Following Monday’s decline, Indian equity markets are likely to open lower on Tuesday. At around 7:40 a.m., GIFT Nifty was trading at 24,306, down 69 points or 0.28%, indicating a weak start for the domestic market.
Market experts expect Indian equities to remain range-bound in the coming sessions. Investors’ focus is gradually shifting from first-quarter financial results to global economic indicators and geopolitical developments. The situation in the Strait of Hormuz, tensions between the United States and Iran, and movements in crude oil prices could be among the factors influencing market direction.
If geopolitical tensions escalate and crude oil prices rise, the development could affect India as a major oil-importing country. It could have an impact on inflation, the import bill and companies’ costs. Investors are also expected to track global market trends and company-specific developments.
Netweb Technologies India will be monitored for developments related to its financial performance. The company’s profit increased 31.6% to Rs 240.1 crore, compared with Rs 182.4 crore in the corresponding period last year. Revenue increased 9.4% to Rs 1,218.7 crore.
One 97 Communications (Paytm) could see activity following news of a potential stake sale. Resilient Asset Management B.V., the parent and promoter company associated with Vijay Shekhar Sharma, may sell up to a 4.98% stake in Paytm. A floor price of Rs 1,535.10 per share has been set for the proposed sale.
SPR Auto Technologies launched its Qualified Institutional Placement (QIP) on August 17. The floor price for the issue has been set at Rs 4,438.20 per share.
Jyoti CNC Automation has received approval for a proposed capital investment of Rs 1,020.65 crore over the next five years at its existing manufacturing unit in Rajkot. The approval has been granted under the Ministry of Electronics and Information Technology’s Electronics Component Manufacturing Scheme.
Manipal Health Enterprises has entered into a Business Transfer Agreement with Kindorama Healthcare to acquire the business operations and assets of Kinder Hospital, located in Doddanekundi Industrial Area, Bengaluru, for Rs 130 crore.
Highway Infrastructure has received a Letter of Acceptance worth Rs 80.17 crore for operating the Palayam Fee Plaza in Tamil Nadu. The order was issued by the National Highways Authority of India (NHAI).
Shares of Poonawalla Fincorp, PNB Housing Finance, Manappuram Finance and IIFL Finance will also remain on investors’ radar due to corporate developments.
Nelco has announced a new partnership and investment related to satellite-based Direct-to-Device and IoT connectivity for South Asian markets.
