Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a negative start on the first day of the week, after hitting fresh lifetime highs in the previous session
Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a negative start on the first day of the week, after hitting fresh lifetime highs in the previous session. In the absence of any major event in domestic markets, markets will take cues from global markets. Apart from the rupee-dollar trends and foreign institutional investors’ movements, Brent crude prices movement would also be watched by investors. Analysts expect the equity market to continue with its strong positive momentum as the economic activities are expected to further pick up pace with the lockdown measures getting relaxed. “The result season is now largely over with corporate earnings being in-line to better than expectations. Going ahead, we expect corporate earnings to improve further as economy opens up and improving vaccination trends,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.
Stocks to watch
Devyani, Windlas, Exxaro, Krsnaa listing: Today all eyes would be on listing of four recently concluded IPOs — Devyani International, Windlas Biotech, Exxaro Tiles, and Krsnaa Diagnostics.
Coal India: Coal India Ltd has set a capital expenditure target of Rs 17,000 crore for the 2021-22 fiscal, which is around Rs 4,000 crore more than its spending last year, an official said on Sunday.
Tata Steel: Tata Steel has outlaid a capital expenditure of Rs 3,000 crore for its European operations as its focus is to make the business “stronger”, the company’s CEO and Managing Director T V Narendran said.
Petronet LNG: India’s largest gas importer Petronet LNG reported a 22.2% year-on-year rise (y-o-y) in net profit to Rs 635.7 crore on a standalone basis for the quarter ended June 30.
Vodafone Idea: Vodafone Idea’s net loss expanded yet again, coming in at Rs 7,319 crore for the April-June quarter. The net loss is much higher than what analyst expected at Rs 6,387 crore, and wider compared to the preceding March quarter loss of Rs 7,023 crore.
PC Jeweller: PC Jeweller on Saturday reported narrowing of net loss to Rs 65.58 crore for the first quarter ended June 30, 2021.
ONGC: State-owned Oil and Natural Gas Corp (ONGC) net profit soared by nearly 800 per cent in the first quarter of the current fiscal after more than doubling of oil prices compensated for a fall in production.