Corporate earnings, budget expectations to drive equities this week: Analysts Airtel partners with Bharti AXA to offer prepaid with life insurance
NEW DELHI: Equity market progress this week will broadly hinge on ongoing quarterly corporate results and expectations being built around the upcoming Union Budget, according to analysts.
Investors in domestic market will closely watch quarterly earnings from companies such as Kotak Mahindra Bank, Bank of Maharashtra, Axis Bank, Canara Bank and Bank of Baroda this week.
The BSE gauge Sensex logged a hefty 345.65 points or 0.83 per cent gains in the previous week. The recent rally has been enthused by a host of factors, mostly global, like cooling of Us-iran tensions and signing of an initial trade deal between Washington and Beijing to defuse their 18-month trade tussle.
The Indian market is now looking beyond global factors to focus on earnings announcements and upcoming budget, as both are expected to underpin the sentiment.
"Going ahead, investors should remain cautious as markets are at all-time high and should expect stock-specific action as Q3 earnings season progresses. Also expectations to the run up to the budget are expected to drive certain sectors related to agri, rural, fertilisers, PSUS, infra and construction. This week key results to watch out for would be ICICI Bank,
JSW Steel, Zee, Havells, HDFC AMC," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said.
Market will also be guided by other key factors like Brent crude movement, rupee-dollar trend and foreign investment flows.
"...Overall expectation is that Q3 is likely to provide a strong push to earnings growth trajectory for FY20 and 21. Further, market is expecting strong measures from the government from budget," Vinod Nair, Head of Research, Geojit Financial Services said.
On Monday, all eyes will be tracking the movement in TCS shares, as the IT major after market hours on Friday reported a muted 0.2 per cent growth in consolidated net profit at Rs 8,118 crore for the third quarter.
NEW DELHI: Bharti Airtel on Sunday announced its partnership with Bharti AXA Life Insurance to introduce its most affordable prepaid bundle with built in life insurance cover of Rs 2 lakh.
Airtel's new prepaid bundle at Rs 179 offers unlimited calling to any network, 2 GB data, 300 SMS along with a term life cover of Rs 2 lakh from Bharti AXA Life Insurance. The pack has a validity of 28 days.
The new prepaid bundle sets a new benchmark in making a basic insurance cover even more accessible and affordable by coupling it with world-class telecom services.
It is designed to serve entry
level smart phone users and feature phone users in semi-urban and rural markets. The bundle will give these customers a simple and highly convenient channel to secure themselves and their families financially every time they recharge their Airtel mobile numbers.
"The new recharge plan will offer one of the simplest and most accessible platforms to hundreds of millions of Indians to financially secure themselves and their families while staying connected on Airtel's worldclass network," said Shashwat Sharma, Chief Marketing Officer, Bharti Airtel.
Vikas Seth, Managing Director and CEO, Bharti AXA Life Insurance, said: "We are pleased to partner with Bharti Airtel and offer protection cover to its customers. As a responsible life insurer, we always look to provide new layers of convenience and protection to the customers.
"Our partnership ensures
life insurance cover to every customer with each recharge and helps them leverage its benefits. We are confident that the alliance will also strengthen insurance penetration in the country."