Stocks To Watch: Reliance Industries, Nestle India, HUL, L&T Tech

The domestic stock markets are expected to trade cautiously on Wednesday as investors may opt to book some gains at record levels.

Stocks To Watch: Reliance Industries, Nestle India, HUL, L&T Tech

Trends on SGX Nifty indicated a marginal rise for the domestic markets.

New Delhi: The domestic stock markets are expected to trade cautiously on Wednesday as investors may opt to book some gains at record levels. However, Asian shares advanced and U.S. long-dated bond yields edged up to a five-month high on rising optimism about the global economy and corporate earnings. Trends on SGX Nifty indicated a marginal rise for the markets back home. The Nifty futures were trading at 18,451.50, 14.45 points or 0.08 per cent up, on the Singapore Stock Exchange.

After scaling the 62,000-mark for the first time on Tuesday, the benchmark BSE Sensex had succumbed to selling pressure in fag-end trade to close 49.54 points or 0.08 per cent lower at 61,716.05. The broader NSE Nifty had shed 58.30 points or 0.32 per cent to close at 18,418.75. It had touched a new intra-day record of 18,604.45.

Here Are Stocks To Watch During Today's Session:

Reliance Industries: Reliance Retail Ventures Limited (RRVL) - the retail arm of billionaire Mukesh Ambani's RIL has acquired a majority 52 per cent stake in popular designer labels of Ritu Kumar, in its latest bet on the country's fast-expanding luxury designer market.

Nestle India: The fast-moving consumer goods (FMCG) major has recorded a 15 per cent growth in its net profit for the third quarter of the 2021 financial year, as it stood at Rs 617 crore against Rs 538 crore recorded in the previous quarter. Nestle follows the January-December financial year.

Hindustan Unilever (HUL): The FMCG giant has reported a net profit of Rs 2,187 crore on a standalone basis, registering a growth of 8.86 per cent in the July-September quarter (Q2) from Rs 2,009 crore during the same quarter last year.

L&T Technology Services Limited: L&T Tech - subsidiary of infrastructure conglomerate Larsen and Toubro has reported a profit of Rs 230 crore on a consolidated basis, compared to Rs 165.5 crore in the corresponding period last year, marking a year-on-year growth of 39 per cent.

ICICI Prudential Life Insurance: The company has reported nearly 47 per cent jump in its net profit at Rs 445 crore for the second quarter ended September 30. The company had posted a profit of Rs 303 crore in the corresponding quarter of last year.

Also, aviation stocks will continue to remain in focus as the domestic air passengers' traffic has increased around 80 per cent in September this year, compared to the corresponding month last year, data released by aviation regulator DGCA showed. "In September 2020, 3.9 million passengers boarded flights compared to 7.1 million in 2021 - a surge of 79.23 per cent," Director General of Civil Aviation has said.

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