Glenmark Life Sciences, RIL, Airtel, Vodafone Idea, SBI, HDFC Bank, Cipla, rate sensitive stocks in focus

Analysts say that the short term trend of Nifty continues to be positive

Nifty futures were trading 14 points up at 16,324.50 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50 ahead of RBI MPC outcome on Friday. In the previous session, bulls continued to dominate Dalal Street, ending at new all-time high levels for the third consecutive day. Sensex closed at 54,492, while NSE’s Nifty settled at 16,294. Analysts say that the short-term trend of Nifty continues to be positive. “Having moved up sharply in the last few sessions, there is the possibility of consolidation or minor downward correction from the highs near to its breakout points support around 16000-16100 as per the concept of change in polarity. This anticipation is evident after a formation of doji pattern on Thursday at the highs,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stocks to watch

Hindalco, M&M: BSE-listed companies such as Hindalco Industries, Mahindra & Mahindra, Berger Paints (India), Muthoot Finance, Piramal Enterprises, Steel Authority of India (SAIL), Balkrishna Industries Astral, Bharat Electronics, Tata Power, Alkem Laboratories, AU Small Finance and Abbott India, will announce April-June quarter earnings today.

Glenmark Life Sciences: Today, shares of Glenmark Life Sciences will make their Dalal Street debut. The IPO of the company was 44.17 times last month, helping the company raise Rs 1,513 crore.

Reliance Industries Ltd: Reliance Strategic Business Ventures Limited, a wholly owned subsidiary of RIL, has invested Rs 20 crore in equity shares of Neolync. A further investment of up to Rs 40 crore, subject to Neolync achieving agreed milestones, is expected to be completed by March 2023. The total investment will translate into 40% of equity share capital in Neolync on a fully paid up and diluted basis.

Rate sensitive stocks: Rate-sensitive stocks from sectors such as banks, realty and auto will be on investors’ radar. Stocks such as State Bank of India (SBI), Punjab National Bank (PNB), ICICI Bank, HDFC Bank, Maruti Suzuki, Hero MotoCorp, DLF, Oberoi Realty, Godrej Properties, Sobha will remain in focus.

GAIL: GAIL’s net profit surged 183.9% year-on-year (y-o-y) to Rs 2,995.3 crore on a consolidated basis in the quarter ended June 30, as the natural gas marketing business — GAIL’s largest revenue earner — swung to a profit (before interest and tax) of Rs 449.8 crore.

Adani Power: Adani Power posted a consolidated net profit of Rs 278.22 crore in the June 2021 quarter, mainly on the back of higher revenues. The company had reported a consolidated net loss of Rs 682.46 crore in the quarter ended on June 30, 2020.

Vodafone Idea: Amid an existential crisis faced by the company, Vodafone Idea CEO Ravinder Takkar has reached out to employees seeking to reassure them, and has urged the staff to continue focusing on providing quality services to customers and sustain intensity in the market.

Birla Corporation: Birla Corporation reported an over two-fold increase in its consolidated net profit at Rs 141.51 crore in the first quarter ended June 2021. It had posted a net profit of Rs 65.77 crore in the April-June quarter a year ago.

Cipla: Cipla reported a 25.41 per cent increase in its consolidated net profit to Rs 709.92 crore for the quarter ended June 30, 2021, on account of robust sales. The company had posted a net profit of Rs 566.04 crore in the corresponding period of the previous fiscal.

Bharti Airtel: Bharti Airtel on Thursday announced the launch of ‘Airtel Office Internet’ -a solution for the emerging digital connectivity needs of small businesses, SOHOs (Small Office Home Office) and early stage tech startups.