HDFC, PNB, Maruti Suzuki, Indian Oil, Tata Motors, Britannia, Tejas Networks stocks in focus

Analysts say that the short term trend of Nifty remains choppy.

Nifty futures were trading 104 points or 0.66 per cent higher at 15,878 on Singaporean Exchange, suggesting a strong start for BSE Sensex and Nifty 50 on Monday. In the previous session, the 30-share Sensex slipped 66 points or 0.13 per cent to end at 52,586, while the Nifty 50 dropped 15 points or 0.10 per cent to close at 15,763. This week, stock markets will take cues from macroeconomic data, quarterly earnings, and RBI interest rate decision. Analysts say that the short term trend of Nifty remains choppy. “Present lack of strength to sustain the highs could open another round of small weakness in the early part next week, before showing a sustainable upside bounce from the lows. The crucial lower supports to be watched at 15600 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stocks to watch

HDFC: Punjab National Bank (PNB), Varun Beverages, Housing Development Finance Corporation, Emami, Castrol India, Carborundum Universal, RBL Bank, CG Power and Industrial Solutions, Balaji Amines, Shree Renuka Sugars, Capri Global Capital, Orient Cement, Kalyani Steels and Nahar Spinning Mills, others will will announce their quarterly earnings on 2nd August.

Maruti Suzuki: Maruti Suzuki reported a 50 per cent increase in sales at 1.62 lakh units in July this year. The company had sold 1.08 lakh units in July last year.

NTPC: NTPC reported a 27.3 per cent on-year increase in its standalone net profit to Rs 3,145.6 crore in the three months ended June. The company’s board has approved the proposal to raise Rs 18,000 crore through bonds from the domestic market in the ongoing fiscal.

Tejas Networks: Tata Sons arm Panatone Finvest has purchased 16.8 per cent equity shares of domestic telecom equipment maker Tejas Networks for around Rs 404 crore. “This is to inform you that we, Panatone Finvest Limited, has acquired 1,56,97,667 equity shares of Tejas Networks Limited on July 30, 2021,” Panatone Finvest said in a regulatory filing.

Bandhan Bank: Private sector lender Bandhan Bank reported a 32.14 per cent on-year fall in net profit to Rs 373.08 crore in the first quarter of the current fiscal year on the back of additional provisions on non-performing assets (NPAs) and accelerated provisions on standard assets for potential impact of Covid-19.

Indian Oil Corporation: IOCL reported a net profit of Rs 5,941.4 crore on a standalone basis for the quarter ended June 30, recording a 210.9 per cent rise from the same period a year ago.

Tata Motors: Tata Motors’ sales in the domestic and international market for July 2021 stood at 54,119 vehicles, compared to 27,711 units during July 2020.

Britannia Industries: Britannia Industries reported lower profit at Rs 387 crore in the first quarter of FY22 against Rs 542.7 crore in the corresponding quarter of the previous fiscal, revenue fell to Rs 3,403.5 crore from Rs 3,421 crore on-year.