After frontline indices rallied 9 per cent each in the last one month, analysts believe that the strong foreign inflows after nine months of relentless selling brought upswing to the markets.
CLOSING BELL: M&M (up 6 per cent) was the top Sensex gainer, followed by RIL, Maruti Suzuki, Bharti Airtel, Power Grid, Kotak Bank, Ultratech Cement, ITC, NTPC, SBI, Axis Bank, and Titan
This comes after airline regulator Director General of Civil Aviation (DCGA) curtailed flight operations to only 50 per cent for eight weeks
Eight of the top 10 valued firms added Rs 1,91,622.95 crore to their market valuation last week, with Bajaj Finance and Tata Consultancy Services emerging as lead gainers
FPIs buy shares worth Rs 6,300 crore, first net inflow since Sept 2021
Among Sensex constituents, Tata Steel, Sun Pharma, Bajaj Finserv, IndusInd Bank, Infosys, Asian Paints, Reliance Industries and Bajaj Finance were the biggest gainer
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
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.
Four-fifths of the Sensex constituents ended with gains. Bajaj Finance rose 10.7 per cent and was the best-performing index stock
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
Analysts believe that the US Fed's confidence about strong labor markets and dismissal of recession brought respite to the investors
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.
However, gains were capped as investors remained in wait and watch mode
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.
Analysts at Jefferies said the stock makes a great case for long term investors to buy, while JPMorgan said the company could also see a decrease in cash burn rates
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.