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Sensex closes 639 pts higher, Nifty at 15,824; metals, realty outperform

Stock Market Today: Indian indices may open higher on Thursday. (MINT_PRINT)Premium
Stock Market Today: Indian indices may open higher on Thursday. (MINT_PRINT)

  • Market Closing: The Sensex closed at 52,837.21, up 638.70 points or 1.22%, while Nifty was at 15,824.05, up 191.95 points or 1.23% on Thursday. Bajaj Auto, HUL, Ultratech, and Hindustan Zinc reported their Q1 results.

Sensex, Nifty closed over 1.22% higher on Thursday. All eyes will be on RIL's Q1 earnings due out on Friday. Realty, metals, IT, banks and financials were top gainers. Asian stocks closed in green on Thursday.

22 Jul 2021, 04:01:12 PM IST

Rupee surges 15 paise to close at 74.46 (provisional) against US dollar

22 Jul 2021, 03:47:06 PM IST

Market closing quote: Gaurav Udani, CEO and founder, ThincRedBlu securities

"After making a low of of 15,578 on Tuesday, Nifty gave a pull back and closed at 15,830 , up by about 200 points since its last trading session. There is a divergence in volume since the last close which is not a good sign for bulls.15,830 - 15,880 is a strong resistance zone for Nifty and, further up move will come only once it closes above 16,000 levels. Till then, traders are advised to book profit on every rise and exit all longs if Nifty closes below 15,580 levels."

22 Jul 2021, 03:45:33 PM IST

Market closing

The Sensex closed at 52,837.21, up 638.70 points or 1.22%, while Nifty was at 15,824.05, up 191.95 points or 1.23% on Thursday. All sectors closed in green on Thursday. Tech Mahindra, Bajaj Finance, Bharti Airtel, and 23 other stocks closed in green on Thursday, while HUL, Asian Paints, Bajaj Auto, and M&M closed in red.

Sensex at close
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Sensex at close
22 Jul 2021, 03:26:25 PM IST

IDFC gains 19% after RBI approves exit as promoter of IDFC First Bank

Shares of IDFC gained as much as 18.67% after the company said that the Reserve Bank of India (RBI) allowed to exit as the promoter of IDFC First Bank as the five-year lock-in period expires. At 03:15 pm, IDFC was trading at 59.25 up 12.32% from its previous close, while the benchmark index, Sensex gained 1.22% to 52,836.91. The five-year lock-in period ended on 30 September 2020. IDFC currently owns a 100% stake in IDFC Financial Holding Company, which, in turn, holds 100% in IDFC Asset Management and 36.56% in IDFC First Bank.

22 Jul 2021, 03:11:48 PM IST

Hindustan Zinc beats Q1 estimates

Hindustan Zinc reports Q1 Ebitda of 35.5 billion compared to 9.8 billion a year ago. The Q1 ebitda margin was at 55.79%, compared to 24.57% a year ago.

22 Jul 2021, 03:06:46 PM IST

Market commentary: Narendra Solanki, head- equity research (fundamental), Anand Rathi Shares & Stock Brokers

“Indian markets started on a positive note following upbeat Asian markets as investors await the latest monetary policy announcement from the European Central Bank. During the afternoon session markets traded at day’s high on the back broad based buying in frontline blue chip counters by fund and retail investors. The rally in domestic equities was also triggered by positive reaction to the latest batch of earnings reports from several big companies in the US, which indicated that the world's biggest economy is on the path of recovery. Today's rally was led by banks, financials, IT, metals while FMCG and Auto remained flat to negative."

22 Jul 2021, 02:43:34 PM IST

Hindustan Zinc flat, MOIL drags

Nifty metal index
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Nifty metal index
22 Jul 2021, 02:43:35 PM IST

Rajya Sabha proceedings adjourned for the day amid uproar by opposition

22 Jul 2021, 02:36:55 PM IST

Bharti Airtel gains

Airtel discontinues 749 family psotpaid plan for new customers.

22 Jul 2021, 02:23:21 PM IST

HUL Q1 commentary: Amarjeet Maurya - AVP - Mid Caps, Angel Broking

"For Q1FY22, HUL’s top-line reported growth of 14% year-on-year to 1,2194 crore on the back of healthy volume growth ( up 9% y-o-y) and improvement in realisation. On segment wise, Home Care revenue grew by 12% y-o-y, Beauty & Personal Care revenue grew by 13% y-o-y, Foods & Refreshme revenue grew by 12% y-o-y and Others revenue grew by 46% y-o-y. During the quarter, the company has reported healthy growth across the product portfolio. On the EBITDA front, the company has reported 2,921 crore and Ebitda margin at 24.0% (down by 116 bps y-o-y due to input cost inflation). On the bottom-line front, PAT grew by 11% to 2,100 crore. Overall 1Q results were in line with expectation.Considering the HUL’s healthy performance, strong brand and wide distribution, we are positive on stock."

22 Jul 2021, 02:20:27 PM IST

IndiaBulls RE, Prestige drive gains

Nifty realty index
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Nifty realty index
22 Jul 2021, 02:15:40 PM IST

CCI accuses Amazon of concealing facts in deal for Future Group

India's antitrust regulator has accused Inc of concealing facts and making false submissions when it sought approval for a 2019 investment in a Future Group unit, a letter to the US e-commerce giant seen by Reuters showed. The letter complicates Amazon's bitter legal battle with Future Group over the Indian's firm's decision to sell its retail assets to Reliance Industries - a matter that is now before India's Supreme Court. (Read here)

22 Jul 2021, 02:07:02 PM IST

UltraTech's Q1 ebitda rises to $31.7 bn

Ultratech reported Q1 Ebitda of 31.7 billion compared to 20.74 billion. The company’s Q1 ebitda margin was at 27.6% compared to 27.18% a year ago.

22 Jul 2021, 02:06:57 PM IST

Sensex heatmap

Asian Paints, Nestlé India, ITC top drags
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Asian Paints, Nestlé India, ITC top drags
22 Jul 2021, 01:40:55 PM IST

HUL June quarter net profit up 9.5%

Hindustan Unilever's (HUL) Q1 standalone net profit for the quarter ended June came at 2,061 crore, an increase of 9.5% as compared to 1,881 crore in the same quarter last year. The FMCG company's total revenue from operations rose nearly 13% to 11,915 crore as compared to 10,560 crore. Its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin stood at 24% during the quarter. (Read here)

22 Jul 2021, 01:38:06 PM IST

Tata group bullish on e-commerce just as rules threaten to transform market

Tata Group is taking a more vocal interest in rules shaping online marketplaces, hinting at ambitions as it reappraises its retail strategy just as e-commerce reform threatens to muddy plans. The $106 billion conglomerate yet e-commerce minnow was far more vociferous in discussions than market leader Inc at a July 3 meeting with government officials about proposals such as the prohibition of sales of own-brand or affiliates' goods, attendees said (Read here)

22 Jul 2021, 01:08:19 PM IST

Clix Capital appoints Rakesh Kaul as CEO

Non-bank lender Clix Capital on Thursday announced the appointment of Rakesh Kaul as its new chief executive officer with effect from 16 August. (Read here)

22 Jul 2021, 12:44:04 PM IST

Ceat down 2% as higher interest, cost inflation play spoilsport in Q1

Tyre maker Ceat Ltd reported muted earnings in the June quarter impacted by a couple of factors. The company's consolidated net profit stood at Rs23 crore in Q1FY22 compared to a loss of Rs35 crore in the same quarter last year, hit by covid-led lockdown. Analysts say, higher depreciation costs and interest expenses hurt the company's profit growth. (Read here)

22 Jul 2021, 12:26:34 PM IST

Stock suggestion: Amarjeet Maurya - AVP - Mid Caps, Angel Broking maintains 'buy' on Burger King

"Burger King India: CMP-Rs181 Target Price: 218; Burger King India Ltd (BKIL) is into the business of Quick Service Restaurants(QSR) under the brand name of 'Burger King'. QSR industry is expected to grow ~23% CAGR over FY20-25 which would benefit the player like BKIL. Over FY16-20, BKIL has reported revenue CAGR of ~56% which outperformed its peers during the same period. BKIL is expected to add more than 200 stores in the next 3 years which would drive strong revenue growth. Going forward, we expect BKIL to report strong top-line growth and gradual reduction in losses on the back of aggressive store addition, new product launches and strong brand. Hence we are positive on the stock with a buy rating."

22 Jul 2021, 12:20:32 PM IST

Bajaj Auto gains

Bajaj Auto reported Q1 consolidated net profit of 10.6 billion compared to 3.96 billion a year ago. The company reported Q1 revenue of 73.9 billion compared to 30.79 billion a year ago. (Read here)

22 Jul 2021, 12:09:17 PM IST

Havells shares zoom over 7% as Q1 net profit jumps

Shares of consumer electrical goods maker Havells India Ltd on Thursday gained over 7% after the company reported a nearly four-fold jump in its consolidated net profit for the first quarter ended June 2021. The stock jumped 7.30% to 1,184 on the BSE. At the NSE, it gained 7.29% to 1,184. Havells India Ltd on Wednesday reported a nearly four-fold jump in its consolidated net profit to 235.78 crore for the first quarter ended June 2021, driven by "resilient" demand post easing of covid restrictions. (PTI)

22 Jul 2021, 11:51:11 AM IST

Sygene International commentary: Yash Gupta Equity Research Associate, Angel Broking

"Syngene international reported a weak set of numbers for Q1FY22.

The company reported revenue from operation at 595.4 crores up by 41% as compared to 421.6 crores in Q1FY21. Ebitda was at 177.3 crores up by 27% as compared to 139.8 crores in Q1FY21 and reported Ebitda margins of 29% a drop of 300 bps from Q1FY21, primarily due to the higher raw material cost. The company reported Profit after tax of 77.3 crores in Q1FY22, up by 33% as compared to 58 crores in Q1FY21. Overall, the company a reported good weak set of numbers, Q1FY21 was a very low base for the company we expect the company to improve its performance in upcoming quarters. We have a Neutral outlook on Syngene International Ltd."

22 Jul 2021, 11:46:57 AM IST

India's smartphone mkt falls 13% sequentially in Q2 amid 2nd covid wave: Canalys

Smartphone shipments in India fell 13% to 32.4 million units in the April-June 2021 period over the previous quarter as the second wave of covid-19 stifled demand, according to research firm Canalys. Given that the April-June 2020 had an almost two-month nationwide lockdown (amid the first wave of the pandemic), the year-on-year comparison was "extremely favorable" with shipments up 87%, Canalys said in its report. (PTI)

22 Jul 2021, 11:35:00 AM IST

Banks, financials gain

Nifty sectoral indices
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Nifty sectoral indices
22 Jul 2021, 11:22:22 AM IST

Jubilant Foodworks commentary: Amarjeet Maurya - AVP - Mid Caps, Angel Broking

"For Q1FY22, Jubilant Foodworks (JFL)’s top-line grew by 130% year-on-year (y-o-y) to 893 crore. This was driven by Domino’s LFL Sales growth of 120.4% and SSG of 114.2%. The growth in delivery channel, which grew by 123.7%, mitigated the impact on account of dine-in channel being shut for a long time and mobility restrictions impacting the takeaway channel. Currently, the company has 1380 stores and 20 new stores added during the quarter. On the consolidated operating front, the company has reported 212 crore, grew by 764% on account of lower base last year same quarter. JFL reported operating margin improvement (up by 1,744bp y-o-y to 23.8%). On the bottom-line front, JFL reported profit of 69 crore (against loss of 74 crore in 1QFY21) due to lower sales. Overall, Q1 results were in line with expectations. Considering the JFL’s healthy performance, strong brand and expected number of stores addition, we are positive on stock."

22 Jul 2021, 11:12:50 AM IST

Rajya Sabha proceedings adjourned

22 Jul 2021, 11:12:51 AM IST

IDFC First Bank: Angel Broking maintains 'buy'

"In IDFC First we believe efforts to built liability franchise, fresh capital infusion and provision taken on wholesale book will help to tide over this difficult time. The IDFC First Bank is trading ( 0.7 x FY22ABV) at a significant discount to historical average valuations."

22 Jul 2021, 11:05:21 AM IST

Key govt updates awaited: report

  • BEML stake sale has received interest from major players
  • Centre confident of BPCL, Air India stake sale before end of the year
  • Centre may allow 100% FDI in oil cos

-CNBCTV18 reported

22 Jul 2021, 10:52:17 AM IST

Tata Motors gains; board apporves NCD allotment

Tata Motors' board has approved the allotment of 5,000 rated, listed, unsecured, redeemable, non-convertible debentures of face value 10,00,000 each.

22 Jul 2021, 10:38:55 AM IST

Bajaj Finance gains

Bajaj Finance's stock was trading at 6,167.70, up 3.87% at 10:37 am. The company's consolidated net profit for the first quarter of FY22 came at 1,002 crore, up 4% as compared to 962 crore in the same quarter last year. Its Net Interest Income (NII), the difference between interest earned and interest expended, for Q1FY22 increased by 8% to 4,489 crore as against 4,152 crore in the year ago quarter, the financial services company's quarterly results showed. (Read here)

22 Jul 2021, 10:38:55 AM IST

Infosys, ICICI Bank, HDFC twins drive gains

Index contribution
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Index contribution
22 Jul 2021, 10:32:42 AM IST

Rupee gains 18 paise to 74.43 against US dollar in early trade

22 Jul 2021, 10:21:06 AM IST

BlackBuck turns unicorn with $67 million fund raise

Online trucking platform, BlackBuck is the newest entrant to India’s growing list of 'unicorn' startups and has raised $67 million as a part of its latest Series E round of equity financing at a valuation of $1.02 billion. The round was led by Tribe Capital, IFC Emerging Asia Fund and VEF. Existing investors Wellington Management, Sands Capital, and International Finance Corporation also participated in the round. According to the company, it will use the funds to increase its penetration in the market and launch new service offerings for its trucking partners. (Read here)

22 Jul 2021, 10:19:37 AM IST

Cabinet meet on BPCL today: reports

22 Jul 2021, 10:08:50 AM IST

Nifty quote: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"On Tuesday the index took good support at the 15,600 level and has bounced from there. 15,800-15,900 is an area of resistance. If we can get past that, the markets should resume its endeavor to scale higher towards 16,000-16,100. Until then we continue to be in a sideways patch with 15,600 at the lower end and 15,900 at the upper end."

22 Jul 2021, 09:47:35 AM IST

Jubilant Foodworks gains

Jubilant Foodworks' stock was traduing at 3,328.25, up 8.67% at 9:45 am. The operator of Domino’s Pizza and Dunkin’ Donuts restaurants in India, swung to a consolidated net profit of 69.06 crore in the first quarter of the ongoing fiscal year (Q1FY22), from a year-ago loss, thanks to a sharp increase in revenue.

22 Jul 2021, 09:30:02 AM IST

Market opening

The Sensex opened at 52,494.56, up 296.05 points or 0.57%, while the Nifty was at 15,736.60, up 104.50 points, or 0.67%. Banks, metals were top gainers. On the 30-share Sensex, PowerGrid, ICICI Bank, IndusInd, and 22 other stocks opened in green, while Bajaj Finserv, HCL Tech, TCS, Tech Mahindra and Bajaj Finance opened in red.

Sensex at open
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Sensex at open
22 Jul 2021, 09:14:15 AM IST

India reports 41,383 new Covid-19 cases; 507 fatalities take death toll to 418,987

22 Jul 2021, 09:04:02 AM IST

Mumbai rains: Local services affected, long-distance trains cancelled

Mumbai received heavy showers intermittently today early morning resulting in disruption of rail traffic in several areas. The train traffic between Khardi and Igatpuri stations of the Central Railway was suspended due to waterlogging between Umbermali and Kasara stations in the neighbouring Thane district since 10.15 pm. (Read here)

22 Jul 2021, 08:43:52 AM IST

Vedanta may have to shell out more cash for Videocon

Lenders to Videocon Industries Ltd are likely to seek higher upfront cash from the Vedanta group, which won the bid to acquire the bankrupt company, three people aware of the matter said, after an appeals court stayed the rescue plan on Monday. The National Company Law Appellate Tribunal (NCLAT) put the resolution plan on hold after creditors unhappy with the modest payout challenged the National Company Law Tribunal’s (NCLT) approval for the plan. (Read here)

22 Jul 2021, 08:24:35 AM IST

Market outlook

Markets are likely to be volatile on Thursday while trends in SGX suggest a positive opening of Indian benchmark indices. Indian markets were shut for trading on Wednesday. Among major markets Hindustan Unilever, Ultratech Cement, Bajaj Auto, Hindustan Zinc, ICICI Lombard General Insurance Co., Biocon, Mphasis, Bajaj Holdings, Persistent Systems and Bank of Maharashtra will announce quarterly earnings today. (Read here)

22 Jul 2021, 08:07:49 AM IST

Stocks to Watch

Bajaj Finance, ICICI Pru Life, IDFC, telecom stocks, among others may be in the news today. (Read here)

22 Jul 2021, 07:51:56 AM IST

Bitcoin, ether, dogecoin prices surge after Elon Musk confirms he owns the cryptos

In cryptocurrencies, Bitcoin prices climbed back above $32,000 after trading below the crucial $30,000 level in the past two sessions as billionaire Elon Musk that his space exploration company SpaceX also owns the digital token and has no plans to sell it. Other cryptocurrencies like ether, dogecoin also gained after Tesla boss said that he personally owns the above three digital tokens, while Tesla and SpaceX both exclusively own Bitcoin. As per CoinDesk, Bitcoin surged over 7% to $32,200 level whereas ether, the coin linked to Ethereum blockchain, was up to $1,980.8. Dogecoin, on the other, hand, was gained over 9% to $0.18. Other digital coins like XRP, Cardano, Uniswap also jumped in the range of 6-10% over the last 24 hours. (Read here)

22 Jul 2021, 07:40:09 AM IST

Asian markets open higher

Asian stocks climbed early Thursday after solid company earnings boosted Wall Street, easing concerns about peak economic growth and coronavirus flareups. The dollar held a decline.

Shares rose in Australia and South Korea, while Japan is shut for a holiday. U.S. futures edged up after the S&P 500’s biggest back-to-back advance in two months, led by cyclical stocks like energy and financials. Verizon Communications Inc. and Coca-Cola Co. rose after better-than-estimated results, while United Airlines Holdings Inc. predicted profits ahead despite concerns about Covid-19’s threat to travel.

S&P 500 futures climbed 0.1% as of 10:25 a.m. in Sydney. The S&P 500 rose 0.8%

Nasdaq 100 futures added 0.1%. The Nasdaq 100 rose 0.8%

Australia’s S&P/ASX 200 index rose 0.9%

South Korea’s Kospi index increased 0.9%

Hang Seng Index futures gained 0.7%

SGX Nifty slipped 0.14%

22 Jul 2021, 07:31:07 AM IST

Wall Street closes higher

Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the U.S. economic recovery fueling a risk-on rally. All three major U.S. stock indexes added to their previous session's advance, placing all three within 1% of their all-time closing highs. Economically sensitive smallcaps, semiconductors and financials outperformed the broader market.

The Dow Jones Industrial Average rose 286.01 points, or 0.83%, to 34,798, the S&P 500 gained 35.63 points, or 0.82%, to 4,358.69 and the Nasdaq Composite added 133.08 points, or 0.92%, to 14,631.95.

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