Indian equity markets are likely to open lower on Monday, with Gift Nifty indicating pressure ahead of the trading session. At around 7:30 am, Gift Nifty was trading 30.50 points, or 0.12%, lower at 24,400.50, indicating that the Sensex and Nifty could open under pressure.
The market’s direction will also be influenced by global economic growth, US Federal Reserve monetary policy, crude oil prices and geopolitical developments. Investors will also track US retail sales data, the minutes of the FOMC meeting and economic data from China.
Several companies are scheduled to release their quarterly results today. Indo-Mim, Cresanda Railway Solutions, Indrayani Biotech, Mahan Industries, Silverline Technologies and Starbeam Ventures will be among the companies in focus.
Edtech company PhysicsWallah reported a reduction in its loss to ₹77.6 crore from ₹120.5 crore previously. Revenue increased 24.4% to ₹1,054 crore, compared with ₹847.1 crore in the same period of the previous year.
Voltas reported a 52.2% increase in net profit to ₹213.8 crore from ₹140.5 crore in the previous year. Revenue increased 18.7% to ₹4,673.5 crore.
GMR Airports reported July passenger traffic of 93.12 lakh, up 0.4% year on year. Domestic passenger traffic recorded a marginal decline, while international passenger traffic increased 2%.
Reliance Industries and Rolls-Royce have announced a partnership for India’s Advanced Medium Combat Aircraft (AMCA) programme. The companies will work together on opportunities related to the design, development, manufacturing and delivery of an indigenous combat engine.
The Insurance Regulatory and Development Authority of India (IRDAI) has issued a show-cause notice to PB Fintech in certain matters following an investigation. The company’s response and further developments related to the matter will be monitored.
Juniper Green Energy received a Letter of Award from SECI for a 230 MW Firm and Dispatchable Renewable Energy Round-the-Clock (FDRE-RTC) project. CESC subsidiary Purvah Green Power also received an LOA for 70 MW of FDRE-RTC power supply.
Other developments in focus include a USFDA inspection at Dr Reddy's Laboratories, an investment agreement involving Texmaco Rail & Engineering, the appointment of a new CFO at Bank of India and a $6.65 million order received by BEML from Mauritius.
