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  1. Stocks of Lupin, Maruti Suzuki will be in focus today; all eyes on RBI bi-monthly policy

Stocks of Lupin, Maruti Suzuki will be in focus today; all eyes on RBI bi-monthly policy

The domestic markets are likely to open higher on Thursday ahead of the optimism of a rate cut by the central bank RBI is expected. The Reserve Bank of India will conclude its two-day bi-monthly policy meeting today.

By: | Published: August 2, 2017 9:11 AM
The early indicator of the NSE Nifty 50, SGX Nifty was little changed, down 0.14% at 10,143 points.

The domestic markets are likely to open higher on Thursday ahead of the optimism of a rate cut by the central bank RBI is expected. The Reserve Bank of India will conclude its two-day bi-monthly policy meeting today. The early indicator of the NSE Nifty 50, SGX Nifty was little changed, down 0.14% at 10,143 points.

Shares of about 42 companies will be in watch today ahead of their first quarter earnings.

Bata India, Capital First, Dai-Ichi Karkar, Divyashakti, Edelweiss, Eimco Elecon, Emami, Ent Network Ind, Garware, Marine, GKW, Greenply Industries, Hawkins Cooker, HEG, Igarashi Motors, Ingersoll Rand (India), JD Orgochem, Kaya, Lakshmi Electrical Control System, Lupin, M3 Global Finance, Magma Fincorp, Mahindra Holidays and Resorts India, Medicamen Biotech, Metkore Alloys, Narayana Hruda, Ponni Sugars(E), Reliance Infrastructure, Sagarsoft, Shivalik Rasa, Sical Logistics, Total Exports, Transport Corp, Tribhovandas Bhimji Zaveri, UCO Bank, Voltas, VST Industries, VTM, Wockhardt.

Following stocks will be in focus today after major announcements and April-june earnings release:

State-run Power Grid Corporation of India yesterday posted 13.9 per cent rise in standalone profit at Rs 2,052.4 crore for the quarter ended June 30 on the back of higher revenue from operations. The company had posted a profit of Rs 1,801.7 crore in the corresponding quarter of the previous fiscal, Power Grid Corporation of India said in a BSE filing.

Shares of FMCG player Marico yesterday fell 2.5 per cent after the company reported an 11.92 per cent decline in its consolidated net profit for the first quarter ended June 30.

Shares of Maruti Suzuki India (MSI) yesterday went up by nearly 2 per cent after the company posted a 20.6 per cent rise in total sales for July. The scrip of the country’s largest carmaker ended at Rs 7,859.10, up 1.96 per cent on the BSE. Intra-day, it gained 2.75 per cent to Rs 7,920 — its 52-week high.

Shares of IT firm Tech Mahindra yesterday ended 4.5 per cent higher, adding Rs 1,722 crore to its market valuation, after the company reported 6.5 per cent rise in net profit for the June quarter.

PC Jeweller yesterday reported 27 per cent increase in its net profit at Rs 135.82 crore for the quarter ended June.
Its net profit stood at Rs 106.59 crore in the year-ago period, the company said in a regulatory filing.

Anil Ambani-led Reliance Defence and Engineering yesterday said its standalone net loss has widened to Rs 230.4 crore for the quarter ended June 30, 2017. The company had posted a standalone loss of Rs 134.5 crore in the corresponding quarter of the previous fiscal, Reliance Defence and Engineering said in a filing to BSE.

Sajjan Jindal-led JSW Steel yesterday reported 44 per cent decline in net profit at Rs 624 crore during the quarter ended June 2017, following flat crude steel production and higher prices of inputs like iron ore, fluxes and power. The total revenue during the quarter increased sharply by 24 per cent to Rs 15,977 crore, with crude steel production up 1 per cent at 3.91 million tonnes and saleable steel up 5 per cent at 3.51 million tonnes.

The initial public offer of Cochin Shipyard was subscribed 92 per cent on the first day of the three-day bidding yesterday.
The IPO received bids for 3,13,17,540 shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed. Public sector unit Cochin Shipyard aims to raise up to Rs1,468 crore through its share sale offer.

The initial share sale offer of  Security and Intelligence Services (India) Limited (SIS) was oversubscribed 1.93 times on the second day of bidding. The IPO received bids for 1,02,71,682 shares against the total issue size of 53,16,187 shares, NSE’s data showed. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 1.12 times and non institutional investors 9 per cent. Retail investors was also oversubscribed 7.14 times.

Leading stock exchange BSE today said markets regulator Sebi has approved the appointment of Dhirendra Swarup as the bourse’s new chairman. Swarup, who was a public interest director at the BSE, replaces incumbent Sudhakar Rao.

State-owned Punjab National Bank (PNB) has got approval of the board of directors to raise Rs 3,000 crore by various ways, including follow on public offer or rights issue.

Torrent Power yesterday reported over four-fold jump in net profit to Rs 203.2 crore for the April-June quarter on the back of rise in revenue from operations.

Indian markets on Wednesday:

Setting new records for the second day, the benchmark Sensex today closed at 32,575 and the Nifty at 10,115 as investors wait for the outcome of the RBI policy meet tomorrow amid corporate earnings momentum. Improving monthly sales numbers from automakers and a firming trend in global markets fuelled the rally. The Sensex settled at yet another new high of 32,575.17 by surging 60.23 points, or 0.19 per cent. It surpassed its previous record of 32,514.94 reached yesterday.
The gauge had risen 205.06 points in the previous session. The NSE Nifty closed at 10,114.65 — a new peak — up 37.55 points, or 0.37 per cent. It broke previous record closing of 10,077.10 hit yesterday.

Rupee Close On Wednesday:

The rupee racked up strong gains to end at a fresh two-and-a-half month high of 64.07 against the US currency, appreciating by 12 paise on heavy dollar selling amid expectations of a rate cut by the Reserve Bank tomorrow.

US Stocks on Wednesday:

The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks. Apple rose 0.89 percent as Wall Street awaited the largest publicly listed company’s quarterly report after the bell, with the iPhone maker expected by analysts to post a 6-percent rise in revenue.

Apple Inc on Tuesday delivered surprisingly strong fiscal third-quarter earnings and signalled that its upcoming 10th-anniversary phone lineup is on schedule, driving the stock up 6 percent to an all-time high in after-hours trading. The stock climbed above its intraday record high to $159.10 after the company reported better-than-expected iPhone sales, revenue and earnings per share. The stock price move was expected to help drive the Dow Jones Industrial Average over the 22,000 mark on Wednesday. Apple also said it hit a milestone of 1.2 billion iPhones sold.

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