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Several Indian major companies are set to announce their Q3 results this week. These include Axis Bank, Tech Mahindra, Bajaj Finserv, Bajaj Holding & Investment, Cipla, Reliance Industries, Dr. Reddy’s, Maruti, PNB Housing, Mahindra Logistics, Torrent Pharmaceuticals, Netripples Software Ltd, Ujaas Energy Limited, and Jubilant Foodworks. Despite the Dussehra holiday on Tuesday, Alok Industries will still release their earnings.
Other significant companies releasing results later in the week include Vodafone (NASDAQ:VOD) Idea and Punjab National Bank on Thursday; Maruti Suzuki India, Reliance Industries, Bharat Petroleum Corporation on Friday; and NTPC, IDFC First Bank (NASDAQ:FRBA), AU Small Finance Bank on Saturday. Additionally, Mahindra & Mahindra Financial Services will also announce their results along with Tamilnad Mercantile Bank (NASDAQ:MBWM) and Macrotech Developers.
Last week saw a dip in both BSE and Nifty indices. The BSE benchmark plunged by 885.12 points or 1.33 percent while Nifty declined by 208.4 points or 1.05 percent. The Sensex closed at 65,398.56, down by 230.68 points, while Nifty fell 84.10 points to end the week at 19,540.60.
Global and domestic events like UK services PMI, US manufacturing and services PMI, US GDP, initial jobless claims will also be in focus. Upcoming IPOs include Blue Jet Healthcare, On Door Concepts, Shanthala FMCG Products, Paragon Fine and Specialty Chemicals, and Maitreya Medicare’s IPO. Several companies including IRM Energy, WomanCart, and Arvind and Company Shipping Agencies are expected to get listed next week.
The markets will remain closed on Dussehra due to the holiday. The fragility of global markets is due to the rising US bond yield, global economic uncertainty, and geopolitical situations.
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