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Wednesday, 21 October
Sensex73,852.90−1.17%
Nifty 5022,888.95−1.11%
₹ / $94.92+0.03
Repo rate5.50%+0.25 on 7 Oct
Markets: 19 Oct close
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Markets reopen to Jio's IPO, RBI minutes and Eternal's results on a crowded Wednesday

About 40 companies report on Wednesday, led by Eternal, Indian Hotels and Adani Green Energy, as the BSE and NSE trade for the first time since Monday's 876-point fall in the Sensex.

From the editorial desk · MumbaiPublished

Key points

  1. Around 40 companies report results on Wednesday, including Eternal, Indian Hotels and SRF.
  2. The ₹30,213 crore Jio Platforms IPO opens for public bids and closes on Friday.
  3. The RBI publishes the minutes of its October policy meeting, where it raised the repo rate to 5.5%.

Indian stock exchanges reopen on Wednesday after the Dussehra holiday to one of the busiest days of the results season. About 40 companies report, the country’s largest share sale opens for bids, and the Reserve Bank of India publishes the minutes of the meeting at which it raised interest rates.

The backdrop is shaky. The Sensex fell 876.37 points, or 1.17%, to 73,852.90 on Monday and the Nifty lost 257.20 points to 22,888.95, dragged down by Axis Bank and HDFC Bank. Results that came out after Monday’s close, from Bajaj Finance, Hindustan Zinc, L&T Technology Services and Piramal Finance, trade for the first time on Wednesday.

The results list

Eternal, the parent of Zomato and Blinkit, is the name most traders will watch.

Indian Hotels, the Tata group company that runs Taj hotels, reports on the same day, as do Adani Green Energy, the chemicals maker SRF, Mahindra & Mahindra Financial Services, the cable maker KEI Industries, the retailer Vishal Mega Mart and PC Jeweller.

Tuesday’s holiday was quiet for results. Only a handful of small companies, including Aptus Pharma, Pioneer Agro Extracts, Shardul Securities and Shree Ram Twistex, were scheduled to report.

Jio and the other share sales

The Jio Platforms initial public offer opens on Wednesday and closes on Friday, 23 October, at ₹1,065 to ₹1,119 a share. At the top of the band it raises about ₹30,213 crore, all through new shares. Anchor investors put in ₹8,110 crore on Monday. Allotment is due on 26 October and listing on 28 October.

Paras Healthcare’s ₹1,450 crore issue also opens on Wednesday, HD Fire Protect makes its market debut, and Tonbo Imaging is due to finalise share allotment ahead of a Friday listing.

The RBI’s minutes

The minutes of the Monetary Policy Committee’s October meeting will show how each member voted and why, after the RBI raised the repo rate by 25 basis points to 5.5%. With retail inflation at 5.54% in September and wholesale inflation at 11.39%, investors will look for signs of how many members want to go further.

Dividends and dates

Shares of ICICI Prudential Asset Management, Mangalore Refinery and Petrochemicals and Elecon Engineering trade without their interim dividends from Wednesday. The exchanges have also fixed this year’s Diwali Muhurat trading session for Sunday, 8 November, from 2:20 pm to 3:30 pm.

Overseas

Brent crude settled at $108.79 a barrel on Tuesday, a little lower but still close to five-month highs, and remains the biggest risk for Indian shares and the rupee. In the US, Tesla, Meta, IBM and Texas Instruments report after the close on Wednesday, early on Thursday in India. Swiggy, Hindustan Petroleum, Havells India and Colgate-Palmolive (India) are among Thursday’s results at home.