Nifty gains on Tuesday were capped below 0.2% after selling in broader markets forced Nifty to end below its opening levels. With the advance-decline ratio falling to 1:5, the Nifty Midcap 100 index witnessed maximum selling and is 0.5% away from a short-term breakdown. For Nifty, the crucial range stands between 16080 and 16350 with bias remaining negative. Results today- Cadila Healthcare, Bajaj Electricals, Bata India, Cummins India, VA Tech Wabag.
U.S indices inched to record highs on Tuesday, buoyed by gains in economically sensitive value stocks after the Senate passed a $1 trillion bipartisan infrastructure package. The Dow Jones Industrial Average rose 172.17 points, or 0.49%, to 35,274.02, the S&P 500 gained 6.56 points, or 0.15%, to 4,438.91 and the Nasdaq Composite dropped 73.34 points, or 0.49%, to 14,786.84.
Stocks to watch
- Godrej Agrovet 1Q net income +20% YoY to 1.06b rupees, est. 1.15b
- IRB Infrastructure 1Q net income 719.1m rupees vs. loss 301.4m YoY, beats est. 224.8m; revenue +60% y/y to 16.3b
- Power Grid 1Q net income 60.9b rupees vs. 19.79b YoY, beats est. 31b; revenue +9% y/y to 97.8b; 1Q has Rs 31.7b profit on sale of PGInvIT units
- SBI Life Insurance Liable to Refund Money With Interest on Some Policies
- Siemens India Net income 1.62b rupees vs. loss 46.0m rupees YoY, est. 2b
- Trent 1Q net loss 837.6m rupees, est. loss 902m; revenue 3.27b, beats est. 3.05b
- Zomato 1Q net loss of 3.56b rupees vs. loss 1.31b QoQ, adj. revenue 11.6b rupees, +26% QoQ
- Capacit’e Infraprojects Orderbook at INR88.71b as of June 30
- GMR Infrastructure To consider raising funds in Aug. 13 meeting
- India Automobile Group Siam Seeks Clarity on Equalization Tax
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