Dalal Street is likely to open in the green today and make an attempt to conquer new highs after Tata Motors announced excellent Q2.
Wall Street suffered a rare pullback on Tuesday as bank stocks dropped and worries about Europe's debt mess continue to resurface, sparking heavy selling of the closely-watched euro.
Asian markets are trading in the green and is likely to boost Dalal Street.
Tata Motors - Superb Q2
Tata Motors reported its highest-ever quarterly profit, boosted by a 43% jump in revenue at the Jaguar Land Rover unit in the UK, topping analysts forecasts. Shares zoomed nearly 3% to a record high of Rs 1,271 on the BSE. The company announced the results after market hours.
Tata Motors saw its total revenue increase 37% to Rs 28, 782 crore in the quarter. Tata Motors CFO C Ramakrishnan attributed the increase in earnings to strong volume growth across trucks, buses and cars, price increases and continued cost reduction efforts.
Hindaclo's Q2 - Inline with expectations
India’s largest aluminum producer Hindalco Industries posted a 26% increase in standalone net profit due to higher realisations from aluminum during the second quarter. The company’s net profit jumped to Rs434 crore in the July-September quarter as against Rs344 crore a year earlier.
Stock might witness a cool-off in today's trade.
Markets - All time highs ?
Markets are all set to conquer all time highs and might even shoot up further in the coming days. After the final hour push into the positive territory, Nifty looks strong for an upmove. Realty and Infrastructure are the two dark horse sectors on the street. Keep an eye