 "Higher opening seen as global stocks shine; RIL in focus")
Markets are set to open on a higher note after firming inflation data and a signs of a strong labour market in US lifted the Asian stocks higher rallying near two-month high. Meanwhile, investors will keenly watch out for the results to be posted by the energy major Reliance Industries later during the session.
STOCKS ON THE RADAR
RIL is likely to remain in focus ahead of the Q2 results due later today.
Mindtree surpassed analysts’ expectation with a 15.1% year-on-year jump in net profit during the July-September period at Rs 158 crore on a revenue of Rs 1,169 crore, on the back of recent acquisitions.
DB Corp witnessed flat revenue growth in the September quarter from Rs 484.8 crore last year to Rs 483.6 crore this year. Profit after tax came down 13.2 per cent from Rs 6.8 crore in September quarter of 2015 to Rs 5.8 crore in corresponding quarter in 2016.
With uncertainty looming over its alumina refinery at Lanjigarh in Odisha's Kalahandi district, Vedanta has started laying off workers at its one-million tonne per annum alumina plant.
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Tata Motors reported 21% increase in its global sales, including that of Jaguar Land Rover (JLR) vehicles, at 97,102 units in September.
Oil marketing companies on Thursday announced a rise of 95 paise in diesel rates, but kept the petrol prices unchanged to align the domestic prices with global product prices. Now, diesel will cost Rs 45.9, including local taxes, in Delhi. The new rates will be effective from Thursday midnight.
Jay Bharat Marutir eported standalone net profit of Rs. 9.94 crore for the quarter, registering growth of (18.79%) YoY and 24.71% QoQ, said a media report.
Bharti airtel and Idea Cellular are likely to hog limelight after the sector regulator indicated that the telecom operators may have to pay consumers Rs 1 as compensation for every call drop experienced.
Bharti airtel and Idea Cellular are likely to hog limelight after the sector regulator indicated that the telecom operators may have to pay consumers Rs 1 as compensation for every call drop experienced.
GLOBAL STOCKS
Asian shares are gaining following strength in the Wall Street's after firm US price and jobless claims numbers calmed the nerves of the investors regarding the strength of the US economy. Nikkei, Hang Seng and Shanghai Composite are trading higher between 0.7-1.5%.
Equities in the US market surged after U.S. consumer prices declined the most in eight months as gasoline costs fell in September, but a rise in core CPI, which strips out food and energy costs, suggested inflation was starting to firm. Unemployment benefit claims fell in the last week, pointing to a strong labor market.