Tata Steel, Zomato, Yes Bank, Nykaa, BPCL, Kalyan Jewellers, Future Retail, Zee Ent stocks in focus

Nifty futures were trading 50.50 points or 0.28 per cent down at 17,965 on Singaporean Exchange, suggesting a weak start for BSE Sensex and Nifty 50 on Thursday. Investors will closely track the ongoing IPOs, last leg of Q2 earnings, oil prices, rupee movement against US dollar, and other global cues. Moreover, markets may see volatility on account of weekly F&O expiry day. “On an immediate basis 18100 – 18200 should be seen as crucial resistances; whereas with a broader view, 18350 stands to be a crucial level which if gets surpassed, Nifty could see new highs thereafter. On the flipside, 17950 – 17850 are to be considered as key supports,” Sameet Chavan, Chief Analyst – Technical & Derivatives at Angel One, said.

Stocks to watch

Tata Steel, ZEEL: A total of 376 companies including Tata Steel, Balkrishna Industries, Bharat Dynamics, Engineers India, Godrej Consumer Products, HUDCO, Natco Pharma, NHPC, NMDC, Power Finance Corporation, Prestige Estates Projects, RailTel Corporation, Suryoday Small Finance Bank, and Zee Entertainment Enterprises among others will release September quarter earnings on November 11.

Zomato: Foodtech start-up Zomato, which recently went public, reported a higher net loss of Rs 434.9 crore during the second quarter of the ongoing financial year (Q2FY22), compared to a loss of Rs 360.7 crore reported in the previous quarter.

Nykaa: Fashion and cosmetics retailer Nykaa on Wednesday made a sizzling debut on the bourses, listing at Rs 2,001 on the BSE, a huge premium over the issue price of Rs 1,125. The e-commerce player commands a market capitalisation of Rs 1.04 lakh crore, and is the country’s 52nd most valuable company.

Yes Bank: Yes Bank’s rating has been upgraded from B3 to B2 by Moody’s Investors Service. The agency has also changed the bank’s outlook “from stable to positive”.

Kalyan Jewellers: Jewellery retailer Kalyan Jewellers on Wednesday reported a second quarter consolidated net profit of Rs 69 crore, with consumer sentiments improving in key markets. The Thrissur-based company had reported a consolidated loss of Rs 136 crore in the Q2 of FY21.

BPCL: The bidders for state-run oil marketer-cum-retailer BPCL are understood to be anxious about what they perceive as a lack of definite timelines for the company’s privatisation process, as they think any delay could impair their ability to arrange funds. Seeking anonymity due to the discreet nature of the deliberations, a person familiar with the matter said that, “big-ticket investors are waiting for clarity on the timelines of the auction process before making their final investment commitments”.

Bank of Baroda: State-owned Bank of Baroda on Wednesday reported a 24.4% year-on-year rise in net profit for the quarter ended 30 September to Rs 2,088 crore, backed by higher other income. The lender had reported a net profit of Rs 1,209 crore in the June quarter.

Future Retail: A promoter entity of Kishore Biyani’s Future Retail Ltd (FRL) has been asked by the Enforcement Directorate (ED) to provide documents pertaining to the embattled retail giant’s 2019 deal with Amazon, the firm said on Wednesday.