Top Stocks in Focus For October 20

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Top Stocks in Focus For October 20
Credit: © Reuters.

By Malvika Gurung

Investing.com -- With global cues looking strong, positive earnings results, reviving economies across the world, and improving investor sentiments, the Indian benchmark indices are expected to open with some positive bias.

Major markets across the world recorded good results on Tuesday, with S&P 500 registering gains for the fifth consecutive session, while Nasdaq and Dow Jones Industrial Average rose by 0.7% and 0.6%, respectively.

The Nifty 50 Futures listed on the Singapore-based Exchange SGX were trading at 18,443.80, up by 0.04% or 8.15 points at 8:24 am on Wednesday, indicating a flat opening for the Indian benchmark indices.

Besides, Japan’s Nikkei 225 was also up by 0.16% 29,261.51 and South Korea's KOSPI 50 also showed marginal gains.

Stocks in focus before the market opens

Reliance Industries (NS: RELI ): Days after announcing to acquire a 40% stake in the luxury home-grown brand MM Styles Pvt Ltd, Reliance Retail Ventures has acquired a 52% stake in the country’s oldest fashion house Ritu Kumar, which will give the conglomerate access to Label Ritu Kumar, RI Ritu Kumar, aarké, and Ritu Kumar Home and Living, besides Ritu Kumar.

Bajaj Auto (NS: BAJA ): Due to heavy rains and floods in Uttarakhand, Bajaj Auto has reportedly halted its production at Pantnagar for precautionary measures, states a source.

L&T (NS: LART ) Tech: L&T’s subsidiary has surpassed market estimates at all fronts in its second-quarter earnings results, with a 6.4% growth in net profit QoQ and 39.1% YoY, recorded at Rs 230 crore.

ACC (NS: ACC ): The cement maker’s consolidated net profit for the quarter ending September rose by 24% YoY at Rs 450 crore, while its net sales hiked by 5% for the same measure to Rs 3,653 crore, despite rising energy costs.

Deepak Fertilisers and Petrochemicals Corp Ltd (NS: DPFE ): The Indian fertilizer manufacturer in its meeting held on Tuesday, approved the issuance of equity shares to raise funds by setting up a qualified institutions placement, following the SEBI ICDR Regulations.

Nestle (NS: NEST ) India: The FMCG major’s net profit grew by 15% in the September quarter, up 15% QoQ and 5% YoY. The major’s revenue too hiked by 12% QoQ and 10% YoY at Rs 3,882.6 crore for the quarter.

ICICI Securities: Attributing to improving margins and growing revenue, the capital market company reported a 26% surge in net profit to Rs 351 crore for the quarter ending September.

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