Tag: Top stocks

Sensex, Nifty shed early gains after fresh highs; Symphony tanks

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market started on a positive note on Wednesday as the benchmark indexes touched new highs, with the Sensex opening higher by 69.82 points at 36,928.06 and the Nifty 50 climbing 12.9 points at 11,147.20.

However, the index soon pared early gains with the Sensex dropping to 36,877.71 and the Nifty slipping to 11,138.15.

Metal stocks performed well, extending their rally from the previous sessions, whereas a strong start in the midcaps was also helping the sentiment.

Asian Paints was trading more than 2.5 percent lower after the release of its June quarter results. Shares of oil marketing companies as well as the IT sector were hit on the back of rising crude oil price and weak rupee.

Shares of Symphony touched 52-week low of Rs 1,132.20, down 19 percent in the opening trade on Wednesday after weak June quarter results. The company’s Q1FY19 net profit fell 49 percent to Rs 20 crore versus Rs 39 crore in the same quarter last fiscal. Bajaj group financial stocks were performing well.

Nifty Metal gained 1.29 percent among sectoral indices, while FMCG, IT, Realty traded lower. PSUs traded in the positive zone. BSE IT and Teck too were down, while BSE Bankex and metal traded positive.

Catch all the action and updates in our Market Live blog

The Indian rupee opened at 68.96 against the US dollar on Wednesday.

In Asia, Japan’s Nikkei was up by half a percent, while Hong Kong’s Hang Seng was trading 230 points higher.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stocks to watch out for today: L&T, Hero MotoCorp, Bharti Infratel, ICICI Bank and more in focus

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market is expected to open positive on Wednesday on strong global cues, a day after the benchmark indexes closed at record highs. The Sensex closed up 106.50 points at 36825.10, while the Nifty was up 49.50 points at 11134.30 on Tuesday.

Check out the companies that are making headlines before the opening bell:

June corporate earnings: L&T, Ambuja Cements, Hero Moto, JSW Steel, BHEL, Bharti Infratel, Canara Bank, etc., will announce their first quarter results.

ICICI Bank: Sandeep Batra of ICICI Prudential Life joined ICICI Bank as President-Corporate Centre. He will directly report to Sandeep Bakshi, COO of ICICI Bank. In a separate development, the bank will acquire Arthashastra Fintech for Rs 8.3 crore.

Symphony: Q1 profit fell 49 percent to Rs 20 crore versus Rs 39 crore; revenue slipped 23.2 percent to Rs 146 crore versus Rs 190 crore (YoY).

Lakshmi Vilas Bank: Brickwork Ratings India revised the rating from A- to BBB+ for unsecured redeemable non-convertible subordinated lower Tier II bonds – Series VII (Option B) of Rs 50.50 crore, Moneycontrol reported.

Jindal Steel & Power: CNBC-TV18 reported that the company was likely to get 20 percent of the 4.87 lakh tonne bid, being the lone bidder for global rail tender floated by Indian railways.

Oil India: The company has signed a joint venture agreement at Guwahati in connection with formation of a JV company for construction of north-east gas grid pipeline in the eight north-eastern states, viz. Assam, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Tripura and Sikkim. The proposed JV company will have equal equity contribution from all the five PSU JV partners.

Bharat Electronics: The government will divest 5 percent in the company out of its 66.79 percent shareholding.

Andhra Bank: The bank has received capital infusion of Rs 2,019 crore towards contribution of the central government in the preferential allotment of equity shares.

NTPC: CNBC-TV18 reported that the government is looking to sell its stake in NHPC to the company. The government currently holds around 73 percent stake in NHPC.

Asian Paints: Q1 consolidated profit rose 30 percent to Rs 571.3 crore versus Rs 440.7 crore; revenue jumped 15.1 percent to Rs 4,390 crore versus Rs 3,815.3 crore (YoY).

ICICI Prudential Life Insurance: Q1 profit fell 30.5 percent to Rs 282 crore versus Rs 406 crore; net premium income increased 12.8 percent to Rs 5,438 crore versus Rs 4,820 crore (YoY).

Hexaware: Q2 consolidated profit rose 14 percent to Rs 154 crore versus Rs 134.3 crore; revenue increased 8.4 percent to Rs 1,136.7 crore versus Rs 1,049 crore (QoQ).

Read also: These are the 10 things you need to know before the opening bell

Also, catch all the action and updates in our Market Live blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

July 23: Here are the top 10 stocks that trended today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets ended on a bullish note on Monday, giving a solid start to the week, with gains posted on the back of bank, metal, FMCG shares, while IT and auto stocks underperformed. MidCaps also helped in the rally with late surge.

Here are the top 10 stocks that trended today:

ITC: Can easily be called the stock of the day as it lifted overall sentiments in the morning and noon trade. It contributed almost over 80 percent to the Nifty gains, which kept the broader index in the green. ITC trades at a 35 percent discount to FMCG peers like Hindustan Unilever ltd. At end, ITC shares traded at Rs 283.95, rising by 3.63 percent on the NSE.

South Indian Bank: Shares plunged 18 percent amid investors worry over a fall in its net profit. The stock touched an intraday high of Rs 20.60 and an intraday low of Rs 18.45. At end, it was at Rs 18.60, down by 17.15 percent on the BSE.

Bata India: Shares ended at Rs 900.90, rising nearly 7 percent on the BSE after the footwear retailer posted a posted a 36.6 percent jump in Q1 profit on Friday. Bata stock marks its biggest intraday percent gain since April 2016. More than 5.3 million shares traded, compared with the 30-day average of about 1.2 million shares. Intraday, the stock ranged between Rs 905.40 and Rs 856, after opening at Rs 877.70.

Havells India: Shares closed at Rs 610.60, jumping 9.13 percent. It touched a record high of Rs 614.70 after posting a 73 percent jump in June-quarter net profit on Friday, beating analysts’ estimates.

HDFC Bank: Shares of India’s biggest lender by market-cap HDFC Bank fell as much as 2.3 percent to Rs 2138.1 after June results miss Street expectations. At close, HDFC Bank share traded at Rs 2157.75. Intraday, it touched a high of Rs 2177.70 on the BSE.

SpiceJet: Shares of the aviation company settled at Rs 109.70, before rising as much as 9.5 percent to Rs 114.8, their highest in a week. The stock was down 28.2 percent this year but made sharpest intraday percent jump in seven weeks.

UPL:  The agro-chemical company’s shares rose 15 percent to Rs 631.65, posting biggest intraday gains in eight years after the Arysta acquisition. It touched an intraday high of Rs 639.65 on the BSE.

Hero MotoCorp, Bajaj Auto: Shares of rival two-wheeler company’s declined 6.58 and 5.34 percent on the NSE respectively after the later announced its plans to pursue market share at the cost of margins.

Asian Paints: Shares ended at Rs 1433.70, before touching an intraday high of Rs 1465.10, or rising by over 5 percent after the GST Council slashed tax rates.

Wipro: Shares of IT firm slipped as much 7 percent in morning trade on Monday after it signaled a flattish guidance for the next quarter. Wipro hit an intraday low of Rs 263.35 in the first 15 minutes of trade which is close to its 52-week low of Rs 253.50. It finally settled at Rs 276.05, down by 2.47 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

GST rate cut impact: Paint companies trade higher, Asian Paints gains 5%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of Indian paint companies climbed up on Monday after the GST council on Saturday lowered indirect tax slab on paints to 18 percent from the existing 28 percent.

Asian Paints gained by 5 percent at Rs 1,464.4, followed by Akzo Nobel up by 2.3 percent, while Nerolac and Berger Paints gained 1 percent and 0.3 percent respectively.

Kotak’s Rohit Chordia said that rate cut could boost the paint companies’ earnings. The brokerage has raised earnings per share of Asian Paints by 7 to 13 percent for financial year 2019 to 2021.

The GST council slashed tax rates on a number of products, ranging from paints, white goods to footwears.

HM Bharuka, vice chairman and managing director of Kansai Nerolac said that it was the company’s duty to pass the GST cut benefit to its customers.

“Overall EBITDA level of paint companies is very good and I don’t think we should become greedy and we should pass it on entirely to customers,” he said.

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(With inputs from Reuters)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex at record close, Nifty at highest level since budget day pulled by bank shares

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian benchmark indexes rebounded in the last hour of trading lifted by sustained buying in bank, FMCG, metal and financial shares. The Sensex ended at 36,719, rising by 222 points, or 0.61 percent, while the Nifty settled at 11084, gaining by 74.55 points, or 0.68 percent. Almost all sectoral indices gained except IT and to some extent auto.

(Market update as of 3.40 pm)

Indian markets rebounded in the last hour of trade, lifted by sustained buying in bank and metal shares, well-supported by FMCG stocks, particularly ITC and Hinudstan Unilever. The Sensex jumped over 226 points, or 0.62 percent, to 36,722.84, while the Nifty surged to 5-month high at 11,084.20, adding 74 points, or 0.67 percent. The Sensex later crossed to a new record high, while the Nifty also trades at highest level since budget day of February 1 this year.

(Market update as of 3.15 pm)

Indian markets trade range-bound in the afternoon trade on Monday. The Sensex added 121 points, or 0.33 percent, to rise to 36,618.27, while the Nifty was higher by 41 points, or 0.37 percent, to 11,050.

(Market update as of 2 pm)

Here’s how the markets fared around noon

The Indian market turned range-bound with a positive bias as sustained buying was seen in FMCG, telecom and NBFCs.

A bigger rally, however, has not been seen due to index heavyweight like HDFC Bank underperforming along with auto and IT shares.

The Sensex was trading at 36,580.90, gaining 85 points, while the Nifty was below 11,050 level, up by 33 points. The Sensex opened at 36,501 and has touched an intra-day high of 36,630 so far.

The indexes have largely been lifted by ITC, and well-supported by Hindustan Unilever, Asian Paints, Bharti Airtel, and Bajaj group finance stocks. However, the indexes were dragged due to midcap trading below potential.

HDFC Bank was trading in the red after Q1 results were below expectations on a certain parameters.

The stocks of the day mostly included those benefited from the GST council slashing rate on a list of 52 items ranging from paints to footwear to sanitary napkins. Shares of Havells, Bata, Liberty Shoes rallied higher.

Another gainer was UPL as the agro-chemical company announced a $4.3 billion deal with Arysta Lifesciences.

Among sectoral indices, FMGC, financial stocks were trading higher, while auto, metal, IT were trading lower.

Asian markets were trading mixed after the Bank of Japan offered to buy bonds at the first fixed-rate operation since February.

Japan’s Nikkei was down 1.27 percent, Hong Kong’s Hang Seng shed 0.09 percent in early trade today, while Shanghai Composite edged 0.37 per cent higher.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stocks to watch out for on July 20: Wipro, Bajaj Auto, HDFC life, IT, OMC shares in focus today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market is likely to remain in check over weak global cues and as the Narendra Modi government faces a no-trust vote on Friday. The Sensex closed at 36,351.23, down 22.21 points on Thursday, while the NSE Nifty 50 too ended 23.35 points lower at 10,957.10.

Here is the list of top stocks to watch out for:

June quarter results: Wipro, Bajaj Auto, HDFC Standard Life insurance, L&T Finance Holdings, Bajaj Holding, Bata India, Ceat, Havells India, Just Dial, Kansai Nerolac, Hathway Cable, Atul, MCX, Nelco, Sanwaria Consumer, Zee Media Corporation, will declare their first quarter earnings report.

IT, OMC stocks: The rupee hit a new closing low of 69.05 per dollar, posting the biggest single session loss against the greenback since May 29. A higher rupee lifted IT stocks, while adversely affecting the stocks of oil marketing companies.

Bajaj Finserv: The consumer finance company reported 41 percent rise in consolidated profit in June quarter, which rose to Rs 825 crore. The revenue increased 39 percent at Rs 3,943.6 crore versus Rs 2,839 crore a year before.

Consumer, dairy, logistics stocks: Millions of truckers from across the country are set to go on an indefinite strike from today, demanding a slew of actions from government, including lowering diesel prices and toll fees, PTI reported.

Hatsun Agro: The company has proposed to set up a dairy manufacturing plant in Maharashtra. It also reported Q1 earnings with profit rising to Rs 37.85 crore and a revenue increase to Rs 1,235.67 crore versus Rs 1,168.73 crore (YoY).

Aditya Birla Money: Q1 profit rose to Rs 2.02 crore versus Rs 1.27 crore; revenue increased Rs 42.14 crore versus Rs 35.90 crore (YoY).

JSW Steel: NCLT approved JSW Steel-AION’s resolution plan for Monnet Ispat with some modifications.

ABB India: Q2 profit rose 35.8 percent at Rs 102.1 crore versus Rs 75.1 crore; revenue increased 21.5 percent at Rs 2,713 crore versus Rs 2,233 crore (YoY).

Hindalco: The aluminium and copper manufacturing company said no proposal to acquire Aleris has been considered by the board.

Aurobindo Pharma: The pharma company got the US FDA nod for Gastro-intestinal Drug, Ranitidine Capsule (150-300 mg).

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stocks to watch out for on July 19: Sugar, realty, Kotak Mahindra in focus

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market is expected to start positive on mixed global cues on Thursday. The Sensex and the Nifty 50 ended lower yesterday with the 30-share BSE index ending 146 points lower after a record rally in the day.

Here are the top stocks to watch out for today:

Aviation stocks: The civil aviation ministry on Wednesday said it has started work on another version of regional air connectivity scheme for tourist destinations. As many as 56 unserved and 17 under-served airports and 31 heliports would be connected under the scheme, minister of state for civil aviation Jayant Sinha said in a written reply to the Rajya Sabha.

Sugar stocks: CCEA approved Fair & Remunerative Price for 2018-19 sugar season payable by sugar mills at Rs 275/- per quintal for a basic recovery rate of 10 percent for sugar.

Realty stocks: Union minister Piyush Goyal will hold a meeting with top banks, HFCs, NBCCs to discuss critical issues and possible measures to boost real estate sector today.

June quarter results: Kotak Mahindra Bank, Bajaj Finance, Bajaj Finserv, ABB India, AB Money, DB Corp, Hatsun Agro, RBL Bank, Sagar Cement, Sterlite Technologies, Menon Bearing, GNA Axles, Omax Auto, Shree digvijay Cement, Vikas Eco, VLS Finance.

Jaiprakash Associates: Rakesh Jhunjhunwala has raised his stake to 1.98 percent during the June quarter on a fully diluted basis.

Fortis Healthcare: The Delhi high court has refused to stay finalisation of Fortis-IHH deal.

JK Tyre: The company reported a profit of Rs 64.1 crore in the June quarter against a loss of Rs 108 crore during the previous year.

Tata Motors: The domestic automobile company will be supplying Tigor electric vehicle to Cognizant.

Cadila Healthcare: The pharma company seeks shareholder nod to offer securities up to Rs 10,000 crore via private placement or QIP.

GHCL: The company reported a profit after tax (PAT) of Rs 62 crore for the quarter ended in June.

Indian Bank: The lender has raised MCLR by up to 0.10 percent from July 20.

Mindtree: Its Q1 net profit is down 13 percent sequentially at Rs 158 crore.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

July 18: Here’s a list of top 10 stocks of the day after closing bell

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets ended on a weaker note on Wednesday after opening higher in initial trade, losing steam in the afternoon trade over political developments and sustained selling in metal, auto, telecom stocks. The Sensex closed at 36,373, while the Nifty settled at 10,980.

Here is a list of top 10 stocks of the day after closing bell:

ONGC: The public sector behemoth’s shares closed at Rs 160.30, rising by 2.69 percent on the BSE. Intra-day, the stock touched a high of Rs 164.65.

Tata Steel: Tata Steel dipped over 5 percent to Rs 504.70, losing Rs 27.80. The scrip opened at Rs 537.70 and ranged between a high of Rs 537.70 to a low of Rs 501.15.

OMCs: Shares of HPCL, IOC and BPCL were among top gainers on the NSE after fall in crude oil prices. HPCL ended at Rs 286.05 (up 1.69 percent), IOC at Rs 166.75 (up by 1.65 percent), BPCL at Rs 401.90 (up 2.19 percent).

Bandhan Bank: Surged over 7 percent to Rs 600.15, adding Rs 38.15, on the BSE after the lender reported a net profit at Rs 481.7 crore vs 326.6 crore (YoY). The stock opened at Rs 566.90 and ranged between a high of Rs 607.55 and a low of Rs 565.

UltraTech Cement: The company’s share ended at Rs 3,852.55, falling by 1.26 percent, or a loss of Rs 49.10. The cement major posted a standalone net profit of Rs 598 crore in its Q1 results today.

HDFC twins: HDFC twins, HDFC and HDFC Bank, hit 52-week high in a weak market today. HDFC Bank ranged between a high of Rs 2219 and a low of Rs 2173.90, after opening at Rs 2181.60. It closed at Rs 2176.05, losing 0.03 percent. HDFC surged 0.91 percent at close, rising to Rs 2008.25, adding Rs 18.20.

Ashok Leyland: Fell sharply by 14.01 percent, or Rs 18, to Rs 110.50 after brokerages revised share’s rating. New load carrying rules for trucks and heavy commercial vehicles weigh on the minds of investors tracking the stock. It settled at Rs 110.60, losing Rs 17.90 or 13.93 percent.

Idea Cellular: Shares fell almost 8 percent during the day after reports that Idea and Vodafone are likely to pay Rs 7,268 crore spectrum dues to the department of telecommunications (DoT). It ranged between Rs 52.90 and Rs 48.40 after opening at Rs 52.65, finally settling at Rs 50, declining by 4.67 percent.

Bharti Airtel: The telecom major continued its losing streak and ended lower at Rs 336.80, losing Rs 5.45 or 1.59 percent. Over 56 lakh shares of Bharti Airtel changed hands on the BSE today.

Zee Entertainment: Shares closed at Rs 521, gaining 0.72 percent a day after the media company reported 31 percent jump in its Q1FY19 net profit at Rs 325.88 crore against Rs 248.25 crore in the same quarter last fiscal.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex, Nifty turn negative, under-performing midcaps, sectoral indices pull indexes lower

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets turned bearish in the early afternoon trade on Wednesday, retreating sharply from the day’s high, dragged lower by under-performing midcaps,  sectoral indices and political developments.

The benchmark indexes were also under pressure after sustained selling in auto, metal, and telecom stocks. That the Lok Sabha Speaker Sumitra Mahajan has accepted the Telugu Desam Party’s (TDP) no-confidence motion against the Narendra Modi government hasn’t helped investor sentiment.

At 1 pm, the Sensex traded at 36,478.91, lower by 41.05, or 0.11 percent. So far, the Sensex has ranged between 36,747.87 and 36,320.92, after opening at 36,722. The NSE Nifty regained the 11,000 level at 1 pm, with the 50-share broader index trading at 11,006.35, lower by 1.70 points, or down by 0.02.

Among sectoral indices, BSE Metal, Realty, Telecom, have seen maximum decline. Nifty PSU Bank is lower by half a percent.

(Market update as of 1 pm)

Here’s how the markets have performed so far

Indian markets held on to gains after a strong start on Wednesday, building on Tuesday’s rally and boosted by a stronger rupee, reduced crude oil prices and sustained buying by domestic institutional investors.

Global cues are also positive with most Asian markets trading higher with the exception of Hong Kong’s Hang Seng. Wall Street also posted gains overnight.

Earlier, the Sensex catapulted over 200 points to register a new high of 36,747.87 in early trade, buoyed by gains in oil and gas, bank, realty and entertainment shares.

The 30-share S&P BSE index jumped by 227.91 points, or 0.62 percent, to hit a new high of 36,747.87, surpassing its previous record of 36,740.07 recorded on July 13.

At 11.35 am, the Sensex traded at 36,643.65, or 123 points higher, or by 0.34 percent. The BSE index had gained 196.19 points in the previous close. The Nifty trades hovers around 11,050 level, at 11,057.25, or up by 49.20 points, or 0.45 percent.

Major gainers include Adani Ports, HDFC twins, Sun Pharma, ONGC, Coal India, Asian Paint, Wipro, Bajaj Auto, Hero MotoCorp, Maruti Suzuki, Infosys, PowerGrid, L&T, RIL and TCS, rising up to 1.65 percent.

Top losers included Bharti Airtel, Tata Steel, Tata Motors, Vedanta, Hindustan Unilever, Idea Cellular, Hindalco. Midcaps on both indexes are trading lower by up to 0.7 percent.

BSE Sectoral indices led by oil & gas, capital goods, energy have gained up to 1.52 percent. Telecom and metal are the biggest losers with 2.20 percent and 1.81 percent respectively.

Nifty Metal and PSU Bank are down by 1.75 percent and 1.23 percent respectively.

Domestic institutional investors (DIIs) bought shares worth a net of Rs 840.06 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 673.99 crore yesterday, PTI reported.

Track latest market updates with CNBC-TV18’s live blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stocks to watch out for on July 18: UltraTech Cement, Ashok Leyland, PNB

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets are expected to start on a positive note on Wednesday, after Tuesday’s broad-based gains. The broader NSE Nifty closed 0.65 percent higher at 11,008.05 on Tuesday, while the benchmark BSE Sensex rose 0.54 percent to 36,519.96.

Here are the top stocks to watch out for:

June quarter results: Ultratech Cement, Bandhan Bank, Mindtree, NIIT Technologies, JM Financial, Mastek, GHCL, Mahindra CIE Auto, Reliance Communications, Sasken Tech, Responsive Industries, JK Tyre & Industries, Foseco India, HT media, Artson Engineering are expected to declare their Q1 results today.

PSU Bank: The Modi government has announced an infusion of Rs 11,336 crore in five public sector banks – PNB, Indian Overseas Bank, Andhra Bank, Corporation Bank and Allahabad Bank. Of the Rs 11,336 crore, Rs 2,816 crore will be infused in PNB, Rs 2,157 crore in IOB, Rs 2,019 crore in Andhra Bank, Rs 2,555 in Corporation Bank, and Rs 1,790 crore in Allahabad Bank.

Dairy stocks: The government has decided to give 10 percent dairy export incentive to states, said union minister Piyush Goyal on Tuesday. Maharashtra, Gujarat governments have supported the idea of export incentive, he said, while adding that the agriculture ministry has also requested railways to make milk available at train stations. Another round of meeting is scheduled today in this regard. Following Goyal’s comment, shares of Parag Milk, Prabhat dairy spiked.

Aviation stocks: Motilal Oswal says aviation stocks will face crude headwinds in near term. The brokerage expects petro product price de-control to continue as long as crude is below $100.

Federal Bank: The stock surged nearly 19 percent on Tuesday after the bank declared its Q1 results.

HDFC Bank, HDFC: The bank will issue 3.91 crore shares to HDFC via preferential allotment at Rs 2,174.09 per share. Also, the HDFC asset management company will open its initial public offering for subscription on July 25 and close on July 27. Price band is fixed at Rs 1,095 to Rs 1,100 per share.

Zee Entertainment: The media firm on Tuesday reported a 31.27 percent rise in its consolidated net profit at Rs 325.88 crore for the quarter ended June 30. The company had posted a net profit of Rs 248.25 crore during the same period a year ago.

Ashok Leyland: Hinduja Group flagship company, Ashok Leyland, on Tuesday posted 232.6 percent increase in its profit at Rs 370 crore for the first quarter ended June 31, 2018.

Sintex Industries: Q1 consolidated profit was up 11.5 percent at Rs 39.1 crore versus Rs 35.1 crore, while revenue was up 34.6 percent at Rs 925.3 crore versus Rs 687.6 crore (YoY), Moneycontrol reported.

ICICI Lombard: Private sector non-life insurer ICICI Lombard General Insurance posted a 35 percent increase in June quarter net profit at Rs 289.29 crore on account of lower combined ratio and higher premiums, Moneycontrol reported.

Sugar stocks: Stocks in India are likely to more than double by the end of the current marketing year as the world’s biggest producer of the sweetener struggles to export a surplus, said the Indian Sugar Mills Association.

HUL: The FMCG fell as much as 2.9 percent to Rs 1,701 in its biggest intraday percent fall since May 2, as brokerages revised their ratings after Q1 results.

Steel stocks: India is planning to impose “safeguards” on steel imports if the volumes coming into the country increase beyond a certain level, Reuters quoted a government source as saying in New Delhi on Tuesday.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow