Indian benchmark indices, taking mixed cues from the global markets may open flat on Monday. The markets may factor in some clarity coming from the Jackson Hole Symposium that took place on Friday. Signaling a negative start for the markets, At 0702 hour, Nifty Futures on the Singaporean Stock Exchange was trading in the red down -3.50 points, or 0.02 per cent at 16,821. However, on the other hand, Asian shares started the week with gains Japan’s Nikkei rose 0.9% soon after the bell, and MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.32% in early trading before Chinese markets had opened. On Friday, with US Fed Chief Jerome Powell took more dovish stance than some investors expected and dropped only one hint about the tapering of $120 billion asset purchase from the US economy that this tapering of easy money policy can start “this year” only. Post his comment on Monday, apart from Japan’s Nikkie225 and MSCI index, Australian markets opened in green, up 0. 39 per cent and similarly, Korea’s Kopsi was up 0.54 per cent.
This week, two domestic macro-economic indicators are going to weigh on the the markets- GDP data along with manufacturing PMI, export-import data that all are scheduled to come this week. Apart from domestic macro-economic data, the US payroll data that is scheduled to come this week will also determine the course of the markets. Last week, Indian markets seeking clarity about tapering of stimulus and taking mixed global cues from the global market touched all-time highs. On Friday, The 30-share BSE Sensex touched a high of 56,188.23 and a low of 55,675.87 to finally settle at 56,124.72 for the first time. The S&P BSE Sensex was up 176 points, or 0.31 per cent at 56,124.72 while the Nifty50 was up 68 points, 0.41 per cent at 16,705.20.
Here are some stock that would in focus today:
Phillips Carbon Board: The company last week approved rising up to Rs 500 crore via issue of securities: The Board of Directors of the company approved raising of funds by further issue of securities by way of private placement or preferential issue or
public issue or through any other permissible mode and/or combination thereof, including by way of qualified institutions placement, for an aggregate amount not exceeding Rs 500 crore, the company said in an exchange filing.
Procter & Gamble Health: Procter & Gamble Health has reported a 30.63 per cent decline in its net profit to Rs 33.89 crore for the fourth quarter ended June 30. The company had reported a net profit of Rs 48.86 crore for the corresponding period a year ago, Procter & Gamble Health said in a regulatory filing.Also, the company recommended a final dividend of Rs. 130 per equity share, for the financial year ended June 30, 2021, which includes a one-time special dividend of Rs. 90 per equity share.
Indian Oil Corp (IOC): The company chairman announced last week that it will invest over Rs 1 lakh crore to expand refining capacity.
Adani Green Energy: Moody’s Investors Service has assigned a Ba3 rating to Adani Green Energy’s proposed USD senior secured notes. AGEL will primarily use the proceeds from the USD notes to on-lend to its direct and indirect subsidiaries for them to fund the development of utility-scale renewable power projects.
Nazara Technologies: The company announced that it going to make strategic investment for the proposed acquisition of 100% stake in OpenPlay Technologies from its existing shareholders.
Mahindra & Mahindra: The company received a major contract worth Rs 1,349.95 from the Ministry of Defence for the manufacturing of Integrated Anti-Submarine Warfare Defence Suits for modern warships.
GOCL Corporation: The Company signed an agreement with Squarespace Infra City for sale of 44.25 acres land at Kukatpally, Hyderabad, for Rs 451.79 crore. This transaction may get completed in next 3-6 months.
Tinplate Company of India: The company approved an expansion plan, investing in putting up an additional capacity of 3,00,000 tonne per annum at Jamshedpur. The project is expected to be completed in about 3 years.
Dalmia Bharat: The company’s subsidiary Dalmia Cement (Bharat) going to invest Rs 758 crore in Jharkhand, for this it signed three Memorandum of Understandings with the Government of Jharkhand.
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