Indian markets set for higher open as key stocks including Reliance and NTPC draw attention

Indian equities are projected to start the trading session on Monday, November 2, on a positive note after the GIFT Nifty index rose about 0.9% to around 23,291 points, suggesting a possible gap-up opening for the domestic benchmarks.

The previous session saw the BSE Sensex close up 0.42% at 74,459.53 points and the NSE Nifty gain 0.51% to finish at 23,053.10 points, buoyed by strong buying in information-technology stocks and earnings-driven gains in Tata Group’s retail arm, Trent.

Analysts note that corporate announcements on fresh orders, operational performance and expansion plans could drive stock-specific moves. Companies in focus include Reliance Industries, Jio Platforms, ITC, Marico, NTPC, Central Depository Services (CDSL) and SJVN, among others.

Reliance Industries reported a 41% year-on-year increase in consolidated net profit to ₹25,548 crore for the September quarter. Jio Platforms posted a 14% rise in consolidated net profit, reaching ₹8,389 crore in its first quarterly earnings report since its market debut.

State-run NTPC Green Energy posted a 56.2% year-on-year jump in consolidated net profit to ₹137.5 crore, while NTPC’s standalone net profit grew 14% to ₹5,320 crore. CDSL recorded a 24% increase in net profit to ₹173 crore.

Sun Pharmaceutical Industries saw a 36% decline in consolidated net profit to ₹1,989 crore, and Bharat Electronics Ltd posted a 19.8% rise in standalone profit after tax to ₹1,541 crore, beating market estimates.

Indian Oil Corporation reported its highest quarterly standalone net profit on record at ₹21,630 crore, reversing a loss of ₹2,661 crore in the prior quarter. SJVN’s net profit rose to ₹657.4 crore from ₹308 crore a year earlier.

Nazara Technologies announced a $77 million (approximately ₹734.35 crore) investment in its UK subsidiary.

Investors are advised to consult a financial adviser before making any investment decisions.