Nifty futures had been trading flat on Singaporean Exchange, suggesting a cautious commence for BSE Sensex and Nifty 50 on Friday. In the earlier session, the 30-share index hit a record higher of 54,874.10 and Nifty 16,375.50 in intraday. The industry would react to India’s CPI inflation and IIP information which have come far better than anticipated. Investors will also preserve a close watch on very first-quarter earnings, COVID vaccination pace, oil value and rupee movement against US dollar. “Equity markets are expected to continue with its positive momentum as the economic activities are expected to further pick up pace with the lockdown measures getting further relaxed. With earnings season being in the last leg, market would largely be tracking global cues for the direction,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, stated.
Stocks to watch
ONGC, HAL, Burger King: BSE-listed organizations such as Godrej Industries, Grasim Industries, NBCC (India), NHPC, Oil and Natural Gas Corporation, Hindustan Aeronautics Ltd, Indraprastha Gas, Inox Wind, Burger King India, Sun Television Network, Allcargo Logistics, Archies, D B Corp, Gayatri Projects, Glenmark Pharmaceuticals, Gujarat Mineral Development Corporation, GMR Infrastructure, Godfrey Phillips India, Indian Railway Finance Corporation, IL&FS Investment Managers, Inox Wind Energy, Jammu & Kashmir Bank, Jagran Prakashan, Mawana Sugars, Petronet LNG, SEAMEC, Sintex Industries, Suven Pharmaceuticals, and Suzlon Energy, will announce Apr-Jun quater earnings on August 13.
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Eicher Motors: Eicher Motors reported a consolidated profit soon after tax of Rs 237 crore for the quarter ended June, riding on enhanced sales. The business had witnessed a loss of Rs 55 crore in the April-June period of 2020-21.
Ashok Leyland: Ashok Leyland on Thursday reported narrowing of its net loss to Rs 282 crore in the 3 months to June 2021. The Hinduja Group flagship business had posted a net loss of Rs 389 crore in the similar period a year ago.
Aurobindo Pharma: Aurobindo Pharma reported a 1.68 per cent decline in its consolidated net profit to Rs 769.97 crore for the quarter ended on June 30, 2021, primarily on account of reduction in costs.
ITC: ITC stated it is preparing to invest about $2 billion more than the medium term for capacity expansion and setting up new plants across organizations and bringing in modern technologies to upgrade solution excellent.
NMDC: NMDC reported a 499 per cent boost in profit soon after tax (PAT) for the April-June quarter of the existing fiscal at Rs 3,193 crore as against Rs 533 crore in the similar quarter last fiscal, thanks largely to a really low base.
Power Finance Corporation: PFC has reported a net profit of Rs 2,273.6 crore for the quarter ended June 30 on a standalone basis, recording a year-on-year (y-o-y) rise of 33.8% on the back of greater interest earnings and reduce expense of funds.
Bharat Forge: Bharat Forge reported a consolidated net profit of Rs 153.65 crore for the June quarter compared to the loss of Rs 125.81 crore it posted in the June quarter of the earlier fiscal.
Tata Steel: Tata Steel reported robust numbers for the quarter ended June 30 as its net profit soared on the back of a worldwide rally in steel rates and enhanced functionality in the European small business.