Moneycontrol launches Analysts’ Call Tracker. A monthly special page that tells you which way analysts are leaning; the stock they are most bullish or bearish on, what they are upgrading or downgrades, and where they are betting against the market. Ignore this at your own risk!
NHPC signs MoU with Damoder Valley Corporation to explore formation of JV for hydropower:
#OnCNBCTV18 | Operating return on embedded value is in line with company’s target. Merger with Exide Life was consummated in terms of share issue on January 1. The merger involved a cash component of ₹700 crore, says Vibha Padalkar of @HDFCLIFE pic.twitter.com/9ZUiHtmiQV
— CNBC-TV18 (@CNBCTV18Live) July 20, 2022
DoT releases list of final bidders in the upcoming 5G auctions
RBI prepared to spend up to $100 billion more to defend rupee:
India’s central bank is prepared to sell a sixth of its foreign exchange reserves to defend the rupee against a rapid depreciation after it plumbed record lows in recent weeks, a senior source aware of the central bank’s thinking told Reuters.
Despite the drawdown, the RBI’s reserves of $580 billion remain the fifth largest in the world, giving the central bank confidence in its ability to prevent any sharp, jerky depreciation of the currency.
Market update at 1 PM: Sensex is up 830.56 points or 1.52% at 55598.18, and the Nifty jumped 236.20 points or 1.45% at 16576.70.
Newgen Software Q1: Consolidated net profit went down 11.2% at Rs 19.2 crore against Rs 21.6 crore (YoY). Consolidated revenue was up 17.8 % at Rs 188 crore against Rs 159.5 crore (YoY). Consolidated EBITDA slipped 15.3% at Rs 19.3 crore against Rs 22.7 crore (YoY). Margin at 10.2% against 14.2% (YoY).
#1QWithCNBCTV18 | Persistent will report its Q1 earnings on Thursday. The street expects the technology services company to report 12.34% rise in revenue at ₹1,980 crore & profit is seen growing 1.5% (QoQ). Margin to decline due to visa costs & attrition backfilling costs pic.twitter.com/pX9uH0vARH
— CNBC-TV18 (@CNBCTV18Live) July 20, 2022
Nifty FMCG Index gains more than 1 percent, buoyed by strong showing by HULSource: NSE
Market at 12.00 Noon
Indices trade positive aided by IT and Metal indices; Nifty around 16,550
Sensex is trading higher by 735.69 points or 1.34 percent at 55,503.3; Nifty is up 212.05 points or 1.30 percent at 16,551.00. Of the 3,345 stocks traded on the BSE, there were 2206 advances, 975 stocks declined while 164 stocks remained unchanged.Source : BSE
Long build-ups seen in Vedanta, Piramal Enterprises & ONGC
