The markets prolonged its successful run to the seventh-straight day on Monday on the again of aggressive shopping for steel and choose IT and monetary shares.
The BSE Sensex scaled a contemporary summit at 61,963, and ended 460 factors greater at 61,766. The NSE Nifty 50 completed with a acquire of 139 factors at 18,477.
Metal shares, particularly metal, will proceed to stay in limelight.
Analysts anticipate the momentum in steel shares to proceed within the backdrop of an increase in metal costs, which have gone up by Rs 1,500-3,000 per tonne. On Monday, the BSE Metal index had ended with a acquire of over 4 per cent.
Crisil, for example, sees an enchancment within the working margin as nicely for key gamers going forward.
“There is room to lift home costs additional, and a correction this quarter seems unlikely as costs are prone to maintain.
Rising uncooked materials costs in China and the anticipated coal/ energy scarcity will probably weigh on the sooner anticipated worth correction,” Crisil mentioned.
Here are the businesses that are scheduled to announce their September quarter numbers today
L&T Technology Services
Navin Fluorine International
Among the lot, analysts anticipate HUL to submit low double-digit progress in September quarter income between 10 per cent and 15 per cent, whereas the underside line could rise by 8-10 per cent on a year-on-year foundation.
A drop in costs of cement resulting from weak demand coupled with enter value escalation is predicted to maintain EBITDA of the home cement trade muted for the September quarter, mentioned brokerages.
While ACC is predicted to be a laggard within the September quarter, different bigger friends like Shree Cement, Dalmia Bharat and Ambuja Cements are anticipated to report combined traits, it mentioned. For ACC and Ambuja Cements July-September represents Q3 (CY2021) as they comply with January-December accounting year.
Business Standard has all the time strived exhausting to supply up-to-date info and commentary on developments that are of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these tough instances arising out of Covid-19, we proceed to stay dedicated to retaining you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nonetheless, have a request.
As we battle the financial impression of the pandemic, we want your help much more, so that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the targets of providing you even higher and extra related content material. We consider in free, honest and credible journalism. Your help via extra subscriptions will help us practise the journalism to which we’re dedicated.
Support high quality journalism and subscribe to Business Standard.