The domestic stock markets are likely to open in the green due to positive global cues. All three major US stock indexes eked out record closing highs for a second straight session on Monday as investors were optimistic heading into a slew of earnings from heavyweight technology and internet names this week. Trends on SGX Nifty also indicated a positive opening for the markets in India. At 7:20 am, the Nifty futures were trading at 15,867, higher by 45 points or 0.37 per cent on the Singapore Stock Exchange.
On Monday, the BSE Sensex was down 123.53 points at 52,852.27 and Nifty had shed 31.50 points to 15,824.50.
Stocks to watch in trade in today’s session
Tata Motors, the parent company of luxury car maker Jaguar Land Rover, said its loss narrowed to Rs 4,451 crore in the first quarter ended June 2021 from a loss of Rs 8,438 crore in the same quarter last year.
L&T reported net profit of Rs 1,174 crore in the first quarter ended June 2021 as against Rs 303 crore in the same quarter last year, a rise of 287 per cent primarily on low-base effect. Revenues jumped from Rs 21,260 crore to Rs 29,334.7 crore during the same period.
Axis Bank reported a 94 per cent rise in Q1 net profit to Rs 2,160 crore on the back of higher other income and lower provisions.
Kotak Mahindra Bank
Kotak Mahindra Bank’s standalone net profit for the first quarter of the current fiscal rose 32 per cent to Rs 1,642 crore compared with Rs 1,244.4 crore in the corresponding quarter of the previous fiscal. The net interest income grew 5.8 per cent to Rs 3,941.8 crore as against Rs 3,723.8 crore on a y-o-y basis.
Vedanta reported over four-fold jump in its consolidated profit after tax (PAT) to Rs 4,280 crore in the June quarter, boosted by higher income. The company will spend Rs 6,600 crore on the expansion of BALCO smelter.