Equity markets began the week positively, closing at a day’s high. Ultratech, IOC, Adani Energy, Adani Total Gas, Kfin Tech, and Tata Chemicals will be in focus this week due to various developments and quarterly earnings. Spandana Sphoorty, UCO Bank, Rossari Biotech, RVNL, Kfin Technologies, KEC International, Shoppers Stop, Tata Chemicals, and Coromandel International also reported their quarterly results. Read more for details.
Indian Oil Corporation (IOC) is in talks with the Nuclear Power Corporation of India Limited (NPCIL) to explore the possibility of setting up small nuclear reactors at IOC’s refineries.
Tech View: Nifty on Thursday ended 144 points higher and formed a high-wave type candle pattern. Larsen & Toubro raises Rs 1,500 crore through NCDs. US stocks open higher on hopes of the end of Fed’s rate hikes. Oil gains 1% after Fed keeps rates unchanged. Pound rises after Bank of England holds rate steady. Akzo Nobel India reports a 44% increase in net profit. Tata Motors reports Q2 results with a rise in revenue. Adani Enterprises reports a 848% growth in net profit in Q2.
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The inclusion of cricket in the Olympics opens up the untapped South Asian market for the International Olympic Committee (IOC). This move could drive up the value of Olympic rights in India and make it the second most lucrative sports property in the country, after the IPL.
