Nifty futures were trading 21 points or 0.13 per cent up at 15,884.50 on Singaporean Exchange, indicating a gap-up start for BSE Sensex and Nifty 50 on weekly F&O expiry day
Nifty futures were trading 21 points or 0.13 per cent up at 15,884.50 on Singaporean Exchange, indicating a gap-up start for BSE Sensex and Nifty 50 on weekly F&O expiry day. In the previous session, the Nifty 50 index logged gains, while the Bank Nifty remained on the back foot and lost 200 points from the highs. Analysts say on the day of the weekly expiry of index options and the quarterly results of the index giant Infosys, markets would see the levels of 15950/53200 in the near term in case the Nifty/Sensex survive above the levels of 15800/52700. “On the other hand, below the levels of 15800/52700, benchmark indices would find support at 15760/52550 and at 15740/52450 levels. A close below the level of 15760/ 52550 would be negative for the market,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities.
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Infosys: Infosys’ April-June quarter earnings was a mixed bag with the company missing street estimates on the net profit front but raising its full-year revenue guidance. The company posted nearly 23 per cent rise in net profit for the June quarter at Rs 5,195 crore and raised its revenue growth outlook for the full fiscal to 14-16 per cent.
ITC: ITC’s hygiene brand Savlon has become an over Rs 1,000 crore brand in terms of consumer spends, backed by heightened demands for hygiene products amid the ongoing Covid pandemic.
Titan Company: Big bull Rakesh Jhunjhunwala reduced stake in the Titan Company to 3.72 per cent in the June quarter from 3.97 percent earlier.
L&T Technology Services: The IT firm company reported profit at Rs 216.2 crore in Q1FY22 against Rs 194.5 crore in Q4FY21. The revenue of the company rose to Rs 1,518.4 crore from Rs 1,440.5 crore in the March 2021 quarter.
Marico: Marico has entered into Share Subscription Agreement and Shareholders agreement with Apcos Naturals Private Limited, and a Share Purchase Agreement with its existing
promoters and shareholders, to make a strategic investment in Apcos Naturals by acquiring/subscribing 60 % of the total paid-up share capital in the form of equity shares and Compulsorily Convertible Preference Shares (CCPS) of Apcos Naturals.