Sensex adds 123 pts, Nifty tad below 16,300; Bharti Airtel jumps 4%, ITC 3%

The BSE MidCap added 0.10 per cent but the BSE SmallCap index slipped 0.43 per cent

2:59 PM

RBI monetary policy :: What is the Street factoring-in?

>> The inflation outlook for FY22 could also see a revision from the predicted levels of 5.1 per cent.

 

>> RBI is likely to watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy.

 

>> The fear of the third wave would also force the RBI to continue with the growth supporting measures.

 

>> Inflation rates, liquidity concerns, and Governor Shakitkanta Das’ commentary will be in more focus during this.

Views by: Heena Naik, Research Analyst - Currency, Angel Broking Ltd

2:48 PM

JUNE QUARTER RESULTS :: GAIL INDIA

Revenue: Rs 17,588 crore 

PAT: Rs 2,138 crore

(Numbers on a consolidated basis)

2:36 PM

Global markets :: Earnings lift European stocks to all-time highs ahead of BoE decision

European stocks hit record highs on Thursday, as strong earnings from Novo Nordisk and Siemens helped outweigh weakness in miners and banking shares, with investors eyeing a policy decision from the Bank of England later in the day.

The pan-European STOXX 600 inched up 0.3%, extending gains that took the index to all-time highs this week.

European stocks are on course for their strongest weekly performance in three months, as upbeat quarterly earnings and loose monetary policy supported markets despite a surge in COVID-19 cases and concerns about inflationary pressures.

Source: Reuters

2:27 PM

Stock of this textile company has zoomed 127% in a month

Sportking India manufactures cotton, cotton polyester blended and acrylic-blended yarn in grey and dyed forms with an installed capacity of 272,880 spindles. The garments are retailed by Sportking Group companies under the Sportking and Mentor brands, through both exclusive and multi-brand stores. READ MORE

2:15 PM

Broader market :: BSE SmallCap index underperforms, down 0.6%

2:04 PM

July Auto Sales :: Tata Motors in focus

>> JLR UK sales down 46.6% at 4,528 units Vs 8,476 units (YoY)

>> Jaguar UK sales down 53.1% at 1,288 units Vs 2,746 Units (YoY)

>> Land Rover UK sales down 43.4% at 3,240 units Vs 5,730 units (YoY)
 

1:48 PM

June quarter results :: HIKAL

>> PAT: Rs 50.5 crore

>> Revenue: Rs 454 crore

1:46 PM

Exxaro Tiles IPO subscribed over 7 times on Day 2

1:46 PM

IPO Alert :: Devyani International's Rs 1,800-cr issue subscribed over 4x so far

1:28 PM

Analysts revise SBI target price post Q1, but Voda Idea overhang remains

Concerns over Vodafone Idea's existence and worries that the telecom services provider may go belly up in the absence of any support from the government hit shares of State Bank of India (SBI) on Thursday. The stock skidded 3 per cent to Rs 443 on the BSE in the intra-day trade. Analysts worry that Voda Idea's precarious position may hit the lender's asset quality going ahead. READ MORE

1:20 PM

Unilever is said to kick off sale of large part of $5.6-bn tea business

The UK-listed consumer group has reached out to potential suitors and is expecting first-round bids in September, the people said, asking not to be identified discussing confidential information.

 

Deliberations are ongoing and there’s no certainty it’ll decide to proceed with a sale, the people said. Unilever is also considering an initial public offering of the tea business, or a partnership, the company said in a first-half results statement in July. READ MORE

1:04 PM

Mos Aviation says AAI sees air traffic at pre-Covid levels by FY25

>> Indian carriers lost Rs 19,000 crore in FY21

 

>> Indian airports lost Rs 3,400 crore in FY21

(Source: TV Reports, Agencies)

12:53 PM

ALERT :: Nifty surpasses 16,300 for the first time

12:42 PM

Bharti Airtel surges 7%, hits over six-month high

Bharti Airtel is India’s second-largest telecom operator, with a revenue market share of 35 per cent as of Q4FY21. The company has 321 million wireless customers in India and 121 million subscribers across operations in 14 African countries. It enjoys industry-leading ARPU (average revenue per user) and margins in the wireless business. READ MORE

12:27 PM

Beyond rates: Five things to watch out for in RBI's monetary policy

The RBI has continued with an ultra-loose monetary policy that keeps interest rates lower than average inflation while maintaining a huge amount of surplus liquidity. The market wants to know whether the RBI will indicate on Friday when it will start returning to normalcy.

 

What is normal is viewed differently but among other things, it is the gradual withdrawal of liquidity, inching up of overnight rates and narrowing the policy rate corridor. READ MORE