After scaling fresh record highs in the week gone by, markets could be in for a volatile ride in the truncated week. Quarterly earnings outcome and management commentary on recovery amid absence of any macroeconomic data will largely decide market momentum. Analysts expect sector-specific movement to continue amid the ongoing results season. Besides, global cues, FII flow trends and updates on the Covid front will also be on investor radar. Equity markets would remain closed on Wednesday for Bakri-Id. On the earnings front, some 200 corporates are poised to post their quarterly numbers. Some of the prominent names are ACC, HCL Technologies, HDFC Life Insurance Company, Asian Paints, Bajaj Finance, ICICI Prudential Life Insurance Company, Bajaj Finserv, Bajaj Auto, Hindustan Unilever, UltraTech Cement, Ambuja Cements, JSW Steel, Reliance Industries, ICICI Bank and ITC.
Glenmark Life Sciencesâ Rs 1,600-cr IPO may open next week
Glenmark Life Sciencesâ IPO comprises a fresh issue of Rs 1,160 crore and a sale of 7.3 million shares by promoter Glenmark Pharmaceuticals Glenmark Life Sciences filed for an updated DRHP last week BusinessToday.In
Updated Jul 19, 2021, 9:44 AM IST
Glenmark Life Sciences (GLS), a unit of Glenmark Pharmaceuticals is among a long list of companies queuing for an initial public offering. The company filed for an updated draft red herring prospectus (DRHP) last week. GLSâ Rs 1,600-crore IPO is likely to be launched later in July.
While Glemark has not officially said anything on the matter, sources told The Economic Times that they are aiming to hit the primary markets next week.
Domestic equity indices look set to see a gap-down start, tracking weakness across Asian markets amid concerns over rising cases of Covid’s Delta variant. All eyes will be on the listing of GR Infra and Clean Science. Investors may also react to HDFC Bank s Q1 results and await quarterly earnings from HCL Tech and ACC, scheduled for today. Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on Singapore Exchange traded 238 points, or 1.49 per cent, lower at 15,698.50, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty50 on Friday hit an all-time high of 15,962 but settled flat. Analysts took heart in the fact that the index managed to stay above the 15,900 level.
Here are the top stocks to track in today s session:
Results Today: ACC, HCL Technologies, HDFC Life, Indian Bank and Mastek are among 25 firms slated to post their June quarter numbers today. HCL Tech s Q1 performance is likely to be impacted due to supply-side challenges amid the second Covid-19 wave. The net profit could rise in the range of 6-11 per cent year-on-year on a 14 per cent growth in revenue (rupee terms). The company could give a specific guidance range for FY22 at around 12–13 per cent - moving away from a generic double-digit projection mentioned earlier, according to Edelweiss Securities.
Clean Science and Technology, GR Infraprojects shares to be listed today, GMP indicates strong debut
Clean Science, GR Infra Listing, Grey Market Premium (GMP): The shares Clean Science and Technology and GR Infraprojects Limited will be listed on the stock exchange today. The equity shares of the two companies will be listed on NSE and BSE at 10 am. Â
Clean Science is a specialty chemical manufacturer. Its Rs 1,546.62-crore initial public offering (IPO) was entirely an offer for sale (OFS) by existing promoters and other shareholders. Its IPO, a lot comprising 16 equity shares, was subscribed 93.41 times. The company had earlier raised Rs 464 crore from anchor investors.