Market This Week, Auto Stocks in Focus

The last week-ended Friday witnessed some selling force in stocks, in which the indices declined for four days, in five trading sessions. Consequently, the NSE Nifty lost 2.4 pc as unrelenting selling pressure on Indian stocks. Strong resurgence of coronavirus cases in Europe and U.S were the biggest threats for the markets. Some particular stocks reacted to their results last week making some positive inputs in the benchmark.

Today (Monday) Reliance Industries’ stock is expected to react in trade, as the company posted a consolidated net profit at Rs. 9567 crore, a 15 percent year-on-year decline, for the just-ended September quarter of FY21. In the corresponding quarter last year, the Company recorded a profit of Rs. 11262 crore.

Auto stocks will be in focus as auto companies is announcing monthly sales performance for October starting from 1 November 2020.

NTPC Ltd, HDFC, and Oracle Financial Services Software are declaring their July-September quarterly results on Monday 2 November 2020. Adani Ports&Special Economic Zone and Sun Pharmaceuticals Industries will announce their quarterly results on 3 November 2020. State Bank of India, Hindustan Petroleum Corporation, and Lupin will declare their July-September quarterly results on 4 November 2020. Vedanta, ITC, and Cipla will announce their July - September quarterly results on 6 November 2020. Based on their performance these stocks will be closely watched out in trade this week.

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