Today’s Market News :
The GIFT Nifty is indicating a positive start for Indian benchmark indices, with Nifty futures trading at 25,085.5.
* Despite a rangebound session on October 11, where Nifty closed at 24,964.30, the overall sentiment remains optimistic.
* Global cues, including record highs in the S&P 500 and Dow, are contributing to the positive outlook for the Indian markets today.
Reliance Industries announces Q2 results today, with expected muted growth. Gold and silver prices remain high, with 10gm 24-carat gold at ₹77,843 and 1kg silver at ₹100,100.
Global cues: Oil prices surge over 1% in five days. Monitor market trends, sector rotation, and global economic indicators. Consult a financial advisor for personalized advice.
HCL Tech is set to announce its Q2 FY25 results, with revenue growth anticipated between 7-9% YOY, translating to revenue figures between Rs 26,672 crore and Rs 28,710 crore.
* Net profit estimates for the quarter range from Rs 3,832 crore to Rs 4,097 crore, indicating a growth of 4.9% to 15%.
* Despite overall negative market sentiments, HCL Tech’s shares have gained nearly 3% over the past five days, reflecting investor optimism ahead of the results.
Reliance Industries is in discussions to acquire a stake in Karan Johar’s Dharma Productions, which could enhance its content production capabilities amid financial challenges in the Hindi film industry.
* The Competition Commission of India has found that Meta’s WhatsApp violated competition laws, which could lead to penalties, highlighting the regulatory scrutiny faced by major tech companies in India.
* Infosys has promoted 25 senior executives in a bid to retain talent and ensure continuity after experiencing a significant management exodus over the past two years.
