Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Indian shares mostly flat; big earnings in focus

10/27/2021 | 01:38am EST

BENGALURU, Oct 27 (Reuters) - Indian shares held steady on Wednesday as consumer and IT stocks negated losses in private banks, while investors awaited a slew of big companies to report their earnings later in the day.

The blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex rose 0.1% each to 18,293 and 61,390 respectively, by 0521 GMT.

The Nifty fast moving consumer index advanced 0.6%, while the information technology index climbed 0.4%.

Analysts said market participants were worried about the impact of commodity inflation on corporate profit margins.

"There is top line growth in earnings, but there is margin impact due to raw material, employee costs. People have to be sector- and stock-specific when it comes to investment," said A K Prabhakar, head of research at IDBI Capital.

Many top-tier companies including leading car maker Maruti Suzuki, Larsen & Toubro, cigarette maker ITC , Bajaj Auto, Titan Company and Adani Enterprises will report their earnings on Wednesday.

Shares of paint companies surged after reports Asian Paints was planning steep price hikes to offset commodity costs. Asian paints rose 4.7%, while Berger Paints, Shalimar Paints, Akzo Nobel India gained more than 2% each.

"Our recent interactions with channel partners (paint dealers) suggest that Asian Paints is planning to execute the steepest price increases of 15-45% in the history of the paint industry," Centrum Broking said in a report.

Shares of Kotak Mahindra Bank rose as much as 2% to a record high after the company posted a better-than-expected quarterly profit, while Zensar Technologies jumped 8% after reporting strong results.

Private-sector lender Axis Bank fell as much as 5.1% on weaker loan and margin growth compared to peers, dragging down the Nifty private bank index by 0.6%. (Reporting by Nallur Sethuraman in Bengaluru; Editing by Subhranshu Sahu)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED 2.03% 1679.7 End-of-day quote.250.67%
AKZO NOBEL INDIA LIMITED -0.45% 2072.7 End-of-day quote.-14.13%
ASIAN PAINTS LIMITED -0.26% 3030.35 Delayed Quote.9.90%
AXIS BANK LIMITED 3.60% 687.2 End-of-day quote.10.78%
BAJAJ AUTO LIMITED 1.13% 3286.45 End-of-day quote.10.30%
BERGER PAINTS INDIA LIMITED 1.43% 735.95 End-of-day quote.-3.08%
ITC LIMITED 1.26% 220.65 Delayed Quote.4.26%
KOTAK MAHINDRA BANK LIMITED 2.74% 1938 End-of-day quote.-2.88%
LARSEN & TOUBRO INFOTECH LIMITED 0.01% 6556.4 Delayed Quote.79.15%
MARUTI SUZUKI INDIA LTD 2.04% 7186.6 Delayed Quote.-7.93%
SHALIMAR PAINTS LIMITED 3.60% 106.35 End-of-day quote.18.69%
TITAN COMPANY LIMITED 2.39% 2381.5 End-of-day quote.51.93%
ZENSAR TECHNOLOGIES LIMITED -1.88% 425.9 End-of-day quote.79.52%
Latest news "Economy & Forex"
12:34pOil CEOs raise alarm over market's readiness to drop fossil fuels
12:34pWall Street leaps as Nasdaq rallies 3% on boost from Big Tech, chipmakers
12:27pUS EPA to set reduced ethanol blending volumes, reject small refinery waivers - sources
12:24pNigerian wellhead has spilled 2 mln barrels of oil and gas, says senate
12:20pU.s. senate votes 68-31 to confirm fcc chair jessica rosenworcel to new five-year term
12:20pSenate confirms Rosenworcel to new term on U.S. FCC
12:19pEU may face shortage of key materials for diagnostics, cancer treatments
12:13pU.S. natgas output and demand to rise in 2021 -EIA
12:08pIndian farming union to evaluate latest government offers
12:04pUSDA to announce $700 million in biofuel grants on Tuesday
Latest news "Economy & Forex"