Indian Equities Extend Losses Amid Global Concerns, Q2 Results In Focus
2023.10.25 13:27
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Indian equities continued their downward trajectory for the fifth consecutive day today, Wednesday, as global concerns weigh on investor sentiment. The and Nifty witnessed declines, with several companies set to announce their Q2 FY24 results.
Among these, ABSL AMC, ACC, Aavas Financier, Asian Paints, Canara Bank, Colgate Palmolive, Westlife Foodworld, Dixon Technologies, and Vodafone (NASDAQ:) Idea are all slated to reveal their financial performance for the quarter.
Axis Bank’s robust Q2 results may provide some respite to its shares. The bank posted a profit after tax (PAT) of Rs 5,864 crore for the quarter. On the other hand, Tech Mahindra’s shares could face pressure following its weak Q2 report that showed a 61.6% year-on-year net profit decline.
Other companies reporting varied financial performances include Sonata Software and Sona BLW Precision Forgings, both of which reported increased consolidated net profits year-on-year. In contrast, Jubilant Foodworks experienced a drop in standalone net profit compared to the same period last year.
In corporate actions scheduled for Thursday, shares of Jay Bharat Maruti will trade ex-split in a 5:2 ratio. Additionally, KSolves and TCI Express shares will trade ex-dividend in respect of the 70% and 150% interim dividend respectively.
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