Stocks in News Today, November 1: Indian stocks are expected to have a positive start on Tuesday as the SGX Nifty - an early indicator of sentiment on the NSE Nifty50 - was up by 106 points, or 0.6 per cent in early trades. Asian markets too traded higher today morning, hinting that bulls will be in action at Dalal Street. While Japan’s Nikkei 225 gained 0.15 per cent, South Korea’s Kospi rose 1.07 per cent. Similarly, the Hang Seng index in Hong Kong briefly rose 2 per cent in early trade, and Mainland China’s Shanghai Composite gained 0.23 per cent.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

On the other hand, US stocks lost ground on Monday, with the major indexes closing out a strong month of gains on a weaker foot, as investor focus turned to the Federal Reserve's policy meeting this week. The S&P 500 lost 29.08 points, or 0.75 per cent, to end at 3,871.98 points, while the Nasdaq Composite lost 114.31 points, or 1.03 per cent, to 10,988.15. The Dow Jones Industrial Average fell 128.85 points, or 0.39 per cent, to 32,732.95.

Earlier on Monday, the Sensex finished above the psychologically key 60,000 mark while the Nifty surged past the 18,000 level on Monday on across-the-board buying amid a mixed trend overseas.

Stocks in News Today, November 1

Tata Steel: Domestic steel giant Tata Steel reported a nearly 90 per cent drop in consolidated net profit to Rs 1,297 crore for the July-September quarter of 2023-23, dragged by higher expenses. The company's net profit stood at Rs 12,547.70 crore in the corresponding period of the previous financial year, Tata Steel said in a BSE filing.
Its total income during July-September 2022 stood at Rs 60,206.78 crore as against Rs 60,657.98 crore in the year-ago period.

Airtel: Bharti Airtel has posted an 89 per cent year-on-year rise in consolidated net profit for the September quarter to Rs 2,145 crore, as higher revenue per user, more data consumption, and expanded 4G base boosted realisations. Airtel's total revenue rose nearly 22 per cent year-on-year to Rs 34,527 crore during the just-ended quarter.
 
Larsen & Toubro: Engineering and construction major Larsen & Toubro (L&T) reported a 26 per cent rise in consolidated net Profit After Tax (PAT) at Rs 2,819.20 crore for the quarter that ended September on the back of higher revenue from operations.

Axis Bank: Private investment firm Bain Capital is likely to sell a 1.24 per cent stake, worth Rs 3,350, in Axis Bank through block deal, according to media reports.