SGX Nifty Down 34 Points, ITC Q1 Report Card, the Latest on 5G Spectrum Auction, and Top Buzzing Stocks Today

Tue, 2 Aug Pre-Open

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On Monday, Indian share markets extended gains as the session progressed to end on a strong note as most sectoral indices saw a rise of 2-3%.

Auto stocks took charge and rallied while telecom and power stocks added fuel to the rally.

At the closing bell on Monday, the BSE Sensex stood higher by 545 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 182 points (up 1.1%).

M&M, NTPC, Reliance were among the top gainers.

Sun Pharma, HUL, and IndusInd Bank, on the other hand, were among the top losers.

The broader markets ended on a positive note. Both, the BSE MidCap index and the BSE Smallcap index climbed 1.5%.

All sectoral indices ended on a firm note with paper, auto, oil & gas and telecom stocks witnessing most of the buying.

At 8:00 AM today, the SGX Nifty was trading down by 34 points or 0.2% lower at 17,300 levels.

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

Shares of Maruti Suzuki, Adani Total and Adani Transmission hit their 52-week highs yesterday.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

Also, check out the 5 stocks paying out big dividends in August 2022.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Gold prices for the latest contract on MCX were trading up by 0.6% at Rs 51,043 per 10 grams at the time on Indian market closing hours yesterday.

Speaking of stock markets, chartist Brijesh Bhatia does a complete analysis of today's market and what to expect today, in the video below.

Top Buzzing Stocks Today

Zomato share price will be among the top buzzing stocks today.

Zomato, the online food delivery platform said its consolidated net loss in the first quarter of the current financial year almost halved to Rs 1.9 bn due to higher income.

The company had reported a net loss of Rs 3.6 bn in the year-ago period.

Union Bank of India share price will also be in focus today.

The state-run lender expects to recover Rs 150 bn from bad loan accounts during the current fiscal year, and a bulk of this would come from accounts undergoing insolvency resolution process.

Market participants will also track shares of Adani Green Energy, Data Patterns and Bosch as these companies are scheduled to announce their Q1 results later today.

ITC Q1 Results

Cigarette and FMCG major ITC yesterday reported its quarterly results for the quarter ended June 2022 post market hours.

ITC reported a 38.4% rise in net profit to Rs 41.7 bn for the June 2022 quarter compared with Rs 30.1 bn in the same quarter last year.

On the revenue front, ITC showed a 41.4% revenue growth YoY to Rs 183.2 bn. The figure was up 6.8% sequentially.

Its FMCG segment saw a revenue hike of 25% and cigarettes segment saw a rise of 28% in revenue.

ITC beat estimates on the revenue front and on profit and margins.

EBITDA for the quarter under review stood at Rs 56.4 bn while EBITDA margin for the quarter stood at 32.7%.

The volume growth in cigarettes was 21%, aided by improved mobility levels. EBITDA margin is seen expanding owing to an improved sales mix.

ITC is one of the best dividends paying stocks. We did an editorial back in January 2022 listing the best dividend stocks you can count on.

For more details, check out ITC 2021-2022 annual report analysis.

TVS Motor Sales Rise

TVS Motor Company on Monday reported a 13% increase in total sales at 3,14,639 units in July. The company had posted a total sales of 2,78,855 units in the same month last year.

Total two-wheelers sales were up 14% at 2,99,658 units last month, as against sales of 2,62,728 units in July 2021.

Domestic two-wheeler sales stood at 2,01,942 units as compared to 1,75,169 units in the year-ago month, up 15%, the company said.

TVS Motor is one of the early Indian companies betting big on EV supply chain.

It has been working on electric vehicles for the past decade to become the top EV companies in India.

No wonder share price of TVS Motor is rising and has touched their all-time high recently.

5G Spectrum Auction

The 5G spectrum auction concluded yesterday with the government cumulatively receiving bids of over Rs 1.5 lakh crore, Union Telecom Minister Ashwini Vaishnaw said.

Out of the 72,098 MHz of total spectrum on offer, around 71% or 51,236 MHz has been sold in the auction held through 40 rounds of bidding over the past seven days, Vaishnaw said.

The spectrum allocation will be completed by 10 August, and the amount of spectrum purchased is enough to cover the whole country with 5G.

Reliance Jio, the telecom arm of Reliance Industries, is the largest acquirer of 5G spectrum, with bids of over Rs 880 bn.

Among the three other bidders, Bharti Airtel took 19,867 MHz (700, 800, 1800, 3300, 26GHz) for a payable amount of Rs 430.8 bn.

Vodafone Idea, which is considered as the third major telecom sector player after Jio and Airtel in terms of market share acquired spectrum worth Rs 188 bn.

Adani Data Networks, an arm of the Adani Group, has acquired 400 MHz for a payable amount of Rs 2.1 bn.

Since you're interested in 5G, here are the top stocks riding the 5G wave in India.

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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