Indian equity benchmarks ended higher on Friday, with the Nifty 50 and BSE Sensex posting modest gains. The Nifty 50 rose 116 points, or 0.51%, to close at 23,053. From a technical perspective, the short-term outlook for the Nifty remains positive as long as the index sustains above 22,800, said Vatsal Bhuva, Technical Analyst at LKP Securities.
Against this backdrop, several stocks, including Reliance Industries, Jio Platforms, Mahindra & Mahindra, CDSL, ITC, NTPC, Indian Oil Corporation and Hero MotoCorp, are likely to remain in focus on Monday, November 2 as the investors will track September-quarter earnings, monthly sales data, acquisition announcements, fundraising activity, operational updates and other corporate developments.
Mukesh Ambani-led Reliance Industries (RIL) on Friday reported a 41% year-on-year (YoY) increase in consolidated net profit attributable to shareholders at Rs 25,548 crore for the September quarter, compared with Rs 18,165 crore in the corresponding period last year.
The growth was supported by a strong performance from its oil-to-chemicals and digital services businesses.
Jio Platforms reported a 14% YoY increase in consolidated net profit at Rs 8,389 crore in its maiden quarterly results following its listing earlier in the week.
The performance was supported by healthy subscriber additions, growth in its digital services business and a marginal increase in average revenue per user (ARPU).
Revenue from operations rose 11% to Rs 40,475 crore from Rs 36,332 crore in the year-ago period.
