Benchmark indices have ended in the adverse territory for the last couple of trading sessions. So far this week, Sensex and Nifty have slipped practically 1% each and every even though the volatility index, India VIX, has dropped 5%. “Nifty continued to show choppy movement with negative bias and still there is no evidence of any upside bounce emerging from the lows,” mentioned Nagaraj Shetti, Technical Research Analyst, HDFC Securities. As main triggers look to be missing, stock-precise action has been advised by analysts. SGX Nifty hints at a flat commence to Friday’s trading session.
Bank stocks: With the Reserve Bank of India (RBI) saying that non-performing assets (NPA) are set to rise, bank stocks could see some action today. The central bank has, on the other hand, mentioned that domestic lenders are properly capitlised to tide more than any tension emerging.
Bharti Airtel: Sunil Mittal, Chairman of Bharti Group on Thursday mentioned that the telecom sector is beneath tremendous tension and in urgent will need for rising telecom tariffs. Sunil Mittal also mentioned that telecom tariffs will need to go up and Bharti would not hesitate in raising them but added it can not do so unilaterally.
Hero Motocorp: The two-wheeler manufacturer on Thursday mentioned that it sold more than 4.6 lakh motorcycles and scooters in June. The business additional added that it has sold more than 10 lakh units in the 1st quarter of the existing fiscal year.
TVS Motors: In the month of June, TVS Motor mentioned its sales grew by 27%. Total units sold by the business stood at 2.51 lakh units, up from 1.98 lakh units in the similar period last year. The company’s total exports registered sales of 1.06 lakh units in the month of June 2021 as against sales of 53,123 units in June 2020.
Dr Reddy’s: On Friday morning, the pharma business informed the bourses that the Subject Expert Committee has encouraged Dr Reddy’s to submit security, immunogenicity and efficacy information from the phase III clinical trial of Sputnik Light in Russia to the SEC for its consideration of Marketing Authorisation of Sputnik Light in India.
Cadila Healthcare: The business has announced that it has applied for Emergency Use Authorization (EUA) to the workplace of Drug Controller General of India for ZyCoV-D – its Plasmid DNA Vaccine against COVID-19. The Company plans to manufacture 10-12 crore doses annually.
Dixon Technologies: Dixon Technologies is amongst the 14 firms that have received approval beneath the Production Linked Incentive Scheme (PLI) for IT hardware from the government. Other businesses involve Dell, ICT (Wistron), Flextronics and Rising Stars Hi-Tech (Foxconn). Over the next 4 years, these businesses are anticipated to fuel a total production of more than Rs 1.61 lakh crore, and create direct employment possibilities for more than 36,000 people today.