EconomyWeek ahead
Infosys, Kotak Bank and Bajaj Finance report in a week dominated by the Jio IPO
More than 30 large companies are due to publish September-quarter numbers between Monday and Saturday, while the ₹30,200 crore Jio Platforms offer tests how much money the market has to spare.
Key points
- Bajaj Finance, UltraTech Cement and Hindustan Zinc open the week's results on Monday, 19 October.
- Infosys, Dr Reddy's, JSW Steel and IndusInd Bank are scheduled for Friday, 23 October.
- The Jio Platforms IPO is open from 21 to 23 October at ₹1,065-1,119 a share.
Indian investors face one of the busiest weeks of the results season, with more than 30 large companies due to report between Monday and Saturday while what could be India’s biggest IPO takes bids.
The week starts with finance and materials. Bajaj Finance, UltraTech Cement, Hindustan Zinc and Union Bank of India are scheduled to report on Monday, 19 October, along with IREDA, Piramal Finance, L&T Technology Services and Just Dial. Their numbers will land on a market that rose 3.1% last week on the back of strong IT results.
Midweek: food delivery and fuel
There are no big names on Tuesday. On Wednesday, Eternal, the parent of Zomato and Blinkit, reports along with Indian Hotels, Adani Green Energy, SRF and Mahindra & Mahindra Financial Services.
Thursday brings its rival Swiggy, the state-run refiner Hindustan Petroleum and Chennai Petroleum, as well as Havells India, Colgate-Palmolive (India) and Adani Energy Solutions. With Brent crude closing near $110 on Friday, the oil companies’ comments on margins and the cost of imports will be read closely.
Friday’s crowd
The heaviest day is Friday, 23 October. Infosys is on the list after peers TCS, Wipro and Tech Mahindra drove last week’s rally in technology shares. Dr Reddy’s Laboratories, Torrent Pharmaceuticals, JSW Steel, Jindal Steel, IndusInd Bank, Shriram Finance, Bharat Petroleum, Adani Power, Coforge, Shree Cement, Godrej Properties and Bank of India are also scheduled.
On Saturday, 24 October, Kotak Mahindra Bank, AU Small Finance Bank and IDFC First Bank close the week. Kotak will be compared with the large private banks that reported this Saturday, when ICICI Bank’s profit grew 20% and HDFC Bank’s 4.7%.
Dates on exchange calendars can shift, and companies confirm the timing in their own filings.
Jio and the money question
The other big event is the Jio Platforms initial public offering, which opens on Wednesday and closes on Friday. At ₹1,065-1,119 a share, it is worth about ₹30,200 crore at the top of the band. Market watchers will see whether it draws money away from other shares. Paras Healthcare opens its ₹1,450 crore issue the same day.
Before that, four offers take their last bids on Monday: Zetwerk, Tonbo Imaging, Bonfiglioli Transmissions and Sahajanand Medical Technologies. HD Fire Protect lists on Wednesday and Fusion CX on Thursday.
Data and global events
The Reserve Bank of India will publish its weekly foreign exchange reserves on Friday, after five straight weekly falls left them at $726.03 billion on 9 October. US Secretary of State Marco Rubio meets External Affairs Minister S Jaishankar in Mumbai on Tuesday, with energy on the agenda.
Abroad, oil traders will watch the US government’s weekly petroleum inventory report on Wednesday. The US Federal Reserve is in its quiet period before its 27-28 October meeting, so no policymakers are due to speak. The main US data point is the preliminary S&P Global purchasing managers’ indexes for October, due on Friday. Netflix, Tesla and Meta report their results in the middle of the week.
On the charts, the Nifty ended Friday at 23,146.15, with 23,300 seen as the next level to clear.