Sensex adds 138 pts; Zomato ends 65% up over issue price at Rs 126 on BSE

The BSE MidCap and SmallCap indices, however, underperformed the benchmarks

4:18 PM

MARKET VIEW :: Ajit Mishra, VP - Research, Religare Broking

Markets traded volatile and ended marginally in the green amid mixed global cues. In the first half, the benchmark hovered in a range however healthy buying in banking, FMCG and realty aided markets to inch gradually higher as the session progressed. Eventually, the Nifty closed with gains of 0.2% at 15,856 levels. All the sectoral indices ended in positive, except for auto, energy and media. The broader markets traded mixed wherein midcap ended in-line with benchmark while smallcap ended lower by 0.5%. 

Markets will first react to results of two index majors viz. Reliance Industries and ICICI Bank on Monday i.e. 26th July. Besides, participants will be closely eyeing the global markets for cues. As we’re again trading closer to the upper band of the prevailing consolidation range i.e. 15,900 zone, we reiterate our view to limit naked leveraged positions and wait for a decisive signal from the index.

 

3:51 PM

Tech View :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index closed a day on a positive note for a second consecutive day at 15856 with mild gains and formed a doji candle on daily chart which hints indecision in the markets. Going forwards overall range is coming in between 15600-16000 mark & either side breakouts will decide the final direction of the markets, immediate support is coming near 15800-15700 zone holding above said levels one can expect a breakout above 16k mark which is immediate & strong hurdle on the higher side also any dip near mentioned supports will be again buying opportunity.

3:50 PM

MARKET CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Domestic indices continued to advance ahead tracking rising global risk appetite and higher domestic inflows from local investors. Earnings season continued to pump in optimism in India & global markets while the Fed is set to deliberate their easy-money policy in the meeting ahead. Attractive IPOs, Banking and realty stocks attracted domestic buyers while mid and small-cap traded mixed.

3:50 PM

Mahindra Holidays gains 5% as firm to mull bonus issue next week

3:47 PM

JSW Steel ends 10% higher amid expectations of strong Q1 show

> Profit at Rs 5900 crore as against a loss of Rs 582 crore YoY

> Revenue stood at Rs 28902 crore versus Rs 11782 crore YoY

(Post market hours)

 

3:43 PM

RIL ends lower ahead of Q1 numbers later today

3:42 PM

Vodafone Idea tanks 10% on SC's AGR verdict

>> Supreme Court (SC) dismissed the application of telecom companies that sought recomputation Adjusted Gross Revenue (AGR) dues demanded by the Department of Telecommunication (DoT)

3:40 PM

Zomato shares end at 65% premium over issue price

> The scrip had touched a high of Rs 138.90 in trade earlier

3:38 PM

Market breadth in favour of losers on BSE

3:36 PM

Broader markets lag benchmark in Friday's session

3:36 PM

Sector Watch :: Nifty Realty, Bank lead sectoral gainers

3:35 PM

Sensex Heatmap | Top gainers & losers in today's trade

3:33 PM

CLOSING BELL: Sensex, Nifty take winning run to 2nd day

BSE Sensex closed 139 points or 0.26% higher at 52,976 while NSE Nifty clocked 32-point or 0.20% gain to settle at 15,856. ICICI, ITC and Axis Bank were the top index contributors in trade today.

3:24 PM

Sector Watch :: BSE Realty index up 1.5%, trades at top sectoral gainer

3:08 PM

India's economic rebound faces rising risk from Delta variant: Reuters poll

India's economic rebound, already weakened in recent months, could lose further momentum as coronavirus variants pose the greatest threat and inflation rises, a Reuters poll of economists found. The latest survey results suggest difficult policy decisions lie ahead for the Reserve Bank of India, which has already seen two consecutive months of inflation above the 6% upper limit of the range it tolerates. READ MORE

2:57 PM

Shriram Housing Finance charts Rs 10,000-cr AUM growth map by FY24

Shriram Housing Finance has drawn up an aggressive growth trajectory for the next two years with a plan to close the loan book at around Rs 5,600 crore this fiscal, and end FY24 at the Rs 10,000-crore mark, a top company official has said.

 

The city-based affordable housing focused lender, which is one of the three credit business verticals of the Chennai-based Shriram Group, closed FY21 with a loan book of Rs 3,923 crore, which despite the pandemic washout has already crossed Rs 4,000 crore as of end-June. READ MORE

2:41 PM

ITC records sharpest intra-day gain in two months ahead of Q1 results

Shares of ITC moved higher by 3 per cent at Rs 213.60 on the BSE in the intra-day trade on Friday, on back of heavy volumes, ahead of its April-June quarter (Q1FY22) earnings on Saturday, July 24. In comparison, the S&P BSE Sensex was up 0.39 per cent at 53,041 levels at 02:20 pm. Trading volumes on the counter more-than-doubled with a combined 36 million equity shares having changed hands on the NSE and BSE till the time of writing of this report. READ MORE

2:29 PM

Result tomorrow | ICICI Bank Q1 net profit may nearly double YoY on lower provisions

Analysts, across-the-board, remain bullish on the lender's bottom line figure and expect the profit after tax (PAT) to grow anywhere between 59 per cent to 95.5 per cent over the previous year. Motilal Oswal Financial Services has given the most conservative estimate of Rs 4,140 crore while global brokerage Nomura has pegged the PAT at Rs 5,082.1 crore. Both these figures mean a sequential rise between -6 and 15.4 per cent. READ MORE

2:13 PM

Result tomorrow | ITC Q1 preview: Low base, cigarette business to spur revenue, profit growth

ICICI Direct

 

We expect ITC to witness a 29.3 per cent YoY revenue growth led by 33.7 per cent growth in the cigarettes segment, mainly on account of severe adverse sales in base quarter, ICICI Direct opined. It projects Q1FY22 revenue at Rs 12,284.9 crore as against Rs 9,501.75 crore posted in corresponding quarter last year. According to the brokerage, QoQ, revenue could fall 13.22 per cent from Rs 14,156.96 crore posted in the preceding quarter. READ MORE

1:59 PM

Analysts dump Voda Idea for Airtel post AGR re-calculation case verdict

In a major setback for telecom companies, the Supreme Court (SC), on Friday, dismissed all the pleas seeking re-calculation of adjusted gross revenue (AGR) dues, hanging firms out to dry. Analysts see the verdict having the potential to alter the industry dynamics to a duopoly (two-player sector) with Bharti Airtel and Reliance Jio as frontline players if Vodafone Idea is unable to find a new strategic investor, or fails to raise tariff without a significant subscriber churn. READ MORE

1:51 PM

Schaeffler India rallies 20% in two days on strong June quarter results

Shares of Schaeffler India rallied 11 per cent to Rs 6,489 on the BSE in intra-day trade on Friday, surging 20 per cent in the past two trading days, after the company reported a profit after tax (PAT) of Rs 128 crore in the June quarter (Q2FY21). The company, a leading industrial and automotive supplier, had posted a loss of Rs 42.5 crore in Q2FY20. In the previous quarter, it had posted a profit of Rs 139.5 crore. READ MORE

1:44 PM

Q1 Results :: Federal Bank

Net profit at Rs 367 crore vs Rs 401 crore YoY

 

Net NPA at Rs 1.23% vs 1.19% QoQ

 

Gross NPA at 3.5% vs 3.4% QoQ

 

NII at Rs 1414 crore vs Rs 1296 crore

1:40 PM

NEWS ALERT :: Adani Wilmar likely to file DRHP for IPO next week

> The company looks to raise Rs 5,000 crore via IPO

> Likely to be a fresh issue of shares

(Source: CNBC-TV18)

1:24 PM

Mahindra Lifespace zooms 19% as firm to consider bonus issue plan

Shares of Mahindra Lifespace Developers zoomed 19 per cent to Rs 793.10 on the BSE in intra-day trade on Friday after the company announced that its board will consider maiden bonus issue in their forthcoming meeting on Wednesday, July 28, 2021. The share price of the real estate and infrastructure development company of Mahindra Group hit a 52-week high. The scrip has rallied 33 per cent in the past one month as against a rise of 1 per cent in the S&P BSE Sensex during the same period. READ MORE

12:57 PM

NEWS ALERT

12:55 PM

Britannia Industries to invest Rs 94 crore for expansion of its Odisha unit

Britannia Industries announced an investment of Rs 94 crore for the expansion of its manufacturing plant in Odisha's Khurda district to cater to the growing demand for its products across multiple categories. The company has planned to invest Rs 94 crore to add two new manufacturing lines that will increase its capacity by 85 per cent from the current 35,000 metric tonne to 65,000 metric tonne per annum.

(Text Source: PTI)

12:43 PM

Mid-market view :: Gaurav Garg, Head of Research, CapitalVia Global Research

We witnessed an attempt in the market to hold above an important support level of 15,800. While sustaining above 15,800 is key from a short-term perspective, we expect the market to extend the rally till 15,920-15,950.

12:13 PM

Despite SC verdict on AGR dues, Airtel, Voda Idea look good on charts

The Supreme Court on Friday dismissed the applications filed by telecom majors, including Vodafone Idea and Bharti Airtel, raising the issue of alleged errors in calculation in the figure of Adjusted Gross Revenue (AGR) related dues payable by them. Post the development, the impacted stocks - Bharti Airtel and Vodafone Idea - traded weak with the latter slipping as much as 15 per cent in intra-day deals. Is it time to stay away from the telecom sector given the development? HERE'S WHAT TECH CHARTS ARE SIGNALLING

12:09 PM

NEWS ALERT :: Mahindra Holidays board to consider bonus issue on July 29

11:58 AM

MARKET CHECK :: Strength returns to Dalal Street