Share Market HIGHLIGHTS: Nifty cracks below 19,750, Sensex ends 888 pts lower, halts 6-day winning r - Zee Business

Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex settled lower on Friday, July 21, with Nifty IT and FMCG dragging the headline index. The 30-share index of the BSE settled at 66,684.26, down 887.64 points while the NSE’s Nifty ended at 19,745 down 234.15 points on Friday.
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Nifty cracks below 19,750, down by 1.17 per cent.

Source: NSE
Sensex ends 888 points lower at 66,684, halts 6-day winning run.

Source: BSE
Infy, HUL, HCL Tech and Wipro are among the top losers, down nearly 8-3 per cent. On the other hand, L&T, ONGC, NTPC and SBI are among the top gainers in the Nifty basket, trading with gains of around 4-1 per cent.

Source: NSE
HDFC Life reports a 15 per cent increase in net profit at Rs 415 crore for first quarter of the current fiscal year. The company had reported Rs 361 crore profit in April-June 2022-23. The total premium rises 16 per cent to Rs 11,673 crore during the quarter as compared with Rs 10,050 crore in the year-ago period, HDFC Life said in a statement. Read more
United Spirits reports a consolidated net profit of Rs 477 crore for the first quarter ended June 2023. The company had posted a net profit of Rs 261 crore in the April-June quarter of the last fiscal. Total income rose to Rs 5,830 crore in the first quarter. It stood at Rs 7,157 crore in the year-ago period.
In a regulatory filing, United Spirits said the results of the quarter were not comparable to the June quarter of last fiscal as the company completed a slump sale of the entire business undertaking associated with 32 brands to Inbrew Beverages on September 30, 2022. Read more

Aditya Birla group firm UltraTech Cement on Friday reports a 7 per cent rise in its consolidated profit after tax (PAT) to Rs 1,688 crore for the first quarter ended June 2023, aided by robust sales in the domestic market. The company had posted a PAT of 1,584 crore in the April-June quarter of the last fiscal. Read more
United Spirits (NSE: MCDOWELL-N) trades at 1,041 or Rs 65.60 or 6.73 per cent on BSE. The counter shares rose as much as 7 per cent and hit a 52-week high on the BSE at Rs 1,047.95 apiece after the company posted better-than-expected results for the June quarter (Q1FY24).
Anil Singhvi’s view on United Spirits
Zee Business Managing Editor Anil Singhvi said that United Spirits is having a Tata Communications moment where its performance is improving quarter after quarter (QoQ). Singhvi added that this stock will become everyone’s favourite soon and has a scope of doubling or tripling in the coming time. Read more
As many as 35 stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.

Source: NSE

Source: BSE

As many as 4 stocks in the S&P BSE Sensex basket reached the milestone.

Larsen and Toubro (NSE: LT) shares trade at Rs 2,561, up by 2.87 per cent on NSE. The counter rose over 3 per cent and hit 52 week high on the BSE at Rs 2,572.8 apiece. The D- Street showed buying interest in the stock after the engineering and construction conglomerate announced it was considering a share buyback.
“A meeting of Board of Directors will be held on Tuesday, 25th July 2023, to approve….. buyback of equity shares of the Company in accordance with the provisions of the Companies Act, 2013 and SEBI (Buyback of Securities) Regulations 2018,” the regulatory filing read. Read more
Ashok Leyland reports a 747 per cent jump in its standalone net profit at Rs 576.42 crore for the quarter ended June 30, 2023. The firm had posted a profit of Rs 68.05 crore in the year-ago period. Revenue from operations comes in at Rs 8,189.29 crore, up 13.3 per cent against Rs 7,222.65 crore logged in the corresponding quarter of the previous fiscal. Read more
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Sacchitanand Uttekar, Sumeet Bagadia, Rakesh Bansal and Kunal Saraogi share their top recommendations for the day in this special segment, Pick of the Day.
On the top analysts’ ‘buy’ list are stocks such as ICICI Bank, MCX, Grasim, GAIL, ICICI Securities and Marico. Read more
Shares of Dalmia Bharat trade at Rs 1,951.4 apiece, down by Rs 69.55, or 3.44 per cent on the NSE. The dip in the counter follows after the cement manufacturer reported a 29.75 per cent decline in consolidated profit after tax (PAT) at Rs 144 crore for the June quarter, impacted by higher expenses. The stock opened at Rs 1,979 and dipped as much as nearly 4 per cent to touch the day’s low of Rs 1,943 from the previous close of Rs 2,020.95 on the NSE.
India’s fourth-largest cement producer by market capitsalisation — Dalmia Bharat—in a regulatory filing said that it had posted a consolidated profit after tax of Rs 205 crore in the first quarter of the last fiscal year. Consolidated revenue from operations was Rs 3,624 crore as compared to Rs 3,302 crore in the year-ago period.

Image source: Official website

Shares of Reliance Industries (RIL) slips more than 2 per cent to Rs 2,563.05 apiece on the NSE ahead of its June quarter results announcement, due later today. In the previous session, the domestic stock exchanges, NSE and BSE, conducted a one-hour special session for RIL to discover the price of its demerged entity, Jio Financial Services, which is expected to list on the bourses in the next 2-3 months.
Jio Financial Services (JFS) has been valued at around $20 billion after its stock price was set at a much higher-than-expected Rs 261.85 ($3.19) in its demerger from RIL. Read more
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