The market is expected to consolidate for next few sessions before resuming its northward journey, but the long term trend remains positive, experts said
Bulls continued to dominate Dalal Street for the third consecutive week as the Nifty and Sensex hit fresh intraday record highs of 11,495.20 and 38,076.23, respectively, in the week-ended August 10.
Inflow from foreign institutional investors, continued buying in banking and financials and in-line better-than-expected Q1 earnings boosted investor sentiment, though there is a caution in global peers due to trade tensions.
The Sensex gained 0.83 percent to close the week at 37,869.23. The Nifty rose 0.60 percent to end Friday at 11,429.50. Both benchmark indices have rallied 3.8 percent in the last three weeks.
The broader market underperformed frontliners with the BSE Midcap and Smallcap indices gaining 0.02 percent and 0.29 percent, respectively, in the passing week but outperformed in three consecutive weeks, rising 6.7 percent each.
After such an upmove and given that we are at the fag end of the June quarter earnings season, which seems to have been priced in, and continued uncertainty over US-China trade war, experts expect the market to consolidate for the next few sessions before resuming its northward journey. However, they were quick to add that the long term trend remains intact.
Experts don't see any major risk on the domestic front, adding that any sharp correction if it occurs will only be because of global reasons.
"With the index trading at a record high, some consolidation cannot be ruled out. We expect stock-specific volatility to continue with more corporate earnings scheduled in the next few sessions," Jayant Manglik, President, Religare Broking told Moneycontrol.
Experts said market participants would keep an eye on global developments especially the US-China trade war, progress of the monsoon, macroeconomic data, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), movement of the rupee against the dollar and crude oil price trajectory.
"We continue to remain positive on market. We feel a sufficient monsoon, hike in the minimum support price and government infrastructure spending will be positive for the consumption theme," Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas said.
Indian stock market will remain shut on Wednesday, August 15, on account of Independence Day.
Here are 10 key factors that will keep traders busy next week:Earnings
As we enter the final week of June quarter earnings season, nearly 1,800 companies will declare their quarterly earnings. Most of these will be out in the first two sessions of the week itself.
Tata Steel, Tata Chemicals, Cadila Healthcare, CARE Ratings, Godrej Industries, DHFL, Oil India, Ashoka Buildcon and Hotel Leela Venture will announce their numbers on Monday, while Sun Pharmaceutical Industries, IDBI Bank, Allahabad Bank, Grasim Industries, Indiabulls Real Estate, HDIL and Dilip Buildcon will declare results on Tuesday.
Results on Monday
Results on Tuesday
Globally investors will continue to closely watch trade tensions between the world's largest economies: US and China. In the week gone by, both governments announced the possibility of imposing tit-for-tat tariffs on an additional $16 billion worth of goods.Dollar-rupee and crude movements
The rupee ended the week at 68.83 against the dollar, falling 22 paise compared to closing value of 68.61 a dollar on August 3 due to appreciation in the American currency. On Friday, it did hit 69 a dollar intraday.
The fall in currency was after upside seen in previous two consecutive weeks, as renewed global currency turmoil (hit by the sudden wave of risk-off on mounting fears over a political crisis in Turkey) and worsening trade war fears worldwide rattled the forex market in a big way.
Further depreciation in the rupee may act as a dampener in the near term for equities, ICICIdirect Research said.
Crude oil prices corrected for the week-ended August 10 as investors worried that global trade disputes could slowdown economic growth and hurt demand for energy.
US crude futures fell more than a percent during the week, posting its sixth straight weekly loss for its worst losing streak since August 2015. Brent was down around half a percent.Macro data
Consumer price index (CPI) inflation will be released on Monday while Wholesale price index (WPI) Inflation and trade data for July will be announced on Tuesday.
India's Foreign Exchange Reserves for the week ended August 10 and deposit & bank loan growth for the week ended August 3 will be declared on Friday.Money flow
Foreign institutional investors and domestic institutional investors' flow will be closely watch in the coming week after they were net buyers in the passing week.
FIIs inflow remained supportive factor during the week ended August 10 as they were net buyers to the tune of around Rs 1,300 crore while DIIs (as per provisional data) were also net buyers to the tune of Rs 301 crore.Technical outlook
The Nifty opened the week above 11,400 levels and managed to hold the same level at close on Friday. It remained rangebound for major part of the week, though it touched intraday record high of 11,495.20 amid stable to better-than-expected earnings.
The index formed Spinning Top candle on the weekly candlestick charts. Spinning Top is often regarded as a neutral pattern which suggests indecisiveness on the part of both bulls as well as bears. It can be formed in an uptrend as well as in a downtrend.
After positive close for five consecutive sessions, the Nifty ended Friday on a negative note, which indicated that there could be consolidation before moving northward, experts said.
"The Nifty ended the week with a spinning top candle while negative divergence in daily RSI is clearly visible. It broke out the higher end of the range 11,180-11,440 and touched the high of 11,495. However, sell-off on the last session of the week led the benchmark index back below 11,440," Stewart & Mackertich Wealth Management said.
Hence, staying cautious on rise is advised and the Nifty getting into a sideways movement with negative bias in coming few sessions is likely, it feels. "A short-term retracement against the broader uptrend is likely. Hence, intraday bulls may find difficulty breaking out 11,500 as of now. However, breaking out 11,500 may again initiate a rise up to 11,550 and 11,650. But, that looks unlikely at this juncture analyzing the overall chart pattern."
The research house said further, thorough technical study of the weekly as well as the daily chart patterns suggests, Nifty broader trading range for the coming week is expected to be 11,320-11,550.Futures & OptionsMaximum call open interest (OI) of 41.51 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for August series. This was followed by the 11,600 strike price, which now holds 27.57 lakh contracts in open interest, and 11,700, which has accumulated 24.34 lakh contracts in open interest.
Maximum put open interest of 50.70 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for August series. This was followed by the 11,200 strike price, which now holds 43.32 lakh contracts in open interest, and the 11,300 strike price, which has now accumulated 41.12 lakh contracts in open interest.
"The Call base of 11,500 remained almost unchanged despite the Nifty testing these levels. At the same time, significant additions were seen at Put strikes of 11,200 and 11,300 during the week," ICICIdirect Research said.
It believes 11,300 is likely to act as immediate support for the Nifty in the ongoing momentum. "Any extended profit booking should be seen only if the Nifty moves below 11,300."
The PCR OI for the Nifty continued to rise in the current uptrend where no major profit booking took place as traders are getting more comfortable in writing Put options. At the same time, current Nifty futures open interest is highest since January 2018.
"With high PCR OI and high Nifty open interest, we believe consolidation is more likely than continued momentum. However, positive bias should be maintained till we see some sharp closure of positions," the research house said.
Stocks in Focus
Coal India: Q1 consolidated profit up 61.1 percent at Rs 3,786.4 crore versus Rs 2,350.8 crore; revenue up 26.6 percent at Rs 24,260.9 crore versus Rs 19,161.7 crore (YoY)
Power Mech: Q1 profit up 42.5 percent at Rs 30.5 crore versus Rs 21.4 crore; revenue up 28.9 percent at Rs 461.9 crore versus Rs 358.4 crore (YoY).
NBCC: Q1 consolidated profit up 23.9 percent at Rs 73.2 crore versus Rs 59.1 crore; revenue up 19.1 percent at Rs 1,844 crore versus Rs 1,548.9 crore (YoY).
VRL Logistics: Q1 profit down 28.3 percent at Rs 24.2 crore versus Rs 33.7 crore; revenue up 7.4 percent at Rs 528.5 crore versus Rs 491.9 crore (YoY).
Rushil Decor: Q1 profit down 19.5 percent at Rs 5.2 crore versus Rs 6.4 crore; revenue up 9.8 percent at Rs 86.6 crore versus Rs 78.9 crore (YoY).
India Cements: Q1 profit down 20.6 percent at Rs 21 crore versus Rs 26.4 crore; revenue down 6.9 percent at Rs 1,360.7 crore versus Rs 1,461.6 crore (YoY).
Glenmark Pharma: Q1 profit down 30 percent at Rs 233 crore versus Rs 333.4 crore; revenue down 8.4 percent at Rs 2,165.6 crore versus Rs 2,363 crore (YoY).
Adani Green: Q1 consolidated loss at Rs 74.3 crore versus loss of Rs 17 crore; revenue jumps to Rs 472.2 crore versus Rs 190 crore (YoY).
Corporation Bank: Q1 profit up 41.1 percent at Rs 85 crore versus Rs 60.1 crore; NII up 51.1 percent at Rs 1,564.2 crore versus Rs 1,035 crore (YoY).
Finolex Industries: Q1 net profit up 29.5 percent at Rs 103.3 crore versus Rs 79.8 crore; revenue up 13.3 percent at Rs 827.8 crore versus Rs 730.7 crore (YoY).
Advanced Enzyme: Q1 consolidated net profit up 92 percent at Rs 31.2 crore versus 16.3 crore; revenue up 38.2 percent at Rs 104.3 crore versus Rs 75.5 crore (YoY).
DLF: Q1 profit up 58.2 percent at Rs 172.4 crore versus Rs 109 crore; revenue down 26.4 percent at Rs 1507.4 crore versus Rs 2047.7 crore (YoY).
Union Bank of India: Q1 profit up 11.2 percent at Rs 129.5 crore versus Rs 116.5 crore; NII rises to Rs 2,626.2 crore versus Rs 2,242.6 crore (YoY).
NHPC: Q1 profit down 14.5 percent at Rs 737.6 crore versus Rs 862.7 crore; revenue down 8.5 percent at Rs 2,129 crore versus Rs 2,327.5 crore (YoY).
Sun TV Network: Q1 profit up 62.6 percent at Rs 409.1 crore versus Rs 251.6 crore; revenue up 42.5 percent at Rs 1,120.4 crore versus Rs 786.3 crore (YoY).
Godfrey Phillips: Q1 profit at Rs 56.7 crore versus loss of Rs 3.1 crore; revenue up 6.6 percent at Rs 574.9 crore versus Rs 539.4 crore (YoY).
MRPL: Q1 profit down 33.2 percent at Rs 362 crore versus Rs 542.1 crore; revenue down 9.6 percent at Rs 13,557.8 crore versus Rs 14,990.7 crore (QoQ).
Nile: Q1 profit down 45.2 percent at Rs 2.9 crore versus Rs 5.3 crore; revenue up 6.1 percent at Rs 153 crore versus Rs 144.2 crore (YoY).
Rajshree Sugars: Q1 loss at Rs 25.3 crore versus profit of Rs 18.2 crore; revenue down 53.7 percent at Rs 93.4 crore versus Rs 201.6 crore (YoY).
TVS Srichakra: Q1 profit up 95.6 percent at Rs 48.5 crore versus Rs 24.8 crore; revenue up 9 percent at Rs 587.8 crore versus Rs 539.3 crore (YoY).
Thyrocare: Q1 profit up 6.4 percent at Rs 23.4 crore versus Rs 22 crore; revenue up 10.7 percent at Rs 97.2 crore versus Rs 87.8 crore (YoY).
Timken India: Q1 profit up 44.3 percent at Rs 31.6 crore versus Rs 21.9 crore; revenue up 27.9 percent at Rs 383.4 crore versus Rs 299.8 crore (YoY).
Vakrangee: Q1 profit down 92.2 percent at Rs 13.1 crore versus Rs 168 crore; revenue down 22.6 percent at Rs 1,011.5 crore versus Rs 1,301.8 crore (YoY).
Sheela Foam: Q1 profit up 23.7 percent at Rs 33.4 crore versus Rs 27 crore; revenue up 22.5 percent at Rs 425.6 crore versus Rs 347.3 crore (YoY).
Indian Hotels: Q1 loss at Rs 16.7 crore versus profit of Rs 7.7 crore; revenue up 7 percent at Rs 564.6 crore versus Rs 527.7 crore (YoY).
PC Jeweller: Q1 profit up 4.5 percent at Rs 141.9 crore versus Rs 135.8 crore; revenue up 14.6 percent at Rs 2423.2 crore versus Rs 2115 crore (YoY).
CG Power: Q1 profit up 18.7 percent at Rs 36.8 crore versus Rs 31 crore; revenue up 0.1 percent at Rs 1,179.8 crore versus Rs 1,178.5 crore (YoY).
Andhra Bank: Q1 loss at Rs 539.8 crore versus profit of Rs 40.4 crore; NII up 1.3 percent at Rs 1,460 crore versus Rs 1,441 crore (YoY).
JB Chemicals: Q1 profit at Rs 42 crore versus Rs 20.36 crore; revenue up 28.9 percent at Rs 366 crore versus Rs 283.2 crore (YoY).
Puravankara: Q1 profit up 29.7 percent at Rs 27 crore versus Rs 20.7 crore; revenue up 12.9 percent at Rs 382 crore versus Rs 338.5 crore (YoY).
Gujarat Mineral: Q1 profit up 30.7 percent at Rs 187 crore versus Rs 143 crore; revenue up 10.5 percent at Rs 672 crore versus Rs 608.4 crore (YoY).
Aditya Birla Capital: Q1 profit increases at Rs 216 crore versus Rs 172 crore; revenue rises to Rs 2,978 crore versus Rs 2,253 crore (YoY).
Surya Roshni: Q1 profit up 24.2 percent at Rs 20.5 crore versus Rs 16.5 crore; revenue up 11.8 percent at Rs 1270.5 crore versus Rs 1136.9 crore (YoY).
Uflex: Q1 profit up 0.6 percent at Rs 94.4 crore versus Rs 93.8 crore; revenue up 11.2 percent at Rs 1,904.8 crore versus Rs 1,713.3 crore (YoY).
TNPL: Q1 profit down 32.6 percent at Rs 38.8 crore versus Rs 57.6 crore; revenue down 11.9 percent at Rs 925.3 crore versus Rs 1,050 crore (YoY).
Rupa: Q1 profit up 10.8 percent at Rs 10.3 crore versus Rs 9.3 crore; revenue up 12.2 percent at Rs 183.5 crore versus Rs 163.5 crore (YoY).
IOC: Q1 profit rises to Rs 6,831 crore versus Rs 4,548.5 crore; revenue jumps to Rs 1,49,746.88 crore versus Rs 1,28,182.50 crore (YoY).
Amara Raja Batteries: Q1 profit jumps to Rs 113.03 crore versus Rs 99.85 crore; revenue surges to Rs 1,778.7 crore versus Rs 1,497.45 crore (YoY).
IOL Chemicals and Pharmaceuticals: Q1 profit spikes to Rs 14.41 crore versus Rs 2.98 crore; revenue rises to Rs 361.84 crore versus Rs 215.31 crore (YoY).
Sandur Manganese and Iron Ores: Q1 profit rises to Rs 52.27 crore versus Rs 18.53 crore; revenue jumps to Rs 204.51 crore versus Rs 124.62 crore (YoY).
Sarda Energy & Minerals: Q1 profit falls to Rs 44.6 crore versus Rs 53 crore; revenue rises to Rs 623.61 crore versus Rs 490.68 crore (YoY).
Texmo Pipes & Products: Q1 profit doubles to Rs 99.40 lakh versus Rs 47.83 lakh; revenue rises to Rs 83.80 crore versus Rs 73.08 crore (YoY).
Balkrishna Industries: Q1 profit jumps to Rs 230.25 crore versus Rs 153.14 crore; revenue increases to Rs 1,362.4 crore versus Rs 1,012 crore (YoY).
Vadilal Industries: Q1 profit rises to Rs 32.35 crore versus Rs 24.75 crore; revenue falls to Rs 229.16 crore versus Rs 237.60 crore (YoY).
Dalmia Bharat: Q1 profit falls to Rs 124.3 crore versus Rs 136.15 crore; revenue rises to Rs 2,367.58 crore versus Rs 2,044.12 crore (YoY).
Career Point: Q1 profit declines to Rs 6.26 crore versus Rs 6.95 crore; revenue increases to Rs 26.38 crore versus Rs 22.62 crore (YoY).
State Trading Corporation: Q1 profit slips to Rs 1.46 crroe versus Rs 12.63 crore; revenue drops to Rs 37.34 crore versus Rs 47.99 crore (YoY).
Sterling Tools: Q1 profit jumps to Rs 14.03 crore versus Rs 9.5 crore; revenue rises to Rs 131.3 crore versus Rs 97.91 crore (YoY).
Andhra Cements: Q1 loss at Rs 31.34 crore versus loss of Rs 25.42 crore; revenue falls to Rs 92.93 crore versus Rs 108.50 crore (YoY).
Salzer Electronics: Q1 profit rises to Rs 4.54 crore versus Rs 4.06 crore; revenue increases to Rs 126.46 crore versus Rs 104.6 crore (YoY).
Avanti Feeds: Q1 consolidated profit falls to Rs 90 crore versus Rs 148.8 crore; revenue rises to Rs 1,040.2 crore versus Rs 998.2 crore (YoY).
IFGL Refractories: Q1 consolidated profit drops to Rs 15.46 crore versus Rs 19.81 crore; revenue rises to Rs 236.94 crore versus Rs 228.27 crore (YoY).
DCM Shriram Industries: Q1 profit falls to Rs 23.25 crore versus Rs 32.58 crore; revenue slips to Rs 464.55 crore versus Rs 472.2 crore (YoY).
Rolta India: Q1 loss at Rs 36.70 crore versus profit at Rs 32.91 crore; revenue drops to Rs 636.53 crore versus Rs 723.88 crore (YoY).
VST Tillers Tractors: Q1 profit slips to Rs 14.38 crore versus Rs 28.18 crore; revenue declines to Rs 145.55 crore versus Rs 181.20 crore (YoY).
Tree House Education: Q1 loss at Rs 12.94 crore versus loss at Rs 14.49 crore; revenue falls to Rs 1.25 crore versus Rs 3.5 crore (YoY).
Shriram EPC: Q1 profit up 41 percent at Rs 5.5 crore versus Rs 3.9 crore; revenue down 37.4 percent at Rs 129.9 crore versus Rs 207.6 crore (YoY).
Prabhat Dairy: Q1 profit up 89.7 percent at Rs 11 crore versus Rs 5.8 crore; revenue up 7.3 percent percent at Rs 385.7 crore versus Rs 359.6 crore (YoY).
Technocraft Industries: Q1 profit up 35.8 percent at Rs 27.9 crore versus Rs 20.5 crore; revenue up 26 percent at Rs 274 crore versus Rs 217.5 crore (YoY).
GTPL Hathway: Q1 profit up 4.1 percent at Rs 12.6 crore versus Rs 12.1 crore; revenue up 5.8 percent at Rs 296.9 crore versus Rs 280.6 crore (YoY).
Jindal Poly Films: Q1 profit jumps to Rs 54 crore versus Rs 12 crore; revenue up 30.6 percent at Rs 874.3 crore versus Rs 669.5 crore (YoY).
Titagarh Wagons: Q1 profit down 33.4 percent at Rs 2.2 crore versus Rs 3.3 crore; revenue up 60.4 percent at Rs 131.8 crore versus Rs 82.2 crore (YoY).
Balaji Telefilms: Q1 loss at Rs 1.2 crore versus profit of Rs 7.3 crore; revenue down 11.9 percent at Rs 133.6 crore versus Rs 151.6 crore (YoY).
RattanIndia Power: Q1 loss at Rs 7.6 crore versus loss of Rs 136.9 crore; revenue up 43.2 percent at Rs 690.7 crore versus Rs 482.2 crore (YoY).
Indostar Capital Finance: Q1 profit declines to Rs 31.48 crore versus Rs 51.06 crore; revenue rises to Rs 229.04 crore versus Rs 181.67 crore (YoY).
Endurance Technologies: Q1 profit jumps to Rs 124.6 crore versus Rs 96.53 crore; revenue rises to Rs 1,860.43 crore versus Rs 1,505.73 crore (YoY).
Lux Industries: Q1 increases to Rs 18.75 crore versus Rs 15.69 crore; revenue rises to Rs 262.3 crore versus Rs 246.15 crore (YoY).
ARSS Infrastructure: Q1 loss at Rs 10.70 crore versus loss at Rs 15.12 crore; revenue falls to Rs 135.40 crore versus Rs 312.4 crore (YoY).
Globus Spirits: Q1 profit jumps to Rs 7.54 crore versus Rs 1.56 crore; revenue rises to Rs 258.21 crore versus Rs 244 crore (YoY).
Sequent Scientific: Q1 profit doubles to Rs 4.48 crore versus Rs 2.24 crore; revenue rises to Rs 235.15 crore versus Rs 192.62 crore (YoY).
Galaxy Surfactants: Q1 profit rises to Rs 45.71 crore versus Rs 35.85 crore; revenue increases to Rs 716.2 crore versus Rs 582.37 crore (YoY).
Elgi Equipments: Q1 profit jumps to Rs 21.63 crore versus Rs 16.5 crore; revenue increases to Rs 260.9 crore versus Rs 205.9 crore (YoY).
Renaissance Jewellery: Q1 consolidated profit rises to Rs 11.69 crore versus Rs 8.9 crore; revenue jumps to Rs 456.2 crore versus Rs 376.9 crore (YoY).
Phoenix Mills: Q1 profit rises to Rs 59.73 crore versus Rs 42.6 crore; revenue increases to Rs 413.2 crore versus Rs 395.9 crore (YoY).
Reliance Communications: Company and Reliance Jio Infocomm signed agreement for change in spectrum allotment in 800 MHz band across 22 circles.
Himachal Futuristic Communications: Company has received the purchase orders worth Rs 278.51 crore and Rs 304.95 crore approximately aggregating to Rs 583.46 crore from BBNL.
Urja Global: Board approved re-consideration of approval for filing application for listing of green bond or equity shares at London Stock Exchange/Singapore Stock Exchange/NASDAQ; and re-consideration the issue of green bonds upto $500 million for financing the renewable energy projects and e-rickshaws.
Reliance Industries: Reliance Brands purchased an additional 22.18 percent equity stake in Genesis Colors (GCL) for about Rs 93.16 crore, taking its total stake in GCL to 33.83 percent.
Sarda Energy & Minerals: Company sought approval of the shareholders for raising of funds upto an amount not exceeding Rs 1,000 crore through equity/equity related instruments.
Electrosteel Steels: Ashutosh Agarwal resigned as Chief Financial Officer of the company.
GPT Infraprojects: Company bags order valued at Rs 58 crore.
AI Champdany Industries: Board at its meeting scheduled to be held on August 13 will consider delisting of shares from one stock exchange.
Glenmark Pharma: Board approved the transfer of the company's business of active pharmaceuticals ingredient (API) to its wholly owned subsidiary.
Jindal Poly Films: Board approved expansion plans for company's India operation by way of investment of approximately Rs 400 crore in 2nd Nonwoven Spunmelt Fabric line; also approved expansion plans for India operation by way of investment of Rs 350 crore in Biaxially-Oriented Poly Propylene (BOPP)-Line No.8 and Cast Poly Propylene (C PP) Line No. 2.
Welspun Corp: Company received contract of value $51 million for loadout, transportation and related services pertaining to pipes in to the Americas market. With this addition, its current order book stands at 1,514 KMTs valued at Rs 10,900 crore.
Hinduja Global Solutions: Company's subsidiary Hinduja Global Solutions UK Ltd received 2-year contract from the Crown Commercial Government Contact Centre Framework for the Money Advice Service.
Quess Corp: Company completed acquisition of additional 8 percent equity in Simpliance Technologies Private Limited. With this, Quess holds 53 percent equity in Simpliance.
Cipla: Company received final approval for its abbreviated new drug application (ANDA) for HIV drug Atazanavir Caps from USFDA.
Cipla: Subsidiary Cipla USA, Inc has secured rights from MSN Laboratories Private Limited to market & distribute Capecitabine 150mg and 500mg tablets in US.
Pioneer Distilleries: Company closed operation of the company's plant at Balapur, Maharashtra for two weeks.
Power Grid Corporation: Company entered into a term loan facility agreement for Rs 10,000 crore with State Bank of India for meeting Capital expenditure for expansion/renovation and setting up various undergoing and new transmission and other projects in the company and in identified SPVs/JVs of the company.
NBCC (India): Company has received an order from Central Board of Secondary Education (CBSE) for construction of CBSE, Integrated Office Complex amounting to Rs 150 crore.
Tata Teleservices (Maharashtra): Board approved raising of additional funds upto an aggregate amount of Rs 20,000 crore.
Ashok Leyland: Subsidiary Optare PLC from Transport for London (TfL) received order for 31 Optare Metrodecker EV double-decker buses to be bought by Metroline and will be added to London's fleet by next summer.
Alkem Labs: US FDA issues no Form 483 to company's manufacturing unit in California.
XPro India: Board gets shareholder nod for reappointment of C Bhaskar as MD & CEO.
APT Packaging: Board approves re-appointment of Arvind Machhar as MD.
Jindal Poly Films: Jindal Poly Films: Board approved expansion plans for company's India operation by way of investment of approximately Rs 400 crore in 2nd Nonwoven Spunmelt Fabric line; also approved expansion plans for India operation by way of investment of Rs 350 crore in Biaxially-Oriented Poly Propylene (BOPP)-Line No.8 and Cast Poly Propylene (C PP) Line No. 2.
Jet Airways: S Vishwanathan did not quit the audit committee; his term came to an end.
7NR Retail: Board approved issue of bonus shares in the ratio 1:2.
Arihant Superstructures: Board has constituted a committee on insider trading and board was informed of non-compliance of SEBI provisions by independent director, Dinesh Babel.
HDFC Bank: Deputy MD Paresh Sukthankar resigns.
Tata Motors: July total group global wholesales down 5 percent at 92,639 units (YoY).
Adani Gas: Wins 7 more geographical areas, Bharat Gas wins 5 geographical areas and Torrent Gas wins 3 geographical areas under 9th round of City Gas Distribution bid - Reports CNBC-TV18.
US consumer inflation expectations for July, and China's FDI year-to-date and outstanding loan growth for July will be released on Monday.
China's Industrial Production and Retail Sales for July; Japan's capacity utilisation and Industrial Production for June; and Euro Area's GDP growth for Q2CY18 and Industrial production for June will be announced on Tuesday.
China's House Price Index for July; and US' Retail Sales & Industrial Production for July, MBA Mortgage Application for the week ended August 10 and API & EIA Crude Oil Stocks Change for the week ended August 10 will be declared on Wednesday.
Japan's Balance of Trade for July; Euro Area's Balance of Trade for June; US' Initial Jobless Claims for the week ended August 11 and Housing Starts for July will be released on Thursday.
Euro Area's Inflation for July, Current Account Balance for June and Core inflation rate for July will be announced on Friday.Disclosure: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.