HUL, Bharti Airtel, Bajaj Auto, Bajaj Finserv, IOC, GAIL, ONGC, IGL, Jubilant Foodworks stocks in focus

Analysts believe concerns over global economic recovery are worrying investors as the third Covid wave is fast spreading. Image: Reuters

Nifty futures were trading 131.50 points or 0.84 per cent on Singaporean Exchange, indicating a higher opening for BSE Sensex and Nifty 50 on weekly F&O expiry day. So far this week, Nifty 50 index has fallen 1.5 per cent, while Bank Nifty lost nearly 2 per cent. Analysts believe concerns over global economic recovery are worrying investors as the third Covid wave is fast spreading. “We may see further slide ahead and Nifty may find support around 15,450 i.e. lower band of the prevailing consolidation range. Meanwhile, earnings will continue to provide opportunities to the traders however we suggest keeping a check on position sizing and focus on overnight risk management,” said Ajit Mishra, VP – Research, Religare Broking.

Stocks to watch

BSE-listed companies such as Hindustan Unilever Ltd, Ultratech Cement, Bajaj Auto, Hindustan Zinc, ICICI Lombard Genenral Insurance Company, Biocon, Mphasis, Bajaj Holdings, Persistent Systems, IndiaMART InterMESH, Bank of Maharashtra, and IEX will announce their April-June quarter earnings on 22 July.

Bajaj Finserv will enter the asset management business, Sanjiv Bajaj- chairman and managing director, Bajaj Finserv, said on Wednesday at the company’s annual general meeting. The company has applied for a licence to start an asset management company and is awaiting approval from the Securities and Exchange Board of India.

Bharti Airtel will be partnering with US chipmaker Intel for 5G network development by leveraging virtual and open radio access network (vRAN/O-RAN) technologies. The collaboration is part of Airtel’s 5G roadmap for the country and the company is transforming its network to allow customers to reap the benefits of next-gen technologies.

Jubilant Foodworks, which operates fast-food chains such as Domino’s Pizza and Dunkin’ Donuts, on Wednesday reported a consolidated net profit of Rs 69.06 crore in the first quarter ended June 30, aided by higher revenues despite the second wave of COVID-19 disrupting operations.

Gland Pharma: Gland Pharma reported an 11.83 per cent jump in its consolidated net profit to Rs 350.7 crore for the quarter ended June 30, 2021. The company had posted a net profit of Rs 313.6 crore for the corresponding period of the previous fiscal.