You are here: Home » Markets » News
Business Standard

Market Ahead, July 28: All you need to know before the opening bell

A total of 132 companies, including UltraTech Cement, Nestle India, and IDBI Bank, are scheduled to announce their results today

Topics
Market Ahead | Markets | Lockdown

BS Web Team  |  New Delhi 

The Indian equity are staring at a firm start today. At 7:10 AM, the was trading 75 points higher at 11,193 levels on the back of favourable global cues.

Wall Street’s main indexes closed higher overnight as investors weighed progress in US government stimulus efforts against rising Covid-19 cases The rose 0.43 per cent, the gained 0.74 per cent, and the Composite added 1.67 per cent.

Taking cues from the rally in Wall Street, Asian equities were trading firm in Tuesday's early deals. Hong Kong’s Hang Seng index was up 0.96 per cent, Japan’s Nikkei rose 0.33 per cent and Australian ASX 200 was up 0.94 per cent. Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.86 per cent.

In commodities, rose 0.88 per cent to $43.79 a barrel.

On the results front, investors will first react to IT services firm Tech Mahindra's numbers in which it reported Rs 972 crore in consolidated net profit for June quarter. The figure was 20.9 per cent higher sequentially although on a year-on-year basis it remained flat. Revenue stood at Rs 9,106 crore, up 5.2 per cent YoY, even as it declined 4 per cent sequentially.

Besides, a total of 132 companies, including UltraTech Cement, Nestle India, and IDBI Bank, are scheduled to announce their results today.

Meanwhile, India recorded 50,525 cases in just 24 hours, according to Worldometer. The total Covid tally in India now stands at 14.82 lakh, including 33,448 deaths.

ITC might trade actively in today's session after it announced the acquisition of spices manufacturer Sunrise Foods Private Ltd in an all-cash deal valued at Rs 2,150 crore. According to the company, it has acquired shares of SFPL at an "upfront consideration of Rs 2,150 crores on a cash-free, debt-free basis".

And, now a quick look at other top of the day.

After banning 59 mobile apps, including TikTok, almost a month ago, the Indian government has again cracked down on 47 more 'Chinese-origin' mobile apps with most being clones or lite variants of the ones earlier banned.

The government is working on completing the stake sale process of about 23 public sector companies whose divestment has already been cleared by the Cabinet, Finance Minister said yesterday. She said the government wants to sell stake in public sector companies at a time when it fetches the right price.

15th Finance Commission Chairman NK Singh yesterday said that India will see a sharp V-shaped recovery in the third and fourth quarter of the current fiscal, but FY21 would ultimately be in negative territory as the led to serious demand and supply dislocations.

The Centre has revealed that it released around Rs 14,000 crore to states as compensation for their losses due to the GST for March 2020. This takes the total compensation released for FY20 to Rs 1.65 trillion, against a cess collection of Rs 95,444 crore for this purpose.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, July 28 2020. 07:02 IST
RECOMMENDED FOR YOU
.