Nifty Analysis for tomorrow: July 2021

Coronavirus News Highlights: Maharashtra sees 225 new COVID-19 deaths, 6,959 cases, 7,467 recoveries

Coronavirus News Highlights: The cumulative number of COVID-19 vaccine doses administered in India has crossed 46.15 crore, according to the Union Health Ministry.

Marico PAT declines 6% in Q1 to Rs 365 crore, revenue from operations jumps 31%

Maricoâ€™s domestic business delivered a turnover of Rs 1,992 crore, up 35 percent on a YoY basis, while its international business registered a turnover of Rs 533 crore, up 20 percent YoY basis with constant currency growth of 21 percent, the company informed.

Gold prices remain steady at Rs 48,400/10 gm; silver rises by Rs 172

The broader range on COMEX could be $1814- 1832 and on the domestic front, prices could hover in the range of Rs 48,050- 48,420.

Exide Industries reports Rs 31.8 crore profit in Q1FY22

Consolidated revenue was Rs 3,542 crore during the quarter under review, against Rs 2,526 crore in the same period of the last fiscal, it added.

Marico Q1 net profit dips 6% to Rs 365 crore; sales up 31% to Rs 2,525 crore

The company had posted a net profit of Rs 388 crore in the April-June period a year ago, Marico said in a BSE filing.

Tata Motors to look at fund raising for EV business, charts 25% sales from battery-powered cars

The Mumbai-based company will launch one or two electric vehicles every year to have a portfolio of 10 such vehicles before 2025.

Bandhan Bank Q1 profit falls 32% at Rs 373 crore; NPA see a sharp spike

Total income however was up 20.4 percent at Rs 2,647.50 crore in the quarter as against Rs 2,198.30 crore in the year-ago period, the bank said in a regulatory filing.

COAI warns mobile users against fraud messages, calls relating to KYC details

COAI cautioned that mischievous elements are sending fake messages and calling people, threatening to block SIM cards.

SC to hear next week Vedanta#39;s plea to continue operating oxygen plant at Tuticorin

On April 27, the top court had allowed Vedanta to operate its closed oxygen plant at Tuticorin, saying the order has been passed in view of national need for oxygen and there should be no political bickering over the generation of the gas by the company as the country is facing a national crisis.

PG appoints Shailesh Jejurikar as the global COO

As COO, Shailesh will have profit/loss responsibility for PG#39;s Enterprise Markets (Latin America, India, Middle East, Africa, Southeast Asia, and Eastern Europe)," PG said in a statement.

Womenâ€™s role in Indiaâ€™s boardrooms more important than ever

Social constructs have forced us to think that women are groomed to fit in certain moulds in a patriarchal society. This not only makes society averse to changes but also cuts down the equal opportunities for women. The economic loss from the lack of female workforce participation is well-documentedÂ

Crude oil prices rise on increasing demand, tight supplies; Brent trades near $75 a barrel

Prices are expected to trade sideways to up for the day with resistance at $75 and support at $72 per barrel.

Aditya Birla Fashion and Retail reports Q1 net loss of Rs 352.15 crore

The company had posted a net loss of Rs 410.36 crore in the same quarter a year ago.

Indian control clause dropped after changes in insurance law, says IRDAI

Under the new structure of 74 percent FDI limit, the majority of directors on the boards and key management positions will be resident Indians with at least 50 percent directors will be independent directors.

Dr Lal PathLabs Q1 net profit zooms nearly 5-fold to Rs 133.7 crore

The company had posted a net profit of Rs 28.4 crore for the corresponding period of the previous fiscal, Dr Lal PathLabs said in a regulatory filing.

JSW Energy Q1 profit down 6% to Rs 201 crore

During the quarter, total revenue stood at Rs 1,860 crore as against Rs 1,887 crore in April-June 2020-21, primarily due to reduction attributable to the impact of job work at the standalone entity, partly offset by increase in long-term sales and other income.

Remain committed to zero debt target by FY24: Tata Motors Chairman N Chandrasekaran at AGM

Though Tata Motors managed to reduce its net automotive debt at the consolidated level in FY21, the same ballooned up to Rs 61,300 crore by end of Q1FY22.

Consumer durable firms expand digital efforts, says Emkay report

The report said over the last few years, Havells has been leading the charge in terms of digitisation, with ~96 percent orders from the trade currently being generated from its digital portal.

British Airways owner IAG airline narrows loss in first half

The London-listed conglomerate said in a statement that it suffered a loss after taxation of 2.0 billion euros ($2.4 billion) in the six months to the end of June.

Euro zone rebounds strongly, inflation above ECB target

The European Union#39;s statistics office Eurostat said on Friday that its initial estimate of gross domestic product in the 19 countries that use the euro currency was growth of 2.0 percent quarter-on-quarter and 13.7 percent year-on-year.

Silver price falls marginally on weak economic data, subdued gold

The spot gold/silver ratio currently stands at 71.58 to 1 indicating that gold has outperformed silver.

Sun Pharma posts Rs 1,444.17-crore net profit in June quarter

The company had posted a net loss of Rs 1,655.60 crore for the corresponding period of the previous fiscal, Sun Pharma said in a regulatory filing.

Indian Oil Corp quarterly profit jumps three-fold

The state-owned company had reported a net profit of 59.41 billion rupees ($798.92 million) in the quarter ending June 30 compared with 19.11 billion rupees a year ago.

Natural gas futures fall over 1.5% on profit booking, support seen at Rs 293 level

The momentum indicator Relative Strength Index (RSI) is at 66.19, which suggests upbeat movement in the price.

US jobless claims down 24,000 to 400,000 as economy recovers

The job market and overall economy have been recovering from the collapse of the spring of 2020.

US economy grew 6.5% in second quarter: Govt

The gain reported by the Commerce Department meant the world#39;s largest economy surpassed its pre-pandemic size, climbing above its level in the fourth quarter of 2019 to $19.4 trillion.

TVS Motor reports consolidated net loss of Rs 15 crore in Q1

The company had reported a net loss of Rs 183 crore in the April-June quarter of the 2020-21 financial year.

Relaxation of restrictions on economic activity opening up job opportunities: Report

The Teamlease Employment Outlook report for the July-September quarter noted that the intent to hire freshers has increased by 7 percent in the current quarter.

Govt says was able to squeeze 4.1 million extra doses of COVID vaccine in May-July from vials

Tamil Nadu, West Bengal and Gujarat are the three states that have extracted maximum number of doses at 0.6 million, 0.5 million and 0.46 million, respectively.

Laurus Labs Q1FY22 net profit surges 40% to Rs 241 crore, led by anti-HIV formulation sales

The earnings before interest, tax, depreciation and ammortisation (EBITDA) margins expanded 210 basis points YoY to 31.3 percent; however, on sequential basis (QoQ), Laurus#39; EBITDA margins were down by 250 basis points.

Crude oil steady amid sharp drawdown of inventory; Choice Broking says prices to rise in the coming week

Technically, WTI Crude oil resistances are at $73.30-$73.95 whereas supports are at $71.65-$70.50.

Kia Motors dealers most satisfied across vehicle categories: FADA

The study, which was undertaken in association with PremonAsia, a consumer-insight led consulting and advisory firm based out of Singapore, took responses of over 2,000 dealers across India seeking their views on six factors of OEM-dealer business relationship â€” viability and policy; product; marketing; sales; aftersales and training, FADA said.

Firstsource Solutions Q1 net profit up 51.8% to Rs 134.5 crore

Its net profit, attributable to owners of the equity, stood at Rs 88.6 crore in the year-ago period, Firstsource said in a statement.

Moneycontrol Pro Panorama | Fed shows its cards to avert a taper tantrum

In todayâ€™s edition of Moneycontrol Pro Panorama: Fedâ€™s taper maths, economy and stress points, Maruti Q1 takes a knock, Elon Muskâ€™s India dreams, natureâ€™s fury, road ahead for Bitcoin investors, and more

ED arrests Ambience Mall owner Raj Singh Gehlot in bank fraud case worth Rs 200 crore

He was arrested in Gurugram and will be produced before a PMLA court in Delhi later today for a remand hearing.

Government to offer 27% reservation for OBC, 10% for EWS in MBBS, PG medical courses

This decision would benefit every year nearly 1,500 OBC students in MBBS and 2,500 OBC students in post-graduation and also around 550 EWS students in MBBS and around 1,000 EWS students in post-graduation.

Virat Kohli#39;s Lovely Professional University post under ad regulator#39;s radar, as it tightens rules on influencer endorsements

Virat Kohliâ€™s social media post may have violated guidelines of the Advertising Standards Council of India, but experts say the ad regulatorâ€™s message may not have reached many celebrities and there are many grey areas.

Did Virat Kohliâ€™s post on Lovely Professional University violate advertising guidelines?

30 Years Of Reforms | What does the report card look like?

India needs to cleanse itself of the socialist brainwash over the decades and step into the freedom of personal choice in regulated markets with little scope of rent-seeking by the powers that beÂ

Online purchases without permission by kids increased during pandemic: Olx report

Prolonged screen time and unhindered access to the internet due to online schooling have exacerbated mental stress, finds study. 80 percent parents felt it necessary to actively monitor the content being consumed by their little ones. About 1,500 parents across India were surveyed.