Market will open on on a negative note in continuation with yesterday's slide.
Stocks in Asia saw a mixed open in Asia as investors mulled pessimistic signs for U.S.-China trade talks alongside a mixed set of corporate earnings ahead of the Federal Reserve’s long-awaited interest-rate cut.
U.S. stocks fell amid a mixed bag of corporate earnings and growing speculation a trade deal with China remains elusive.
Market will closely observe India Fiscal Deficit in rupees for April-June period along with India Eight Infrastructure Industries Index for June today. Also it is waiting for Fed decisions on US interest rates coming up. Nifty has a support around 10940 on it's short term downtrend initiated on
🎯 News & Impact 🎯
Major Results Today :
Eicher Motors, Indian Oil Corporation, UPL
Results Updates :
🎯 Hero MotoCorp (Q1, YoY) :
Revenue down 8.9 % to Rs 8,030 crore. Net profit up 38.3 percent to Rs.1,257 crore.
Ebitda down 15.9 % to Rs. 1,158.4 crore.
🎯 Tech Mahindra (Q1, QoQ) :
Revenue down 2.7 % to Rs.8,653 crore. Net profit down 15 % to Rs.959 crore.
🎯 Axis Bank (Q1, YoY) :
Net Interest Income up 13 % to Rs. 5,844 crore.
Net profit up 95 % to Rs 1,370 crore.
🎯 Gujarat Gas (Q1, YoY) :
Revenue up 48.1 % to Rs.2,614.6 crore. Net profit up 91.6 % to Rs 234 crore.
Positive for the stock. 👍
🎯 PNB Housing Finance Q1: Consolidated net profit rises to Rs 284.5 crore versus Rs 255.8 crore,
Revenue jumps to Rs 2,231 crore versus Rs 1,648 crore YoY.
🎯 Gulf Oil (Q1, YoY) :
Revenue up 12.9 % to Rs.440.7 crore.
Net profit up 21.4 % to Rs.48.7 crore.
🎯 Vinati Organics (Q1, YoY) :
Revenue up 11.9 % to Rs.290.7 crore.
Net profit up 28.1 % to Rs.82.4 crore.
🎯 Coffee Day Enterprises :
Body of VG Siddhartha, has been found on the banks of Netravati River in Mangaluru, according to ANI report.
🎯 Dr Reddy’s Laboratories :
The U.S. FDA issued Form 483 with five observations to the company’s Unit II Lab in Andhra Pradesh from the The inspection was conducted from July 8-12, according to Bloomberg report.
🎯 JSW Steel :
Company stated that it has been declared preferred bidder for another three iron ore mines in auctions held by Karnataka.
🎯 Alkem Laboratories :
Company stated that inspection of its manufacturing facility at Baddi has been closed by the U.S. FDA. The company stated that Form 483 contained four observations and it had submitted corrective actions in stipulated time to the FDA.
🎯 DHFL :
Company stated that it completed the sale of its 30.63 % stake in Avanse Financial Services to Warburg Pincus.
🎯 KEI Industries :
Company has started commercial production of first phase for manufacturing wire at a new plant in Dadra and Nagar Haveli.
🎯 Cox & Kings :
Company defaulted in payment of commercial papers worth Rs 10 crore which was due on July 29.
🎯 Tech Mahindra :
Company board approved the proposal to acquire majority stake in Mad Pow Media Solutions which is valued at $25.3 million.
🎯 Sobha :
Company acquired 100 % stake in two companies from Kuthavakkam Group. Both these companies have land parcels.
🎯 Mahindra & Mahindra :
Company increased stake in Smartshift Logistics to 34 % for a consideration of Rs.37.5 crore.
🎯 Muthoot Capital Services :
DSP Mutual Fund increased stake in the company by 1.21 % to 6.19 % stake.
🎯 Pfizer :
Parent Pfizer Inc, USA and Mylan NV announced a definitive agreement to combine Mylan with Upjohn, company's off-patent branded and generic established medicines business, creating a new global pharmaceutical company.
🎯 Orient Green Power :
State Bank of India's stressed Asset Management Branch, Chennai affixed e-auction sale notice for sale of factory, land and building of the company situated at Sookri Village, MP.
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Edited by Sharp.
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