RIL results today, ONGC-HPCL merger approved, Wipro, Kotak Mahindra earnings: Stocks to watch out

By: | Updated: July 20, 2017 9:34 AM

Indian markets are likely to open flat as SGX Nifty futures are trading with no noticeable change on Singapore Stock Exchange. Here are the top stocks which will be in focus ahead of the first quarter earnings. Reliance Industries, Wipro, Kotak Mahindra Bank, Bajaj Auto.

Indian markets are likely to open flat as SGX Nifty futures are trading with no noticeable change on Singapore Stock Exchange.

Here are the top stocks which will be in focus today:

Reliance Industries: Reliance Industries will announce its fiscal first quarter results later today, post market trading hours. The Mukesh Ambani-company recently surpassed the Tata Group cash cow Tata Consultancy Services to become India’s most valuable company, with its market capitalisation topping Rs 5,00,000 crore today — Monday, July 17. The petrochemicals-to-petroleum-to-retail-to-telecom giant Reliance Industries’ shares are on a sustained rise on the prospects of cash flows from its telecom business, which had seen heavy investments so far.

Other stocks which are in focus ahead of the first quarter earnings are Bajaj Auto, Kotak Mahindra Bank, Wipro, ABB, Alembic Pharma, Cupid, DB Corp, Force Motors, Hindustan Zinc, Kansai Nerolac, Mahindra CIE, NIIT Tech, Rallis, RBL Bank, RS Software, Zensar Tech.

ONGC-HPCL merger approved: The government’s plan to build a mega oil PSU of global scale got a shot in the arm yesterday with the Union Cabinet clearing the proposed acquisition of HPCL by ONGC. The sale of the 51.1% stake in state-run refining and marketing company HPCL, held by the government, to oil exploration and production firm ONGC could fetch the government about Rs 29,000 crore at current market prices. However, there was no clarity yet on the price that ONGC will pay for the acquisition. Earlier this month, ET Now had reported that the government is considering asking it to shell out 405-50% premium for HPCL’s equity stake.

Wednesday’s Market: Domestic markets ended higher on Wednesday on the back of earnings optimism with the benchmark Sensex rallying over 240 points to close beyond 31,900 level while the broader Nifty 50 managed to close above 9,900. The 50-share index closed 0.74% higher at 9,899.60, while the 30-share barometer rose 0.77% to 31,955.35. Shares of ITC rose 2.4%, while Aurobindo Pharma closed 4.3% higher.

Shares of Bharti Airtel ended in lead on Sensex, rising as much as 3.21% to Rs 421.35 other top gainers includes Coal India (up 2.66%), ITC (up 2.42%), Dr Reddy’s (up 2.01%), TCS (up 1.88%) and Sun Pharma (up 1.76%) while ITC which dragged the benchmark yesterday remain the top pointwise contributor in driving the Sensex up, contributing as much as 61 points followed by TCS, Reliance, HDFC Bank and Kotak Mahindra Bank.

BSE market capitalisation: Total market valuation of all listed companies on the BSE surged to a record high of over Rs 131 lakh crore today brought about by upbeat sentiment in the broader market.

Rupee movement on Wednesday: The rupee rallied for the third session hits near 6-week high. Advancing its gains for the third straight day, the rupee today rose by 5 paise to end at a near six-week high of 64.28 against the US dollar on steady selling of the American currency by banks and exporters. This is the highest close for the rupee since June 9 when it had settled at 64.24 against the US dollar. Smooth supply of dollars on the back of abundant capital inflows into equities and debts predominantly weighed on trading sentiment.

Asian shares on Thursday: Asian shares scaled a near-decade peak on Thursday, bolstered by a surge in global stocks to new records on strong U.S. corporate earnings, while investors awaited the Japanese and European central bank meetings for insight into their policy outlooks.

Wall Street shares hit a record high on Wednesday: Wall Street stocks jumped to fresh records Wednesday on higher oil prices, better-than- expected housing data and mostly solid earnings reports. All three major US stock indices finished at new records, with the Dow Jones Industrial Average rising 0.3 percent to 21,640.75, edging past a prior record set earlier this month by three points. The S&P 500 gained 0.5 percent to end at 2,473.83, while the tech-rich Nasdaq advanced 0.6 percent to 6,385.04. It was the second straight day of new records for those indexes.

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