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Sensex closes 139 pts higher, Nifty at 15,856; all eyes on RIL Q1 results

Stock Market Today: Indian indices were volatile on Friday. (Mint)Premium
Stock Market Today: Indian indices were volatile on Friday. (Mint)

  • Market closing: The Sensex closed at 52,975.80, up 138.59 points or 0.26%, while Nifty was at 15,856.05, up 32.00 points or 0.20%. Auto, media were top drags while banks, realty were top gainers.

Sensex, Nifty closed over 0.20% higher on Friday. All eyes will be on Reliance Industries' Q1 result due later today. ICICI Bank and ITC stocks were upbeat ahead of their Q1 earnings report due tomorrow. The Supreme Court dismissed telcos' plea for AGR recomputation, dealing a blow to Vodafone Idea. A division bench of the Karnataka high court dismissed Flipkart and Amazon's petition against a CCI probe. In other news, the NCLAT refused to stay the resolution of DHFL. Asian stocks were mixed at close.

23 Jul 2021, 03:55:57 PM IST

Rupee pares early losses, settles 6 paise higher at 74.40 (provisional) against US dollar

23 Jul 2021, 03:55:13 PM IST

Gold climbs ₹256; silver jumps ₹662

Gold in the national capital on Friday rose 256 to 46,698 per 10 gm amid supportive global trends, according to HDFC Securities. The precious metal had in the previous trade closed at 46,442 per 10 gm. Silver also jumped 662 to 66,111 per kg, from 65,449 per kg in the previous trade. In the international market, gold was trading in the green at $1,808 per ounce and silver was flat at $25.33 per ounce. (PTI)

23 Jul 2021, 03:46:10 PM IST

Market closing

The Sensex closed at 52,975.80, up 138.59 points or 0.26%, while Nifty was at 15,856.05, up 32.00 points or 0.20%. Auto, media were top drags while banks, realty were top gainers. On the 30-share Sensex, ICICI Bank, ITC, SBI, and 13 other stocks closed in green, while L&T, RIL, HUL, and 11 other stocks closed in red.

Sensex at close
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Sensex at close
23 Jul 2021, 03:12:51 PM IST

Shriram Housing Finance charts ₹10,000-cr AUM growth map by FY24

Shriram City Union Finance unit Shriram Housing Finance plans to close the loan book at around 5,600 crore this fiscal, and end FY24 at the 10,000-crore mark, managing director and chief executive Ravi Subramanian said in an interview. (PTI)

23 Jul 2021, 03:07:57 PM IST

Tech Mahindra top gainer, Asian Paints drags

Nifty top gainers and losers at this hour
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Nifty top gainers and losers at this hour
23 Jul 2021, 03:05:20 PM IST

Banks, realty outperform

Nifty sectoral indices
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Nifty sectoral indices
23 Jul 2021, 03:03:45 PM IST

Indian Oil to build India’s first green hydrogen plant

State run Indian Oil Corporation Ltd (IOC) on Friday announced its plan to build the country’s first green hydrogen plant at its Mathura refinery.

This push for the new age emission free fuel comes at a time when India, the world’s third-largest oil importer, is recalibrating its energy sourcing playbook keeping its strategic and economic interests in mind. Green hydrogen can be a game changer for India, which imports 85% of its oil and 53% of gas demand.

23 Jul 2021, 03:00:31 PM IST

Crompton Greaves trades lower

Crompton Greaves Consumer Electricals Q1 ebitda was at 1.24 billion compared to 1.01 billion a year ago. The company’s Q1 ebitda margin was at 11.85% compared to 14.05% a year ago.

23 Jul 2021, 02:53:10 PM IST

Delhi HC issues notice to Amazon India on plea against sale of Chinese fashion brand Shein

The Delhi high court on Friday issued notice to e-commerce firm Amazon India on a petition filed against proposed sale of products belonging to Chinese apparel brand Shein during its Prime Day sale, stated a report from legal news portal Live Law. Amazon's Prime Day sale, which will be held on 26 and 27 July, will also include products from Shein among its other 1.2 million sellers. The company has been actively promoting it across platforms. However, Shein was among the 59 Chinese mobile apps that were banned by the government in June 2020 citing threat to the sovereignty and integrity of India. The ban was imposed in the light of the India-China stand-off at Galwan valley in Ladakh.

23 Jul 2021, 02:44:39 PM IST

This Jindal group stock has tripled shareholders' money in one year

Multibagger stocks 2021: In the year 2021, a large number of stocks have delivered more than 100% return. If we look at the multibagger stocks list in 2021, this includes huge number of small-cap and mid-cap stocks that reflects how investors have tried to maximise their return after the fear of first and second wave of covid-19. Among the multibagger stocks in 2021 in India, there is one Jindal group of companies stock — Jindal Stainless. This Jindal group stock has appreciated around 265% in the last one year — tripling share holders' money in this period. (Read here)

23 Jul 2021, 02:22:49 PM IST

Federal Bank gains

Federal Bank on Friday reported a standalone net profit of 367.3 crore, down 8.3% from 400.7 crore in the corresponding quarter of the previous fiscal. The bank's net interest income (NII) rose 9.4% to 1,418 crore as against 1,296 crore year-on-year (YoY). The Gross non-performing assets (NPA) stood at 3.5% during the quarter as against 3.4% in the previous quarter whereas its net NPA came at 1.23% versus 1.19% on a sequential basis. The provisions (other than tax) and contingencies rose to 641.8 crore as compared to 242.3 crore quarter-on-quarter (QoQ) and 394.6 crore YoY. (Read here)

23 Jul 2021, 01:55:15 PM IST

Adani Transmission unit launches $2 bn global MTN programme

Adani Transmission Ltd unit Adani Electricity Mumbai Ltd (AEML) has established a $2 billion global medium-term notes programme (GMTN) for issuance of notes from time to time. Adani Electricity Mumbai Ltd (AEML) on Friday said it has raised $300 million by issuing 10-year sustainability-linked bonds to global investors.

23 Jul 2021, 01:40:15 PM IST

Adani Wilmar may file DRHP by next week: report

Adani Wilmar may file its DRHP for a 5,000 crore IPO as early as next week, CNBCTV18 reported, citing people familiar with the matter.

23 Jul 2021, 01:35:56 PM IST

Mahindra Lifespace gains

The developer's stock was trading at 741.60, up 11.12% at 1:35 pm. The company's board will meet on 28 July to consider a proposal for issue of bonus equity shares.

23 Jul 2021, 01:19:54 PM IST

Syska denies reports of acquisition talks with Crompton Greaves

Syska has denied the news of any discussions with Crompton Greaves about a potential acquisition. "This is in reference to the story dated 23 July 2021 titled 'Crompton Greaves Consumer business is in talks to acquire Syska for around 2,000 crore' published today on CNBC TV18. We at Syska would like to state that the story is misrepresented with grave factual errors. We find the above story highly speculative and completely based on rumours. Hence the story is highly misinformative," the lighting, luminaries, and consumer electronics manufacturer said. Earlier, CNBCTV18 had reported that Crompton Greaves is in talks to acquire Syska with an eye on boosting its lighting vertical.

23 Jul 2021, 01:11:33 PM IST

ICICI Bank, Axis Bank drive Sensex gains

Index contribution
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Index contribution
23 Jul 2021, 12:54:05 PM IST

Britannia Industries to invest ₹94 cr for expansion of its Odisha unit

Britannia Industries Limited Friday announced an investment of 94 crore for the expansion of its manufacturing plant in Odisha's Khurda district to cater to the growing demand for its products across multiple categories. The company has planned to invest 94 crore to add two new manufacturing lines that will increase its capacity by 85%from the current 35,000 metric tonne to 65,000 metric tonne per annum. Chief minister Naveen Patnaik is scheduled to inaugurate the expansion project. (PTI)

23 Jul 2021, 12:49:36 PM IST

ICICI Bank, AXIS Bank lead gains

Nifty Pvt Bank index
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Nifty Pvt Bank index
23 Jul 2021, 12:45:03 PM IST

Sensex heatmap

ICICI Bank, Axis Bank, ITC top gainers at this hour
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ICICI Bank, Axis Bank, ITC top gainers at this hour
23 Jul 2021, 12:36:06 PM IST

Lok Sabha proceedings adjourned for the day amid opposition uproar

23 Jul 2021, 12:26:58 PM IST

J&K Bank, Central Bank of India top drags

Nifty PSU Bank index
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Nifty PSU Bank index
23 Jul 2021, 12:13:46 PM IST

India improves ranking in trade facilitation aided by reforms

India has significantly improved its ranking in terms of trade facilitation due to various reforms undertaken by various departments especially customs under the Central Board of Indirect Taxes (CBIC). India has scored 90.32% in United Nation's Economic and Social Commission for Asia Pacific's (UNESCAP) latest Global Survey on Digital and Sustainable Trade Facilitation, a finance ministry statement said. The survey hails this as a remarkable jump from 78.49% in 2019, it said. The Global Survey on Digital and Sustainable Trade Facilitation is conducted every two years by UNESCAP. The 2021 survey includes an assessment of 58 trade facilitation measures covered by the WTO's Trade Facilitation Agreement. (PTI)

23 Jul 2021, 11:58:37 AM IST

AGR Case: SC dismisses plea by Airtel, Vi for recomputation of dues

Pronouncing its judgment on Bharti Airtel and Vodafone Idea's pleas seeking direction for correction of errors in Adjusted Gross Revenue (AGR) calculation on Friday, the Supreme Court (SC) dismissed the applications of the two telecom companies for the recomputation of AGR dues demanded by the Department of Telecommunication (DoT). Shares of Vodafone Idea plunged nearly 10% to 8 per share post the verdict that came as a setback for the telcos, whereas that of Bharti Airtel was trading over 1% lower at 539 apiece on the BSE. (Read here)

23 Jul 2021, 11:50:08 AM IST

Mphasis commentary: Jyoti Roy - DVP- Equity Strategist, Angel Broking

"Mphasis reported a 6.1% quarter-on-quarter (q-o-q) growth in revenues to $363 million which was ahead of expectations. In rupee terms, revenue grew by 6.6% q-o-q to 2,690.8 crore while gross profits declined by 2.6% q-o-q to 716.6 crore due to increase in manpower costs. Operating profit for the quarter was up by 5.3% q-o-q due to tight control in SG&A expenses. Net profit was up by 7.2% q-o-q to 339.7 crore. Overall the Q1FY22 numbers were above street estimates led by solid beat on topline growth as a 9.8% q-o-q constant currency growth in the direct business more than offset a 18.1% q-o-q decline in DXC business. The company reported record direct TCV wins at USD 505mn for the quarter of which 85% came from new-gen technologies. Post the Q1FY22 results concerns over degrowth in the DXC business have been addressed as the direct channel has more than offset loss from the DXC channel over the past few quarters. Moreover, the contribution from the DXC business has now come down to 9% of overall revenues as compared to over 25% of revenues a few years back. We continue to maintain our positive stance on Mphasis post the Q1FY22 results."

23 Jul 2021, 11:33:34 AM IST

Zomato analysis: Jyoti Roy - DVP- Equity Strategist, Angel Broking

"The Zomato IPO received great response from investors and was subscribed ~ 38 times which translated to a blockbuster listing for the stock. The stock listed at more than a 50% premium to the issue price of Rs. 76 and continued to move up from there given strong demand. We had given a subscribe rating to the IPO. Given strong delivery network, high barriers to entry, expected turnaround and significant growth opportunities in tier-II and tier-III cities we continue to remain positive on the stock from a long term perspective. Post the stellar listing, we recommend that short-term investors that were looking for listing gains can exit the stock while long-term investors can book partial profits."

23 Jul 2021, 11:17:18 AM IST

NCLAT refuses to delay implementation of DHFL resolution plan

The National Companies Law Appellate Tribunal has dismissed pleas to stay the implementation of Piramal Enterprises' resolution plan for troubled non bank lender Dewan Housing and Finance Corp. Ltd. Debenture holder 63 Moons had filed a petition challenging the resolution plan.

23 Jul 2021, 11:02:33 AM IST

Karnataka HC dismisses Amazon, Flipkart appeal against CCI probe

23 Jul 2021, 10:56:04 AM IST

JPC to ask for extension till first week of Winter session for Personal Data

India’s upcoming Personal Data Protection (PDP) bill will not be discussed at the ongoing monsoon session of the Parliament. According to the business list of the Lok Sabha, BJP Member of Parliament, P.P. Chaudhary will ask for an extension to present its report on the bill today. “That this House do extend upto the first week of the Winter Session of Parliament, 2021, the time for presentation of the Report of the Joint Committee on the Personal Data Protection Bill, 2019," the revised list of business for Parliament states," the business list said.

23 Jul 2021, 10:44:12 AM IST

Supreme Court dismisses telcos' plea to recalculate AGR dues

BSE Telecom index
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BSE Telecom index
23 Jul 2021, 10:42:48 AM IST

COVID-19: India reports 35,342 fresh cases, 483 new fatalities

With a single-day rise of 35,342 cases, India's covid-19 tally climbed to 3,12,93,062 on Friday, while 483 more fatalities pushed the death toll due to the viral disease to 4,19,470, according to the Union health ministry. The number of active cases has declined to 4,05,513, accounting for 1.3 per cent of the total caseload and the national covid-19 recovery rate was recorded at 97.36 per cent, the ministry's data updated at 8 am showed. A decline of 3,881 cases was recorded in the active covid-19 caseload in a span of 24 hours.

23 Jul 2021, 10:33:09 AM IST

Rupee falls 9 paise to 74.55 against US dollar in early trade

The Indian rupee depreciated 12 paise to 74.58 against the US dollar in opening trade on Friday tracking a firm American currency. At the interbank foreign exchange, the rupee opened at 74.55 against the dollar, then fell further to 74.58, registering a fall of 12 paise over its previous close. On Thursday, the rupee had settled at 74.46 against the US dollar. The Indian Rupee started on a weak note this Friday as investors await fresh cues, Reliance Securities said in a research note.

23 Jul 2021, 10:14:05 AM IST

Info Edge gains on Zomato listing

Info Edge's stock was trading at 5,292.35 apiece, up 1.27% at 10:10 am. Zomato, in which Info Edge holds a 15% stake, listed today on the bourses and has raced to an mcap of 1 trillion with its listing price zooming over 80% to 138.00 apiece.

23 Jul 2021, 10:09:45 AM IST

Zomato's mcap crosses ₹1 trillion

23 Jul 2021, 10:09:45 AM IST

Mphasis stock up 10% on record deal wins in June quarter

Mphasis Ltd's stock surged 10% on the NSE in Friday's opening trade to hit a new 52-week high of 2,637. The IT services provider saw stellar performance in the June quarter. In constant currency terms, its revenue grew 5.9% on a sequential basis, ahead of analysts' expectations. Revenue growth was led by its Direct business vertical, while the DXC revenue declined on a sequential basis ans remains a pain point. DXC forms around 9% of Mphasis' overall revenue.

On the deal wins front, its saw robust deal booking as of USD505 million in the quarter, up 92% year-on-year with 85% of deal wins in new Generation services. According to the company's management this is the highest ever deals won in a quarter. However, the company won six clients in the quarter compared to eight in Q4FY21.

23 Jul 2021, 10:03:03 AM IST

Zomato makes steady stock markets debut, list at 53% premium

Shares of Zomato made a steady debut on Friday. The food delivery unicorn was listed at 116, 52.63% premium over issue price of 76. The much hyped initial public offer (IPO) of Zomato was subscribed 40.38 times. The offer received bids for 29.04 billion equity shares against IPO size of 719.23 million equity shares. The IPO, which aimed to raise 9,375 crore at the top of the price band of 72-76, opened for subscription on 14 July. It has already raised 4,196 crore via anchor investment, where marquee investors were allotted 552.17 million shares at 76 each. (Read here)

23 Jul 2021, 09:58:15 AM IST

JSW Steel gains, Asian Paints drags

Nifty top gainers and losers at this hour
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Nifty top gainers and losers at this hour
23 Jul 2021, 09:54:19 AM IST

Biocon trades lower

Biocon Ltd's stock was trading at 398.10 apiece, down 1.17% at 9:48 am. Q1 total sales revenues on consolidated basis was at 1,761cr, up 3.94% year-on-year. Revenues were down 4.42% from 1,842 crore Q4 on a sequential basis.

23 Jul 2021, 09:43:44 AM IST

Zomato CEO's letter to shareholders on day of listing. Full text here

After receiving a phenomenal response from the investors for its IPO, Zomato founder and chief executive Deepinder Goyal on Friday wrote a letter to shareholders. CEO's letter comes on the same day when Zomato is getting listed on the Indian bourses. The food delivery giant has preponed its listing date by two days to July 23. (Read here)

23 Jul 2021, 09:39:47 AM IST

IT, metals in green

Nifty sectoral indices
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Nifty sectoral indices
23 Jul 2021, 09:35:55 AM IST

Shipping Corporation of India opens virtual data room for bidders

  • Actively negotiating purchase of two LPG vessels
  • Name of bidders confidential

23 Jul 2021, 09:27:57 AM IST

Market opening

The Sensex opened at 52,925.55, up 88.34 points or 0.17%, while Nifty was at 15,856.80, up 32.75 points or 0.21%. All sectors opened in green. All eyes will be on RIL’s Q1 earnings, Zomato’s listing today. On the 30-share Sensex, Ultratech, Bajaj Auto, Titan, and 22 other stocks opened in green, Bajaj Finserv, NTPC, Bajaj Finance, Sun Pharma, and Infosys opened in red.

Sensex at open
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Sensex at open
23 Jul 2021, 09:05:59 AM IST

IMD predicts heavy rainfall from July 23-26 in these states

The weather monitoring agency has predicted heavy to very heavy rainfall over Uttar Pradesh on July 25 (Sunday) and July 26 (Monday). As per the India Meteorological Department (IMD), scattered to fairly widespread rainfall would also occur over plains of northwest India during the next three days. Under its influence, fairly widespread to widespread rainfall with isolated heavy rainfall very likely over Himachal Pradesh and Uttarakhand on July 23 (Friday) and enhanced rainfall activity with isolated heavy to very heavy rainfall on July 25 and July 26, IMD added. (Read here)

23 Jul 2021, 08:48:44 AM IST

Tatva Chintan IPO allotment date, latest GMP and more details

Tatva Chintan IPO: After record subscription of over 180 times of the original offer, Tatva Chintan Pharma IPO (Initial Public Offer) became the second most subscribed IPO in 2021 after MTAR Technologies. Now, bidders are eagerly waiting for the share allotment date as market observers are expecting huge listing gain from the initial offer. As Tatva Chintal IPO allotment date is fast approaching, Tatva Chintan IPO GMP (grey market premium) has become steady now. Tatva Chintan shares are available at 860 to 900 premium in the grey market today. So, there is no change in the grey market premium of the public issue today. (Read here)

23 Jul 2021, 08:40:15 AM IST

India breaks into the top 10 list of agri produce exporters

India broke into the top 10 list of agricultural produce exporters in 2019 with a sizeable share in the export of rice, cotton, soya beans and meat, according to a World Trade Organization (WTO) report on the trends in world agricultural trade in the past 25 years. (Read here)

23 Jul 2021, 08:25:32 AM IST

Market opening

Markets are likely to be volatile on Friday, while trends in SGX Nifty indicated a slow start of Indian benchmark indices. On Thursday, the BSE Sensex ended at 52,837.21, up 638.70 points or 1.22%. The Nifty ended at 15,824.05, up 191.95 points or 1.23%. (Read here)

23 Jul 2021, 08:17:23 AM IST

RBI digital currency in the works: deputy guv

The Reserve Bank of India (RBI) is currently working on a phased implementation strategy for a central bank digital currency (CBDC) and examining use cases to ensure that there is little or no disruption, deputy governor T. Rabi Sankar said on Thursday. According to Sankar, some key issues are whether CBDCs should be only used in retail payments or in wholesale payments too; whether it should be a distributed ledger or a centralized ledger; whether it should be issued directly by the RBI or through banks and the degree of anonymity such a currency would provide. (Read here)

23 Jul 2021, 08:05:24 AM IST

AGR case: Supreme Court may decide on recalculation of dues today

The Supreme Court will pronounce its judgment on Airtel, Vodafone-Idea's pleas seeking direction for correction of errors in Adjusted Gross Revenue (AGR) calculation on 23 July 2021. The SC bench headed by Justice LN Rao is likely to pronounce judgment tomorrow at 10:30 am. The verdict was slated to be pronounced today but was cancelled at the last hour. (Read here)

23 Jul 2021, 08:05:24 AM IST

Stocks to Watch

Adani Ports, Bajaj Auto, BPCL, HUL, Vodafone Idea, among other stocks, may be in the news today. (Read here)

23 Jul 2021, 07:54:58 AM IST

Zomato’s market debut to test appetite for India’s new tech generation

For over a decade, Deepinder Goyal’s Zomato Ltd. has delivered soul food from spicy dosa crepes to soft bread Pav Bhaji with curried vegetables to millions across India. Investors will now get a taste of the fast-growing food delivery giant when it debuts Friday after a $1.3 billion initial public offering. (Read here)

23 Jul 2021, 07:54:58 AM IST

Bitcoin above $32,000, ether, dogecoin continue to surge. Check crypto p

In cryptocurrencies, Bitcoin prices today continued to trade above the $32,000 level, bouncing back after sliding below $30,000 earlier in the week, as billionaire Elon Musk said that SpaceX owns the digital token and has no plans to sell it. As per CoinDesk, the world's largest cryptocurrency by market capitalization was up over 2% to $32,705.39. (Read here)

23 Jul 2021, 07:42:59 AM IST

Asia stocks steady

Asian stocks were steady Friday and U.S. equity futures climbed after earnings optimism helped Wall Street edge toward an all-time high despite mixed economic data. A gauge of the dollar held a recent decline. South Korean shares rose but Hong Kong and China dipped. Japan is shut for a holiday. U.S. contracts were up after the S&P 500’s biggest three-day advance since April took it nearer a new peak. Technology firms like Microsoft Corp. rallied and cyclicals lagged. Twitter Inc. jumped on an upbeat outlook and the Nasdaq 100 reached a record.

S&P 500 futures were up 0.3% as of 11:40 a.m. in Sydney. The S&P 500 rose 0.2%

Nasdaq 100 futures climbed 0.4%. The Nasdaq 100 rose 0.7%

Australia’s S&P/ASX 200 index was little changed

South Korea’s Kospi index added 0.3%

Hong Kong’s Hang Seng index dipped 0.6%

China’s Shanghai Composite index shed 0.4%

SGXC Nifty climbed 0.19%

23 Jul 2021, 07:33:20 AM IST

Wall Street indices close higher

US stock markets closed higher after a mixed trading session as investors digested negative economic data reflecting the country's struggle to move past the covid-19 pandemic, while yields on safe-haven assets such as US Treasuries slipped. All three major US stock indexes ended in the green and within 1% of record closing highs, thanks in part to Big Tech. The Dow and S&P 500 fell earlier in the day on the number of Americans filing new claims for unemployment benefits. The dollar also rose after it slid earlier in the trading session. The dollar index, meanwhile, rose 0.1% to 92.852. The U.S. currency hit its highest level in more than three months on Wednesday.

Yields on U.S. Treasuries eased after the auction of $16 billion in 10-year TIPS was bid at a record low. The yield on 10-year Treasury notes US10YT=RR fell 2.2 basis points to 1.260%.


The Dow Jones Industrial Average rose 25.35 points, or 0.07%, to close at 34,823.35

The S&P 500 gained 8.79 points, or 0.20%, to end the day at 4,367.48

The Nasdaq Composite added 52.64 points, or 0.36%, to close at 14,684.60.

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