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Tata Steel Results, Defence PSU IPOs and Top Stocks in Action
Tue, 8 Aug Pre-Open

On Monday, the share markets in India traded rangebound throughout the day and finished marginally lower.

The BSE Sensex closed lower by 51 points to end at 32,273 while the broader NSE Nifty ended the day lower by 9 points to close at 10,057.

Oil and gas stocks and PSU Stocks were among the top gainers on Monday as Hindustan Petroleum (HPCL), Indian Oil Corp. (IOC), Bharat Petroleum (BPCL) ended the day in green, while Infosys, NTPC and Mahindra & Mahindra were the major losers.

Top Stocks in Action Today

Tata Steel is likely to be in focus today as the company reported its quarterly results after market hours yesterday. Tata steel share price hit its 52-week high and closed up by 4.3% yesterday in anticipation of good quarterly numbers.

Britannia Industries share price will be in focus today after the oil major declared its quarterly results yesterday. The company reported a 3.8% increase in operating profits over the same quarter in the previous year. However, the company's consolidated net profits fell by 1.4% yoy despite topline and operational growth. Higher tax rate and lower margin impacted profitability. Meanwhile, the FMCG major is planning to set up its largest plant at the Ranjangaon food park in Maharashtra.

will be in focus today after the company announced that its board will consider raising up to Rs 44 billion via debt. The company said it was considering fund raising through the way of commercial papers and unsecured debentures for its aluminum business. The board of directors are scheduled to meet on August 11.

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Company Earnings That Will Drive Indian Markets Today

Companies which will be reporting June quarter earnings today include Bank of India, Future Retail Ltd, Glaxosmithkline Consumer Healthcare Ltd, Jindal Steel, Tata Chemicals among others.

Global Markets Continue Rise

Global markets continued their upward march on the back of better than expected US jobs data. The Dow Jones industrial average hit a record high and posted its eighth straight record close. The U.S. economy added 209,000 jobs last month, according to the Labor Department, well above the expected gain of 183,000. Asian share markets reacted positively to the news.

IPO Buzz

In news from the IPO space, he government is planning to list four of its defence PSUs by selling up to 25% stake in each of them through an initial public offering. The Department of Investment and Public Asset Management has outlined plans for divesting up to 25% stake each in Bharat Dynamics, Garden Reach Shipbuilders & Engineers, Mazagon Dock Shipbuilders and Mishra Dhatu Nigam Ltd.IPOs are all the rage in the share markets these days. With new companies listing by the day, all with promises of superior returns.

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Oil Prices Edge Lower

Oil edged lower on Monday amid concerns about major oil producers' wavering commitment to output caps and ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC).

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