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The stock of Reliance Industries will react to its financial numbers, which were announced post market hours on Monday. The numbers beat analysts’ expectations. Analysts were expecting the company, which operates the world’s largest single-location refinery, to report almost muted net profit at ₹5,600-5,530 crore (median estimates) for the quarter. But, the company announced a strong profit of ₹5,972 crore, thanks to high refining margins.
DIC India delisting offer opens today
Shares of DIC India will see high activity on the bourses, as the delisting offer from DIC Asia Pacific Pte (promoter) begins on Tuesday. The offer, which ends on October 20, is aimed at mopping up 25.29 lakh shares (or 28.25 per cent stake) of the company. The floor price is fixed at ₹174 a share but the promoter said it will not pay over ₹260 a share. But, given the current market price of the scrip at ₹600, the outcome of the open offer remains to be seen.
Bajaj group's Q2 numbers in focus
Four Bajaj group companies - Bajaj Auto, Bajaj Corp, Bajaj Finance and Bajaj Finserv - will remain active at the bourses, as the companies are declaring their September quarter results on Tuesday. Bajaj Holding will declare its results on Wednesday. Apart from Bajaj group, other prominent companies that will declare their July-September results include Blue Dart Express and Symphony, whose shares jumped 56 per cent and 245 per cent, respectively, this year.
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