Indian Shares Open Higher With Earnings In Focus

Earnings
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Summary · why it matters

Indian shares opened higher on Friday despite weak global cues, with the BSE Sensex up 625 points, or 0.8 percent, at 77,812 and the NSE Nifty index surging 162 points, or 0.7 percent, to 24,235. Investors are pinning hopes that an upcoming MSCI index rebalancing, which could add up to 12 stocks, may trigger about $2.3 billion in passive investment flows. Reliance Industries advanced 1.4 percent and JSW Steel added 0.7 percent ahead of their Q1 earnings results due later in the day. Jio Financial Services surged 3.6 percent after Q1 consolidated net profit soared 156 percent year-on-year, while Tech Mahindra rallied 2.7 percent after strong Q1 earnings with quarterly consolidated profit rising 28.4 percent year-on-year. Wipro fell more than 2 percent after its first quarter results and guidance for the September quarter came in below expectations, and Ceat plummeted 8.4 percent after Q1 profit slumped 96.4 percent year-on-year on the back of forex losses and rising input costs.

Impact on stocks 2

Energy Transition & Power Demand▲ · 1 stocks
Information Technology▲ · 1 stocks

Off-coverage companies 3

Ceat LtdPrivate▼ Negative
Capitalrelevance

Q1 profit slumped 96.4% year-on-year due to forex losses and rising input costs.

Jio Financial Services LimitedPrivate▲ Positive
Capitalrelevance

Q1 consolidated net profit soared 156% year-on-year.

Tech Mahindra LimitedPrivate▲ Positive
Capitalrelevance

Strong Q1 earnings with quarterly consolidated profit rising 28.4% year-on-year.

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