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“Market will keep an eye on the manufacturing data to be released this week both - globally as well as locally. Also, the Bank of England will announce its rate decision on Thursday. Auto sector will be in focus as companies would announce their monthly sales numbers,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Financial Services.
“The recent dip in the market indicates a healthy correction citing the pace of decline and intermediate buying across sectors,” said Ajit Mishra, SVP - Technical Research, Religare Broking. Hero MotoCorp, Maruti Suzuki, Piramal Enterprises, Adani Green Energy, PowerGrid IndiGo among stocks to watch on Monday.
Hero MotoCorp, the world's largest motorcycle manufacturer, has announced a significant partnership with Zero Motorcycles, a leading American electric motorcycle manufacturer. The partnership aims to accelerate the transition of electric mobility in India and across global markets.
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Shares of state-run UCO Bank would be in focus on Monday morning after the PSU bank reported an 80.80% YoY rise in net profit at Rs 223 crore for the June quarter compared with Rs 124 crore in the same quarter last year. The lender said its net interest income (NII) for the quarter rose 21.78% YoY to Rs 2,009 crore from Rs 1,650 crore in the corresponding quarter last year.
The Directorate General of Civil Aviation (DGCA) on Friday imposed a fine of Rs 30 lakh on IndiGo for four tail strikes within a span of six months this year. The regulator said that it carried out investigations where it found certain deficiencies in the airline’s documentation pertaining to operations, training and engineering procedures.
Piramal Enterprises board has approved a share buyback of up to 1,40,00,000 shares of face value Rs 10 each for an aggregate amount not exceeding Rs 1,750 crore. Piramal Enterprises set the buyback price at Rs 1,250 and said the buyback size represents 5.87% of the total paid-up equity share capital of the company. The buyback price was at a 16.51% premium over Friday's closing price of Rs 1,072.80.
Rail Vikas Nigam Ltd (RVNL) has received a Letter of Award (LoA) from Haryana Rail Infrastructure Development Corporation (HRIDC) for a project worth Rs 1,088 crore. The project is to be executed in 1,460 days (4 years).
Maruti Suzuki India, Power Grid, Adani Green Energy, Adani Transmission (Adani Energy Solutions), GAIL India, Bosch, UPL, Oberoi Realty, Petronet, KEI Industries, Navin Fluorine International, JBM Auto, IRB Infrastructure Developers, Lakshmi Machine Works, Castrol India, Welspun India, Go Fashion, HG Infra Engineering, TCI, NOCIL, HMA Agro, Som Distilleries and Breweries, InfoBeans Technologies, Dhanlaxmi Bank, and more
Brigade Enterprises, EIH Associated Hotels, Fairchem Organics, Igarashi Motors, Jindal Worldwide, Mindspace Business Parks REIT, Voltamp Transformers, VRL Logistics' shares will trade ex-dividend today (July 31).
"Nifty continues to be in a short-term downward correction and this consolidation is likely to continue for next week. Any upside bounce from here could encounter strong resistance around 19,750-19,800 levels. The next crucial lower supports to be watched around 19,500-19,450 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“On the weekly chart, we can observe that the Bank Nifty traded within the range 44,700 – 46,370 of the penultimate week and thus formed an Inside Bar pattern which makes the extremes of the range crucial levels to watch out for in the short-term. A breach of this range on either side shall lead to a move in that direction. Overall, we expect the bank Nifty to consolidate between 46,500 – 45,000," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.