Market OutlookThe benchmark equity indices, BSE Sensex and NSE Nifty 50, are likely to start the week’s first trading session on a volatile note due to new allegations against Adani Group. GIFT Nifty futures were quoting over 39 points lower at 24,365 levels. Global MarketsIn Asia, South Korea’s Kospi was up 0.98%, and Asia Dow traded up 0.30% on Monday morning, while Hong Kong’s Hang Seng traded lower by 0.40% and the Shanghai Composite was down 0.13%. On Friday, August 9, Wall Street’s major indices settled with gains, with the S&P 500 and tech-heavy Nasdaq Composite adding 0.47% and 0.51% respectively. Results Today63 companies are set to announce their quarterly results today, including:
- 63 Moons Technologies
- Abhijit Infra
- Adani Group
- Amara Raja Energy & Mobility
- Berger Paints
- Grasim Industries
- Inox Wind
- ONGC
- Punjab National Bank
- Zydus Lifesciences
Company Updates
- Adani Group: New allegations from Hindenburg Research claim stakes in offshore entities linked to the alleged Adani Group money siphoning case.
- IIFL: Clarified that its IPE-Plus Fund 1 did not make any direct or indirect investments in Adani group shares during its tenure.
- ONGC: Received approval from the Government of India for infusion of additional equity capital up to Rs 10,501 crore.
- Sterling and Wilson Renewable Energy: Announced a new order for a 400 MW AC/ 633 MW DC PV plant in Rajasthan.
- Amara Raja Energy & Mobility: Signed a Memorandum of Understanding with Piaggio Vehicles Private Limited.
- Grasim Industries: Reported consolidated revenue of Rs 33,861 crore in Q1FY25, up 9% year-on-year.
- Zydus Lifesciences: Reported a 30.66% year-on-year surge in profit after tax to Rs 1,482.5 crore.
- Berger Paints: Reported a marginal decline in consolidated net profit to Rs 353.56 crore in Q1FY25.
- Inox Wind: Reported a Rs 50 crore profit after tax during Q1FY25.
IPO Corner
- Saraswati Saree Depot: The three-day subscription window to bid on the IPO opens today.
