Nifty futures had been trading 55 points.50 points or .35 per cent down at 15,858.50 on Singaporean Exchange on Tuesday, indicating a damaging start off for BSE Sensex and Nifty 50. Market participants will watch Q1 final results, upcoming IPOs, foreign fund flows, covid vaccination pace, oil rates, rupee movement and other worldwide cues. Following the gains made in the prior session, analysts say that bulls look to have come back, immediately after a lackluster variety movement of last couple of 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,” mentioned Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to watch
Nykaa: Cosmetics retailer Nykaa has file IPO papers with capital marketplace regulator SEBI to launch an IPO. The concern comprises a fresh concern of shares worth Rs 525 crore and provide-for-sale (OFS) of up to 4.31 crore shares.
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Adani Wilmar: FMCG firm Adani Wilmar, which tends to make edible oil brand ‘Fortune’, has filed draft red herring prospectus (DRHP) with marketplace regulator Sebi to launch Rs 4,500-crore IPO.
Bharti Airtel, Dabur: BSE-listed organizations 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 provided to give up his stake in the firm to any public sector, government or domestic economic entity which can hold the firm as a going concern. Birla made the provide to the government by means of a letter on June 7 in which he also listed the locations exactly where the Centre’s help was required by the finish of July.
Reliance Industries Ltd: Billionaire Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries Ltd slipped 59 areas 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 due to the fact 2017.
PNB: Punjab National Bank reported more than 3-fold jump in its standalone net profit to Rs 1,023.46 crore for the 1st quarter ended June 30, primarily due to fall in operating expenditures and fantastic recovery. The bank had posted a net profit of Rs 308.45 crore in the exact 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 much less from sale of investments. The net interest earnings (NII) for Q1FY22 stood at Rs 4,147 crore, 22% larger than Rs 3,392 crore in the prior year.
IDBI Bank: IDBI Bank has invited bids from non-banking finance organizations, asset reconstruction organizations (ARC), banks and economic institutions to sell non-performing assets (NPAs) of Sew Infrastructure by August 20. The firm owes Rs 80.53 crore to IDBI Bank and the reserve value for the NPAs has been set at Rs 25 crore by the lender.