Indian share markets rose 100 points in the afternoon session to finish in green for second consecutive day. At the closing bell yesterday, the BSE Sensex closed higher by 101 points and the NSE Nifty finished up by 23 points. The S&P BSE Mid Cap finished up by 0.2% while S&P BSE Small Cap finished up by 0.6%. Gains were largely seen in PSU stocks, power stocks and energy stocks.
Results Corner
Infosys share price is expected to be in focus as the company reported a 7% QoQ growth in net profit at Rs 37.26 billion for the September quarter. The company had reported a net profit of Rs 34.83 billion in the June quarter. On YoY basis, profit rose 3.4%. The company has cut its FY18 revenue growth guidance to 5.5-6.5% in constant currency from 6.5-8.5%. It is expecting to grow at 6.5-7.5% in dollar terms based on the exchange rates as of September 30.
HDFC bank share price finished up by 0.2% in yesterday’s trade. HDFC Bank Ltd reported a 20.1% jump in its September quarter net profit due to higher net interest income and other income. The bank reported a profit of Rs 41.51 billion up from Rs 34.55 billion a year ago.
Asian Paints share price is expected to see some action today as the company reported a 21% increase in its second-quarter profit. The company’s September quarter consolidated net profit Rs 5.76 billion versus Rs 4.76 billion last year. Revenue from operations rose to Rs 42.74 billion versus Rs 41.79 billion last year.
Hindustan Unilever share price, IDFC Bank share price and Kotak Mahindra Bank share price is expected to see some momentum as the company declare their results during market hours today.
The results also come at a time when the economy has slowed to a more than three-year low due the lingering impact of a ban on high-value currency notes late last year and the rollout of a national goods and services tax.
