Indian markets open in the green – RIL, M&M gain while Nifty IT, Infosys decline
- The Indian stock markets opened on a positive note on July 22 even as Japan, Australian and South Korean markets reported a mixed performance.
- Trends on
SGX Niftyshowed an increase of 27 points, suggesting that Niftycould open slightly in the green amid volatility in other Asian markets. Reliance Industries, ITC, UltraTech Cement, ICICI Bank and Infosyscould be among the top stocks to watch out for on July 22.
AdvertisementIndian stock markets could open on a volatile note on July 22 after their Asian peers in Japan, Australia and South Korea experienced mixed performance. On the other hand, Nasdaq and S&P 500 futures declined.
SGX Nifty, an early barometer of what can happen in the Indian stock markets, was up 27 points or 0.16% as of 8 am today.
The European Central Bank also raised interest rates for the first time in 11 years, with a 0.5% hike announced yesterday.
Here are some of the stocks which will likely be in focus today:
The Mukesh Ambani-led conglomerate will declare its June quarter results today. It is expected to post a strong earnings growth in the June quarter thanks to higher refining margins.
The USFDA concluded a pre-approval inspection of its Hyderabad plant with three observations. The company says it will address this within the stipulated time.
The tobacco-to-paper giant revived plans to spin off its hotel business. Its chairman
Reported a 47% year-on-year decline in net profit to ₹47 crore while revenue grew 7% to ₹226 crore in the same period.
Reported a 179% increase in net profit to ₹560 crore year-on-year while revenue surged 68% to ₹3,115 crore in the same period. EBITDA surged 34% to ₹1,111 crore.
AdvertisementBounced back in the green with a profit of ₹201 crore in the June quarter, as against a loss of ₹459 crore in the same period last year, largely due to an 82% fall in provisions. Net interest income grew 6% to ₹1,028 crore.
Reported a 61% drop in its net profit to ₹9 crore year-on-year, as high raw material prices had a large adverse impact on its bottom line. Revenue surged 48% in the same period to ₹2,818 crore.
The Hyderabad-based software company reported a marginal increase of 0.9% in net profit to ₹116 crore, while revenue increased 18% to ₹1,250 crore.
Reliance Industries, UltraTech Cement, JSW Steel, Coforge, Bandhan Bank, Crompton Greaves Consumer Electricals, Mahindra CIE Automotive, among others.
Earnings on July 23
ICICI Bank, Kotak Mahindra Bank, Yes Bank, Coastal Corporation, Steel Exchange India, among others.
Earnings on July 24
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