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Nykaa, HDFC, Zee Media, Jet Airways, Power Grid, Berger Paints, Petronet LNG stocks in focus

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Investors will closely watch the Paytm IPO, which closes for subscription today, and listing of Nykaa IPO shares. Moreover, Latent View Analytics, a data analytics firm, will be open for public subscription today.

Nifty futures tumbled over half a per cent or 108.50 points to 17,971.50 on Singaporean Exchange, suggesting a sell-off in BSE Sensex and Nifty 50 on Wednesday. Investors will closely watch the Paytm IPO, which closes for subscription today, and the listing of Nykaa IPO shares. Moreover, Latent View Analytics, a data analytics firm, will be open for public subscription today. Technical analysts say that the Nifty is now placed above the important moving average support of 10day and 20day EMA around 17970 levels. Unless this moving average support is violated decisively on the downside, there is a possibility of upmove in the market. “The market seems to be reluctant to pick up the upside momentum and stuck at the hurdle of around 18100 levels. Eventually, the market could break above this hurdle in the short term and move towards the next resistance of 18350 levels in the near term,” said Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities.

Stocks to watch

Berger Paints, Oil India: A total of 286 BSE-listed companies such as Bank of Baroda, Zomato, Affle India, Berger Paints, Glenmark Life Sciences, India Cements, Krishna Institute of Medical Sciences, Mazagon Dock Shipbuilders, Metropolis Healthcare, Nuvoco Vistas Corporation, Oil India, Pidilite Industries and Tata Teleservices among others will release September quarter earnings on November 10.

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Nykaa IPO shares: Nykaa, owned by FSN E-Commerce Ventures Ltd, whose IPO got 81.78 times subscription, is scheduled to make its stock market debut on Wednesday, 10 November 2021.

Indian Hotels: Tata group hospitality firm Indian Hotels Co Ltd (IHCL) on Tuesday said it has fixed the rights issue price at Rs 150 per share to raise a total of Rs 1,982.10 crore from the eligible shareholders.

HDFC: Housing Development Finance Corporation (HDFC) on Tuesday said it will raise Rs 3,000 crore by issuing bonds on a private placement basis. The issue for the secured redeemable non-convertible debentures (NCDs), bearing a coupon rate of 7.10 per cent per annum, will open for subscription on November 11, 2021, and close on the same day.

Zee Media Corporation: Zee Media Corporation Ltd on Tuesday said its board will consider issuing equity-linked securities to its promoters following a proposal from a promoter group entity to invest further in the company.

Jet Airways: Jet Airways, which remains grounded for more than two years now, recorded a standalone net loss of Rs 305.76 crore in the three months ended September.

Power Grid Corporation: State-run Power Grid Corporation of India’s consolidated net profit rose by 9 per cent to Rs 3,376.38 crore in the July-September quarter compared to the year-ago period mainly on the back of higher revenues.

Petronet LNG: Petronet LNG Ltd, India’s biggest liquefied natural gas importer, on Tuesday reported an 11 per cent drop in its September quarter net profit on reduced volumes.

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