India’s most valuable company Reliance fell 3.4% in its biggest intraday percentage drop in more than three weeks, after its first-quarter profit missed estimates on a surge in costs.
Shares of Zomato plunged 11.5% to a record low as a one-year lock-in period ended following the food delivery company’s 2021 IPO.
“Market action this week will be in response to the results declared after market closure last Friday and in anticipation of the major results expected this week. RIL’s results, though impressive on the telecom and retail front, fell slightly below expectations in the refining space. ICICI Bank’s results are the best in the banking segment. The steller Q1 numbers, increasing credit growth and improving asset quality augur well for the ICICI Bank stock. Infosys’s numbers reflect the industry concerns of pressure on margins but Infy’s higher revenue growth guidance of 14-16 percent indicate the management’s confidence regarding the business prospects,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The Fed’s rate announcement on 27th July is not likely to impact the market much since a 75 bp rate hike is already known and discounted by the market, he said, adding that the market will be keenly watching the Fed commentary for near-term triggers.
Nifty 50 components Tata Steel, Tech Mahindra and Axis Bank are scheduled to report their results later in the day.
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Sharda Cropchem Q1 profit falls
- PAT at Rs 22.64 crore vs Rs 38 crore YoY
- Revenue at Rs 825 crore vs Rs 623 crore YoY
ECB’s Kazaks says big interest-rate hikes may not be over
#GlobalNews | ECB's Kazaks says big interest-rate hikes may not be over @ecb #Interest #RateHike #GlobalEconomy… https://t.co/Zl9EdMLhHz
— ET NOW (@ETNOWlive) 1658734735000
European equities weaken at open
European stock markets fell at the open Monday as investors brace for another hefty US interest rate hike and the latest major company earnings. London’s benchmark FTSE 100 index of major blue-chip companies shed 0.3 percent to 7,254.94 points, compared with the closing level on Friday.
Ahead of earnings…
Price as on 25 Jul, 2022 12:48 PM, Click on company names for their live prices.
Banking pack fall but these stocks buck the sectoral trend
Price as on 25 Jul, 2022 12:40 PM, Click on company names for their live prices.
Karur Vysya Bank Q1 Results-Gross NPA at 5.21% vs 5.96% QoQ-Provisions at Rs 155 cr, up 11% QoQ-PAT at Rs 228.8 cr vs Rs 108.9 cr YoY-Net NPA at 1.91% vs 2.28% QoQ
This multibagger zooms 5% on capacity expansion plans
Smallcap firm Shri Keshav Cements and Infra (SKCIL) hits its upper circuit limit on Monday after the company announced to increase its capacity. The BSE-listed company informed the exchange that it is considering undertaking a feasibility study for expanding its manufacturing capacity to 3,000 tonnes per day (TPD). Following the development, shares of SKCIL rallied 5 per cent, close to its daily circuit limit of Rs 128 and just shy of its 52-week high of Rs 131.70 hit in May 2022. The scrip had settled at Rs 122.05 on Friday.
3 Nifty companies to report Q1 results today. Here’s what you should expect
An ET NOW poll of analysts forecasts Tata Steel to report a 19 per cent year-on-year (YoY) drop in net profit at Rs 7,199 crore compared with Rs 8,907 crore in the same quarter last year. Revenue for the quarter is seen rising 14 per cent YoY to Rs 60,615 crore from Rs 53,372 crore.
The private lender may report a 57.4 per cent YoY jump in net profit at Rs 6,100 crore compared with Rs 2,160 crore in the same quarter last year. NII is seen climbing 17.3 per cent YoY to Rs 9,100 crore from Rs 7,760 crore, ET NOW poll suggests.
The IT major may report a 25 per cent quarter-on-quarter (QoQ) drop in net profit at Rs 1,120 crore compared with Rs 1,506 crore in the March quarter. Revenue is seen rising 4 per cent QoQ to Rs 12,620 crore from Rs 12,116 crore.
Auto pack worst performer in trade today; check out top losers from the pack
Price as on 25 Jul, 2022 11:54 AM, Click on company names for their live prices.
Q1 EARNINGS: Jyothi Labs
#EarningsWithETNOW | Jyothy Labs Q1FY23 -Cons revenue at Rs 597 cr vs Rs 525 cr YoY -Cons PAT at Rs 48 cr vs Rs 4… https://t.co/Fi821oPz9z
— ET NOW (@ETNOWlive) 1658727049000
Sensex down 500 points
- Morgan Stanley remains overweight on the stocks with a target price of Rs 1,535 on the stock, lowest among the three included in this report. “Infosys’ growth performance was solid but margin was lower,” it said.
- Another brokerage, BofA Securities has kept its ‘neutral’ rating on the stock with a target price of Rs 1,600 as it has raised its FY23 revenue outlook but EBIT percentage steered to low-end.
- On the other hand, CLSA has maintained a buy rating on the counter with a target price of Rs 1,750 on the counter amid the healthy demand momentum and the cost challenges appears to be transient.
Market LIVE Updates: Metal stocks gain in a weak market; check out the top gainers
Price as on 25 Jul, 2022 10:58 AM, Click on company names for their live prices.
GoM meeting on new GST structure for online gaming and casinos remains inconclusive
#ETNOWExclusive | GoM meeting on new #GST structure for online #gaming and #casinos remains inconclusive No final… https://t.co/XjezRezsF3
— ET NOW (@ETNOWlive) 1658725642000
How have analysts changed their stance on RIL stock, after a miss in O2C segment’s Q1FY23 numbers?
#StocksToWatch | How have analysts changed their stance on #RIL stock, after a miss in O2C segment's Q1FY23 numbers… https://t.co/CPBcB1WqAp
— ET NOW (@ETNOWlive) 1658718842000
Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena, announced that Mineral Development Bank has chosen iGCB’s Intellect Digital Core to transform its banking solutions.
Price as on 25 Jul, 2022 10:22 AM, Click on company names for their live prices.
Droupadi Murmu takes oath as 15th President of India
LIVE | Draupadi Murmu takes oath as India's 15th President. Watch #DraupadiMurmu @rashtrapatibhvn https://t.co/AByp5Nt5th
— ET NOW (@ETNOWlive) 1658724352000
Rupee rises 9 paise to 79.81 against US dollar in early trade
The rupee appreciated 9 paise to 79.81 against the US dollar in early trade on Monday, supported by the fall in crude oil prices. At the interbank foreign exchange, the rupee opened at 79.86 against the American dollar. In initial trade, the local currency witnessed a high of 79.81 and a low of 79.87 against the US dollar. In the previous session, the rupee had closed at 79.90 against the American currency. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.10 per cent to 106.62.
Earnings Impact: Anupam Rasayan rises 3% as firm posts strong show in Q1
Q1 EARNINGS: Anupam Rasayan
- PAT: Rs 39.7 crore vs Rs 32.1 crore YoY
- Revenue: Rs 307 crore vs Rs 234 crore YoY
Sensex LIVE Updates: Index extends losses, down 250 points
NATCO announces approval of its ANDA for Cabazitaxel Intravenous Solution (generic for Jevtana Kit)
Price as on 25 Jul, 2022 09:36 AM, Click on company names for their live prices.
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The Fed’s rate announcement on 27th July is not likely to impact the market much since a 75 bp rate hike is already known and discounted by the market. The market will be keenly watching the Fed commentary for near-term triggers.
FII selling, which has been a major drag on the market since October 2021, is unlikely to impact the market in the near-term since FIIs have turned buyers recently. As expected, financials have benefited from the recent change in FII investment strategy.
YES Bank, Voda Idea, ICICI Bank among most active stocks on NSE
Price as on 25 Jul, 2022 09:26 AM, Click on company names for their live prices.
BUZZING STOCKS: Zomato tumbles 11%, hits new 52-week low as lock in for pre-IPO stake ends
OPENING BELL: Sensex sheds 100 points, Nifty below 16,700; RIL, Oil India drop 2% each
Rupee opens at 79.85/$ vs Friday’s close of 79.86/$
#MarketAlert | Rupee opens at 79.85/$ vs Friday’s close of 79.86/$ #RupeeVsDollar #Rupee #MarketsWithETNOW https://t.co/jpXRaZOW1R
— ET NOW (@ETNOWlive) 1658720663000
Multiple block deals in Nifty stocks in pre-open trade
#MarketAlert | Reliance has 4.13 mn shares change hands pre-market. ICICI Bank has 7.18 mn shares change hands pre-… https://t.co/iReKLoVHQJ
— ET NOW (@ETNOWlive) 1658719710000
Oil falls on concerns expected Fed hike will impact fuel demand
Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the U.S., the world’s biggest oil user, may limit fuel demand growth. Brent crude futures for September settlement dropped 48 cents, or 0.5%, to $102.72 a barrel at 0205 GMT, down for a fourth day.
Asian stocks slip as growth risks sap confidence
Asian stocks lost ground on Monday, retreating from over three-week highs as worries about a global economic downturn sapped investors’ risk appetite. MSCI’s broadest index of Asia-Pacific shares lost 0.62% to 158.68, after touching the highest since June 29 at 160.03 on Friday.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 81.5 points, or 0.49 per cent, lower at 16,643.50, signaling that Dalal Street was headed for a negative start on Monday.
Quarterly earnings today
Axis Bank, Tata Steel, Tech Mahindra, Canara Bank, Macrotech Developers, Glaxosmithkline Pharmaceuticals, Central Bank Of India, Solar Industries India, Supreme Industries and Indian Energy Exchange are among companies that will announce their quarterly earnings today.
Tech View: Nifty50 extends winning run, stiff resistance at 16,800 likely
Nifty50 on Friday climbed for the sixth session in a row and, in the process, took out the 16,700 level on a closing basis. The index formed a bullish candle on the daily chart and a solid bullish candle on the weekly scale. Analysts largely see resistance for the index at 16,800-850 levels. They see a strong support for the index at 16,500 level.
Tokyo shares open lower
Tokyo stocks opened lower Monday tracking losses on Wall Street, with investors disheartened by a key monthly survey on economic activity that fuelled concern over a global slowdown. The benchmark Nikkei 225 index slipped 0.62 percent, or 173.32 points, to 27,741.34 in early trade, while the broader Topix index fell 0.42 percent, or 8.29 points, to 1,947.68.
Wall Street closes lower as ad tech, social media stocks drop
U.S. stocks ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad tech firms dropped, offsetting gains from card issuer American Express following an upbeat forecast.
Rupee falls 5 paise to end at 79.90 against dollar
The rupee fell by 5 paise to close at 79.90 against the US dollar on Friday as stronger American currency and elevated crude oil prices weighed on investor sentiment. However, a firm trend in domestic equities restricted the rupee’s fall, forex traders said.
Sensex, Nifty on Friday
The 30-share pack Sensex advanced 390 points to close at 56,072. Its broader peer, Nifty50, rose 114.20 points to close above the 16,700 mark. For the week, the benchmarks have advanced over 4 per cent.