Indian equity benchmarks settled almost flat after falling through the session, led by a higher opening on Friday. IT and private banking sectors fell, whereas metals, real estate, and media shares surged. The indices settled in red for second consecutive session.
The NSE Nifty 50 fell 0.05 per cent to close at 19,646. On the other hand, BSE Sensex tanked 106 points to settle at 66,160.2.
“As we step into a new month, the market is brimming with various domestic and global macroeconomic indicators that are expected to sustain its momentum. On the domestic front, investors will keep a close eye on the Q1 earnings of key companies such as BHARTIARTL, BRITANNIA, EICHERMOT, M&M, MARUTI, SBIN, SUNPHARMA, TITAN, and UPL, among others, as they are scheduled to announce their financial results in the upcoming weeks. Additionally, monthly auto sales figures and developments during the monsoon session of parliament will also be significant points of interest for investors and traders alike,” said Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd.
Top Stocks To Watch On 31 July:
TCS
K Krithivasan, the new CEO of TCS, has revamped the operating structure for senior management and changed some of the SMP (senior management personnel) members. It also promoted Harrick Vin as the new chief technology officer (CTO) and Abhinav Kumar as the interim head for marketing.
Marico
The FMCG major has reported a consolidated profit of Rs 436 crore for the quarter ended 30 June 2023, increasing 15.6 per cent over the corresponding quarter last financial year, driven by healthy operating performance. Revenue from operations decreased 3.2 per cent year-on-year to Rs 2,477 crore during the reported quarter due to weak India business and moderate growth in international business, with domestic volume growth at 3 per cent. EBITDA suerged by 8.7 per cent YoY to Rs 574 crore with margin expansion of 260 basis points on lower input cost.
NTPC
NTPC announced its Q4 results with a 23 per cent increase in consolidated net profit at Rs 4,907 crore, compared to 3,977.7 crore in the corresponding quarter last year. The state-owned power company’s revenue from operations stood at Rs 43,075.09 crore, marginally lower compared to Rs 43,177.14 crore in the year ago period.
