Q3 Nifty results preview: In total, Motilal Oswal expects 17 Nifty companies including HDFC Bank and Larsen & Toubro to report a PAT growth of above 30 per cent YoY. It sees 10 Nifty companies to report a YoY drop in PAT.
Shares of textiles manufacturer Alok Industries rallied almost 16 percent in trade on Friday, spiking for the 3rd time this week, after Reliance Industries invested ₹3,300 crore in the company.
RIL share price: The stock has been out of limelight for over two years, as it digested strong rally during 2020-21. It is now poised to conclude this consolidation and expected to lead Nifty in 2024.
Reliance Industries shares are 14.67% below their peak. HDFC Bank is down 7.61%, Infosys by 25.55%, and Kotak Mahindra Bank recovered 4.16% in December so far but remains down 19.35% from its peak.