Stock Market today, October 23: Investors are expected to track a series of domestic and global economic indicators, corporate earnings, board meetings and IPO developments on Friday. Forex reserves and the HSBC Manufacturing PMI are among the key domestic data points, while manufacturing activity indicators from the US, UK, eurozone and Japan will also remain on the radar.
On the corporate front, Infosys, JSW Steel and Dr Reddy’s Laboratories are among the Nifty companies reporting earnings. Investors will also watch developments related to Titan Biotech, Shriram Finance and Lord’s Mark Industries, along with the closing dates of the Jio Platforms and Paras Healthcare IPOs.
Forex reserves, manufacturing PMI in focus
The latest forex reserves data and the HSBC Manufacturing Purchasing Managers’ Index (PMI) will be in focus.
Globally, the US and the UK will release manufacturing PMI data from S&P Global. In the eurozone, investors will track manufacturing and services PMI readings, along with the European Central Bank’s consumer inflation expectations. Japan’s consumer price index (CPI) and manufacturing PMI will also be watched for clues about inflation and economic momentum.
Q2 earnings: Infosys, JSW Steel, Dr Reddy’s Labs on radar
Several companies are scheduled to report their quarterly results, keeping stock-specific action in focus.
Among Nifty constituents, investors will track earnings from JSW Steel, Dr Reddy’s Laboratories and Infosys.
Other companies on the earnings watchlist include Mahindra Logistics, Adani Power, IndusInd Bank, UTI AMC, Atul, Coforge, Shree Cement, Tata Motors’ commercial vehicle business, Steel Strips Wheels, CRISIL, CSB Bank, Godrej Properties, Mastek, Jindal Steel, Sterlite Technologies, Westlife Foodworld, Torrent Pharmaceuticals, NESCO, Jupiter Life Line Hospitals, Jana Small Finance Bank, BPCL, Newgen Software, GNA Axles, OFSS, CG Power and Supreme Petrochem.
Investors are also expected to look for details on revenue, profitability, margins and management commentary to assess the companies’ performance and outlook.
Corporate actions: Titan Biotech, Shriram Finance in focus
Investors are also expected to track key corporate announcements and board-related developments.
Titan Biotech has its record date for a 1:4 bonus share issue. A bonus issue involves the distribution of additional shares to eligible shareholders without an additional payment, subject to the company’s approved terms.
Shriram Finance will consider debt issuance plans and a postal ballot notice for fundraising. Meanwhile, Lord’s Mark Industries will consider a Rs 100 crore unsecured loan from its managing director, with an option to convert the loan into equity.
These developments could trigger stock-specific interest as investors assess their potential implications for capital structure and shareholders.
Lock-in expiry: Sona Selection
Shares of Sona Selection will be in focus as a 15% lock-in period ends. The expiry allows the shares covered by the restriction to become eligible for trading, subject to applicable conditions.
However, a lock-in expiry does not automatically mean that shareholders will sell their holdings. Investors will watch trading volumes and price movements to assess the market reaction.
IPO watch: Jio Platforms, Paras Healthcare issues close today
The IPO market will remain in focus as the public issues of Jio Platforms and Paras Healthcare close for subscription on October 23.
Jio Platforms is seeking to raise Rs 30,213 crore through its public issue, while Paras Healthcare aims to raise Rs 1,450 crore. Investor participation and subscription trends will be key indicators of demand for both offerings.