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Nestle India's shares climbed 1% to Rs 2,530 during Thursday's intraday trading on the BSE in anticipation of the company's fourth-quarter results, scheduled for later in the day. Analysts predict a 17% increase in net profit to Rs 867 crore for the quarter ending March 31, 2024, based on the average estimates of three brokerages.
44 companies, including Nifty50 components like Bajaj Finance, Nestle, and Tech Mahindra, will reveal their earnings. Bajaj Finance may see a 22% rise in net profit, while Nestle expects a 17% profit jump, and Tech Mahindra anticipates a challenging quarter ahead.
On the options front, the maximum Call OI is placed at 22500 and then towards 22700 strikes while the maximum Put OI is placed at 22000 and then towards 22300 strikes.
Among sectoral indices, BSE Metal surged 2.8 percent, followed by BSE Commodities and Healthcare that were up 1.6 percent and 1 percent, respectively. On the downside, the BSE Telecommunication index lost 1.6 percent, followed by BSE IT and BSE Teck indices, each down 1 percent.
Today marks a significant day for investors and market participants as several key companies from various sectors are set to announce their fourth-quarter results. Among the notable earnings releases, Hindustan Unilever (HUL), LTIMindtree, Indian Hotels, Axis Bank, Macrotech, and Tata Investment stand out.