Sensex Today Trades Marginally Higher | Gland Pharma Surges 4%, Piramal Enterprises Plunges 5% | NTPC & Tata Steel Top Gainers

Mon, 31 Jul 10:30 am

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Asian share markets are trading higher following Friday's US data showing an easing in wage costs and core inflation, which fuelled hopes the Federal Reserve was done tightening.

The Nikkei is trading 1.2% higher, and the Hang Seng index is trading 1.5% higher. While shanghai Index is trading 0.6% higher.

US Stocks ended higher on Friday after data showed annual inflation slowed down in June, raising hopes that the Federal Reserve is nearing the end of its interest rate hiking cycle. Earnings from technology companies also supported the rally.

The Dow Jones Industrial Average ended 0.5% higher, and the tech heavy Nasdaq Composite ended 1.9% higher.

Here's a table showing how US stocks performed on Friday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	133.01	3.14	2.42%	134.07	130.92	134.07	83.45
Apple	195.83	2.61	1.35%	196.63	194.14	198.23	124.17
Meta	325.48	13.77	4.42%	326.20	314.25	326.20	88.09
Tesla	266.44	10.73	4.20%	267.25	258.23	314.67	101.81
Netflix	425.78	12.61	3.05%	427.47	413.76	485.00	211.73
Amazon	132.21	3.96	3.09%	133.01	129.33	146.57	81.43
Microsoft	338.37	7.65	2.31%	340.01	333.17	366.78	213.43
Dow Jones	35,459.30	176.60	0.50%	35,565.51	35,355.15	35,645.35	28,660.94
Nasdaq	14,316.70	266.60	1.90%	14,344.35	14,188.10	14,446.55	10,088.83

Source: Equitymaster

Back home, Indian share markets are trading on a positive note today.

At present, the BSE Sensex is trading higher by 49 points. Meanwhile, the NSE Nifty is trading up by 8 points.

NTPC, Tata Steel and JSW Steel are among the top gainers today.

Apollo Hospital, Asian Paints and Sun Pharma on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.2% higher and the BSE Small Cap index is trading 0.9% higher.

Sectoral indices are trading on a mixed note today with stocks in power sector, and metal sector witnessing most buying.

While the stocks in the FMCG sector and banking sector witnessed selling pressure.

Shares of Abbott India and Tasty Bite hit their 52-week high today.

The rupee is trading at Rs 82.29 against the US dollar.

In commodity markets, gold prices are trading lower by 0.3% at Rs 59,635 per 10 grams today.

Meanwhile, silver prices are trading 0.3% lower at Rs 73,850 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of the stock markets, Rahul Shah co-head of research at Equitymaster, talks about a simple rule to navigate this all-time high market.

The index has already gone up 16% from its March lows and there is nothing on the horizon for the time being that can stop the rally in its tracks.

This presents the classic dilemma for the average investor. Should we take advantage of this rally and exit a few stocks, or should he keep riding the bull to new highs?

Tune in to the below video to know how to navigate.

IDFC First Bank Q1 results

IDFC First Bank on 29 July reported a 61.3% year-on-year (YoY) increase in net profit at Rs 7.7 bn for the first quarter of the current financial year, aided by healthy growth in the net interest income and improved asset quality.

The Mumbai-based private sector lender's net interest income (NII), the difference between the interest earned from lending and paid to depositors, grew 36% on-year to Rs 37.5 bn.

Net interest margin, a key metric of profitability, was up 0.5% at 6.3% from the year-ago period but was lower than 6.4% in the previous quarter.

Fee and other income grew 49% YoY to Rs 13.4 bn. Core operating income (NII plus fees excluding trading gains) grew 39% to Rs 50.8 bn.

Gross non-performing assets (GNPsA) as a percentage of the total loans were 2.1%, lower from 3.3% in the year-ago period and 2.5% in the previous quarter.

The net NPA ratio was 0.7%, down from 1.3% in the same quarter of the previous year and 0.86% in Q4FY23.

In absolute terms, gross NPAs improved to Rs 36 bn from Rs 38.9 bn in the March quarter and Rs 43.5 bn in the year-ago period.

For a detailed analysis of IDFC First Bank's meteoric rise, check out IDFC First Bank: The Next Kotak or the Next Yes Bank.

TCS senior leadership changes

Tata Consultancy Services (TCS), India's largest software company, has rolled out a new operating structure, the first significant move by CEO K Krithivasan after he took charge on 1 June.

TCS also rejigged its senior leadership, adding several new senior executives, global heads and veterans who have spent over 18-30 years with the company.

On 29 July, the company said that based on the discussions with customers and associates over the last couple of months, TCS will be able to deliver the best value to the customers by synergising its domain and contextual knowledge across units.

In this context, the company have announced the new operating structure, which regroups our existing Industry Solutions Unit (ISUs) along industry segments into key business groups. The above changes will help in deepening customer centricity, which is pivotal to our growth.

The move appears to be a grudging reversal of the reorg that TCS unveiled earlier; while clients will still be grouped into four buckets based on their account size, they will ultimately be housed within industry verticals.

Tata Consultancy Services (TCS) is a bright shining star in the galaxy of Tata Group companies.

TCS has been one of the favourite stocks of investors because of the performance it has delivered since its listing.

If you had invested Rs 1 lakh in TCS shares at the issue price of Rs 850 in the IPO in 2004, the value of that investment today would be around Rs 3,176,000, a return of almost 3,000% by August 2022.

With strong fundamentals, it stands among the 5 best long-term companies of 2023.

Power Grid Corporation to raise funds

Power Grid Corporation's board has approved a proposal to raise Rs 57 bn through the issuance of bonds on a private placement basis in multiple tranches in 2023-24.

The funds raised will be used to part finance its capital expansion requirement, to provide inter-corporate loans to wholly-owned subsidiaries/JVs and for general corporate purposes.

This will be done by securitisation of cashflows of four operational SPVs (special purpose vehicles) - PowerGrid Bhuj Transmission, PowerGrid Khetri Transmission System, PowerGrid Medinipur Jeerat Transmission System and PowerGrid Varanasi Transmission System up to March 2034.

The company is raising Rs 5 bn in the first tranche with a green shoe option of (additional) Rs 14 bn.

With power consumption on the rise, Poer Grid Corporation is among the top 5 power companies in India by growth.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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