Key results to watch out for on Friday
BSE Sensex opened higher by 153 points at 29575, while the Nifty50 opened higher by 43 points at the 9179 mark in Friday’s trading session. Sensex has closed higher for the third consecutive trading session on Thursday. HDFC twins were the biggest contributors to the Sensex gains.
On Friday, Reliance and HDFC Bank are pushing up the Sensex. Following are the important quarterly results to watch out for on Friday that may drive the market either upwards or downwards:
HDFC Bank: The market is expecting positive Q4 results for HDFC Bank. According to market experts, the Q4 result may witness around 15% growth in net profit and operating profit before provisions and contingencies with stable asset quality. The stock has witnessed good upward movement in the past five trading sessions.
ACC: The cement company is set to consider its unaudited financial statements for the first quarter ended on March 31, 2017. As per the market experts, the company may witness higher sales for the quarter as demonetisation impact culminates. The updates on merger synergies with Ambuja Cements would also be in focus in the company’s board meeting.
The ACC Limited stock is trading lower by 0.5% at Rs 1504.5 per share whereas HDFC Bank is trading higher by 0.2% at Rs 1465 per share on BSE as of 0929 hours in Friday’s trading session.