Markets to focus on Q1 earnings, RBI interest rate this week: Analysts

The RBI interest rate decision, industrial production data for June and the ongoing quarterly earnings from corporates would largely drive the stock markets this week, analysts said. Other major factors such as global market trends, the movement of oil prices and the trading activity of foreign investors would also influence trading, they added. "The market will have an eye on the RBI Monetary Policy Committee (MPC) meeting, which will be announced on August 10, 2023. We are heading towards the last batch of Q2 earnings of key companies such as Adani Ports, Coal India, Hero MotoCorp, Hindalco and ONGC, among others, which will lead to stock-specific movement," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. On the macro front, market participants will be closely observing key events like industrial production and manufacturing production data, which will be released on August 11, Gour said. Trend in global stock markets, movement of the dollar index, the rupee

from Markets https://ift.tt/FKOb0fl

What drives shiny metal's price up or down, explains World Gold Council

During periods of turmoil, gold tends to make headlines as fans of the precious metal argue it can act as a safe haven. But is it also an inflation hedge? Is it considered a risk asset?

from Markets https://ift.tt/RCPDLpI

BLS E-Services files draft papers with Sebi to garner funds via IPO

BLS E-Services Ltd has filed draft papers with capital markets regulator Sebi to mobilise funds through an initial public offering (IPO). The company is a subsidiary of BLS International Services Ltd, which offers visa and consular services. The IPO comprises a fresh issue of 2.41 crore equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Friday. Proceeds of the issue will be utilized for strengthening technology infrastructure to develop new capabilities and consolidating existing platforms. In addition, fresh capital will be used for funding initiatives for organic growth by setting up BLS Stores, achieving inorganic growth through acquisitions, and general corporate purposes. BLS E-Services Ltd is a leading technology-enabled digital service provider, offering business correspondent services to major banks in India, assisted e-services; and e-governance services at grass root levels in India. The company provides a

from Markets https://ift.tt/p43aNgm

Gold price unchanged at Rs 59,950; silver price dips Rs 200 to Rs 74,800

The price of 22-carat gold was also unchanged at Rs 54,950

from Markets https://ift.tt/ldU0tI2

SBFC IPO subscribed 6.3x on day 2, Concord Biotech IPO over half covered

At the top end, SBFC will be valued at Rs 6,066 crore on a post-dilution basis

from Markets https://ift.tt/LxNucXA

Zomato surges 14% as firm turns profitable for first-time in June quarter

Food aggregator platform company reported a consolidated profit after tax of Rs 2 crore compared to a loss of Rs 186 crore in the year-ago period.

from Markets https://ift.tt/GqIJpgW

Stocks to Watch on Aug 4: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL

Stocks to Watch today, August 4: 2023: Food aggregator platform Zomato turned profitable for the first time ever in Q1FY24

from Markets https://ift.tt/GjFoeQY

IndusInd Bank: Adopt a bear spread strategy for the August expiry

Short build up seen in Indusind bank Futures on Thursday, with a 2 per cent addition in Open Interest (Prov) and price falling 1.21 per cent: HDFC Securities

from Markets https://ift.tt/FqySMak

Ambuja Cements gains 1% on acquisition of Sanghi Industries for Rs 5,000 cr

ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family.

from Markets https://ift.tt/m0bq6YQ

Morgan Stanley upgrades India's rating to overweight, downgrades China

The brokerage firm added that it expects Sensex to reach 68,500 by the end of December this year

from Markets https://ift.tt/F0k5MHr

Stock Market Live: Gift Nifty muted amid dull global cues; Airtel Q1 eyed

Stock market live updates: At 6:55 am, the Gift Nifty quoted 19,516 levels, down 80-odd points

from Markets https://ift.tt/iodtWwa