News Shots

  • HUL reported a positive result of 7.18 per cent year-on-year (YoY) rise in standalone net profit at Rs 1,881 crore for the quarter ended June 30.
  • Axis Bank reported a decline of 19 per cent in its net profit for the first quarter (Q1) of 2020-21. But this also seems to be welcomed well by the market.
  • Bajaj Finserv reported a 44 per cent rise in consolidated net profit to Rs 1,215 crore in the first quarter ended June of the current fiscal year, mainly on the back of good earnings from its insurance subsidiaries.
  • Bharat Earth Movers (BEML) has received a Rs 557 crore order from the Ministry of Defence (MoD) for supply of 1,512 Track Width Mine Plough (TWMP), a de-mine equipment, for T-90 tanks used by the Army.
  • Tata Elxsi reported its net profit has increased 41.1 per cent to Rs 68.87 crore for the June 2020 quarter. The company had registered a net profit of Rs 48.79 crore in the year-ago period
  • HDFC Life Insurance reported higher profits while ICICI Prudential Life Insurance reported a very slight increase in profits.
  • LIC increased its stake in Godrej Industries and Sun Pharma.
  • Q1 Result Announcements Today:
    • Larsen & Toubro
    • Bajaj Auto
    • Bajaj Holdings
    • Alembic Pharma
    • Jindal Steel
    • ICICI Securities
    • TTK Prestige
    • Rallis India
    • Heidelberg Cement

What to expect today?

  • Yesterday was another day with little to no volatility where NIFTY moved within a very small range. Bank stocks, as expected, did well. Reliance also did well. There is a fear of profit booking and sudden fall in the market.
  • Global markets are mixed. Asian markets are slightly up. SGX NIFTY is currently trading higher at 11,185, indicating a flat to gap up opening in the Indian Market!
  • NIFTY is likely to trade between 11,000 and 11,250 today. There is support at 11,120 and 11,080 and resistance at 11,190 and 11,220.
  • Highest Call Open Interest at 11,500, followed by 11,000. Highest Put Open Interest at 11,000, followed by 10,800. 
  • Foreign institutional investors (FIIs) bought shares worth Rs 2,265.88 crore, while domestic institutional investors (DIIs) sold shares worth Rs 727.39 crore in the Indian equity market