Stocks in focus: The GIFT Nifty recorded a 0.16% gain during Friday’s early trading session, with a value of 19,796.5 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex. Benchmark indices NSE Nifty 50 and BSE Sensex ended deep in the red. The Nifty 50 fell 0.6% to close at 19,659.9. On the other hand, Sensex crashed 440 points to end at 66,266.82.
“The FOMC’s decision aligned with market expectations as they implemented a 25 bps hike and expressed a data-centric approach for future rate actions. Positive global sentiment prevailed due to the reduced prospects of a US recession. Despite this, the domestic market witnessed sharp corrections led by banks and autos, while pharma stocks performed on a positive start to their earnings season,” said Vinod Nair, Head of Research at Geojit Financial Services.
Stocks to Watch on 28 July, 2023
Lupin
Concerns raised by the US FDA regarding Lupin’s facilities in Goa and Pithampur has now been addressed. The US FDA was satisifed with the corrective actions taken by the drug maker.
Indian Bank
Indian Bank’s Q1FY24 net profit jumped 41% on-year at Rs 1,709 crore from Rs 1,213 crore in Q1FY23. Sequentially too, the profit increased 18% from Rs 1447 crore in Q4FY23.
RVNL
The government has decided to exercise the green-shoe option for the Rail Vikas Nigam OFS, offloading an additional 1.96% stake in Rail Vikas Nigam. On Thursday, the non-retail portion of the offer-for-sale saw 273% demand.
Adani Transmission
Adani Transmission on Thursday said it has renamed itself to Adani Energy Solutions Limited with immediate effect.
IIFL Finance
IIFL Finance clocked a 43% on-year jump in Q1FY24 profit after tax to Rs 472.9 cr from Rs 329.7 crore in Q1FY23 on the back of robust loan growth in core products – gold loans and home loans.
Dr Lal Pathlabs
Dr Lal PathLabs on Thursday posted fiscal first quarter profit at Rs 82.60 crore, up 43.2% on-year as against Rs 57.70 crore during the first quarter of FY23.
Brookfield India REIT
Brookfield India Real Estate Trust launched a QIP issue to raise funds to the tune of Rs 1,500 crore. The floor price is at Rs 265.79 per unit.
NDTV
NSE and BSE imposed a penalty of Rs 6.1 lakh on NDTV for non-compliance with certain requirements and regulations. The media company has filed an application, seeking to have the penalty waived in accordance with the Policy for Exemption of Fines.
Marico, Mahindra & Mahindra Financial Services, Equitas Small Finance Bank, IOC, DCB Bank, SBI Cards
Shares of Marico, Mahindra & Mahindra Financial Services, Equitas Small Finance Bank, IOC, DCB Bank, SBI Cards will be in focus today as they gear up to announce their first fiscal quarter earnings results.