Nifty this week:
This week the Nifty started negatively, but due to the Trump effect it slightly increased but later declined and closed flat. We could see the strengthening of USD and weakening of INR. Due to reasons like, the US Fed cut the interest rate by 25bps, underperformance in the q2 by the Indian companies, increase in US Treasury bond yields, stimulus package in China, and due to other factors the investors are loosing interest in the Indian markets.
This is expected to continue. But the experts are anticipating that the earnings of the Indian companies could grow in the second half of the current financial year.
The uncertainty persist in the market. Again we donot have any indication for the markets to reach the previous highs as of now. So I expect even this week to be flat and declining. So investors must be very particular about choosing only the value stocks at correct valuation.
Gold:
Due to strengthening of USD the gold prices have declined slightly. The other reason for the decline in gold price is the rise in the US bond yields.
But if the INR continues to decline, then we won’t witness the decline in gold price in India [significantly]. However the long term picture remains positive. It is good to consider good gold etfs or physical gold like coins and bars[ not a recommendation].
HCL Technologies new AI lab in Singapore:
Hcl Technologies plans for an AI lab in Singapore in partnership with EDB.
Dr. Reddy’s Laboratories q2 results:
Net profit: Rs 1,250 cr. [-15% Y-o-Y]
Revenue: Rs 8,016 cr. [+17% Y-o-Y]
Gland pharma q2 results:
Net profit: Rs 163.5 cr. [-15.7% Y-o-Y]
Revenue: Rs 1,405.8 cr. [+2.4% Y-o-Y]
Bata q2 results:
Net profit : Rs 52 cr. [+53.1% Y-o-Y]
Revenue: Rs 837.1 cr [+ 2.2% Y-o-Y]
NTPC approves Rs 80,000 crores investment proposals for 6,400 mW thermal capacity:
Mankind Pharma q2 results:
Net Profit: Rs 653.5 cr [+ 30.4% Y-o-Y]
Revenue: Rs 3,076.5 cr [13.6% Y-o-Y]
Titan q2 results:
Net Profit: Rs 705 cr[ -25% Y-o-Y]
Revenue: Rs 13,215 cr [+ 13.3% Y-o-Y]
Tata Steel q2 results:
Net Profit: Rs 758 cr
Revenue: Rs 53,904.7 cr
Mazagon Dock Ship Builders q2 results:
Net Profit: Rs 585 cr[+76% Y-o-Y]
Revenue: Rs 2,757 cr
Trent q2 results:
Net Profit: Rs 335 crores
Revenue: Rs 4,157 crores
Mahindra and Mahindra q2 results:
Net Profit: Rs 3 841 cr [ +13% Y-o-Y]
Revenue: Rs 27,553 cr
CCI probes Zomato and Swiggy:
CCI has probed Swiggy and Zomato over the allegation of favoring certain restaurant chains.