped mitigate some of the decline.
As of 9:18 am, the Sensex was trading 162 points, or 0.2 per cent, lower at 81,657, while the Nifty wast at 25,021, down 36 points, or 0.1 per cent. Market breadth showed that 1,446 stocks advanced, 938 declined, and 135 remained unchanged.
On Tuesday, the Indian benchmark indices ended the day in the red, with the Nifty closing below the 25,100 mark. The Sensex declined by 152.93 points, or 0.19%, to settle at 81,820.12, while the Nifty dropped 70.70 points, or 0.28%, to finish at 25,057.30.
The market sentiment on October 15 was characterised by bearish activity, as 21 out of the 30 stocks in the BSE Sensex closed lower. Bajaj Finance, Reliance Industries, Tata Steel, JSW Steel, and Tech Mahindra were among the top losers, with declines of up to 2.5%. On the other hand, some stocks managed to perform well despite the downward pressure. ICICI Bank, Bharti Airtel, Asian Paints, Adani Ports, and UltraTech Cement were among the top gainers, posting gains of up to 2%.
Bajaj Auto Q2 Result Preview
Bajaj Auto is expected to record a revenue growth of 23.41% to ₹13,300 crore in Q2FY25 from ₹10,777 crore in the same quarter last fiscal year, according to a poll of six brokerages by Livemint.
“Domestic volumes grew 21% YoY, while export volumes rose 7% YoY. In domestic motorcycles, after many quarters, the mix is estimated to have deteriorated given higher sales of Chetak and Freedom 125 and a normalizing momentum for Pulsar 125,” Motilal Oswal said.
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