The domestic equity benchmarks hit fresh intraday high in morning trade. The Nifty hovered near the 16,300 mark. Oil & gas, metals and pharma were under pressure. Most Asian stocks edged higher.
At 10:23 IST, the barometer index, the S&P BSE Sensex, was up 244.54 points or 0.45% to 54,522.26. The Nifty 50 index added 59.75 points or 0.37% to 16,297.95.
In the broader market, the S&P BSE Mid-Cap index shed 0.30% while the S&P BSE Small-Cap index slipped 0.05%.
The market breadth was positive. On the BSE, 1662 shares rose and 1334 shares fell. A total of 146 shares were unchanged.
COVID-19 Update:
Also Read
Total COVID-19 confirmed cases worldwide stood at 202,692,385 with 4,293,914 global deaths.
India reported 402,188 active cases of COVID-19 infection and 428,309 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Johnson and Johnson's single-dose COVID-19 vaccine has been given approval for emergency use in India. Now India has five Emergency Use Authorization vaccines.
Mumbai Suburban local train services will be available for common man from 15th August. Maharashtra Chief Minister Uddhav Thackeray announced that those people who have completed 14 days after taking 2nd dose of covid vaccine will be allowed to commute via local trains.
Economy:
Prime Minister Narendra Modi will release the next instalment of financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on 9th August 2021 at 12:30 PM via video conferencing.
This will enable the transfer of an amount of more than Rs 19,500 crore to more than 9.75 crore beneficiary farmer families Under the PM-KISAN scheme, a financial benefit of Rs 6000 per year is provided to the eligible beneficiary farmer families, payable in three equal 4-monthly installments of Rs 2000 each. The fund is transferred directly to the bank accounts of the beneficiaries.
In this scheme, Samman Rashi of over Rs 1.38 lakh crore has been transferred to farmer families so far. Union Agriculture Minister will also be present on the occasion.
New Listing:
Shares of Rolex Rings were trading at Rs 1,157.70 apiece, at a premium of 28.63% as compared to the issue price of Rs 900 per share. The stock listed at price of Rs 1,249 per share, representing 38.78% premium to the issue price.
So far, the stock has hit a high of Rs 1,264.95 and a low of Rs 1139.50. Over 3.78 lakh shares of the company were traded in the counter till now on the BSE.
The initial public offer of automotive component maker Rolex Rings received bids for 74.15 crore shares as against 56.85 lakh shares on offer. The issue was subscribed 130.43 times. The issue opened for bidding on Wednesday (28 July 2021) and closed on Friday (30 July 2021).
Results Today:
Shree Cement (up 0.76%) will announce its quarterly earnings today.
AstraZeneca Pharma India (up 1.25%), MRF (up 0.68%), Clean Science and Technology (up 0.25%), Balrampur Chini Mills (down 1.05%), Gujarat State Petronet (down 2.48%), Tata Investment Corporation (up 4.56%), Bombay Dyeing & Mfg. Co (down 0.93%), Venky's (India) (down 0.09%), IFB Agro Industries (up 0.94%), Indian Hotels Co. (down 0.10%), Kirloskar Industries (down 0.51%), Subex (down 0.66%), Nilkamal (down 0.67%), Shankara Building Products (down 1.18%), Steel Exchange India (up 2.75%) and Suven Life Sciences (up 0.98%) will also announce their quarterly earnings today.
Earnings Impact:
Zee Entertainment Enterprises was up 0.08% to Rs 196.80. The company posted a consolidated net profit of Rs 213.8 crore in Q1 FY22, higher than net profit of Rs 30.37 crore in Q1 FY21. Net sales increased 35% to Rs 1775 crore in Q1 FY22 from Rs 1312 crore posted in Q1 FY21. While Advertising revenue soared 120% to Rs 926.61 crore, Subscription revenue increased by 9.2% to Rs 813 crore in Q1 FY22 over Q1 FY21.
Divi's Laboratories fell 1.34% to Rs 4850. The pharmaceutical major's consolidated net profit jumped 13.2% to Rs 557.11 crore on a 13.3% surge in net sales to Rs 1,960.64 crore in Q1 June 2021 over Q1 June 2020.
Sona BLW Precision Forgings jumped 7.25% to Rs 441.70. The auto ancillary company's consolidated net profit jumped 37.7% to Rs 82.23 crore on 7.1% decline in net sales to Rs 500.75 crore in Q1 FY22 over Q4 FY21. The company's net order book stood at Rs 14,000 crore as of 30 June 2021.
Tata Power Co. declined 1.85% to Rs 132.65. On a consolidated basis, the company's net profit surged 73.7% to Rs 465.69 crore on a 54.5% jump in net sales to Rs 9,968.03 crore in Q1 June 2021 over Q1 June 2020. The company's consolidated Q1 FY22 revenues grew mainly due to the acquisition of Odisha Discoms and higher sales/execution in its solar EPC businesses.
Dr Praveer Sinha, the managing director (MD) and chief executive officer (CEO) of Tata Power Co., said: We are happy to announce our re-entry into the development of greenfield Transmission Projects. Our partnership with the country's leading T&D EPC player 'Tata Projects' will make us a force to reckon with.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
