Indian stock markets opened in the positive territory on Wednesday, with the Sensex scaling fresh record high of 37,702.34 points in opening trade. The Nifty of the National Stocks Exchange too surged to a new intra-day high of 11,380.85 points in early trade. Asian shares were higher on Wednesday tracking a firmer Wall Street finish, though reports that Washington plans to raise tariffs on $200 billion of Chinese goods have put the focus back on volatile Sino-U.S. trade relations, according to a Bloomberg report.
Stocks in news today: These stocks will be in focus on August 1, 2018
Tata Motors: Tata Motors group reported a consolidated net loss of Rs 1,862.57 crore for the first quarter ended June 30, dragged down by multiple challenges that its British arm JLR faced in major markets, including China, UK, Europe and the US. Total revenue from operations, however, rose to Rs 67,081.29 crore as compared with Rs 59,818.22 crore in the year-ago period, Tata Motors said in a regulatory filing.
RIL: Reliance Industries on July 31 regained its status as the country’s most valued firm by market capitalisation (m-cap), replacing Tata Group’s crown jewel TCS from the top slot. At close on BSE on Tuesday, RIL’s market valuation stood at Rs 7,51,414.89 crore, which is Rs 8,192.73 crore more than that of TCS’ Rs 7,43,222.16 crore m-cap.
RInfra, Apollo Tyres: Apollo Tyres, Emami Ltd, Orient Cement, Reliance Infrastructure, Tata Global Beverages and V2 Retail are among the companies which will announce their quarterly results today.
Vedanta: Vedanta Ltd posted 2.13% rise in consolidated net profit to Rs 1,533 crore for the first quarter ended June 30, 2018-19. It said the net profit after taxes, non-controlling interests and share in profit of jointly controlled entities and associates but before exceptional items, according to a PTI report.
Power Grid: State-owned transmission utility Power Grid Corporation posted over 9% rise in standalone net profit to Rs 2,240.54 crore for the first quarter this fiscal on the back of higher revenues. Total income of the company rose to Rs 8,427.67 crore in the quarter under review as against Rs 7,389.83 crore a year ago, the company said in a BSE filing.
BoI: State-run Bank of India reported a 8.44% rise in net profit at Rs 95 crore in the June quarter, helped by growth in interest income. The lender reported profits in the June quarter after two consecutive quarterly losses.
Banking stocks: Official data on Tuesday showed that Indian banks stood on gross bad loans of more than Rs 9.61 lakh crore by the end of 2017-18 while loans to industries formed a major chunk of such non-performing assets, said a PTI report.
Avenue Supermarts: Parent company of D-Mart Avenue Supermarts reported a growth of 43.4% in profit after tax for the quarter ended June 30.