The Supreme Court on Wednesday dismissed a petition filed by the income tax department challenging Bombay High Court’s order asking it to refund ₹833 crore to Vodafone Idea Ltd.
The Phase 3 clinical trial of antiviral drug Favipiravir in mild to moderate covid-19 patients showed 40% faster recovery compared to those on standard supportive care, Glenmark Pharmaceuticals said, replying to allegations.
Larsen & Toubro reported a 68.37% year-on-year (YoY) fall in consolidated net profit at Rs 536.88 crore for the June quarter hurt by lower revenue, credit provisions in financial services business and under recovery of overheads.
Bajaj Auto posted a 53% Year-on-Year(YoY) decline in net profits on Wednesday. Profits fell to Rs 528.04 crore for the quarter ended June as compared to Rs 1,125.67 crore in the corresponding quarter last year.
Jindal Steel & Power Q1 earnings beat estimates; consolidated net profit reported at Rs 267 crore
Rossari Biotech making its debut in the market today. Market expects a listing gain of around 40%.
Rating agency Standard & Poor’s (S&P) has said that Future Retail has missed a Rs 100-crore ($14-million) repayment on its $500-million foreign currency bonds. The agency has warned that it could downgrade it to ‘D’ if it feels that the company is unlikely to repay in the 30-day grace period.
Rallis India, the subsidiary of Tata Chemicals reported a 53 per cent growth in consolidated profit after tax (PAT) at Rs 92 crore during the first quarter of 2020-21.
ICICI Securities reported a 70 per cent jump in profit after tax (PAT) to Rs 193 crore in the April-June quarter on robust growth in revenues and improvement in margins.
RBL Bank, which raised Rs 2025 crore through a qualified institutional placement (QIP) as recently as December is likely to be first off the block seeking to raise another Rs 1000 crore through a preferential allotment.
LIC Housing Finance introduced an all-time low interest rate rate of 6.9% for new home loan borrowers. To bring in rate parity even current borrowers will be able to enjoy this new rate of interest. (Home Loan at 6.9% interest!! Best time to take one?)
What to expect today?
Yesterday, the market showed a bit of volatility and closed in the red after nearly a week. Even though there was a huge fall, the market took support thereby confirming the positive bullish sentiments. But, any negative news causing profit booking and causing the market to fall quickly is still a major fear among traders and investors.
US market is slightly up. Asian markets are mixed. SGX NIFTY is currently trading lower at 11,106, indicating a flat to gap down opening in the Indian Market!
NIFTY is likely to trade between 11,000 and 11,250 today. There is support at 11,050 and 10.960 and resistance at 11,120 and 11,180.
Highest Call Open Interest at 11,500, followed by 11,000. Highest Put Open Interest at 11,000, followed by 10,800.
