Nifty futures were trading 73.50 points or 0.45 per cent higher at 16,238.50 on Singaporean Exchange on Wednesday, indicating a gap-up start for BSE Sensex and Nifty 50
Nifty futures were trading 73.50 points or 0.45 per cent higher at 16,238.50 on Singaporean Exchange on Wednesday, indicating a gap-up start for BSE Sensex and Nifty 50. On Tuesday, Nifty 50 scaled 16,000 for the first time ever and Sensex hit a fresh lifetime high of 53,888, on the back of buying in FMCG and financial stocks. Analysts say that the short term trend of Nifty seems 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, said.
Stocks to watch
Devyani, Windlas, Exxaro, Krsnaa Diagnostics IPOs: Four IPOs — Devyani International, Windlas Biotech, Exxaro Tiles and Krsnaa Diagnostics– worth over Rs 3,600 crore will open for subscription on August 4 and close on August 6.
- Sansera Engineering stock lists at 9% premium to IPO price; shares price crosses Rs 800 on D-St debut
- Airtel, Voda-Idea, RIL, Dish TV, Yes Bank, BPCL, SBI Cards, Jubilant Foodworks, Adani stocks in focus
- Share Market LIVE: Sensex hits 60000, rallies 300 pts on strong global cues; Nifty tops 17900, at record high
SBI, HPCL: BSE-listed companies 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 results 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, mainly due to higher finance cost. The company had also booked an exceptional gain of Rs 440 crore during the preceding quarter. Airtel’s total revenue surged 15.3 per cent year-on-year to Rs 26,854 crore during the first quarter ended June 30, according to a company statement.
TCS: Tata Consultancy Services has been enlisted by Rich Productsto drive its end-to-end supply chain transformation, enhancing integrated planning and agility, and helping it meet changing customer demands. Rich’s supply chain supports the manufacturing of diverse food products, from cakes and icings to pizza, appetizers, and specialty toppings
Dabur India: Dabur India on Tuesday reported a 28.42 per cent increase in consolidated net profit to Rs 438.30 crore for the quarter ended in June 2021 on higher domestic sales. The company 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 first 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 revenue was at Rs 12,578.77 crore against Rs 5,265.19 crore, on a year-on-year basis.