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Week ahead: L&T, Maruti, HUL and Asian Paints report as Jio lists and the Fed decides
The results season moves from technology and banks to cars, cement, consumer goods and infrastructure. Jio Platforms is due to start trading on Wednesday, the same day the US central bank announces its rate decision.
Key points
- Larsen & Toubro, Maruti Suzuki, Bajaj Auto and Cipla are scheduled to report on Tuesday, 27 October.
- Jio Platforms is due to list on BSE and NSE on Wednesday, 28 October, after allotment on Monday.
- The US Federal Reserve announces its decision on 28 October, late evening India time.
The September-quarter results season changes shape next week. After the software companies and banks, it is the turn of carmakers, engineering and consumer goods companies, with Larsen & Toubro, Maruti Suzuki, Hindustan Unilever and Asian Paints among the big names. Jio Platforms makes its stock market debut on Wednesday, hours before the US Federal Reserve announces its decision on interest rates.
Indian shares start the week on the back foot. The Sensex fell 2.15% last week and has dropped four sessions in a row, and Infosys cut its revenue forecast after Friday’s close.
The weekend and Monday
Kotak Mahindra Bank, IDFC First Bank and AU Small Finance Bank are scheduled to report on Saturday, along with J K Cement and Castrol India. Kotak’s numbers follow IndusInd Bank’s return to profit on Friday.
On Monday, 26 October, Mankind Pharma, KFin Technologies, Sona BLW Precision Forgings, Aavas Financiers, Five-Star Business Finance and Tamilnad Mercantile Bank are on the calendar.
The heavy days
Tuesday, 27 October, is the busiest day. Larsen & Toubro, the country’s largest engineering and construction company, reports along with the carmaker Maruti Suzuki and the two-wheeler maker Bajaj Auto. Cipla, ACC, Indus Towers, Syngene International and Tata Capital are also due.
Hindustan Unilever, Adani Ports and Special Economic Zone, Hero MotoCorp, United Spirits, Pidilite Industries and Cholamandalam Investment and Finance are scheduled for Wednesday. Asian Paints, Trent, Godrej Consumer Products and Ambuja Cements follow on Thursday, and GE Vernova T&D India and Navin Fluorine International on Friday. Dates can shift, and companies confirm them in their filings to the exchanges.
Jio’s debut
Jio Platforms allots shares on Monday after its ₹30,213 crore issue drew bids for 22.19 times the shares on offer. Refunds and demat credits follow on Tuesday, and the shares are due to start trading on BSE and NSE on Wednesday, 28 October.
Data at home and abroad
The Reserve Bank of India publishes foreign exchange reserves for the week to 23 October on Friday. Reserves have fallen for six weeks to $721.02 billion. By the usual timetable, September’s industrial output figures and the government’s accounts for April to September are due around the month’s end.
The Fed’s two-day meeting begins on Tuesday, and its decision comes on Wednesday at 2 pm in Washington, 11:30 pm in India. Markets see little chance of a rate rise. On Thursday the US releases its first estimate of growth in the July-September quarter and the personal consumption expenditures price index, the Fed’s preferred inflation gauge. Alphabet, Eli Lilly, Coca-Cola and FedEx are among the US companies reporting.
Behind it all sits oil. Brent crude ended last week above $115 a barrel on fears of renewed strikes on Iran, with the US midterm elections on 3 November also in view.
The week at a glance
- Sat 24 OctKotak Mahindra Bank, IDFC First Bank, AU Small Finance Bank results
- Mon 26 OctJio Platforms share allotment; Mankind Pharma, KFin Technologies results
- Tue 27 OctL&T, Maruti Suzuki, Bajaj Auto, Cipla results; Fed meeting begins
- Wed 28 OctJio Platforms lists; HUL, Adani Ports results; Fed decision at 11:30 pm IST
- Thu 29 OctAsian Paints, Trent results; US GDP and PCE inflation data
- Fri 30 OctRBI forex reserves data; GE Vernova T&D, Navin Fluorine results