Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were staring at a negative start on Tuesday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 116.50 points or 0.7 per cent down at 16,173.50 on Singaporean Exchange. In the previous session, S&P BSE Sensex jumped 760 points to end at 54,521 level while the Nifty closed at 16,279, up 229 points. Analysts say markets globally rebounded after US Fed officials favoured 75bps rate hike as compared to a 100 bps rate hike in upcoming policy meeting. “Progressive monsoon, ongoing result season, easing in commodity prices and expected growth in rural demand have helped the domestic markets to recover smartly from their lows,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.
Stocks to watch on Tuesday, 19 July 2022
Yes Bank: Private lender Yes Bank plans to invest Rs 350 crore to acquire a 20% stake in JC Flowers Asset Reconstruction Company (ARC), which it has identified as the base bidder for its Rs 48,000-crore pile of stressed assets. The bank plans to raise $1 billion in capital during the current financial year.
IndusInd Bank: IndusInd Bank on Monday said its board has approved a proposal to raise up to Rs 20,000 crore in debt on a private placement basis to fund its business growth. The capital adequacy ratio of the bank stood at 18.42% as on March 31, with tier-I capital being at 16.80% and tier-II capital at 1.62% as percentage of its risk-weighted assets.
Bank of Maharashtra: Public sector lender Bank of Maharashtra on Monday reported a 117% on-year increase in net profit to Rs 452 crore for the first quarter of the current financial year, on account of lower provisioning. The bank made provisions of Rs 548 crore, 27% lower compared to the previous year.
Adani Wilmar: Consumption of food staples is slated to improve in the second half of the year with correction in prices of key commodities like edible oil, improved weather conditions, the upcoming festive season, and expectations of growth in rural demand on the back of a good harvest, Adani Wilmar CEO and MD Angshu Mallick said on Monday.
Reliance Industries: India’s largest telecom operator Reliance Jio Infocomm has submitted earnest money deposit (EMD) of Rs 14,000 crore ahead of its participation in 5G auction, while Bharti Airtel has put in Rs 5,500 crore.
HUL, HDFC Life: BSE-listed companies such as Hindustan Unilever, HDFC Life Insurance Company, ICICI Lombard General Insurance Company, Ambuja Cements, L&T Finance Holdings, Network18 Media & Investments, TV18 Broadcast, Polycab India, AU Small Finance Bank, DCM Shriram, Garware Synthetics, Hatsun Agro Product, Kirloskar Pneumatic, Ponni Sugars (Erode), Rallis India, Shemaroo Entertainment, and Steel Strips Wheels will be in focus ahead of quarterly earnings on 19 July 2022.
Jubilant FoodWorks: Jubilant Foodworks arm raises stake in DP Eurasia N V (DPEU) to 44.75%. Subsidiary Jubilant Foodworks Netherlands BV (JFN) has increased its stake by 2.06% in DPEU to 44.75%.
NTPC, Oil India: State-owned power giant and oil marketer have inked a pact to form a joint venture firm for meeting the electricity requirements of upcoming projects of the oil major.