Domestic Indices are expected to open on a flat-to-negative note in line with the GIFT Nifty futures, trading flat in the early opening hours on Monday. 

The benchmark equity indices, NSE Nifty 50 and S&P BSE Sensex settled with gains on Monday, extending their previous session’s rally, despite a weak trend in global markets. 

The Nifty 50 closed 0.41% or 80.30 points higher at 19,597.3, while Sensex advanced 0.35% or 232.23 points to settle at 65,953.48. 

Companies Announcing Quarterly Results Today: Adani Ports, Coal India, Dish Tv, GSFC, Gujarat Alkalies, Happiest Minds, Hindalco, IdeaForge Technology, IRCON, Jet Airways, National Fertilizers, Oil India, Phoenix Mills, Star Cement, Tilaknagar Industries and Utkarsh SFB among others.

Godrej Consumer Products (GCPL): The FMCG major reported a 7.6% year-on-year (YoY) decline in its net profit for the first fiscal quarter of 2023 at Rs 318.82 crore, missing estimates. Its revenue from operations grew 10.4% to Rs 3,448.91 crore from Rs 3,124.97 crore during the year-ago period. Further, GCPL’s board of directors has approved a capital expenditure of Rs 900 crore for setting up new manufacturing units in Tamil Nadu and Madhya Pradesh.

Adani Green: Qatar Investment Authority (QIA) acquired a 2.7% stake in Adani Green Energy for a total consideration of Rs 3,920 crore in a block deal on Monday, nearly a month after the renewable energy firm raised funds from GQG Partners and other investors. The group will use the proceeds to reduce its debt. 

HDFC Bank: HDFC Bank’s investable weight in the FTSE Emerging all cap index grew from 0.81% to 1.52% following the HDFC-HDFC Bank merger. The largest private bank in India has also hiked its marginal cost-of-funds-based lending rate (MCLR) by up to 15 basis points to 8.35-9.20% per annum across select tenures with immediate effect.

Tata Chemicals: The Tata Group chemicals manufacturer posted an 11.8% YoY decline in net profit to Rs 523 crore in Q1FY24 compared to Rs 593 crore in the same period of FY23. However, the company’s total revenue grew by 5.6% to Rs 4,218 crore during the same period.

Torrent Pharma: Torrent Pharma clocked a 6.6% YoY rise in net profit at Rs 378 crore for the April-June quarter in the current fiscal. The company’s total revenue was 10% higher at Rs 3448.9 crore against Rs 3124.9 crore in Q1FY23.