News Shots

The Government hints at fresh stimulus for auto, tourism and realty. GST on two wheelers to be relaxed.

Tata Motors aims to reduce its total automotive debt to ‘near-zero levels’ in three years and generate free cash flows from FY22 onwards

DLF will move into the mid income housing segment in an diversification exercise that will see the company develop 10 million sq ft of mid-income housing as the realty major targets segments other than its traditional market—luxury and super luxury housing.

S&P Global Ratings said TCS is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global information technology (IT) spending.

PNB recovers Rs 24 crores in the Nirav Modi case.

Promoters of Phoenix Mills have sold 7.28% stake in the company through bulk deals on Tuesday to raise over Rs 833 crore.

Water treatment player VA Tech WABAG said its board of directors has considered the Letters of Consent received from “marquee, high networth investors” and approved capital infusion aggregating to Rs 120 crore.

Procter & Gamble Hygiene and Health Care (P&G) reported a 13.85 per cent rise in its net profit at Rs 69.21 crore for the quarter ended June. The company had posted a net profit of Rs 60.79 crore in the year-ago quarter.

JMC Projects have received a new infra order worth Rs 554 crores in the building and factory segment. It has won orders worth Rs 4,000 crores till date in FY21.

Major Results Announcement Today:

  • Indraprastha Gas
  • Gillette India
  • Gujarat Mineral Development Corporation

What to expect today?

Yesterday, NIFTY opened just above 11,500 but couldn’t sustain it. It was a fairly volatile day and the support at 11,430 was tested 2 times. But all ended well on a positive note at around 11,480. Click here for a detailed analysis of yesterday’s market and stock movements.

US Markets are mostly up, hitting all time highs. Asian markets are mixed. SGX NIFTY is currently trading at 11,487, indicating a flat to positive opening in the Indian Market.

NIFTY is likely to trade between 11,400 and 11,600 today. There is support at 11,450 and 11,380 and resistance at 11,500 and 11,550.

Highest Call Open Interest at 11,500, followed by 11,800. Highest Put Open Interest at 11,000, followed by 11,400. 

Foreign institutional investors (FIIs) bought shares worth Rs 1,481.2 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 172.97 crore. It is interesting to note that FIIs continue to buy heavily!

Tata Motors ADR (American Depository Receipts) traded a whopping 5.22% higher, indicating bullishness. There is weakness in IT Stocks as rupee is getting stronger.

With the GST revision on two wheelers being discussed, all two wheeler stocks – Bajaj Auto, Hero Moto Corp, TVS – can move well today

Bank and Auto Stocks can continue to do well. An eye can also be on pharma, which has been underperforming lately.