- The BSE small- and mid-capitalization indices both increased by 0.5%.
- The Indian Rupee would trade with a slight negative bias due to the strong dollar and recovery in crude oil prices.
- In FY 2022–2023, gas output from the KG–D6 block will be restored to around 20 million cubic meters per day.
Among the biggest gainers on the Nifty index were Power Grid Corporation, Larsen and Toubro, M&M, Cipla, and BPCL, while the index’s losers were Reliance Industries, Hindalco Industries, Adani Enterprises, Nestle India, and HCL Technologies. With real estate and capital goods up 1% apiece, all other sectors indices finished in the black.
The BSE small- and mid-capitalization indices both increased by 0.5%. With an equal-weight rating and a target price of Rs 2,400 per share, Morgan Stanley View On Mphasis is expected to do well in the second half of the year, showing early signs of improvement over the previous two quarters.
Today’s Stock Market
The Indian Rupee would trade with a slight negative bias due to the strong dollar and recovery in crude oil prices, according to Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas.
A bullish mood in local markets and a surge in risk appetite may maintain the Rupee at lower levels, despite the possibility of additional selling pressure from FIIs. The rupee may be supported by any RBI intervention.
In the financial year 2022–2023, gas output from the KG–D6 block will be restored to around 20 million cubic meters per day, according to Mukesh Ambani’s announcement at the Reliance AGM.
To increase gas production to 30 million standard cubic meters per day, which will account for 30% of India’s gas production and 15% of its present gas demand, they are well on their way.
Morgan Stanley’s Position On The company’s earnings outlook is being driven by improved global gasoline demand and domestic regulatory improvements, which have boosted the overweight rating and target price for BPCL from Rs 425 to Rs 485 per share.
The company’s earnings outlook should be driven by an above-trend increase in oil consumption and an investment shift to chemicals worth USD 8 billion.
With a pre-money equity value of Rs 8.28 lakh crore, Responsive Industries Limited obtained crucial orders from the Indian Railways for the Vande Bharat project. Reliance Retail would have been one of the top four Indian businesses and one of the top ten retailers worldwide based on this valuation.
