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It will likely be a volatile session on the bourses on Wednesday as the monthly F&O expiry for January derivatives contracts will keep investors occupied.
As per rollover data, the Nifty index has, so far, witnessed rollover in-line with the last three months’ averages. However, slight declines in roll cost indicates a capped upside.
That apart, Q3 earnings will lead to stock-specific action today. Over 70 companies are slated to report their December quarter results today, including prominent ones like Bajaj Auto, Cipla, Dr Reddy’s Labs, DLF, and Tata Motors.
Analysts expect Tata Motors to see improved financial performance, at the consolidated level, during Q3FY23 on volume recovery and product mix improvement. Nuvama Institutional Equities, for instance, pegs TaMo’s consolidated revenue at Rs 83,848 crore, up 16 per cent year-on-year. READ PREVIEW HERE
Bajaj Auto, meanwhile, is likely to report up to 2 per cent YoY drop in revenue growth to Rs 8,873 crore in the December quarter, due to weaker domestic and export volumes, said analysts. READ PREVIEW HERE
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