Market will open with a gap-down as tremors from global markets.
Stocks slid at the open in Asia Friday, and U.S. futures dropped, after President Donald Trump announced a new round of tariff hikes on Chinese imports.
Sentiments remained dampened as growth in the 8 core sectors of the economy collapsed to 0.2% in June — a staggering 50-month low. Weak global markets also weighed as US Federal Reserve Chair Jerome Powell said 25 bps rate cut was not the start of a lengthy easing cycle that investors were hoping for.
Nifty lost more than 200 points intraday before recovering in late trade but that failed to get it back above psychological 11,000-mark on August 1. It indicates that the market is completely under control of bears but a bounce back upto 11140 can't be ruled out. 11900 to 11888 will be the next zone as a support.
🎯 News & Impact 🎯
Major Results Today :
HDFC, ITC, State Bank of India, Power Grid Corporation, Nestle
Results Updates :
🎯 Bharti Airtel (Q1, QoQ) :
Revenue up 0.7 % to Rs 20,738 crore. Net loss at Rs 2,866 crore versus net profit of Rs 107 crore.
Ebitda up 25 % to Rs 8,289 crore.
🎯 Tata Power (Q1, YoY) :
Revenue up 6.2 % to Rs.7,766.7 crore.
Net profit down 90.9 % to Rs.151.3 crore versus Rs. 1,670.9 crore.
Ebitda up 29.9 % to Rs.2302.1 crore.
🎯 GSK Consumer Healthcare (Q1, YoY) : Revenue up 7.9 % to Rs 1,194.3 crore.
Net profit up 23.8 % to Rs.248.1 crore versus Rs. 200.4 crore.
🎯 Talwalkars Better Value Fitness : Company defaulted in the payment of term loan’s interest aggregating to Rs 94 lakh which was due on July 31.
🎯 Talwalkars Healthclubs :
Company defaulted in payment of loan interest worth Rs 2.5 crore which was due on July 31.
🎯 Power Grid Corporation of India :
Company was declared successful bidder to establish two transmission projects in Gujarat, Rajasthan, Haryana and Delhi.
🎯 Dishman Carbogen Amcis :
Company's manufacturing site in Switzerland received zero form 483 observations from the U.S. FDA’s pre-approval inspection. This facility develops and manufactures highly potent compounds.
🎯 Adani Transmission :
Company received two Letter of Intent for Centre Sector Transmission projects in Rajasthan and Gujarat. On a combined basis both projects add 772 ckt kilometers of transmission lines and a 3,000 MVA transformation capacity.
🎯 Bank of India :
RBI levied penalty of Rs 1.5 crore on the bank for non-compliance with the RBI guidelines on frauds in Rotomac Group case.
🎯 Allahabad Bank :
RBI levied penalty of Rs 2 crore on the bank for non-compliance of rules.
🎯 Oriental Bank of Commerce :
RBI levied penalty of Rs.1 crore on the bank.
🎯 JK Tyres & Industries :
Company’s board approved acquiring 26 % stake in Treel Mobility Solution for Rs. 6
🎯 Quess Corp :
Company promoter company HWIC Asia Fund acquired 2.56 lakh shares on July 31.
🎯 NALCO :
Company entered into a JV with Hindustan Copper and Mineral Exploration Corporation to develop strategic minerals overseas for supply to India for meeting domestic requirements and for sale to any other countries for commercial use.
🎯 PSP Projects :
Company received project orders worth Rs 86.2 crore for institutional projects. The company has received work orders worth Rs 848.85 crore so far in the current financial year.
🎯 Vodafone Idea :
Company founder group IGH Holdings increased stake to 1.3 percent in the company.
🎯 Dhunseri Tea and Industries entered into binding agreement with Tata Global Beverages for the sale of its branded business.
🎯 SRF :
Company has signed a sale agreement of its engineering plastics business to DSM India with effect from Aug. 1.
🎯 Astec Lifesciences :
Company promoter Chitralekha Ashok Hiremath acquired 40,000 shares on July 29.
🎯 KCP :
Company has differed the proposal for setting up of Grinding Unit at Naidupeta, Andhra Pradesh due to environmental concerns.
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Edited by Sharp.
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