Good Morning Everyone, The week went by so fast that we are already on the last trading day of the week & looking forward to yet another exciting weekend meeting tomorrow. Now coming to the markets today, Nifty was up yesterday with support from the global markets.
US markets again closed higher yesterday in spite of rising jobless claims in the US & rising delta variant corona. All probably because of the great quarterly results announced by major companies like Twitter which actually came up with a great profit in their quarterly results.
The number of Americans seeking unemployment benefits rose last week from the lowest point of the pandemic, even as the job market appears to be rebounding on the strength of a reopened economy.
The Labor Department said Thursday that jobless claims increased last week to 419,000 from 368,000 the previous week. The weekly number of first-time applications for benefits, which generally tracks layoffs, has fallen steadily since topping 900,000 in early January.
The Dow Jones Industrial Average rose 25.35 points, or 0.07%, to close at 34,823.35, the S&P 500 gained 8.79 points, or 0.20%, to end the day at 4,367.48 and the Nasdaq Composite added 52.64 points, or 0.36%, to close at 14,684.60.
The European Central Bank on Thursday said interest rates would stay at their current record low levels until it sees inflation "durably" reaching the bank's new target of two percent, which could be good news for European markets too.
Shares in Asia-Pacific were lower in Friday morning trade as investors monitor Chinese tech stocks in Hong Kong after regulatory concerns resurfaced. South Korea’s Kospi sat below the flatline in early trade. In Australia, the S&P/ASX 200 shed 0.18%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.07% lower.
Trends on the SGX nifty indicate a positive opening in the Nifty today by a small gap-up of about 20-30 points from yesterday's close. The market can be cautious today as Big brother Reliance will announce its quarterly results today. Analysts have however predicted good results for Reliance, however, let's be watchful of the markets today.
Retail investors' interest in the Indian securities market has sharply increased to an average of 2.45 million Demat accounts opened per month during April-June, Sebi chief Ajay Tyagi said on Thursday. The prevailing low-interest rates and ample liquidity availability are the major factors for the increased investors' interest in the securities market in India, he added.
Zomato, one of the leading food services platforms in India in terms of value of food sold, will list on the bourses on July 23. Experts suggest the stock could list at a price of more than Rs 100 per share, i.e. more than 30 per cent premium over the final offer price of Rs 76.
Reliance Industries, Ambuja Cements, JSW Steel, Federal Bank, United Spirits, Yes Bank, Artson Engineering, Atul, Aurionpro Solutions, Cigniti Technologies, Crompton Greaves Consumer Electricals, Dynamatic Technologies, Fineotex Chemical, Majesco, Nectar Lifesciences, Panacea Biotec, ABB Power Products and Systems India, SBI Cards and Payment Services, Seshasayee Paper & Boards, SKF India and Symphony.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 247.59 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 942.55 crore in the Indian equity market on July 22
Stock Specific News:
Zomato | The company will list its shares on exchanges today after its initial public offering (IPO) received a robust 38.25 times subscription.
Telecom Stocks | Supreme Court bench is likely to pronounce judgment today on Bharti Airtel and Vodafone Idea’s plea seeking adjustment of AGR demand after accounting for “arithmetic errors”.
Reliance Industries | The energy-to-digital-to-retail conglomerate will report its earnings for the quarter ended June 2021 today. On a consolidated basis, analysts expect revenue growth of 3.3 percent at Rs 1.54 lakh crore. EBITDA is expected to be flat at Rs 23,300 crore, while margins are expected to be at 15.1 percent and the profits are expected to fall by nearly 18 percent, sequentially.
Wipro | The company launched FieldX, a cloud-based end-to-end digital service lifecycle automation solution built on ServiceNow’s Now Platform.
Hero MotoCorp | The company launched an updated version of its Maestro Edge 125 scooter model with prices starting from Rs 72,250.
Mphasis | The company’s Q1FY22 net profit rose 7.2 per cent to Rs 339.7 crore from Rs 316.9 crore, while revenue increased 6.6 per cent to Rs 2,690.8 crore from Rs 2,524.2 crore, QoQ.
Tata Power | The company has signed a share purchase agreement (SPA) with Tata Power International Pte., a wholly-owned subsidiary of the company, for the sale of 100 per cent equity shares held in Trust Energy Resources Pte, another wholly-owned subsidiary of the company for a consideration of USD 285.64 million.
Mahindra Lifespace Developers | The company’s board will consider the proposal for the issuance of bonus equity shares, subject to requisite approvals.
Persistent Systems | The company’s Q1FY22 net profit rose to Rs 151.2 crore from Rs 137.7 crore, while revenue increased to Rs 1,229.9 crore from Rs 1,113.3 crore, QoQ.
PSP Projects | The company has secured new work orders worth Rs 82.79 crore to date in the financial year 2021-22 for institutional and industrial projects from various clients.
ICICI Lombard General Insurance | The company reported a 61.91 percent YoY drop in net profit at Rs 151.63 crore for Q1FY22. Total income rose to Rs 3,246.90 crore from Rs 2,729.67 crore, YoY.
South Indian Bank | The bank’s Q1 net profit fell 87.4 percent to Rs 10.3 crore from Rs 81.7 crore and NII declined 7.6 percent to Rs 542 crore from Rs 586.9 crore, YoY.
Indiamart Intermesh | The company’s Q1FY22 consolidated net profit rose 18.6 percent to Rs 87.9 crore from Rs 74.1 crore and revenue increased 18.6 percent to Rs 181.6 crore from Rs 153.1 crore, YoY.
India Energy Exchange | The company’s Q1FY22 consolidated net profit rose 49.2 percent to Rs 62.8 crore from Rs 42.1 crore, while revenue increased 34.1 percent to Rs 91 crore from Rs 67.9 crore, YoY.
Can Fin Homes | The company report a nearly 17 per cent rise in Q1FY22 net profit to Rs 108.85 crore from Rs 93.15 crore, YoY.
Tanla Platforms | The company posted a 32.9 percent jump in its Q1FY22 consolidated net profit at Rs 104.5 crore versus Rs 78.6 crore and revenue was up 37.5 per cent at Rs 626.4 crore against Rs 455.5 crore, YoY.