The bullishness stems from a positive long-term outlook for automakers
FPIs buy shares worth Rs 6,300 crore, first net inflow since Sept 2021
Analysts expect the Gurgaon-based firm's net loss to contract to Rs 315 crore in Q1FY23 from Rs 360.7 crore in the year-ago period.
CLOSING BELL: Public sector banks were the only losers with the Nifty PSB index down 1.2 per cent
Live news updates: A bench comprising Justices D Y Chandrachud, Surya Kant, and Vikram Nath said there was no merit in the review petition
Stocks to watch today: HDFC, Sun Pharma, and Cipla will report their June quarter results on Friday, July 29; Dr Reddy's saw 108 per cent YoY rise in consolidated net profit to Rs 1,187.6 crore in Q1.
CLOSING BELL: Tata Steel, Kotak Bank, IndusInd Bank, Nestle, Infosys, Asian Paints, and Tech M were the other outperformers, up between 3 per cent and 4.6 per cent
In the past three trading sessions, the stock has gained 16 per cent after the company announced their plan for stock split and bonus issue.
Stocks to watch today: Dr Reddy's, Bajaj Finserv, Nestle India will report their June quarter results on Thursday, July 28; HAL signed $100 million contract with Honeywell for HTT-40 engines.
Stock market live updates: As of 7:45 AM, the SGX Nifty Futures quoted at 16,475 levels, indicating a downside of 8 odd-points on the Nifty50.
The company aims at capacity expansion and increased infrastructure and facilities to meet growth in demand.
Analysts believe that the company's strong order book position at Rs 363,448 crore suggests good revenue visibility in the coming years.
Stocks to watch today: Bajaj Finance, Tata Motors, and Maruti Suzuki will report their June quarter results on Wednesday, July 27; United Spirits reported five-fold jump in net profit in Q1FY23.
CLOSING BELL: Equity markets settled near the low point of the day as investors chose to stay on the sidelines ahead of the US Federal Reserve's monetary policy outcome on Wednesday
Bajaj Auto Q1 review: Auto major Bajaj Auto clocked 8.3 per cent rise year-on-year (YoY) in total revenue from operations to Rs 8,004.97 crore in June quarter results (Q1FY23) on a standalone basis.
On April 10, 2022, the board had approved rights issue in the ratio of 2 rights equity shares for every 1 equity share as on record date at a price of Rs 10 per share.
Analysts, on average, expect the revenue to fall up to 7 per cent quarter-on-quarter (QoQ) to Rs 7,416 crore in Q1FY23.
Stocks to watch today: Asian Paints, Bajaj Auto will report their June quarter results (Q1FY23) on Tuesday, July 26; Lupin received approval from USFDA to market medication for high blood pressure.
Going ahead, brokerages believe that the margin headwinds like travel costs, wage inflation will continue to persist in Q2FY23 as well.
CLOSING BELL: Among sectors, the Nifty Auto fell 1.7 per cent, while the Nifty Metal added 1.5 per cent