Nifty likely to open flat ahead of RBI policy meet

KS Badri Narayanan Chennai August 3 | Updated on August 03, 2021

RIL, Apollo Tyres and NCC are the stocks to watch out for today

Domestic market is likely to open on a flat note amid mixed global cues. According to analysts, the market is likely to move in a range unless follow-up buying emerges from foreign portfolio investors. So far, economic indicators and quarterly results are positive.

As the RBI is meeting for three-day monetary policy from tomorrow, marketmen expected a status quo stance on interest rate and await clues from the committee on growth and inflation projections.

The SGX Nifty at 15,873 (8 am IST) signals a flat opening for market ass the US markets closed on mixed note despite opening firmly on Monday. Asian markets too trade in negative territory by about 0.3-0.8 per cent.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said: “Current valuations, while not expensive demand consistent earnings delivery v/s expectations for further outperformance”.

While the Index may be trading in a tight range, the gradual opening up of the economy and an improved demand backdrop do offer bottom-up opportunities, he said and added: “The primary market too continues with flurry of activity with as many as 4 IPOs lined up during this week and 3 more next week. Going ahead, the market is likely to continue to take support from ongoing corporate earnings season, upcoming RBI’s MPC meeting and slew of macro data.


Reliance Industries Ltd has invested ₹1,00,000 in cash in 10,000 equity shares of ₹10 each of 'Reliance New Solar Energy Limited' (RNSEL), a newly incorporated wholly owned subsidiary. RNSEL is incorporated to undertake activities relating to solar energy. RNSEL is yet to commence its business operations. The investment in RNSEL does not fall within related party transaction and the promoter / promoter group / group companies do not have any interest in RNSEL.

Apollo Tyres: The Committee of Directors of PTL Enterprises Ltd has approved a proposal to invest an amount not exceeding ₹50 crore in addition to the earlier authorisations, in the equity shares of Apollo Tyres through open market in one or more tranches. The board also approved proposal to borrow an amount not exceeding ₹40 crore) in addition to the earlier authorisations, to invest in the equity shares of the ATL.

VA Tech Wabag, a leading pure-play water technology Indian Multinational Group, consolidates its market position in the Oil & Gas sector further, by securing a breakthrough engineering and procurement order worth $165 million (about ₹1,230 crore) from Amur Gas Chemical Complex LLC., CAGCC') in Russia. AGCC is a joint venture of SIBUR Holding Russia and China Petroleum & Chemical Corporation. AGCC is set to become one of the world's largest basic polymer production facilities.

NCC has received four new orders totaling to ₹1,679 crore (exclusive of GST) in July. Out of the total orders, one order valuing ₹732 crore pertains to Building Division and two orders valuing ₹730 crore pertain to Water and Environment Division, and one order valuing ₹217 Crore pertains to Electrical Division. These orders are received from State Government agencies and do not include any internal orders.

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has received domestic order worth ₹51 crore from a Foreign Multinational Tier 1 OEM. The order is to be implemented over the period of 3 years distributed equally.

Results corner

Adani Enterprises, Adani Ports and Special Economic Zone, Alkyl Amines, Bajaj Healthcare, Bank of India, Barbeque-Nation Hospitality, Bharti Airtel, BSL, CARE Ratings, CL Educate, Dabur India, Dhampur Sugar Mills, ELGI Equipments, Enkei Wheels, Everest Industries, Godrej Properties, IIFL Wealth Management, Inox Leisure, Indian Overseas Bank, Kajaria Ceramics, Kalpataru Power Transmission, Kirloskar Brothers, Munjal Showa, Neuland Laboratories, NOCIL, Pioneer Embroideries, Prataap Snacks, Shipping Corporation of India, Simplex Realty, Tata Consumer Products, Transport Corporation of India, and TRF will release their quarterly earnings on August 3.

Published on August 03, 2021

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