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!
As Axis Bank falls after topping estimates, should you buy or sell stock?
The private sector lender reported a 21 percent rise in net interest income to Rs 9,384 crore, exceeding Street’s estimate of Rs 9,186.6 crore.
Bajaj Finserv board to consider stock split proposalBajaj Finserv share price rose on July 26 as company board is going consider the proposal for a stock split of company’s equity shares in its meeting to be held on July 28.
Results on July 26
Larsen & Toubro, Asian Paints, Bajaj Auto, Tata Power Company, Union Bank of India, Aditya Birla Sun Life AMC, United Spirits, Ujjivan Small Finance Bank, UTI Asset Management Company, Greenlam Industries, Ramco Systems, Symphony, Sanofi India, Shoppers Stop, Apollo Pipes, EIH Associated Hotels, EPL, Ethos, KEI Industries, Mahindra EPC Irrigation, PNB Gilts, SIS, South Indian Bank, and TTK Healthcare will be in focus ahead of June quarter earnings on July 26.
Gear up for another leg of rally as bears are exiting GAIL India
In the oil & gas segment, GAIL India was the biggest gainer on July 25 with volumes over three times the average
Nifty Information Technology index shed 1 percent dragged by the Mphasis, L&T Technology Services, Infosys
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
The dark cloud on the global economic horizon is the threat of an imminent US recession impacting global economic growth. Jury is still out on whether the US slips into a recession or not. But a global growth slowdown appears inevitable. Wall Mart’s profit warning issued yesterday is an indication of the difficult days ahead for corporate earnings.
Europe is the weakest geographical space in the world and China is struggling. Even though the Indian economy is resilient now, global growth slowdown will impact India too. This means, from the fundamental perspective, there is a limit to market upside. The 1400 point rally in Nifty from its June lows has again stretched market valuations. Therefore, FIIs might again turn sellers to rallies.
Macrotech Developers Q1 Earnings:
Realty firm Macrotech Developers on Monday reported a 68 per cent increase in its consolidated net profit to Rs 270.80 crore for the June quarter on better sales. The company’s net profit stood at Rs 160.91 crore in the year-ago period, according to a regulatory filing.
Total income rose to Rs 2,675.78 crore in the first quarter of this fiscal from Rs 1,749.97 crore in the corresponding period of the previous year. On the performance, Macrotech Developers Ltd MD and CEO Abhishek Lodha highlighted that the April-June period was its best-ever first quarter with Rs 2,814 crore of pre-sales from India business.
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: Indian indices opened flat on July 26 on the back of mixed global cues.
At 09:15 IST, the Sensex was down 88.19 points or 0.16% at 55678.03, and the Nifty was down 34 points or 0.20% at 16597. About 951 shares have advanced, 691 shares declined, and 93 shares are unchanged.
Bajaj Finserv, Tech Mahindra, Bajaj Finance, Tata Steel and UPL were among major gainers on the Nifty, while losers were Axis Bank, Dr Reddys Labs, Asian Paints, Maruti Suzuki and Tata Motors.
HDFC Bank to be among world’s top 10 most valuable banks after merger: Report
HDFC Bank, India’s largest private lender has a market capitalisation of about $108 billion and recently edged past Citigroup (over $100. 5 billion), which was at the 17th position
Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities:
Key benchmark indices are likely to start on a sour note mirroring weakness in SGX Nifty, but gains in other Asian peers could help local markets rebound although intra-day gyration is not ruled out.
Investors are likely to be in a wait-and-watch mode as all eyes will be on the Fed rate decision on July 27, where a 75 bps rate hike could be on cards. Also, July F&O series expiry this Thursday shall keep markets volatile.
Technically speaking, on the downside, the line in the sand is at Nifty’s support at 16551 mark. In case of Nifty’s major intraday support at 16551 mark collapses, the next pivot point could be found at psychological 16200 mark. Also, with Nifty’s rallying around 10% from its June 17th low — bulls will face major hurdles at Nifty’s 200 DMA at 17045 mark.