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Thursday, 22 October
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The people’s newsroom

EconomyMarkets

HPCL, Swiggy, Havells and Colgate report today as Jio IPO enters day two

Hindustan Petroleum's numbers will show how far a recovery in fuel margins has repaired a record June-quarter loss. Eternal and Indian Hotels trade on their results for the first time.

From the editorial desk · MumbaiPublished

Key points

  1. Hindustan Petroleum reports after a ₹11,526 crore loss in the June quarter.
  2. Swiggy, Havells India, Colgate-Palmolive (India) and Cyient are among dozens of companies reporting on Thursday.
  3. The Jio Platforms IPO is open for a second day after being subscribed three times on Wednesday.

Hindustan Petroleum, the food delivery company Swiggy, the electricals maker Havells India and Colgate-Palmolive (India) are among dozens of companies due to report September-quarter results on Thursday, a busy day that also brings the second day of bidding for the Jio Platforms share sale.

Results to watch

Hindustan Petroleum’s board meets to approve results that will show how much of a recovery the state-run refiner has made after a ₹11,526 crore loss in the June quarter. Estimates vary widely. ICICI Securities and JM Financial are reported to expect a return to profit of about ₹2,647 crore to ₹2,700 crore on better fuel marketing margins and inventory gains. The company holds its call with analysts at 11 am on Friday.

Chennai Petroleum, Adani Total Gas and Adani Energy Solutions also report.

Swiggy, Eternal’s main rival in food delivery and quick commerce, reports a day after Eternal said its profit nearly doubled and Blinkit’s store count would pass 3,500 by March 2027. Colgate-Palmolive’s revenue is expected to rise about 12.7% and its profit about 11%, with investors also watching for an interim dividend.

Other companies on the list include the engineering services firm Cyient, the dairy company Hatsun Agro Product, the cement makers Orient Cement and Nuvoco Vistas, the microlender CreditAccess Grameen and Bluestone Jewellery & Lifestyle.

First trade on Wednesday’s results

Eternal shares react for the first time to its 92% rise in profit to ₹125 crore. Indian Hotels, which raised its revenue growth forecast for the year to 15-17%, also trades on its numbers.

Share sales and the rest of the day

The ₹30,213 crore Jio Platforms offer is open for a second day after drawing bids for 3.01 times the shares on offer on Wednesday, led by institutions. Retail investors had taken up 68% of their portion. Bidding closes on Friday.

The market will also be digesting the Reserve Bank’s minutes from Wednesday evening, which ruled out rate cuts in the near term. Polish Prime Minister Donald Tusk is due to hold talks with Prime Minister Narendra Modi in Delhi.