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SGX Nifty Down 118 Points, Bharat Electronics Q1 Results, the Latest on 5G Spectrum Auction, and Top Buzzing Stocks Today
Tue, 19 Jul Pre-Open

Bharat Electronics Q1 Results, the Latest on 5G Spectrum Auction, and Top Buzzing Stocks Today

On Monday, Indian share markets ended on a strong note led by gains in beaten-down IT stocks, while a bounce in global equity markets also aided broader investor sentiment.

Benchmark indices ended on a positive note for the second consecutive day.

High volatility in the market is likely to continue in the near-term with erratic action from FIIs and sustained buying on dips by retail investors.

At the closing bell on Monday, the BSE Sensex stood higher by 760 points (up 1.4%).

Meanwhile, the NSE Nifty closed higher by 229 points (up 1.4%).

IndusInd Bank, Infosys, and Tech Mahindra were among the top gainers.

Dr Reddy's Laboratories, HDFC Bank, and M&M, on the other hand, were among the top losers.

HDFC Bank share price fell post its Q1 result announcement.

The broader markets ended in the green. The BSE MidCap index ended higher by 1.5% and the BSE SmallCap index ended higher by 1.4%.

All sectoral indices ended in the green yesterday with stocks in the IT sector, banking sector, and metal sector, witnessing most of the buying.

Shares of Blue Dart Express and Eicher Motor hit their 52-week highs.

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Also, check out the top 6 undervalued stocks to add to your watchlist.

The rupee hit a new record low yesterday and closed at 79.98 against the US$.

As the rupee depreciates, check out these five companies which stand to gain big from a weakening rupee.

Gold prices for the latest contract on MCX were trading up by 0.8% at Rs 50,500 per 10 grams, at the time of Indian market closing hours yesterday.

Meanwhile, silver prices for the latest contract on MCX were trading up by 1.1% at Rs 56,196 per 1 kg, at the time of Indian market closing hours yesterday.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

At 7:40 AM today, the SGX Nifty was trading down by 118 points or 0.7% lower at 16,170 levels.

Indian share markets are headed for a gap-down opening today following the trend on SGX Nifty.

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In volatile markets, avoiding losses is more important than making profits. Keeping your capital intact in the face of unpredictable markets is an achievement.

Especially with possibilities of recession making sure that you do not invest in stocks that that lose money is very important. The don'ts have become more important than the do's.

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Top Buzzing Stocks Today

Jindal Stainless share price will be among the top buzzing stocks today.

Jindal Stainless will supply 3,500 tonnes stainless steel for the Indian Railway's Udhampur-Srinagar-Baramulla Railway Link (USBRL) tunnel project.

In a statement, the company said the project is a 272 km-long railway link between Jammu and Kashmir.

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The company further mentioned that this will be the first-ever application of stainless steel cable trays in an Indian railway project.

SpiceJet and Interglobe Aviation share price will also be in focus today.

Oil marketing companies have cut down air turbine fuel (ATF) prices by over 2%, providing relief to the struggling carriers.

This marks the second reduction in the current year. Fall in global crude oil prices has allowed companies to provide relief to the airlines.

Market participants will also track shares of HUL, HDFC Life, and Ambuja Cements as these companies are set to announce their Q1 results later today.

Bharat Electronics Q1 Results

The state-owned aerospace & defense company has posted a net profit of Rs 4.3 bn for the June 2022 quarter.

The company has achieved a turnover of Rs 30.6 bn, during the quarter under review as against a turnover of Rs 15.6 bn in the same quarter last year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin improved by 1265 bps to 16.5% in the June 2022 quarter.

As of 1 July 2022, the company's order book position stood at Rs 553.3 bn.

Adani Wilmar slashes cooking oil prices

Adani Group company Adani Wilmar has announced the reduction of prices in cooking oil by Rs 30 per litre due to the decline in global prices.

The announcement comes after the Food Ministry directed edible oil firms to pass on the benefit of a drop in global cooking oil prices to customers.

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The company which sells products under the Fortune brand, has trimmed soyabean oil prices to Rs 165 per litre from Rs 195 per litre.

Meanwhile, the sunflower oil price is made cheaper to Rs 199 per litre from Rs 210 per litre.

This is the second time the FMCG giant has slashed prices in the last month.

Note that Adani Wilmar is a newly listed stock of 2022 and has performed well for its investors.

5G Auction Update

India's largest telecom operator Reliance Jio Infocomm has submitted earnest money deposit (EMD) of Rs 140 bn ahead of its participation in 5G auction.

Bharti Airtel, one of the prime competitors of Jio, has submitted an EMD of Rs 55 bn.

Vodafone Idea, which is considered as the third major contemporary player in the country's telecom sector, has submitted an EMD of Rs 22 bn.

Adani Data Networks Ltd, which had last week announced its participation in the upcoming 5G spectrum auction, has submitted an EMD of Rs 1 bn.

All the above participants have paid Rs 100,000 as the application fee for the auction, which will start from 26 July 2022.

Note that Bharti Airtel share price has been falling ever since the Adani group announced its foray into the telecom sector.

We will keep you updated on the latest developments from this space. Stay tuned.

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

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