Nifty futures had been trading 99.50 points or .63 per cent decrease at 15,753 on Singaporean Exchange, suggesting a gap-down opening for BSE Sensex and Nifty 50 on Monday. Analysts count on higher volatility this week amid the scheduled derivatives expiry of July month contracts. In the prior week, the 30-share Sensex fell 164.26 points or .30 per cent. Markets will 1st react to the final results of index heavyweights such as Reliance Industries Ltd (RIL), ICICI Bank and ITC in early trade on Monday. “The short term trend would remain positive till Nifty is holding above the support zone of 15,450, however, the recent surge in volatility warrants extra caution in the selection of stocks and trade management. We advise limiting leveraged positions and waiting for further clarity,” Ajit Mishra, VP Research. Religare Broking stated.
Stocks to watch
RIL: Mukesh Ambani-led Reliance Industries Ltd (RIL) reported Apr-Jun quarter FY22 net profit at Rs 12,273 crore, a fall of 7.25 per cent on-year. In the corresponding quarter of the prior fiscal, net profit stood at Rs 13,233 crore.
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HDFC Bank: HDFC Bank’s Aditya Puri emerged as the highest grossing banker amongst the best 3 private sector lenders in his retirement year with total emoluments of Rs 13.82 crore.
ICICI Bank: Private lender ICICI Bank on Saturday reported a 78 per cent on-year (y-o-y) jump in its net profit to Rs 4,616 crore throughout the June quarter (Q1FY22). The bank was capable to report a powerful bottomline primarily on account of robust net interest earnings (NII) and decrease provisioning.
ITC: Mostly in line with analysts’ estimates, diversified conglomerate ITC reported a healthier 28.63 per cent on-year rise in its standalone net profit to Rs 3,013.49 crore for the 1st quarter ended June 30, as its gross income from sales rose 36.55 per cent on-year.
IndusInd Bank: IndusInd Bank stated it is arranging to raise up to Rs 30,000 crore by means of a mix of equity and debt to fund its small business development.
Kotak Mahindra Bank: Axis Bank: BSE-listed firms Larsen & Toubro, Axis Bank, Kotak Mahindra Bank, Tata Motors, SBI Life Insurance, Vedanta, DLF, GlaxoSmithKline Pharmaceuticals, Coromandel International, Navin Fluorin, and Alembic Pharmaceuticals are amongst the organization that are scheduled to announce their April-June quarterly earnings on 26 July.
IOCL: Indian Oil Corporation stated that it will make the nation’s 1st ‘green hydrogen’ plant at its Mathura refinery. Solar and wind plants can generate green hydrogen with the aid of electrolysers, and the organization intends to wheel electrical energy from its wind energy project in Rajasthan to produce hydrogen in Mathura refinery.
JSW Steel: JSW Steel beat analyst estimates on all fronts and reported its highest-ever consolidated quarterly net profit of Rs 5,900 crore for the quarter ended June.
Yes Bank: Yes Bank on Friday reported an more than 4-fold jump in net profit at Rs 207 crore for the quarter ended June 2021. The bank stated this was its highest net profit due to the fact December 2018.