Morning Bell !!!!!.............RIL will be in focus after it reported Q2 results on Saturday. TCS and HDFC are among the big names announcing their results today

Indian equities logged one of their best weeks in recent memory, notwithstanding disappointing IIP and inflation reports. Strong earnings from Infosys coupled with growing optimism over the euro zone situation and hope of QE3 in the US were among the factors that drove the sentiment.


Much of that feel-good will spill over to this week. A positive start is in the offing owing to healthy trend across overseas markets. US indices climbed on the back of Google’s stellar results and encouraging retail sales. European benchmarks too closed higher.

Asian markets are up and about this morning after G20 finance chiefs said European leaders would decisively address the debt crisis through a comprehensive plan to be unveiled at a regional summit slated for Oct. 23.

RIL will be in focus after it reported Q2 results on Saturday. TCS and HDFC are among the big names announcing their results today.

Overall, the undercurrent seems to have improved. The continuation of this positive trend will hinge on corporate earnings, China’s GDP data (due on Tuesday), US economic statistics and European developments.

Results Today: Granules India, HDFC, IFCI, ING Vysya Bank, Mahindra Lifespaces, Mindtree, Motilal Oswal, Peninsula Land, Persistent Systems, South Indian Bank, TCS and Zee Entertainment.

Stocks In NEWS

- Rain Commodities board to approve buy back of shares in the board meet on Oct 25

- Jet fuel prices cut marginally by Rs 325/Kl

- Land Acquisition Bill may not hit the parliament soon: BS

- RTS Power approves allotment of 3.8 lakh equity shares at Rs 36/sh ((CMP: 30.50))

- States have decided to impose 4 – 5% VAT on sugar and textiles from next fiscal – BS

- LIC hikes stake in BoB to 7.12% from 4.67%

- Wholesale sugar prices up 3-5% head of festive demand – ET

- Finmin mulls raising cap for FII investment in infra bonds from current USD 5 billion – ET

- Maruti ’s component makers suffer Rs 1400 crore loss on Manesar unit (ET)

- AEG, Electrotherm to call off solar business deal, as companies cite poor demand from corporate & state govt (ET)

- Moser Baer staff strike over bonus demands (BS)

- RIL to suspend drilling for oil & gas until revaluation & fresh plan is submitted to govt (Mint)

- NIIT approves divestment of entire holding in its subsidiary NIIT Ventures for USD 110 million (M-cap:Rs 719cr, CMP: Rs 43.60)

Source:- Moneycontrol

Key Indices

SENSEX 17084.31 1.62 (0.01%)

NIFTY 5133.35 1.05 (0.02%)

CNX Midcap 7163.80 27.85 (0.39%)