News Shots

  • There is a fresh positive update from Russia again regarding the COVID 19 vaccine. The news says human trials are successfully completed and production can start from next month.
  • There was a rumour that Tata Motors was planning to sell up to 49 percent stake in its passenger vehicle business. But later, the company, in a statement, said that a report about the stake sale is ‘baseless and without any merit.’
  • RBI approves Sashidhar Jagdishan as next CEO of HDFC Bank. He will take over from Aditya Puri who will step down as the bank’s longest serving CEO ever since he took charge 26 years ago. Puri is set to retire by October this year.
  • Axis Bank has launched its qualified institutional placement (QIP) on Tuesday to raise up to Rs 10,000 crore. In a stock exchange filing, the bank said it had fixed a floor price of Rs 442.19 per share.
  • Vodafone Idea has paid the telecom department most of its Rs 1,200 crore dues towards licence fee and spectrum usage charge (SUC) for the April-June period, after missing the deadline of July 15.
  • Sun Pharma to launch COVID 19 favipiravir drug very soon in India. The pricing will be key.
  • Punjab National Bank shareholders have approved a proposal to raise up to Rs 7,000 crore through share sale to enhance its capital base.
  • Tata Consumer Products Ltd reported 81.78 per cent rise in net profit at Rs 345.55 crore for the June quarter helped by increase in demand in some categories.
  • Geojit Financial Services announced quarterly results with profit at Rs 24.56 crore versus Rs 4.01 crore, revenue at Rs 91 crore versus Rs 73.88 crore YoY. 
  • Godrej Consumer Products Ltd declared its Net profit at Rs. 395.3 Cr decreasing 3% YoY and increasing 71% QoQ.
  • Kansai Nerolac Paints Q1 results – YoY 80% fall in net profits, misses street estimates.
  • Q1 Results Announcement Today:
    • Apollo Tyres
    • Cadila Healthcare
    • DLF
    • Inox Leisure
    • VIP Industries

What to expect today?

  • Yesterday, NIFTY shot up from danger levels, rallied and closed strongly near 11,100. I had said this in the Sunday live and yesterday’s morning feed as well. NIFTY has taken support in the 10,850-10,900 range. As I had said, NIFTY came down mostly because of the fall in Reliance and HDFC Bank. Yesterday both of them shot up – Reliance a whopping 7% and HDFC Bank 3%. Since they went up, NIFTY also went up to its original levels.
  • US Markets are mostly up. Asian markets are mixed. SGX NIFTY is currently trading higher at 11,114, indicating a gap up opening in the Indian Market!
  • NIFTY is likely to trade between 11,000 and 11,200 today. There is support at 11,060 and 11,000 and resistance at 11,160 and 11,200.
  • Highest Call Open Interest at 11,500, followed by 11,000. Highest Put Open Interest at 11,000, followed by 11,100. 
  • Foreign institutional investors (FIIs) bought shares worth Rs 703.74 crore while domestic institutional investors (DIIs) sold shares worth Rs 665.69 crore in the Indian equity market
  • Finally, the banks did well as we expected. But Axis Bank, Kotak Bank etc need to be in watch. Also, there is RBI policy being announced on Thursday. That will be a huge factor for how banks perform. Pharma continues to be in watch.