Sensex and Nifty posted two consecutive daily lows on Tuesday, helping consumer, banking, and auto markets rally amid mixed global cues. The Sensex rose 257 points to 59,031, while the Nifty gained 87 points to 17,577. M&M, Bajaj Finserv, Titan, and Tata Metal are the top Sensex gainers at 3.78%. Top Sensex losers were TCS, Infosys, HCL Tech, and HUL, down 2.10%.
Adani Enterprises, NDTV: Broadcaster Adani Group on Tuesday said it will not buy a 29.18 percent stake in broadcaster New Delhi TV (NDTV) outright, paving the way for a merger that will take the stake to another 26 per cent. . in media organizations.
On Friday, the company will receive 2,000 crore dinars from the issue of non-redeemable debentures, which is not the basis for an IPO.
Procter & Gamble maintains purity and prosperity:
The FMCG retailer reported a 13.12% decline in profit after tax (PAT) to Rs 42.55 crore in the first quarter due to a rise in commodity prices. The company disclosed Rs 48.98 crore in the last three months.
Dunearn Investments (Mauritius), a subsidiary of Temasek Holdings, is offering Deviani Worldwide 2.18% or 2,63,29,516 shares of the franchisee of Yum Manufacturers in India for Rs 118. million through open market sales
APL Apollo Tubes:
The company has set a “record date” of Monday, September 5, 2022, to determine the rights of shareholders entitled to an additional dividend for the fiscal year ending March 31, 2022.
Tata Consultancy Companies (TCS) has denied media reports that the company had deferred higher payments to senior employees in the first quarter of the 2022-23 financial year.
Companies to watch: TCS, Tata Motors, Mahindra Avakas, D-Mart, Adani Group
Stocks to Watch Now:
TCS’s net income rose 5.2 percent (YoY) to Rs 9,478 crore in Q1FY23. Tata Motors has increased the prices of its passenger cars by 0.55%.
Stocks to Watch Today:
The Indian stock market opens on a mixed note among international indices. At 7:24 am, the SGX Nifty futures were trading at 16,148 levels, down 50 points from the Nifty 50.
Later this week, inflation news, the June 2022 quarter (Q1FY23), movements in exchange rates, and oil prices will weigh on speculation. ACC, HCL Technologies, Jindal Steel & Power, Mindtree, Federal Bank, and HDFC Bank will announce their first quarter numbers next week.
Meanwhile, here are some of the stocks that saw action in Monday’s trading.
The IT giant reported a strong June quarter (Q1FY23) with revenue up 5.2% YoY (year-on-year) and 2.5% to Rs 9,478 crore. Meanwhile, the company grew 16.2% year-on-year to Rs 52,758 crore. In addition, it increased by 19.7% in the first quarter of the 23rd financial year and 17.4% in the 23rd quarter of the financial year.
The price of passenger cars across all models has been increased by 0.55 percent to compensate for the increase in prices. Read more
Billionaire Gautam Adani is planning a surprise entry into the competition of telecom giants Mukesh Ambani’s Reliance Jio and Bharti Airtel’s Sunil Mittal. The Adani Group has also reportedly entered the broadband market to offer 5G mobile services with Jio, Airtel, and Vodafone Idea. Read more