The Indian benchmark indices Sensex and Nifty are poised to open higher today, influenced by upbeat global cues despite mixed signals elsewhere. At 6:47 AM, GIFT Nifty futures indicated a significant uptick of 91 points at 24,613, suggesting a robust start for the trading session.
In the United States, markets closed on a positive note last Friday, with the Dow Jones rising 0.62%, nearing record levels. Similarly, the Nasdaq climbed 0.63% and the S&P 500 gained 0.55%.
Conversely, Asian markets showed varied performances: Australia’s ASX200 advanced by 0.86%, while Korea’s Kospi edged marginally lower by 0.07%. Japanese markets remained closed due to a public holiday, following a 2.45% gain in the Nikkei on Friday, July 12. European markets concluded on a positive trajectory, with Germany’s DAX up 1.15% and the UK’s FTSE increasing by 0.36%.
Domestically, India witnessed a reversal in retail inflation for June, surpassing 5% after a five-month decline, driven primarily by elevated food prices. Analysts anticipate the Reserve Bank of India (RBI) to maintain a policy rate pause in response. Additionally, the Index of Industrial Production (IIP) surged to a seven-month high of 5.9% in May, indicating robust industrial growth.
Investors will closely monitor the release of June’s Wholesale Price Index (WPI) data and trade figures later today, which could further impact market sentiment.
Top Stocks in Focus
HCL Technologies: Reported a 6.8% rise in net profit to Rs 4,257 crore for Q1, despite a slight revenue decline. The company forecasts modest year-on-year revenue growth and expects stable Ebit margins for FY25.
5paisa Capital: Recorded a 39% increase in net profit to Rs 20.1 crore, with consolidated revenue growing by 21% in Q1.
Indian Renewable Energy Development Agency (IREDA): Posted a 30.2% spike in net profit to Rs 383.7 crore and a 37.6% rise in net interest income year-on-year for Q1.
Avenue Supermarts (DMart): Reported a 17.5% rise in net profit and an 18.6% increase in revenue for Q1, maintaining Ebitda margins.
Marico: Aims for double-digit revenue growth in the medium term, with robust domestic sales expected from Q1FY25 onwards.
Rail Vikas Nigam (RVNL): Secured a Rs 132.6 crore project from Central Railway for OHE modification work in Nagpur division.
Alembic Pharmaceuticals: Received tentative US FDA approval for Selexipag for injection, intended for pulmonary arterial hypertension treatment.
Geojit Financial Services: Recorded a significant jump in net profit and revenue for Q1 on a consolidated basis.
Lupin: Received an Establishment Inspection Report (EIR) from the US FDA for its Gujarat facility without any observations.
Piramal Pharma: Successfully completed a Pre-Approval Inspection (PAI) at its PPDS Ahmedabad facility by the US FDA.
Apollo Micro Systems: Won a Make II project from the Indian Army for a Vehicle Mounted Counter Swarm Drone System (VMCSDS).
Suven Pharmaceuticals: Acquired a 51% stake in Sapala Organics and received a Form 483 with procedural observations from the US FDA for Casper Pharma in Hyderabad.
Zomato: Dissolved its step-down subsidiary, Zomato Slovakia, effective July 12.
Bhansali Engineering Polymers and Plastiblends India: Both reported growth in net profit and revenue for Q1.
Central Bank of India: Entered a strategic co-lending partnership with Arka Fincap to offer MSME loans.
Jupiter Wagons: Raised Rs 800 crore through a qualified institutional placement (QIP) oversubscribed by 3.5 times.
PTC India Financial Services: Appointed R Balaji as MD & CEO, effective July 12.
Bank of Maharashtra: To consider raising long-term bonds through public issue or private placement during FY25 in its upcoming board meeting on July 18.
Investors are advised to watch these stocks closely today for potential trading opportunities amidst prevailing market conditions.
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