Nifty futures were trading 55 points.50 points or 0.35 per cent down at 15,858.50 on Singaporean Exchange on Tuesday, indicating a negative start for BSE Sensex and Nifty 50. Market participants will watch Q1 results, upcoming IPOs, foreign fund flows, covid vaccination pace, oil prices, rupee movement and other global cues. Following the gains made in the previous session, analysts say that bulls seem to have come back, after a lackluster type movement of last few sessions. “A sustainable move above the initial hurdle of 15880 levels is expected to pull the Nifty towards the next crucial area of 15960-16000 and higher in the short term. Immediate support is placed at 15830 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to watch
Nykaa: Cosmetics retailer Nykaa has file IPO papers with capital market regulator SEBI to launch an IPO. The issue comprises a fresh issue of shares worth Rs 525 crore and offer-for-sale (OFS) of up to 4.31 crore shares.
HDFC, PNB, Maruti Suzuki, Indian Oil, Tata Motors, Britannia, Tejas Networks stocks in focus
Bharti Airtel, Tech Mahindra, Reliance Industries, Federal Bank, Sun Pharma stocks in focus today
Tatva Chintan, Glenmark Life Sciences IPO, Tech Mahindra, LIC Housing, IDBI Bank stocks in focus
Adani Wilmar: FMCG company Adani Wilmar, which makes edible oil brand ‘Fortune’, has filed draft red herring prospectus (DRHP) with market regulator Sebi to launch Rs 4,500-crore IPO.
Bharti Airtel, Dabur: BSE-listed companies such as Bharti Airtel, Adani Enterprises, Adani Ports and Special Economic Zone, Bajaj Healthcare, Bank of India, Barbeque-Nation Hospitality, CARE Ratings, Dabur India, Dhampur Sugar Mills, Prataap Snacks, ELGI Equipments, Everest Industries, Godrej Properties, IIFL Wealth Management, Inox Leisure, Indian Overseas Bank, Kajaria Ceramics, Kalpataru Power Transmission, Munjal Showa, Neuland Laboratories, NOCIL, Shipping Corporation of India, Simplex Realty, Tata Consumer Products, Transport Corporation of India, and TRF will announce their April-June quarter earnings on August 3.
Vodafone-Idea: Kumar Mangalam Birla, the chairman of financially troubled Vodafone Idea (VIL), has offered to give up his stake in the company to any public sector, government or domestic financial entity which can keep the company as a going concern. Birla made the offer to the government through a letter on June 7 in which he also listed the areas where the Centre’s support was needed by the end of July.
Reliance Industries Ltd: Billionaire Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries Ltd slipped 59 places to rank 155th on the 2021 Fortune Global 500 list released on Monday. Reliance took a beating on the rankings as revenues dropped owing to the COVID-19 pandemic. This is its lowest ranking since 2017.
PNB: Punjab National Bank reported over three-fold jump in its standalone net profit to Rs 1,023.46 crore for the first quarter ended June 30, mainly due to fall in operating expenses and good recovery. The bank had posted a net profit of Rs 308.45 crore in the same quarter last year.
HDFC: Housing Development Finance Corporation reported a 2% year-on-year drop in its net profit for the June quarter to Rs 3,000.67 crore as it earned less from sale of investments. The net interest income (NII) for Q1FY22 stood at Rs 4,147 crore, 22% higher than Rs 3,392 crore in the previous year.
IDBI Bank: IDBI Bank has invited bids from non-banking finance companies, asset reconstruction companies (ARC), banks and financial institutions to sell non-performing assets (NPAs) of Sew Infrastructure by August 20. The company owes Rs 80.53 crore to IDBI Bank and the reserve price for the NPAs has been set at Rs 25 crore by the lender.