Shares of DLF will remain in focus on Wednesday, as the Securities Appellate Tribunal will hear its appeal against the SEBI order. In a major blow to DLF, SEBI last week had barred the company and six of its directors from raising funds from the market for three years for “active and deliberate suppression” of material information at the time of its IPO seven years ago. This was one of the rare orders by SEBI barring a blue-chip firm and its promoters from the markets.
Wipro Q2 results on Wednesday
Wipro, which is scheduled to announce its second quarter financial results on Wednesday, will remain in focus, as analysts expect its revenue to grow (in rupee terms) by about 3 per cent sequentially. In dollar terms, analysts expect Wipro to report a 2.5 per cent growth for the quarter ended September. Additionally, analysts will be keenly watching the operating profit margins, which may decline sharply due to the impact of the wage hike.
Weak numbers may drill down Cairn India
Shares of Cairn India may react to its July-September quarter numbers, which were announced after market hours on Tuesday. The company posted a net profit of ₹1,165.01 crore for the quarter, down 48 per cent over the comparable period last year, on the back of lower oil prices and production from its prime Rajasthan oilfield. Income decreased about 13 per cent to ₹2,129 crore (₹2,451.85 crore), belying analysts' expectations of a better show.