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Global markets take support, Will IT power Nifty to 16000? Pre-market Report, 15 July 2021

Good Morning Everyone, It is a very exciting day for all of us as we officially launch our MPI Invest today! Note the date, 15th July 2021. I am sure we will grow up to be one of the most sought-after investment communities in the world over a period of time.

Yesterday, the Nifty took a strong bullish turn, supported by the IT, and we could see Infosys coming in with good results yesterday as mentioned in our post-market report yesterday. If you missed reading that, you can read it by clicking here.

Global markets:

Global markets closed flat yesterday but the jitters of rising inflation in the US and hence the rate hikes have been brushed off by Powell, stating that Inflation will be back in control soon and the FED plans to keep the "easy policy" and keeping the rates low for now. This gave confidence back to investors and we could see S&P jumping to record intraday highs again.

The Dow Jones Industrial Average rose 0.13%, the S&P 500 added 0.12% and the Nasdaq Composite slipped 0.22%.

MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade while Japan’s Nikkei dropped 0.4%.

Indian Market:

The trends on SGX nifty signal a very small gap-up opening by about 10 points from yesterday's closing. However, we need to wait and see the reaction of Infosys results on the market today. Also, we have Wipro coming out with their results today. There can be profit booking seen mostly in Wipro as it has been rising up all these days.

Today being the weekly expiry, we can expect some good volatility and as FIIs continue to sell in the market, we might see some profit booking as we near 15900, so, it may not be the right time to go for any new buying unless you want to risk it, however, you can consider booking partial profits when the market reaches close to 15900.

The market capitalisation of BSE-listed companies reached an all-time high of Rs 2,33,06,440.17 crore on Wednesday, mainly driven by optimistic sentiments in the broader market. At the close of trade, the BSE Sensex jumped 134.32 points or 0.25 percent to 52,904.05, registering its second straight session of gains.

The market capitalisation of BSE-listed companies reached the new record high of Rs 2,33,06,440.17 crore at the end of the day’s trade. Investors’ wealth has jumped Rs 1,42,806.24 crore in the two days of the market rally.

Results Today

Wipro, Angel Broking, Avantel, Aditya Birla Money, Cyient, Ganesh Housing Corporation, Larsen & Toubro Infotech, Onward Technologies, Rama Paper Mills, Rollatainers, Tata Elxsi, and Tata Steel Long Products will release quarterly earnings on July 15.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,303.95 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,335.91 crore in the Indian equity market on July 14

Stock Specific News:

Infosys | The company’s Q1FY22 net profit rose 2.3 percent to Rs 5,195 crore from Rs 5,076 crore, while revenue increased 6 percent to Rs 27,896 crore from Rs 26,311 crore, QoQ.

Tata Consultancy Services | The IT major has announced plans to expand its operations in Arizona in the US and invest more than $300 million (about Rs 2,236 crore) by 2026.

L&T Technology Services | The company’s Q1FY22 net profit rose 11.1 percent to Rs 216.2 crore from Rs 194.5 crore and revenue rose 5.4 percent to Rs 1,518.4 crore from Rs 1,440.5 crore, QoQ.

ICICI Bank | The bank said that the value of its credit card transactions at POS for May 2021 was Rs 951,746 lakhs and not Rs 1,223,298 lakhs as published by RBI. The bank’s credit card transactions at POS grew by about 124 percent year-on-year by value in May 2021.

Axis Bank | The bank has denied a social media report of the resignation of its two senior executive directors saying it was factually incorrect.

Marico | The company will acquire a 60 percent stake in Apcos Naturals, the maker of ayurvedic beauty brands Just Herbs.

Tata Motors | The company has launched a new brand named ‘XPRES’ exclusively for the fleet customers.

Adani Enterprises | The company’s subsidiary Adani Airport Holdings Ltd will hold nearly 98 percent stake in GVK Airport Developers Ltd pursuant to the rights exercised by it as a lender to the company.

Adani Transmission | The company has received shareholders’ nod to raise up to Rs 2,500 crore in one or more tranches through the issuance of equity shares, securities and debentures.

Dodla Dairy | The company reported a net profit of Rs 9.59 crore in Q4FY21 as against a loss of Rs 1.94 crore, YoY. Revenue rose to Rs 530.5 crore from Rs 527.45 crore, YoY.

Cadila Healthcare | The company has completed the sale and disposal of its subsidiary Zydus Animal Health and Investments Ltd to Zenex Animal Health India Pvt Ltd.

5paisa Capital | The company reported a higher consolidated profit at Rs 7.19 crore in Q1FY22 against Rs 2.8 crore in Q1FY21. Revenue rose to Rs 60.08 crore from Rs 42.33 crore YoY.

Vikas Lifecare | The company acquired a 22.04 percent stake in Advik Laboratories.

Tinplate Company of India | The company reported profit at Rs 68.62 crore in Q1FY22 against a loss of Rs 6.9 crore in Q1FY21. Revenue jumped to Rs 866.3 crore from Rs 379.76 crore YoY.

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