In a promising start to the holiday-truncated trading week, benchmark indices settled with decent gains as a fall in oil prices and buying in auto stocks boosted investor sentiment. Traders also continued to monitor corporate earnings while assessing the risk of recession in the US. The 30-share pack Sensex advanced 465.14 points or 0.80 per cent to close at 58,853.07. Its broader peer, Nifty50, added 127.60 points or 0.73 per cent to close comfortably above the 17,500 mark. The benchmark has managed to close above 17,500 for the first time since April 12, 2022.
!1 New UpdateClick here for latest updates
Yatharth Hospital gets Sebi’s go ahead to launch IPO
Yatharth Hospital & Trauma Care Services Ltd has received capital markets regulator Sebi’s go ahead to float an initial public offering (IPO). The company operates three super specialty hospitals in Delhi-NCR. It recently expanded to Madhya Pradesh.Yatharth Hospital’s IPO consists of a fresh issue of equity shares aggregating up to Rs 610 crore and an Offer For Sale (OFS) offer for sale of up to 65.51 lakh equity shares by the company’s promoters and promoter group entities, according to the draft red herring prospectus (DRHP).
AIRTEL Q1 RESULTS: Telecom major Bharti Airtel today reported a 466.8 per cent YoY jump in its Q1 profit at Rs 1,607 crore against Rs 284 crore in the year-ago period. The numbers, however, missed the analyst estimate of Rs 2,451 crore. The company’s consolidated revenue was up 22.2 per cent YoY to Rs 32,805 crore. Airtel’s ARPU or average revenue per user for the quarter came in at Rs 183 compared to Rs 146 in Q1’22.
#EarningsWithETNOW | #BhartiAirtel's Q1FY23 – Cons PAT at Rs 1607 cr vs ET NOW poll of Rs 2,451 cr – Cons revenue… https://t.co/DsWAkeh6li
— ET NOW (@ETNOWlive) 1659957497000
Rupee Check
Rupee falls 40 paise to close at 79.64 (provisional) against US dollar
— Press Trust of India (@PTI_News) 1659954153000
Sustained FII buying and falling oil prices are the major drivers for the ongoing market rally. Heavyweights played a significant role in today’s rise, while PSU banks remained under pressure following weak results of the PSB major. Western markets continued to gain after strong US job numbers allayed worries of a recession. The week ahead is busy in terms of economic data with the domestic investors gearing up for the release of the inflation numbers along with the manufacturing production data to gauge the strength of the economy
– Vinod Nair, Head Of Research at Geojit Financial Services
IT, PSU Bank indices only sectoral losers in trade today
The Nifty has moved above its recent consolidation as the bullish momentum continues. The index has closed above the previous congestion levels on the daily chart, which suggests rising strength. The trend is likely to remain bullish over the short term as long as it remains above the 200DMA, which is placed at 17000. On the higher end, the index may move towards 17750-17800.
– Rupak De, Senior Technical Analyst at LKP Securities
Closing Bell: Sensex ends 465 pts higher; Nifty reclaims 17,500; JSW Energy zooms 10%, Paytm 7%
Fincare Small Finance Bank refiles draft IPO papers with Sebi
Fincare Small Finance Bank has refiled preliminary papers with Sebi to raise funds through an Initial Public Offering (IPO). This fresh filing comes as the capital markets regulator’s one-year approval given to the lender to launch an IPO expired last month. Under the rules, a firm gets one year to hit the primary market after receiving an approval from Sebi. In case a firm fails to launch IPO during this period, it has to refile the prospectus with the Securities and Exchange Board of India (Sebi) seeking fresh clearance.
AMFI JULY DATA
-Net inflow at Rs 23,604 cr vs outflow of Rs 69,853 cr MoM
-Equity inflow at Rs 8,898 cr vs inflow of Rs 15,498 cr MoM
-SIP inflow at Rs 12,140 cr vs inflow of Rs 12,276 cr MoM
Private lenders IDFC First Bank and Yes Bank and state-owned Indian Bank have put their loans to SpiceJet Ltd in the high-risk category, in the latest setback for the airline, people with knowledge of the matter said. The lenders are concerned about SpiceJet’s cash flows and have held discussions seeking assurances from the Indian budget carrier, as it is behind on payments to some aircraft lessors, the sources said. SpiceJet said that no bank has put its account on high alert.
Price as on 08 Aug, 2022 03:13 PM, Click on company names for their live prices.
HFCL Limited announced today that it has entered into an agreement with Qualcomm Technologies, Inc. for HFCL’s design and development of 5G millimeter wave (mmWave) FWA (Fixed Wireless Access) CPE (Customer Premise Equipment) products. In continuation with its 5G product strategy, HFCL is expanding its 5G product portfolio by launching product development of 5G mmWave FWA CPE products for India and global markets.
Price as on 08 Aug, 2022 03:12 PM, Click on company names for their live prices.
JUST IN: IDFC, Indian Bank, Yes Bank put SpiceJet loans on high-risk
Price as on 08 Aug, 2022 03:12 PM, Click on company names for their live prices.
Adani Ports Q1 Results
- PAT at Rs 1,072 crore vs ET Now Poll at Rs 1,256 crore
India’s government may in ‘due course’ decide on re-initiating the process to privatise Bharat Petroleum Corp, ET Now reported citing agencies, after lack of interest by companies led to New Delhi scrapping its plan to divest the state-run refiner earlier this year.
Price as on 08 Aug, 2022 02:13 PM, Click on company names for their live prices.
Sensex contributors behind 500-point rally
Top 5 gainers from the metal pack
Price as on 08 Aug, 2022 02:00 PM, Click on company names for their live prices.
European shares bounce as cyclicals, growth stocks find footing
European shares opened higher on Monday, led by cyclical and growth stocks, after clocking falls in the previous week when a strong U.S. jobs report rekindled bets of another aggressive rate hike by the U.S. Federal Reserve. The pan-European STOXX 600 index added 0.8%, steadying after snapping two weeks of gains on Friday. Miners, technology and autos, among the hardest hit in the previous week, led early gains on Monday.
Shares of IRB Infrastructure developers zoomed over 6 per cent to hit an intraday high of Rs 264.8 in early trade on Monday after the company posted a strong set of numbers for the quarter ended June 2022.
Price as on 08 Aug, 2022 01:30 PM, Click on company names for their live prices.
Q1 EARNINGS PREVIEW: Adani Ports
#EarningsWithETNOW | Ahead of @AdaniPorts Q1FY23 numbers, take a look at the ET NOW Poll @AdaniOnline… https://t.co/KvPNg12tNv
— ET NOW (@ETNOWlive) 1659945449000
Cash-strapped Vodafone Idea (VIL) said that incremental tariff hikes are crucial to improving industry health as the sector operates at unsustainably low prices and average revenue per user (ARPU) remains lower than historical trends.
Price as on 08 Aug, 2022 01:11 PM, Click on company names for their live prices.
Alembic Pharmaceuticals on Monday said its wholly-owned arm Aleor Dermaceuticals has received final approval from the US health regulator for its generic version of a topical gel used to treat acne vulgaris. The approval by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application (ANDA) for adapalene and benzoyl peroxide topical gel of strength 0.3 per cent/2.5 per cent, Alembic said in a statement.
Price as on 08 Aug, 2022 01:04 PM, Click on company names for their live prices.
Top losers in the IT software sector
Price as on 08 Aug, 2022 12:42 PM, Click on company names for their live prices.
Sensex surges 450 points, nears 59,000
Nykaa management post June quarter show
#EarningsWithETNOW | Anchit Nayar of @MyNykaa says – We're now entering the 'festive half' of the year – Cautious… https://t.co/5uagmFL8lV
— ET NOW (@ETNOWlive) 1659940964000
Stocks at 52-week high
SoftBank posts $23 billion loss in first quarter
SoftBank Group Corp on Monday posted a 3.16 trillion yen ($23.37 billion) net loss in the April-June quarter. That compared with profit of 761.5 billion yen in the same period a year earlier.
These stocks gain in line with market mood, jump up to 7%
Price as on 08 Aug, 2022 11:26 AM, Click on company names for their live prices.
STOCK IN FOCUS: NTPC
#StocksInNews | @ntpclimited exploring setting up nuclear power capacity #StockMarket #StocksToWatch #NTPC https://t.co/lZDIwYyh7H
— ET NOW (@ETNOWlive) 1659936955000
Pharma stocks weak, fall up to 4%
Price as on 08 Aug, 2022 11:08 AM, Click on company names for their live prices.
Paytm rises 6% after strong operational performance in Q1
Shares of One97 Communication, the parent company of Paytm, rallied as much as 6 per cent during the early trade on Monday after the company reported a better-than-expected performance in the June 2022 quarter. The digital financial services provider said its net loss widened year-on-year (YoY) to Rs 644.4 crore in the June quarter of the current fiscal against a loss of Rs 380.2 crore in the corresponding quarter of the last fiscal year. Paytm, however, reported an 89 per cent increase in revenue on a YoY basis to Rs 1,679.6 crore. It said the revenue growth was driven by strong monetization in payments, device subscriptions and accelerated adoption of high-margin businesses.
Tata Motors has inked a pact to acquire Ford India’s Sanand-based manufacturing plant for Rs 725.7 crore, as it aims to bolster its passenger vehicle production capacity. As part of the deal, Tata Motors will get the entire land and buildings, vehicle manufacturing plant along with machinery and equipment situated therein, the Mumbai-based auto major said in a statement.
Price as on 08 Aug, 2022 10:48 AM, Click on company names for their live prices.
Syrma SGS Tech IPO to open on Aug 12; price band fixed at Rs 209-220 apiece
After a break of nearly three months, the primary market is likely to get some mojo back as the initial public offering (IPO) of Syrma SGS Technology will open for subscription on…
Read More: Sensex Today: Market Closing Bell: Sensex ends 465 pts higher; Nifty reclaims 17,500; JSW