Indusind Bank Q1 Net profit jumped 60.5% yoy to RS 1,631.1 Crore, Estimated beats:

Indusind Bank on July 20 reported an increase in net profit 60.5 percent of the year-year to RS 1,631.1 Crore for the quarter ended in June, which was above the analyst expectations of RS 1,423.5 Crore.

Shrikant Chouhan, Head of Equity Research (Retail), Securities Box:

The market reflects mood in global equity and adds significant profits to strong purchases in it and certain media stocks and realty. Basically, the market hopes that Fed As may not be aggressive in the hiking level in the next meeting, while the decline in crude oil & oil prices has also moderated the bearish trend in this new session. In the technical field, Nifty has formed a small bearish candle near the important level of resistance.

Because the market is in a temporary overbought situation, we can see some orders for a higher level of earnings. For male ox, 16550 and 16600 will act as a direct resistance zone. On the other hand, 16450-16400 can be the main level of support.

Deepak Jasani, Head of Retail Research, HDFC Securities:

Nifty Rose for the fourth successive session was assisted by last night’s profits in the US and the reduction in the Tax of the Indian government with fuel. Nifty opened the gap and inching up to 1245 hours and then slipped. Cluce Nifty rose 1.1% or 180.3 points at 16520.9. The volume in NSE is the highest since June 17.

Nifty erupted with upgap on Wednesday but closed near the lowest daily, showing the highest profit. While the volume expansion supports upmove further, we must see whether the upgap made by Nifty in 16359 is filled or not in the next 1-2 days. Nifty can now remain in the ribbon 16359-16646 for the near future.

Rupak De, Senior Technical Analyst at LKP Securities:

Nifty found resistance at a higher level because it reached the ribbon up the channel rising on the daily graph. In the near future, the index can consolidate to provide a breakout above 16600. At the bottom end, 16350-16400 can remain an important support. The Buy on Dips strategy is likely to work for a good one above 16350.

Care rating to buy back shares up to RS 120 Crore at RS 515 per share through a tender offer:

The Board of Directors of the Care Ranking approves the proposal to buy back to 23.68,000 equity shares paid in full with the nominal value of RS 10, each representing 7.99% of the total capital of equity shares issued and paid from the company) with the price of RS 515 per equity share .

Kunal Shah, Senior Technical Analyst at LKP Securities:

Bank Nifty Index faces several order orders at a higher level but remains in the upward trend with the Buy On Approach. Direct obstacles on the positive side are in zone 36,300-36,500 which coincide with its 200-DMA. The index can consolidate in the range of 35,500-36,500 with a positive bias during the support mentioned based on the closure.

Vinod Nair, Head of Research in Geojit Financial Services:

Indian shares lead a stable climb as a result of encouraging signals from the domestic and international markets. Reducing export tax and rejected tax incomplete increases the mood of oil producers. The results of a strong quarterly in the US market increased general meetings, while the European market rose as a concern for the supply of European energy to subside. If the sustainable purchase from FII applies, it will provide a cushion to rally up in the domestic market.

NCLT recognizes the Petition of Bank of India to start the bankruptcy process of Future Retail Ltd (FRL)

NCLT recognizes the Petition of Bank of India to begin the bankruptcy process of future retail. However, NCLT rejected the Amazon intervention application in the future retail case. Bank of India moved NCLT to find the bankruptcy process against FRL in April