Page 385 - Markets
Markets to focus on Q1 earnings, RBI interest rate this week: Analysts
The RBI interest rate decision, industrial production data for June and the ongoing quarterly earnings from corporates would largely drive the stock markets this week, analysts said. Other major factors such as global market trends, the movement of oil prices and the trading activity of foreign investors would also influence trading, they added. "The market will have an eye on the RBI Monetary Policy Committee (MPC) meeting, which will be announced on August 10, 2023. We are heading towards the last batch of Q2 earnings of key companies such as Adani Ports, Coal India, Hero MotoCorp, Hindalco and ONGC, among others, which will lead to stock-specific movement," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. On the macro front, market participants will be closely observing key events like industrial production and manufacturing production data, which will be released on August 11, Gour said. Trend in global stock markets, movement of the dollar index, the rupee
 "Markets to focus on Q1 earnings, RBI interest rate this week: Analysts")
Laptop import curbs lift EMS stocks but analysts warn of jumping the gun
In the June quarter, electronics became India's fourth-largest exported item overtaking chemicals, drugs and pharmaceuticals. This surge was led by mobile phones aided by 2020 PLI scheme
 "Laptop import curbs lift EMS stocks but analysts warn of jumping the gun")
SBFC IPO subscribed 6.3x on day 2, Concord Biotech IPO over half covered
At the top end, SBFC will be valued at Rs 6,066 crore on a post-dilution basis
 "SBFC IPO subscribed 6.3x on day 2, Concord Biotech IPO over half covered")
At 2.9 mn, new demat account additions hit 18-month high in July
10 IPOs with a prospective fund raise of Rs 8,000 cr will decide August trajectory
 "At 2.9 mn, new demat account additions hit 18-month high in July")
After a solid Q1, IndiGo's troubles may mount in Q2FY24, warn analysts
IndiGo's profitability may be affected in the July to September quarter (Q2) of FY24 owing to lower fares in a seasonally weak quarter and higher fuel prices, analysts said
 "After a solid Q1, IndiGo's troubles may mount in Q2FY24, warn analysts")
SBI Q1FY24 result: Profit more-than-doubles to Rs 16,884 cr, NII up 25% YoY
India's largest state-owned bank clocked a NII of Rs 38,905 crore
 "SBI Q1FY24 result: Profit more-than-doubles to Rs 16,884 cr, NII up 25% YoY")
Vardhman Textiles Q1FY24 result: Net profit falls 58% YoY to Rs 136 crore
The total income for Q1FY24 came in at Rs 2,412.57 crore, compared to Rs 2,831.79 crore YoY, falling 14.8 per cent
 "Vardhman Textiles Q1FY24 result: Net profit falls 58% YoY to Rs 136 crore")
M&M Ltd Q1FY24 result: Consolidated net profit up 56% YoY to Rs 3,683 cr
The revenue from operations for Q1FY24 came in at Rs 33,406.44 crore, compared to Rs 28,412.38 crore year-on-year
 "M&M Ltd Q1FY24 result: Consolidated net profit up 56% YoY to Rs 3,683 cr")
Bank of Baroda to report Q1FY24 results on Aug 5; here's what to expect
Bank of Baroda Q1FY24 results preview: Analysts expect growth in personal loan book to remain robust, taking the total loan book to Rs 9.61 trillion
 "Bank of Baroda to report Q1FY24 results on Aug 5; here's what to expect")
Dabur India Q1FY24 results: Consolidated net profit up 3.5% to Rs 456 cr
The total income for Q1FY24 came in at Rs 3,240.25 crore, compared to Rs 2,922.98 crore year-on-year
Paytm up 4% as loan disbursements more-than-double in July to Rs 5,194 cr
During the month of July, Paytm catered to 93 million average monthly transacting users (MTU), up 19 per cent year-on-year (YoY)
 "Paytm up 4% as loan disbursements more-than-double in July to Rs 5,194 cr")
Jhunjhunwala-backed Concord Biotech IPO opens today: What do analysts say?
Concord Biotech IPO: The stock is commanding a 20 per cent premium in the grey market, as per ipowatch.com
 "Jhunjhunwala-backed Concord Biotech IPO opens today: What do analysts say?")
Dabur soars 7%, nears 52-week high as Q1 results boasts of rural recovery
According to the management, with a little negative impact from beverage portfolio, mid-single volume growth should be possible in the near term in the India business
 "Dabur soars 7%, nears 52-week high as Q1 results boasts of rural recovery")
Stocks to Watch on Aug 4: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL
Stocks to Watch today, August 4: 2023: Food aggregator platform Zomato turned profitable for the first time ever in Q1FY24
 "Stocks to Watch on Aug 4: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL")
Nifty Realty may see profit booking; Buy Nifty Infra at support of 5,864
The best trading strategy for Nifty Realty would be to exercise patience and wait for the index to undergo a corrective phase, says Ravi Nathani
 "Nifty Realty may see profit booking; Buy Nifty Infra at support of 5,864")
IndusInd Bank: Adopt a bear spread strategy for the August expiry
Short build up seen in Indusind bank Futures on Thursday, with a 2 per cent addition in Open Interest (Prov) and price falling 1.21 per cent: HDFC Securities
 "IndusInd Bank: Adopt a bear spread strategy for the August expiry")
New era of Indian equity outperformance is dawning: Morgan Stanley
In India, Morgan Stanley believes, the situation is in stark contrast to that in China. India, it said, is arguably at the start of a long wave boom
 "New era of Indian equity outperformance is dawning: Morgan Stanley")
Nerolac Paints Q1FY24 result: Consolidated net profit up 382% to Rs 734 cr
The total income for Q1FY24 came in at Rs 2,174 crore, compared to Rs 2,056.20 crore year-on-year
Eicher Motors Q1FY24 result: Consolidated net profit up 50% to Rs 918 cr
The revenue from operations for Q1FY24 came in at Rs 3,986.37 crore, compared to Rs 3,397.46 crore year-on-year
Cummins India Q1FY24 result: Consolidated net profit up 78% to Rs 353 cr
The revenue from operations for Q1FY24 came in at Rs 2,218.25 crore, compared to Rs 1,695.92 crore year-on-year