NEW DELHI: Trends in SGX Nifty indicate a flat opening for the broader Indian equity markets on Friday.
Indian markets rallied on Thursday after softer-than-expected US inflation data triggered hopes that the US Federal Reserve might go slow on rate hikes. Most global markets got a boost after the US consumer price index rose 8.5 per cent year-on-year in July, against a 9.1 per cent rise in June, which was also the highest in four decades.
The Nifty rose 0.7 per cent, to close at 17,659 – the highest since April 11. The Sensex ended at 59,332, with a gain of 0.8 per cent. However, American brokerage BofA Securities hinted towards more pain in store for investors in Indian equities with a call for the benchmark indices to correct 10 per cent more by December. The brokerage said the 50-share benchmark Nifty will be at 15,600 points by December 31, 2022.
US Stocks wiped out gains on speculation the rally that followed softer inflation data went too far, with the Federal Reserve still set to keep its monetary policy tight. Bond yields climbed. The Dow Jones Industrial Average gained 0.09% or 27 points, the Nasdaq was down 0.58%, and the S&P 500 fell 0.07%.
Corporate results today
ONGC, Life Insurance Corporation of India, Hero MotoCorp, Grasim Industries, Divis Labs, Zee Entertainment Enterprises, Aegis Logistics, Ahluwalia Contracts, Apollo Tyres, Astral, Bajaj Electricals, Bajaj Healthcare, Bajaj Hindusthan Sugar, Balaji Amines, Bharat Dynamics, Campus Activewear, Dilip Buildcon, Dhani Services, Finolex Cables, Godrej Industries, Hindustan Aeronautics, Indiabulls Real Estate, India Cements are among the 700 companies that will announce their June quarter earnings on August 12.
Stocks under F&O ban on NSE
Two stocks – Balrampur Chini Mills, and Delta Corp – are under NSE F&O ban for August 12. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
Eicher Motors will be in focus today as the shares will turn ex-dividend. The auto major has announced a dividend of Rs 21 per equity share.
Adani Enterprisesplans to invest $5.2 billion in setting up an alumina refinery in Odisha, as Gautam Adani, Asia’s richest man, adds one more business to his rapidly-expanding empire. The flagship company of the Adani Group got the approval to build the refinery and a captive power plant in Rayagada for an investment of Rs 416.53 billions ($5.2 billion), according to a Twitter post by the office of the state’s Chief Minister, Naveen Patnaik.
Aurobindo Pharma: The pharma company reported a 32.4% year-on-year growth in consolidated profit at Rs 520.4 crore for the quarter ended June FY23. Revenue grew by 9.4% to Rs 6,236 crore compared to year-ago period.
Oil India: Oil India Ltd (OIL) reported a tripling of its net profit in the June quarter on record oil and gas price realisation. Its net profit was Rs 1,555.46 crore in the April-June period compared to Rs 507.94 crore in the year-ago period.
Bharti Airtel: Bharti Airtel on Thursday launched Wynk Studio, a web platform which will help Indian and international artists launch and monetise music on multiple platforms.
Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Company is going to sell up to 23.7 lakh shares or 1.25% stake via offer for sale on August 12 and August 16. The floor price of the offer will be Rs 270 per share.
Sunteck Realty: The company reported a 726% year-on-year increase in consolidated profit at Rs 24.94 crore for the quarter ended June FY23.
Puravankara: Realty firm Puravankara reported a 78% decline in its consolidated net profit at Rs 34.44 crore for June quarter.
Bata India on Thursday reported a 71.82% rise in consolidated net profit at Rs 119.37 crore for the first quarter of FY23. The company had posted a net profit of Rs 69.47 crore in the April-June quarter a year ago/
Indian markets rallied on Thursday after softer-than-expected US inflation data triggered hopes that the US Federal Reserve might go slow on rate hikes. Most global markets got a boost after the US consumer price index rose 8.5 per cent year-on-year in July, against a 9.1 per cent rise in June, which was also the highest in four decades.
The Nifty rose 0.7 per cent, to close at 17,659 – the highest since April 11. The Sensex ended at 59,332, with a gain of 0.8 per cent. However, American brokerage BofA Securities hinted towards more pain in store for investors in Indian equities with a call for the benchmark indices to correct 10 per cent more by December. The brokerage said the 50-share benchmark Nifty will be at 15,600 points by December 31, 2022.
US Stocks wiped out gains on speculation the rally that followed softer inflation data went too far, with the Federal Reserve still set to keep its monetary policy tight. Bond yields climbed. The Dow Jones Industrial Average gained 0.09% or 27 points, the Nasdaq was down 0.58%, and the S&P 500 fell 0.07%.
Corporate results today
ONGC, Life Insurance Corporation of India, Hero MotoCorp, Grasim Industries, Divis Labs, Zee Entertainment Enterprises, Aegis Logistics, Ahluwalia Contracts, Apollo Tyres, Astral, Bajaj Electricals, Bajaj Healthcare, Bajaj Hindusthan Sugar, Balaji Amines, Bharat Dynamics, Campus Activewear, Dilip Buildcon, Dhani Services, Finolex Cables, Godrej Industries, Hindustan Aeronautics, Indiabulls Real Estate, India Cements are among the 700 companies that will announce their June quarter earnings on August 12.
Stocks under F&O ban on NSE
Two stocks – Balrampur Chini Mills, and Delta Corp – are under NSE F&O ban for August 12. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
Eicher Motors will be in focus today as the shares will turn ex-dividend. The auto major has announced a dividend of Rs 21 per equity share.
Adani Enterprisesplans to invest $5.2 billion in setting up an alumina refinery in Odisha, as Gautam Adani, Asia’s richest man, adds one more business to his rapidly-expanding empire. The flagship company of the Adani Group got the approval to build the refinery and a captive power plant in Rayagada for an investment of Rs 416.53 billions ($5.2 billion), according to a Twitter post by the office of the state’s Chief Minister, Naveen Patnaik.
Aurobindo Pharma: The pharma company reported a 32.4% year-on-year growth in consolidated profit at Rs 520.4 crore for the quarter ended June FY23. Revenue grew by 9.4% to Rs 6,236 crore compared to year-ago period.
Oil India: Oil India Ltd (OIL) reported a tripling of its net profit in the June quarter on record oil and gas price realisation. Its net profit was Rs 1,555.46 crore in the April-June period compared to Rs 507.94 crore in the year-ago period.
Bharti Airtel: Bharti Airtel on Thursday launched Wynk Studio, a web platform which will help Indian and international artists launch and monetise music on multiple platforms.
Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Company is going to sell up to 23.7 lakh shares or 1.25% stake via offer for sale on August 12 and August 16. The floor price of the offer will be Rs 270 per share.
Sunteck Realty: The company reported a 726% year-on-year increase in consolidated profit at Rs 24.94 crore for the quarter ended June FY23.
Puravankara: Realty firm Puravankara reported a 78% decline in its consolidated net profit at Rs 34.44 crore for June quarter.
Bata India on Thursday reported a 71.82% rise in consolidated net profit at Rs 119.37 crore for the first quarter of FY23. The company had posted a net profit of Rs 69.47 crore in the April-June quarter a year ago/
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