The first set of results from early-stage clinical trials of Oxford University Covid 19 vaccine has shown that the vaccine is safe and induces an immune reaction. Indian vaccine manufacturer Serum Institute, which has a manufacturing agreement with British pharma giant AstraZeneca, announced that it would seek regulatory approvals to manufacture the vaccine in bulk in India.
AGR Case: The Supreme Court to announce the AGR repayment timeline by next hearing on August 10. Vodafone Idea had paid Rs 1000 crores to Department of Telecommunication before the hearing and expects 15 years to make the remaining in payment in instalments. The court also expressed doubt over Vodafone Idea’s capacity to clear the dues, asking on how to “rely” on the company for payment over a period given its financial position.
Reliance Jio has sought spectrum in certain frequencies from the Department of Telecom for holding trials of the latest 5G technology. The company’s wholly-owned US-based subsidiary Radisys has already started selling some of the 5G solutions to foreign companies.
Jubilant Life Sciences has received drug regulator DCGI approval for generic version of antiviral drug remdesivir 100 mg/vial for restricted emergency use in India for treatment of severe COVID-19. Also, Mr Rakesh Jhunjhujnwala has increased his stake in Jubilant Life Sciences by 0.70%.
ACCCements reported a 40 per cent fall in consolidated net profit at Rs 270.95 crore during the June quarter of financial year 2021 as against Rs 455 crore in the same period last year, on the back of subdued demand for cement as the construction sector is hit by the nationwide lockdown.
SBI Card posted 13.80 per cent year-on-year (YoY) rise in net profit at Rs 393.29 crore for the quarter ended June 30. It had posted a net profit of Rs 345.59 crore in the corresponding quarter last year.
Dabur has filed a case in the Delhi High Court alleging that its Mumbai rival Marico’s Saffola Honey “imitated” the bottle, trade-dress, label and packaging of Dabur’s honey.
Tata Power’s arm CGPL – which runs Mundra power plant – has raised Rs 350 crore by issuing non-convertible debentures (NCDs) on private placement basis.
Britannia Industries will invest over Rs 700 crore to open five new manufacturing units in the next two-and-a-half years to meet the growing demand in different parts of India, its MD Varun Berry said on Monday.
Q1 Result Announcements Today:
Hindustan Unilever (HUL)
Axis Bank
Bajaj Finance
ICICI Prudential Life
Bajaj Finserv
Crisil
DCM Shriram
IndiaMART InterMESH
Syngene International
What to expect today?
Yesterday was a day with the least movement in NIFTY in the last 3 months. NIFTY traded in a very small range of just 80 points (10,950 – 11,030). So, 11,000 did act as a resistance but there was a rally before closing (thanks to IT led by INFY) and NIFTY closed strongly near 11,030.
Global markets are on a high. US, European and Asian markets are mostly up, NASDAQ reaching all time high. SGX NIFTY is currently trading very high at 11,130, indicating a huge gap up opening in the Indian Market!
NIFTY is likely to trade between 11,000 and 11,200 today. There is support at 10,970 and 10,930, and resistance at 11,050 and 11,090.
Highest Call Open Interest at 11,500, followed by 11,000. Highest Put Open Interest at 10,500, followed by 10,800.
