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The Indian equity indices are likely to open higher on Wednesday, tracking SGX Nifty futures, which was trading 0.54% higher at 16,237.
Nifty finally crossed the key level of 16,000 on August 3 after almost two months of consolidation. Nifty closed 1.55% higher at 16,130.75 on Tuesday. Sensex also hit new highs and ended 1.65% up at 53,823.36.
Indian rupee gained 8 paise to end at 74.28 against the US dollar.
Chinese markets opened higher on Wednesday, as investors’ optimism was boosted amid a softer tone by the state over the clampdown on technology companies and Japanese share were trading lower over the pandemic woes.
Four companies – Windlas Biotech, Devyani International, Exxaro Tiles and Krsnaa Diagnostics – are set to open for IPO subscription today which are worth around Rs 3,614 crore considering their higher price bands.
FII/DII trading data on Tuesday (03-08-2021)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 8993.55 | 6876.95 | 2116.6 |
| DII | 6571.69 | 6870.23 | (298.54) |
| *All numbers are in INR crore | |||
Upcoming Earnings
State Bank of India, Adani Green Energy, Adani Total Gas, Hindustan Petroleum, Titan Company, Godrej Consumer Products, Apollo Tyres, Tasty Bite Eatables, Tata Communications, Blue Star, Bosch, Chambal Fertilisers & Chemicals, Cholamandalam Financial Holdings, HT Media, PNB Housing Finance, Solara Active Pharma Sciences, Sonata Software, Subros, and Thomas Cook
Stocks in News Today
Bharti Airtel: The telecom operator’s net profit stood at Rs 283.5 crore in the first quarter of FY22, compared with a loss of Rs 15,933 crore in the year-ago period due to one-time provision for charges related to adjusted gross revenue. The company’s consolidated revenue increased 15.3% to Rs 26,854 crore on a year-on-year basis. Airtel’s average revenue per user inched up to Rs 146 in the Apr-Jun quarter, from Rs 145 in the quarter ended March 2021.
Dabur: The FMCG major posted a 28% rise in its net profit for the quarter ended June 2021 to Rs 438 crore, compared with Rs 342 crore in the year-ago period. The company’s revenue for the period rose 32% to Rs 2,612 crore, as against Rs 1,980 crore in the year-ago period. Its food and beverages segment’s revenue soared 80.4% in the first quarter of FY22 compared to the corresponding period of last year.
Adani Enterprises: The Adani Group’s company posted a consolidated profit of Rs 266 crore for the quarter ended June 2021, compared with a loss of Rs 66 crore in the year-ago period. The consolidated revenue more than doubled to Rs 12,579 crore in Q1 of FY22, from Rs 5265 crore in Q1 of FY21. Its EBITDA soared 215% to Rs 948 on a year-on-year basis.
Tata Consumer Products: The company posted a 42% decline in its consolidated net profit to Rs 200.24 crore in Apr-Jun quarter of FY22 due to one-time exceptional gains in the previous year. Its operating revenue in the quarter jumped 10.85% to Rs 3,008.46 crore, compared with Rs 2,713.91 crore in the year-ago period. The company’s total expenses was Rs 2,696.19 crore in the quarter, a 16.69% rise, as against Rs 2,310.44 crore in the year-ago period.
Indian Overseas Bank: The public sector bank’s net profit rose to Rs 327 crore in the Apr-Jun quarter, compared with Rs 121 crore in the year-ago period due to strong cash recovery from stressed assets. Interest income declined to Rs 4063 crore in the quarter, against Rs 4302 in the year-ago period. Total income stood at Rs 5155 crore, as against Rs 5234 crore in the corresponding quarter of last year. Gross NPA ratio stood at 11.48% for the quarter ended June.