The stock market is expected to open in the green as trends on the SGX Nifty point to a positive start for the larger Indian index with a rise of 54 points.
The BSE Sensex increased by 214 points to 58,350.5, and the Nifty50 increased by 43 points to 17,388. Yesterday, the Nifty50 created a small-bodied bullish candle on the daily charts.
The critical support level for the Nifty is listed as 17,273, followed by 17,159, according to pivot charts. 17,455 and 17,522 are significant resistance levels to be aware of if the index rises.
Here is the top ten stocks that will be the focus of attention today.
Adani Power: Due to an increase in revenue, Adani Power Limited on Wednesday reported a massive increase in its consolidated net profit, which rose to ₹4,779.86 crore. According to a regulatory filing, the company’s combined net profit for the prior fiscal year totaled ₹278.22 crore. In the June quarter, the company’s overall revenue increased to ₹15,509 crore. It was ₹7,213.21 crore over the same time frame the previous year.
Vodafone Idea: On Wednesday, the world’s largest telecom company said that its consolidated loss for the April-June quarter was ₹7,296.7 billion, down from ₹7,319 billion in the same period previous year. The telecom giant’s operational revenue increased by 13.7 percent YoY to 10,410 crore from Q1FY22’s ₹9,152 crore.
Adani Transmission: For the three months that ended on June 30, Adani Transmission Limited (ATL) announced a combined net profit after tax (PAT) of ₹168.46 crore on Wednesday. In a regulatory statement, the business stated that its consolidated PAT for the prior fiscal year was ₹433.24 crore. In the first quarter of the current fiscal year, the company’s total income from operations was ₹3,249.74 billion, compared to ₹2,935.72 billion in the same period last year.
InterGlobe Aviation: On Wednesday, InterGlobe Aviation, which runs low-cost carrier IndiGo, announced that its consolidated deficit for the three months ended June 30, 2022, fell to ₹1,064 crore (Q1FY23). In the same period last year, the aviation company reported a combined loss of ₹3,174 crore. The company’s operating revenue increased by four times to ₹12,855 crore in the quarter under review from ₹3,007 crore in the same quarter last year, an increase of 327.5 percent.
Bharti Airtel: On Wednesday, Bharti Airtel stated that it had signed 5G network agreements with equipment manufacturers Ericsson, Nokia, and Samsung to start deployment this month, just days after placing bids for spectrum in auctions. While announcing that its partnership with Samsung will start this year, Airtel emphasised its long-standing connections with Ericsson and Nokia for connectivity and pan-India managed services. The Sunil Mittal-led company has increased its spectrum holding by acquiring 19,867.8 MHZ of spectrum in the 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz, and 26 GHz bands.
LIC: The major issue, despite being significantly scaled back, was the sale of LIC shares, which increased government ownership of publicly traded companies to a high of 7.15 percent in the June quarter from 5.48 percent in the March quarter. The LIC issue, which is now ranked as the tenth largest in terms of market capitalization with a value of ₹4.29 lakh crore, caused the government stake in NSE businesses to increase in value by 20.24% to ₹16.99 lakh crore in the June quarter.
INOX Leisure: Operator of multiplexes, INOX Leisure experienced increased foot traffic in Q1 FY23. The growth was primarily caused by the successful performance of Hindi-dubbed southern content. With 1.8 crore admits, which is 0.7 crore more than Q1 FY20, foot traffic increased by 6% in the first quarter of FY23. The foot traffic was driven by the Hindi versions of KGF 2 and RRR.
Brookfield Reits: Boosted by on-time rent payments and improved occupancy, Brookprop Management Services, manager of Brookfield India Real Estate Trust, paid a dividend to unitholders on Wednesday for the June quarter in the amount of ₹170.8 crore, or 5.10 per unit. According to the corporation, the distribution consists of ₹2 crore, or 0.06 per unit, in dividends and ₹82.1 crore, or 2.45 per unit, in interest payments on shareholder loans and CCDs.
Dhanuka Agritech: The company reported on Wednesday that its net profit increased marginally year over year, or by 1%, to ₹49.11 crore for the quarter ended in June. The Gurugram-based company reported that total revenue increased by 10% to ₹409.58 crore in the first quarter of this fiscal year from ₹371.54 crore in the same period of FY22.
Strides Pharma: On Wednesday, Strides Pharma Science announced that the US health regulator has given the company permission to distribute a generic immunosuppressant drug in the US. The Bengaluru-based business claimed that the US Food & Drug Administration had approved Cyclosporine Softgel Capsules through its step-down wholly-owned subsidiary, Strides Pharma Global (USFDA).
Ahmedabad Plane Crash