Markets witnessed divergent trade in broader indices with Nifty inching further higher to close above 16250 while midcap and small cap index formed bearish dark cloud cover on candlestick charts. A bearish dark cloud after an extended rally confirms major tops and with advance: decline turning negative to 1:2, the strength in Nifty may not last for long. The trading range for today’s trading session is seen at 16120-16350 with short term reversal on close below 16170. Results today- GAIL India, Cipla, Adani Power, Aditya Birla Capital, Indiabulls Housing Finance, Gujarat Gas, Cera Sanitayware, Ipca Labs.
U.S. markets closed mostly lower Wednesday, with the S&P 500 falling from a record high after data signaled a slowdown in jobs growth in July, and General Motors tracked its worst day since early March. The Dow Jones Industrial Average fell 323.73 points, or 0.92%, to 34,792.67, the S&P 500 lost 20.49 points, or 0.46%, to 4,402.66 and the Nasdaq Composite added 19.24 points, or 0.13%, to 14,780.53. Asian indices have opened mixed.
Stocks to watch
Vodafone Idea: Kumar Mangalam Birla to step down as director
Reliance Industries: Company doubling PET recycling capacity
Time Techno: Update on break through order for Type-IV LPG Composite Cylinders from OMCs
Coforge: Nomura India Investment Fund Mother Fund acquired 3.5 lakh equity shares in the company at Rs 4,710 per share.
NBCC: The company said SBICAP Ventures Ltd has agreed to provide Rs 650 crore for completing six stranded projects of erstwhile Amrapali Group in Uttar Pradesh
CESC: Company has emerged as the highest bidder for acquiring a 100 percent stake in the power distribution company for the Union Territory of Chandigarh.
Hindalco: Unit Novelis 1Q net from cont. ops., ex. items $260m vs $22m; net sales up 59% y/y to $3.9b.
Prakash Industries: Wins Bhaskarpara coal mine in India auction.
State Bank of India: Sees FY22 Credit Growth at 9%; to Keep Slippages Within 2%: Chairman
Green Ply: Company to set up of 800 CBM per day capacity MDF plant in Gujarat
SCI: Board has considered and approved for Demerger of ‘Non-Core Assets’
Zomato: Zomato Payments Pvt Ltd, to carry on the business of providing payment aggregator and payment gateway services.
Sangam: Promoter Entities Bought 1.93 Lakh Shares (0.445%) Stake Via Open Market
Cochin Shipyard: The Indigenous Aircraft Carrier – “Vikrant”, India’s most complex warship to have been indigenously built by Cochin Shipyard
ION Exchange: Awarded by IOC, A Engineering, Procurement, Construction and Commissioning Contract
JSW Steel: LIC increases its stake from 4.972% to 5.001% Via Open Market Purchase
Dr. Reddy’s Laboratories announces to sell its U.S. and Canada territory rights for EL YXYB
SBI Life: Carlyle to sell remaining 1.9% stake in SBI Life via block deal; price band is Rs 1,130-1,136.85/sh
HPCL Q1: Net Profit at Rs 1795.0 cr Vs poll of Rs 2067.0 cr, Revenues at Rs 77357.0 Crore Vs f Rs 84966.0 Crore QoQ
Apollo Tyre Q1: Net Profit at Rs 128.0 cr Vs poll of Rs 140.0 cr, Revenues at Rs 4584.0 Crore Vs Rs 5026.0 Crore QoQ
Adani Total Q1: Net Profit at Rs 142.6 cr vs Rs 39.0 cr, Revenues at Rs 522.0 cr vs Rs 206.0 cr YoY
Lyka Labs: Cobra India (Mauritius) sold 3,11,595 equity shares in the company at Rs 86.47 per share on the NSE
Indiabulls Housing Finance: BNP Paribas Arbitrage sold 31,74,056 equity shares in the company at Rs 280.44 per share on the NSE
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