Nifty futures have been trading 73.50 points or .45 per cent larger at 16,238.50 on Singaporean Exchange on Wednesday, indicating a gap-up start off for BSE Sensex and Nifty 50. On Tuesday, Nifty 50 scaled 16,000 for the 1st time ever and Sensex hit a fresh lifetime higher of 53,888, on the back of obtaining in FMCG and monetary stocks. Analysts say that the quick term trend of Nifty appears to have turned up sharply. “The much awaited upside breakout of broader high low range at 15960 could signal more upside for the Nifty ahead. The next upside levels to be watched around 16300-16500 in the next 6-8 sessions. Important support is placed at 15960-16000 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, mentioned.
Stocks to watch
Devyani, Windlas, Exxaro, Krsnaa Diagnostics IPOs: Four IPOs — Devyani International, Windlas Biotech, Exxaro Tiles and Krsnaa Diagnostics– worth more than Rs 3,600 crore will open for subscription on August 4 and close on August 6.
SBI, HPCL: BSE-listed businesses such as State Bank Of India, Hindustan Petroleum Corporation, Titan Company, Adani Green Energy, Godrej Consumer Products, Apollo Tyres, Adani Total Gas, Bosch, Chambal Fertilisers & Chemicals, Cholamandalam Financial Holdings, Cosmo Films, Gabriel India, Greenply Industries, H.G. Infra Engineering, Mayur Uniquoters, Nava Bharat Ventures, PNB Housing Finance, Solara Active Pharma Sciences, Sonata Software, Subros, Tasty Bite Eatables, Tata Communications and Thomas Cook (India) to announce benefits on August 4.
Bharti Airtel: Bharti Airtel on Tuesday saw its consolidated net profit declining 62.6 per cent on a sequential basis at Rs 284 crore, missing analyst estimates, primarily due to larger finance price. The organization had also booked an exceptional achieve of Rs 440 crore for the duration of the preceding quarter. Airtel’s total income surged 15.3 per cent year-on-year to Rs 26,854 crore for the duration of the 1st quarter ended June 30, according to a organization statement.
TCS: Tata Consultancy Services has been enlisted by Rich Productsto drive its finish-to-finish provide chain transformation, enhancing integrated organizing and agility, and assisting it meet altering consumer demands. Rich’s provide chain supports the manufacturing of diverse meals goods, from cakes and icings to pizza, appetizers, and specialty toppings
Dabur India: Dabur India on Tuesday reported a 28.42 per cent raise in consolidated net profit to Rs 438.30 crore for the quarter ended in June 2021 on larger domestic sales. The organization had posted a net profit of Rs 341.30 crore in the April-June quarter a year ago.
Indian Overseas Bank: Chennai-based public sector lender Indian Overseas Bank (IOB) on Tuesday reported a 170 per cent jump in its net profit to Rs 327 crore for the 1st quarter of this fiscal as compared to Rs 121 crore in the corresponding quarter last fiscal.
Adani Enterprises Ltd: Adani Enterprises posted net profit at Rs 265.60 crore against loss of Rs 65.67 crore and income was at Rs 12,578.77 crore against Rs 5,265.19 crore, on a year-on-year basis.