“We expect the market to continue its northbound journey with phases of consolidation. The power sector remains in focus after NTPC reported strong quarterly results. Auto stocks will be in action as companies are likely to release improving monthly sales numbers, especially 2W and CV segment,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Financial Services
“Markets started the week on a positive note and gained over half a percent, tracking supportive global cues. This rebound is largely on the expected lines but we need sustainability above 19,850 in Nifty to resume the uptrend,” said Ajit Mishra, SVP - Technical Research, Religare Broking. Maruti Suzuki, Bharti Airtel, Adani Green Energy, Jet Airways, Adani Total Gas among stocks to watch on Tuesday
Adani Green Energy Ltd on Monday said its consolidated profit grew 50.93% YoY to Rs 323 crore in the June quarter compared with Rs 214 crore in the same quarter last year. Revenue from operations jumped 55.04% YoY to Rs 2,059 crore from Rs 1,328 crore in the same quarter last year
Telecom major Airtel has prepaid Rs 8,024 crore to the Department of Telecommunications (DoT) as part of its deferred liabilities for the spectrum acquired in the 2015 auction, the company said on Monday. The Sunil Mittal-led telecom company informed that the said instalments were paid with an interest of 10%, leveraging much lower cost of financing available to it
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Maruti Suzuki India on Monday reported a 145.31% jump in its Q1FY24 profit. Maruti Suzuki Board has approved the termination of the contract manufacturing agreement with Suzuki Motor Gujarat (SMG). Presently, Suzuki Motor Corporation holds 100% equity capital of SMG. The acquisition of 100% equity capital by Maruti Suzuki India (MSIL) from SMG is expected to be completed by FY24
Jalan-Kalrock Consortium, the resolution applicant of Jet Airways on Monday, said that it has successfully obtained renewal for the Air Operator Certificate (AOC) of Jet Airways from DGCA on July 28, 2023, thereby reinforcing its commitment to revive Jet Airways. According to Jet Airways, the renewal of AOC revalidates the confidence of the Indian Aviation Regulator in the revival of the beleaguered airline
Adani Total Gas, Thermax, Metro Brands, Escorts Kubota, KPR Mill, PVR INOX, Redington, Aptus Value Housing Finance India, Triveni Turbine, Bikaji Foods International, Anupam Rasayan India, Godrej Agrovet, Syrma SGS Technology, Maharashtra Seamless, Anant Raj, Kirloskar Brothers, GMDC, Sansera Engineering, Harsha Engineers, Welspun Enterprises, Dalmia Bharat Sugar, Orient Cement, Ugro Capital, Tracxn Technologies, and more
Shares of DB Corp, Exide Industries, JK Cement, Orient Paper and Industries, Resonance Specialties, Rupa and Company, Sharda Cropchem, Shetron, and SRF will be trading ex-dividend on Tuesday (August 1, 2023)
"The underlying trend of Nifty remains choppy. A decisive move above the immediate resistance of 19,870 levels could open sharp upside towards the next resistance of around 20K mark in the near term. Immediate support is placed at 19,600 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty managed to hold on the 20-day moving average (45,392) and witnessed a bounce from that support. The Bollinger bands are contracting which indicates contraction of range and also range-bound price action over the next few trading sessions. Divergent signals from the daily and hourly momentum indicators further support our sideways outlook for Bank Nifty. Overall, we expect the bank Nifty to consolidate between 46,500 – 45,000," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
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