Stock Market Today: Indicating that Dalal Street would have a slow start on Thursday, GIFT Nifty on the NSE IX trading 4 points, or 0.02 percent, higher at 19,845. Nifty climbed rapidly to close near 19,850 zones after taking triple bottom support at roughly 19,730 zones intraday. The BSE Sensex increased 302 points to close at a record level of 67,097, while the broader Nifty increased 83 points to end the day at 19,833, helped by a late-session rebound in Reliance and an upswing in banking and media firms on solid quarterly profits.
Rupees and Oil prices
As a result of the American dollar’s recovery on international markets and rising crude oil prices, the rupee lost 4 paise to end the day at 82.08 to the US dollar. With the dollar strengthening and profit-taking after a smaller-than-expected decline in U.S. crude oil stocks, oil prices declined in early Asian trade on Thursday, adding to losses from the previous session.
Tata Communications
In the June quarter, Tata Communications’ consolidated net profit fell by 29.8% to Rs 382 crore due to higher interest expenses and reduced foreign exchange profits. To Rs 4,711 crore, the combined revenue increased 10.7% from the previous year.
Stock Market Today: Stocks in focus
Infosys and HUL
Prior to their quarterly earnings on July 20, Infosys, Hindustan Unilever, South Indian Bank, Tanla Platforms, United Spirits, Coforge, CSB Bank, Dalmia Bharat, Havells India, IndiaMART InterMESH, ICICI Securities, 360 ONE WAM, Nelco, Persistent Systems, Quick Heal Technologies, Reliance Industrial Infrastructure, and Zensar Technologies will be under the spotlight.
Dr Reddy’s Laboratories
The company’s API manufacturing plant in Srikakulam, Andhra Pradesh, underwent a pre-approval inspection (PAI) and a normal GMP inspection by the United States Food & Drug Administration (USFDA). The inspection took place between July 10 and July 19. The inspection was declared complete with no findings and the designation “no action indicated.”
Olectra Greentech
Megha Engineering & Infrastructures has been given a contract by the business to build a greenfield electric vehicle manufacturing facility on 150 acres of land in Hyderabad, Telangana. This business is an affiliate of Olectra Greentech and the ultimate holding company. The greenfield EV manufacturing facility will be built and operational within a year after the shareholders’ approval date.
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