Indian markets are likely to open higher on Tuesday, following positive global cues. At 7:15 am, Nifty futures on the Singapore Exchange traded some 115.50 points or 0.74 percent higher at 15,803.50, signalling a solid gap-up start ahead for Dalal Street, cncbctv18.com reported.
Top stock to look for the day:
Telecom Stocks: According to latest TRAI data, Reliance Jio added 4.7 million users in April and its subscriber base augmented to 427.6 million. Vodafone Idea lost 1.8 million users and its subscriber base shrunk to 281.9 million in April. While Bharti Airtel added 0.51 million wireless customers and its user base rose marginally to 352.9 million.
ONGC: The Competition Commission of India (CCI) has approved the acquisition of a 23.5 percent equity stake in the company’s Tripura Power Company by Summit India (Tripura).
Aegis Logistics: The company has formed a joint venture with Vopak named Aegis Vopak Terminals Ltd for LPG and chemical storage terminals in India.
Reliance Industries: The company has incorporated its wholly owned subsidiary ‘Reliance New Energy Solar’ with an investment of Rs 1 lakh in cash in 10,000 equity shares of Rs 10 each to undertake activities relating to solar energy.
FDC: The pharmaceutical company launched India’s first oral suspension of Favipiravir – Favenza oral suspension, used to treat mild to moderate cases of Covid-19.
Sunteck Realty: The company’s pre-sales grew by 74 percent YoY in Q1FY22 to Rs 176 crore, while collections grew by 165 percent YoY in Q1FY22 to Rs 172 crore.
LIC Housing Finance: ICICI Prudential Asset Management Company Ltd dumped 194,291 equity shares (0.04 percent stake) in the company, thus diminishing shareholding to 3.01 percent from 3.05 percent.
HFCL: The company’s Q1FY22 consolidated net profit jumped to Rs 90.69 crore for the first quarter ended June 30, 2021. The company had posted a profit of Rs 21.34 crore in the same period a year ago. Revenue increased 72.46 percent to Rs 1,206.87 crore from Rs 699.76 crore, YoY.
Shilpa Medicare: The company approved the transfer of Active Pharmaceutical Ingredients (API) business consisting of Unit-1 and Unit-2 situated in Raichur, Karnataka by way of slump sale to a wholly owned subsidiary of the company.
Shipping Corporation of India: The disinvestment-bound company has opened the virtual data room for potential bidders.
ISMT: The company reported a consolidated loss of Rs 112.2 in Q4FY21 from 79.11 crore in the same period last year. While revenue jumped to Rs 459 crore from Rs 276.24 crore, YoY.
Earnings: Mindtree, Tata Metaliks, Gagan Gases, TPI India and WS Industries, among others will release their quarterly earnings on July 13.